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submitted 4 weeks ago* (last edited 4 weeks ago) by Wuli1@lemmy.world to c/whitepeopletwitter@sh.itjust.works
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[-] TheJesusaurus@sh.itjust.works 4 points 4 weeks ago

That guy is 100% a whacked out conspiracy nutter. Please ask him to explain exactly how higher tax rates increase profits for the boards of the fed.

His heads in the right place but the fed isn't shadowy cabals and secret societies evil. It's just normal, regular, banal, calloused, corporate evil

[-] Mulligrubs@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago)

Look up who's on the board and what they control and go from there. There's no "shadowy cabal" or "secret society". It's all right out in the open.

The US needs money, the fed controls the money. That's not a conspiracy, friend.

The US takes a loan on this money, which was never printed. Banks make money.

With that loan, the USA gives a loan to another country. Banks make money off of that new nation (interest).

That third world, poor country can't pay the loans, of course. They are given another loan. The banks make money off of that loan to cover the "costs" of the old loan (zero).

None of this "money" was ever printed.

At this point, they've been collecting interest off of that money many times over. The banks then buy physical property/goods with that money that was never printed and costs them nothing.

This is vastly over simplified, but cannot be denied.

We agree on one thing, it is banal and business as usual.

https://en.wikipedia.org/wiki/Federal_Reserve

[-] TheJesusaurus@sh.itjust.works 1 points 3 weeks ago

I mean I agree with everything you've said here but I think you're also misinterpreting the relationship between the fed and the us government, the feds public facing function and what it does.

[-] Mulligrubs@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago)

I don't work at The Fed, but I do know every member on their board is from a bank or financial institution and they will return to a bank or financial institution after they serve their term.

The FED are bankers in charge of the regulation of bankers.

You can disagree and that's fine, but put me in the camp of Bernie Sanders and many others.

Recommend a book to me to convince me how great they are, I don't take your word for it.

https://www.commondreams.org/news/sanders-bank-executives-federal-reserve

[-] TheJesusaurus@sh.itjust.works 1 points 3 weeks ago

Of course they are bankers, that's by design? It's literally how it's set up. I generally respect Bernie sanders. I don't think the fed is a great example of a central bank implementation either but you can't just hand government the power to print money...

[-] Mulligrubs@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago)

They go back to work at the bank after the FED, the VERY BANK THEY REGULATE.

Open your eyes, please and thank you.

"you can't just hand the government to print money" Guffaw . Good idea, let's get the for-profit banks to print money. BRILLIANT

[-] TheJesusaurus@sh.itjust.works 1 points 3 weeks ago

You keep saying these things, I know that, that's precisely how the fed is designed.

The fed isn't a for profit bank

[-] Mulligrubs@lemmy.world 1 points 3 weeks ago

The FED IS staffed by for-profit bankers before and after their term on the fed.

The FED is for profit.

this post was submitted on 06 Jan 2026
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