Why do we need the Federal Reserve banks? They are a group of private banks that create "money" and then loan it to the government and charge the government interest for the privilege. Why should the tax payers be paying interest to a group of private banks? This has been going on since 1913 and so much debt has been loaded onto the taxpayers that now we only pay the interest on the debt. Why can't we use the US Treasury to create money and charge 0% interest to the government and if the private banks need money we could charge them interest. It seems as if the private federal reserve banks have the US government so far in debt its like someone with a huge credit card balance that can only pay the minimum payment each month.

For your enjoyment.

quote Originally posted by Csjag: Why do we need the Federal Reserve banks? They are a group of private banks that create "money" and then loan it to the government and charge the government interest for the privilege. Why should the tax payers be paying interest to a group of private banks? This has been going on since 1913 and so much debt has been loaded onto the taxpayers that now we only pay the interest on the debt. Why can't we use the US Treasury to create money and charge 0% interest to the government and if the private banks need money we could charge them interest. It seems as if the private federal reserve banks have the US government so far in debt its like someone with a huge credit card balance that can only pay the minimum payment each month.

Blaming debt on a lender is like blaming pregnancy on a low cut blouse or blaming a speeding ticket on a long straight highway.

Unbalanced budgets and deficit spending is the reason for govt (and private) debt.

because someone decided an unattainable goal would be fun to watch
come join the wheel of fun, little hamster