georgephillip
Diamond Member
"If there has been any positive outcome from the COVID-19 pandemic, it has been that the American people are beginning to take a cold, hard look at how the U.S. economy has been engineered as a vast wealth transfer system for the one percent.
"We have peeled back the dark curtain further today on how the Federal Reserve has been structured as an unlimited money spigot to enrich that one percent as it privatizes profits for the criminally-inclined Wall Street titans and socializes the losses to the law-abiding 99 percent of hardworking Americans."
Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet
The Fed's Board of Governors currently consists of five unelected individuals overseeing a balance sheet of $6.98 trillion which is 28% of the $25.3 trillion federal debt that's overseen by 435 elected members of the House and 100 elected Senator.
Sure, the politicians spend hours every day dialing for campaign dollars, but the Fed's fealty to the richest one percent trumps every other threat to the 99%.