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<p>[QUOTE="rush2112, post: 1307881, member: 25570"]From what I understand, the Federal Reserve is privately owned and if it's assets are the ability to profit off the backs off the citizens then it has no tangible assets. I always thought a Federal Reserve Note was backed by the assets of the U.S. government but it appears I was wrong and the two are in no way related.</p><p>I just have a hard time understanding why U.S citizens would allow this group of private individuals to profit off the their backs. </p><p>I now understand why nothing is done about the debt when those in charge of fixing the debt actually profit from debt. A common man would conclude that debt is good for the Federal Reserve in the same way debt is good for my credit card company. I did read once that John F Kennedy wanted to bring an end to the Federal Reserve but didn't suceed.[/QUOTE]</p><p><br /></p>
[QUOTE="rush2112, post: 1307881, member: 25570"]From what I understand, the Federal Reserve is privately owned and if it's assets are the ability to profit off the backs off the citizens then it has no tangible assets. I always thought a Federal Reserve Note was backed by the assets of the U.S. government but it appears I was wrong and the two are in no way related. I just have a hard time understanding why U.S citizens would allow this group of private individuals to profit off the their backs. I now understand why nothing is done about the debt when those in charge of fixing the debt actually profit from debt. A common man would conclude that debt is good for the Federal Reserve in the same way debt is good for my credit card company. I did read once that John F Kennedy wanted to bring an end to the Federal Reserve but didn't suceed.[/QUOTE]
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