Please do not act as if you’re reading of a few economics books makes you an expert, and that you have complete knowledge and understanding of the entire system. I am well versed in economics, and the fact is that the Federal Reserve IS a PRIVATE bank, and it is hardly a non-profit organization. As they do not release financial statements (being privately held) it is no simple task to say exactly how profitable the Fed is, or to whom the profits go.

Our national debt essentially represents our government’s debt for printing money. Some of this debt is privately held, by domestic and international investors (such as China, as everyone loves to point out). However, I would point out that the largest portion of this debt is owned by THE FED. This is the most simple transaction for the government to procure dollar bills. You may remember from your education in economics that the Fed controls the money supply partly through buying and selling T-Bills. The government receives US dollars, the Fed receives a Treasury Bill promising future payment of A HIGHER AMOUNT than that which was paid for said T-Bill. Thus, the Fed (and everyone else purchasing T-Bills) does charge interest, and thus does earn a profit.

To your next ignorant (although you may consider yourself “educated”) comment, “Central banks in many countries have been made independent.” This is true. This is in large part due to the requirements the IMF imposes on countries that wish to be a part of the international banking community. No independent central bank; no access. Thus, every country on the planet with a central bank can be controlled by it.

You should ask yourself just one question, Jules Ross. As we understand that the Fed is a private organization (I hope you understand this, as you yourself pointed out that it is independent), would YOU trust a private company to run the economy in the interest of society, and not manipulate it to their own interests?

Didn’t think so. You’re welcome for the lesson in economics. Now realize many of the things you took for face value are in fact false. In believing everything you hear in a book or school, YOU have fallen victim to the conspiracy theories. The official story is the conspiracy; we are all searching for the truth. Open your eyes.