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The Federal Reserve is a Privately-Held, For-Profit Company
(lemmy.dbzer0.com)
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this post was submitted on 27 Nov 2023
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I mean.... it's isn't those things. It's literally a government agency. It can't "make profit", it literally is the banking system, not a bank itself.
It is literally not a government agency. It operates under a mandate from congress, but is not a government agency.
Congress isn't a business, but Pelosi sure made a shitton of money off of insider trading. At best we live in an oligarchy that poses as a democratic republic. The votes follow the money, not vice versa.