Comment: I have to disagree

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I have to disagree

People saying the fed is private because most people believe they are a part of the government. It's a private business, with profiteers running the system for personal gain, not for the benefit of the economy or the "greater good". Over 95% loss in value of the dollar since it's founding.

Yes monopolies are bad because they only exist via state/coercion using the strong arm of government, this is exactly what the Fed does.

People, at least in my experience, want the public more involved in the Fed not to take it over and run it as it is, they want the public involved to audit it, a criminal investigation of sorts. The Federal Reserve and it's members have been able to whitewash just about every shady backroom deal or transaction because of the undying support of the government (bailouts, tarp, foreign investments). People only want the government to investigate and expose. They don't want the Fed taken over by the government, they want to ELIMINATE it.

To paraphrase a video I once watched making an analogy to the Fed, if you had a check book, and could write as many checks as you wanted for purchasing goods (united states notes issued by the treasury, as Kennedy supposedly wanted), would you hand that check book to a friend and in turn have that friend charge you interest for each and every check he is writing, making decision where those checks are going? The Federal reserve is your friend, in this analogy only.

I contend from a transparency point of view, that the Fed has more privacy then the grocery store. The financials with a private company, or even a publicly traded company, upon an audit, would be picked through much more thoroughly and with much more scrutiny than the Federal Reserve, period.