31 July 2018

Chevalier Charles Coulombe on Federal Reserve & Immoral Inflation?

Who owns the Federal Reserve Bank is one of my favourite trick questions to ask Americans. 90+% of people will answer immediately, 'The Government', to which I respond, gleefully, 'Wrong-O!'

As the Chevalier points out, it is a private corporation. Don't believe it? Find the phone book from any of the cities that have a Federal Reserve Bank. Turn to the 'Blue Pages' with government listings. You will search in vain for the Fed. Then turn to the regular Yellow Pages, where you will find it after Federal Express, and before Federal Signal Corporation, two other private corporations.

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