Of course not. Faux pro blacks like you just want a hug and a kiss on the forehead from cacs. You don't want the sovereignty I suggested where blacks police themselves and couldn't give a fukk less about what cacs say or think
I said one thing about empowerment and now I am labeled "faux pro Black"?
You still in your feelings because of my initial comment towards you.
You talking about individuals and I'm talking economics. The bankers could make the US a third world country just by calling them on that trillion dollar debt.
You actually think I'm talking about your bank teller at your local chase bank?
I'm talking about the federal reserve. You're a slave to them no matter how many fancy trinkets they allow you to get.
The govt doesn't have the assets to pay off the debt so they made YOU,the worker, the collateral. You just don't understand what's going on like you think you do which is why you keep referring to debt prisons and bill collecting practices
You're all over the place which tells me you are confused and probably getting your information from crackpots.
The Federal Reserve's primary responsibility is to set monetary policy for one. The FED BOG (Federal Reserve Board of Governors) are what set the reserve requirements of banks. This reserve requirement helps people like me or you that deposit money in a banking institution. For example, I put $10 in a bank and the reserve requirement set by the Fed is 20%, meaning of that $10 placed in the bank, the bank is required to keep $2, and they can loan out $8. This process - when many individuals deposit money into banks - expands the money supply. So one could say the depository system indirectly "controls" the money supply but it's only because of the Fed's reserve requirements.
The Fed manipulates the money supply depending on the circumstances of the economic environment. If people are spending money, inflation could increase, thus the Fed has to step in to mitigate that so it will take action through the "Federal Open Market Committee" to which this committee controls the open market operations of the reserve banks (there are only 12 reserve banks - most of them located in the Mid-west and East-Coast, and about 2, I think, on the west coast). When taking action through the FOMC (to use an acronym), the Fed is able to set the discount rate or interest rates which impact the banks (your Chase, Wells Fargo, etc...) being able to borrow funds from the reserve banks to meet their reserve requirements as described above. So logically, you can come to the conclusion that if the Fed increases the interest rates (i.e., the cost of borrowing money increases), banks will borrow less and maintain a defensive position, and the impact of this will be fewer personal loans and business loans being made, etc.... Or, the Fed can decrease the interest rates, thus expanding the money supply.
It's not that we are "slaves" to them, that is an absurd assumption to make. They act to keep the U.S. economic system afloat and not cause pandemonium in the streets.
And because I touched up on inflation and how the Fed wants to keep it as low as possible, let's talk about it for a second.
There are about 4 different types of inflation (there could be more but I am going off the cuff right now): (1) change in costs, (2) change in money supply, (3) speculation, and (4) administrative pressures
(1) is centered around businesses, meeting production deadlines, etc...
(2) your usual demand and supply. Demand in particular industries. For example, if the demand for particular metals increase, the price for those that produce the metal will increase as well.
(3) say you think the price on 'something' will rise in the future, you - and others like you that hold a similar expectation - will go out and buy that 'something'. This speculation leads to inflation because the price of that 'something' will increase due to the demand imposed on it by people that think the price will rise in the future (sort of a self-fulfilling prophecy when you think about it).
(4) prices rise in a booming economy, so there will naturally be a demand for a wage increase, and chances are that wages will increase. So when a recession roles around those wages don't go down, rather people are laid off and prices tend to remain the same. Why? It is primarily because of major unions that have contracts set out that don't allow employers to decrease wages of its employees no matter the economic conditions at the time. On top of that you have corporations relying on
non-price competition strategies. Non-price competition are your ads and business design, etc...., which eat up the revenue. So corporations end up laying people off to cut costs down.
Point is, there are many different types of inflation that the Fed tries to combat. If corporations end up laying a lot of people off the government steps in to rectify that situation. Then the government borrows more money from foreign governments or investors or both. They aren't a nefarious entity trying to keep you some 'slave' to some system.
In addition, a lot of U.S. debt (almost the majority) is held by foreign countries and investors.
govinfo
Click table B-24 near the bottom, "Estimated Ownership of U.S. Treasury Securities from 2003-2016"
Stop being a damn fool.