John Deaton Federal Reserve cartel
by Gigliola: John Deaton
The name Federal Reserve leads most to assume it is a government agency. Crypto lawyer and Senate candidate John Deaton JohnEDeaton1 counters that it operates as a private banking cartel. He highlights a business model many firms would envy for its structural advantage. Losses from bad bets are covered by taxpayer money, effectively socializing the risk. Meanwhile, the gains remain private, keeping the profits out of public reach when investments succeed
Transcript (en)
If you asked everyone randomly, do you think the Federal Reserve is a government agency? They would say, yes. They would say, of course, it's the Federal Reserve. Look how it sounds. The Federal Reserve. They would know that it is a private banking cartel that was created to benefit the banks. And think about it. They got the perfect business model, guys. If you can socialize the risk and privatize the gains so that when you get it wrong, American tax dollars are going to come bail you out and save you from your risky investments that went bad. But when you're 10xing your investments and all of that, then the taxpayers don't get a shot. If you enjoyed this, be sure to hit that like button and follow to stay up to date with what's going on in the world and everything else memes and markets. Peace.
