“It not being part of the government is a technicality given the power and authority it has.”
Good point. The structure has been dictated by Acts of Congress. Ultimately it is a creature of Federal Law.
Part of the reason for it being outside the Government framework is the desire for an independent institution.
“It is identical to having a bunch of government stooges behind closed doors spending trillions with no oversight. Same exact thing.”
Except they dont spend our money. They have their own balance sheet.
They create money out of thin air so they do spend our money because the money they create is legal tender which means that all of our money gets devalued when they spend it.
Once again, why not have every part of our government run by a secretive bunch of elites who answer to no one or if they answer to someone its about something immaterial.
Why vote? Eh? You like secretive organizations running everything? You would prefer that to congess?
There is no value to independence when you are not independent of the people you are allowing to be independent.
If independence is good, how about they can’t mess with our money supply eh? Oh right its only good when they are untouchable and can hold power over us.
Its a pretty obvious principle that a balance of power is a good thing and that some people have to know what other government-granted power-holders are doing with their power. We have a right to know that that power is being wielded correctly.
However, since I am a capitalist I don’t want a federal reserve at all. I believe in this thing called a free-market. May be a foreign concept to some.