Okay, here’s how I “think” he gets around legislative mandate: 1) This is a privately administered fund investing in Treasuries. 2) The Treasury only serves to regulate and oversee the private fund. 3) The Treasury is the conduit for fund transfers between the individual and this private fund. 4) Treasury can determine how and to whom Treasury bonds are sold. It’s another method of financing the government with long-term investment money with no fear of having the bonds called immediately.
Created by the President and Privately administered by the Treasury?
“Private” my big toe