https://finopsinfo.com/investments/dole-class-action-ruling-short-selling-clawback-next/

So in the 19th century there used to be, literally, thousands of currencies, and after inefficiencies and some catastrophes the FED was established.... except it was PRIVATE.

Then in the 1970's we had the stock market paperwork crisis where shares being traded around meant the certificates had to be transferred constantly which was chaos, so they solved the problem by giving technical legal custody of almost all shares in the system to a PRIVATE entity....

How come two of the most powerful and systemically important institutions in the modern era are PRIVATE? Isn't this extremely concerning? The argument that the fed should be private usually hinges on "well we dont want politicians and political games to be used to print money", but they are supposed to be the most powerful elected body in the land, who literally run the country. So its ok if congress runs the country... but it's NOT ok if they or the treasury printed the currency..

Fucking wild how in the age of the internet anyone can look all of this up, verify it to be true, and still believe that everything isn't a literal wealth extraction scam.