Here is an interesting video about how private banks are juiced into the Federal Reserve Bank's Ponzi scheme to inflate the money supply and steal your savings.
I think the relationship between the Federal Reserve and Private Banks is the Fed's a privately held corporation and the banks are privately held subsidiary corporations. The Fed and its subsidiaries take direction from and answer to the Federal Reserve's Board of Directors. As Jefferson's quote makes clear... "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." He and others knew private banks like the Fed were dangerous, but that quote doesn't include why they're dangerous. When they wrote the Constitution they specified how the nation's money was to be handled. Of the Constitution’s Seven Money Clauses: Art. I, Sec. 8, Cl. 5. Congress shall have power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. Of the Constitution’s Five Monetary Rules: * Only gold or silver coins and currency (specie-backed banknotes) can be legal tender. * Fiat money notes (‘bills of credit’) are forbidden. Definition of Fiat Money: The term 'fiat money' means currency with legal-tender status that is not backed by anything of value. It means sell-outs in Congress and sell-out Wilson intentionally passed a Constitutionally illegal law. That law transferred complete control of the nation's money into the hands of a private banking corporation. The Fed controls the printing of money, how much is printed and when. The Fed can also make loans and raise/lower interest rates whenever they want, at their discretion, and by law, neither Congress nor the president have a say in the matter... an illegally legal Ponzi scheme. At the top of any bill it states, "Federal Reserve Note," and by Constitutional definition it's fiat money. Kissinger's trip around the world in 1971 signed up nations to agree to buy/sell oil only in US dollars. Hence, the USD became the petrodollar. The USD was taken off the gold standard and is not backed by anything of intrinsic value. Those bills in your pocket are backed by nothing but a perception of its value. The USD's perception of value lasted almost 50 years. The fiction was maintained with the convenient deaths of Hussein in 2006 and Gaddafi in 2011, after they defiantly announced using their own currency to buy/sell oil. However, no such convenience when China and Russia made oil deals with their own currencies. More recently, another country announced using their own currency. The USD's perception of value will continue to fade as other countries start using the convenience of their own currencies to buy/sell oil. All those trillions of US debt is nothing but fiat money the gov't borrows from banks. Worse, the Fed collects interest on it which the US hasn't been able to afford to reduce for decades. So the US borrows more each year with more bonds/treasury notes, continually adding to the (M1/M2) money supply. Which, in turn, creates a continually rising inflation and, in turn, steals more value from the USD. The Fed's monetary system is intentional and vicious, pushing everyone toward and/or further into debt. The American people are right where Jefferson told us we'd be.
Lol, I forget a lot of things these days. You mean defunct like this linked image I forgot how to show here? https://wingedliberty.com/wp-content/uploads/2018/04/US-Dollar-Value-Loss.jpg
