The Federal Reserve's balance sheet as of February 19 sits at $6.57 trillion. It still holds $4.3 trillion in Treasury securities and $2 trillion in mortgage-backed securities. That's not a reserve. That's a portfolio.

The name has always been a sleight of hand. Not a federal agency. No actual reserves. The Federal Reserve Act of 1913 handed currency control to a private banking cartel, and the IRS Act was signed the same day to ensure there was a mechanism to collect on the debt it would generate.

The Eustace Mullins quote on this card's back isn't hyperbole. Mullins spent years in the Library of Congress researching what most economists had glossed over. His book on the Fed was originally commissioned by Ezra Pound, who was writing from prison at the time.

Bitcoiners tend to understand the mechanism intuitively. What was the moment it clicked for you?

#Bitcoin #BasedTradingCards

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