>>4573626 (LB)
This one fails my litmus test.
At around 8:20 they say "They print the money, then they loan it to the government, them they charge the government interest, them the government taxes you to pay for it".
Wrong. While the Fed charged the government interest (just like everyone else), all of the profits that the Fed makes through interest is remitted back to the government at the end of the year. They don't have to tax you to pay for it. The money that is made through this scheme does not go into the bankers pockets.
The real problem with the Fed is that for-profit bankers decide when to pull the levers to change policy. Outside the Fed, they can setup positions to profit from the market movement that only they can perfectly predict… because they cause them.