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Is there any sort of tangible evidence that the 12 Federal Reserve banks do anything productive?

Have these banks done anything useful for the country in the last 10 years? Anything?

Is there any sort of tangible evidence that the 12 Federal Reserve banks do anything productive? Have these banks done anything useful for the country in the last 10 years? Anything?

(post is archived)

[–] • 1 pt

once upon a time, you needed to move actual paper bills and cheques to move money

so, you needed to have actual banks

now ? not so much, so, now they are useless

unless.... the network fail down, for whatever reason

then, we have a problem

[–] • 1 pt

>now ? not so much, so, now they are useless

If memory serves the federal government is not allowed to audit the Federal Reserve banks. There has never been a proper audit of The Fed, meaning all 12 banks are not accountable to anyone.

[–] [deleted] • 1 pt

You're talking about regular banks. OP asked about the federal reserve branches specifically.

[–] • 0 pt

they where supposed to give the printed money to the banks