Lie #1: The Federal Reserve Is a Bank

Practically everything the government says about banking is a lie. Central banks are not banks. The Federal Reserve, the central bank of the United States, is not a bank.

A bank is a company in the free economy that competes with other banks offering willing customers a safe place to make deposits and earn an interest rate return, while also competing to offer loans from those deposits to willing borrowers.

Central banks are government-created bureaucracies that do nothing of the sort....