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| The republic establishes control of the Federal Reserve. You are correct in that a republic is not exactly a democracy.
We, the public vote for President of the United States and Senators. Seven of the 12 voting members of the FOMC are nominated by the President and confirmed by the Senate. Banks do not run the show. The citizens do not run the show. Those that we vote into office hold the power of majority influence over monetary policy. And they hold direct power over fiscal policy.
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Inflation
