Could Someone Please Explain the Money Supply?

[Copernicus]

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In what ways is it quasi-governmental as opposed to private or fully-governmental?

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It is governmental to the extent that it exists by an Act of Congress and its function can be changed or terminated by legislation. Members of the Board are Presidential appointees with Senate ratification.

It is non-governmental in that its day to day decisions are not overseen or ratified by anyone outside the agency and it isnt publically funded.

I am trying to come up with a simple analogy to show why there is no "free lunch", but will have to get back to it later.