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I had to get up and go get a deep, fresh breath of air after reading Bruce's
response...lol Some people have all the answers and some people don't.
Anybody who's done any reading at all knows the Federal Reserve is a private
corporation, and only goes up the Hill to humor the (in this case, powerless)
Congress, which keeps them from making the Federal Reserve a government
entity. Have you ever heard of Congress or the President REQUIRING that the
Fed alter interest rates or money supply, etc? Didn't think so....they can
suggest, make their queries, but the Fed is Hands Off. The last I'd read they
did not account for their revenues to anyone; in fact no one seems to know how
much they make, although they turn a token amount and report over to the
Treasury each year, voluntarily. And I didn't learn that in Nutcracker101 in
college....I learned that in both undergraduate and graduate school in Money &
Banking. And if you don't think the Chairman is annointed by the Eastern
Establishment and banking powerbrokers, prior to being appointed by the Pres,
well....Hang in there....your book is not wrong. :)
Joanie
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