Re: [RT] GEN: DUMB FED QUESTION

["ChasW" <cwwaring@xxxxxxxxxxxxxx>]

there is a great book out there "The 
Fed"
 
it will curl your hair
 
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  Charles Meyer 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>REAL TRADERS 
  Sent: Wednesday, October 02, 2002 3:13 
  PM
  Subject: [RT] GEN: DUMB FED 
QUESTION
  
  Group-
   
  Just how much money does the Fed have?  The 
  amount of money in private hands such as savings accounts, investments, 
  bank accounts, etc. can be quantified.  
  
   
  Now; I believe that the Fed is comprised of 
  privately owned banks who can use their various
  moneary tools to either create or tighten the 
  so-called money supply.  But; how much money do
  they really have at their disposal?  Because 
  of their ability to create money out of thin air using
  the fractional reserve system; can one say that 
  they have a virtually unlimited supply of money?
   
  How does their supply or available money; measure 
  up against the amount of money held in
  private hands?  It seems that if the amount 
  of money held privately dwarfs the amount of money
  held by the Fed; their actions would have less 
  effect on their regulation of the economy.  Or; do these
  12 private banks have SO, SO MUCH money the dog 
  can wag the economic tail?
   
  I stay confused on subjects like this.  I 
  suppose the reason I'm asking is that I just read that the
  Government can seal our money in three 
  ways:  taxation, nationalization and inflation.  
  Somehow;
  this ends up in the hands of the bankers; 
  although I really don't quite understand the process.
  Thanks for any thoughts or comments.
   
  chas To 
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