Difference between revisions of "Federal Reserve System"

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The '''Federal Reserve''' (also known as '''The Fed''') is a central [[bank]] that controls the monetary system of the [[United States]]. Although it acts with the authority of the [[government]], the Federal Reserve is not an official government agency. It was established by [[President]] [[Woodrow Wilson]] in 1914, but was never approved by [[Congress]].[http://www.federalreserve.gov/generalinfo/fract/] Although the [[Constitution]] says that only Congress has the authority to print money, the Federal Reserve issues currency that is not based on the original [[gold standard]].[http://www.federalreserve.gov/]  
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[[Image:Federal Reserve.jpg|right|thumb|300px|The Federal Reserve headquarters in Washington, DC.]]
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The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]]. Although it acts with the authority of the [[government]], the Federal Reserve is not an official government agency. It was established by [[President]] [[Woodrow Wilson]] in 1914.   Although the [[Constitution]] says that only Congress has the authority to print money, the Federal Reserve issues currency that is not based on the original [[gold standard]].[http://www.federalreserve.gov/] The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is [[Ben Bernanke]], his predecessor was [[Alan Greenspan]]. 
  
The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is [[Ben Bernanke]], a member of the [[Reform Jewish]] religion.[http://www.federalreserve.gov/bios/bernanke.htm] His predecessor was [[Alan Greenspan]], also a member of the Jewish faith, and the boyfriend of known [[atheist]] [[Ayn Rand]].[http://usliberals.about.com/od/peopleinthenews/a/Greenspan1.htm] The Fed was originally conceived by an organization called the "Money Trust", composed of the richest and most powerful [[Judaism|bankers]] in the world. Their ultimate goal was to control America's monetary system so that it is easier to incorporate the country into a [[one world government]].
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The main job of the Federal Reserve is to control [[inflation]] by regulating the [[free market]].[http://www.peterjaworski.com/Friedman] One of its main functions is to set the amount of money that banks must keep in reserve and to set the interest rates for money it lends to banks.
  
The main job of the Federal Reserve is to control [[inflation]] by regulating the [[free market]].[http://www.peterjaworski.com/Friedman] This limits personal freedom, which was given by [[God]] when He [[creationism|created]] us with a [[free will]].
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Federal Reserve banks are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Kansas City, St. Louis, Minneapolis, Dallas, and San Francisco.
  
 
==References==
 
==References==
*Griffin, G. Edward (1998) '''The Creature from Jekyll Island: A Second Look at the Federal Reserve''', 3rd edition. American Media. ISBN 0-912986-32-8 (hardcover), ISBN 0-912986-21-2 (paperback)
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<references/>
*Steinhauser, Karl: EU - huomispäivän super-Neuvostoliitto, ISBN 951-97105-0-7
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==External Links==
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:[http://www.federalreserve.gov/ Board of Governors of the Federal Reserve System]
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[[category:United States]]

Revision as of 18:30, 6 May 2007

The Federal Reserve headquarters in Washington, DC.

The Federal Reserve (also known as The Fed) is a central banking system that controls the monetary system of the United States. Although it acts with the authority of the government, the Federal Reserve is not an official government agency. It was established by President Woodrow Wilson in 1914. Although the Constitution says that only Congress has the authority to print money, the Federal Reserve issues currency that is not based on the original gold standard.[1] The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is Ben Bernanke, his predecessor was Alan Greenspan.

The main job of the Federal Reserve is to control inflation by regulating the free market.[2] One of its main functions is to set the amount of money that banks must keep in reserve and to set the interest rates for money it lends to banks.

Federal Reserve banks are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Kansas City, St. Louis, Minneapolis, Dallas, and San Francisco.

References


External Links

Board of Governors of the Federal Reserve System