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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 05/18/2008 : 17:07:11
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If you show up expect to be told the FED is a bank to the banks and not the people.
Please get things correct.
The FEDERAL RESERVE (FED) is the bank the United States uses. When Uncle Sam wants more money they ask the FED for money and the FED prints all the dollars USD or $US that Uncle Sam wants and then loans it to the people of the United States for interest. The FED is Private and controls all the Banks in the United States, either directly or indirectly. This was created by act of Congress during the Christmas break in 1913, rather underhandedly from what I can discover. Remember the FED is also part of the IMF which is made up of the Central Banks of the countries around the world.
The U.S. MINT is part of the Executive Branch of the United States, this means it answers to the President. The coins struck by the Mint have been dictated by what Congress tells the President to mint, this is a constitutional power. This is part of the discussion right now; will we have steel cents and nickels?
In short the Fed controls the Money, and the banks.
The mint controls the coins.
I think this is one reason why the SBA, Sacagawea and presidential dollars keep failing. The mint makes millions of these, but the FED doesn't pick them up, doesn't deliver them, and basically sees it as competition.
Its liking having McDonald's and Wendy's. Wendy's and can make and sell all it wants, but McDonald's makes and sells, but is the only distributer. How long will Wendy's hold out? In the case of the mint, nearly a hundred years, but I doubt much longer.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Getting coins from the Federal Reserve Possible?
Forum Locked
Posted - 05/18/2008 : 16:42:53
