The Dollar and Fed Interests
A dollar is a worthless dollar?
The dollar is a fiat currency which takes the form of a US Federal Reserve note. This note is a monetary instrument issued by a central bank, the Fed.
Fiat currency or the dollar, as it is not backed by gold or other species of value, is money issued by a central bank with no intrinsic value other than the paper it is printed on.
The dollar is not issued directly by the US government, it is issued by the Fed. This means that the full faith and credit of the nation is not directly behind the dollar.
Who Owns Who?
From Robert Rubin (Goldman Sachs, #70) to Hank Paulson (Goldman Sachs, #74), the US Treasury Secretary has represented Wall Street and the banking communities interests. But did you know?
The Fed issues US dollars and although some 98% of the profit made by the Fed goes to the US Treasury by law...
The Federal Reserve is legally owned by its member banks, not the government, or the people.
Board members of the Fed are nominated by the member banks and appointed by the US president.
Given the above, which sectors special interests do you think the Fed represents in its dealings with the dollar?
The dollar is a fiat currency which takes the form of a US Federal Reserve note. This note is a monetary instrument issued by a central bank, the Fed.
Fiat currency or the dollar, as it is not backed by gold or other species of value, is money issued by a central bank with no intrinsic value other than the paper it is printed on.
The dollar is not issued directly by the US government, it is issued by the Fed. This means that the full faith and credit of the nation is not directly behind the dollar.
Who Owns Who?
From Robert Rubin (Goldman Sachs, #70) to Hank Paulson (Goldman Sachs, #74), the US Treasury Secretary has represented Wall Street and the banking communities interests. But did you know?
The Fed issues US dollars and although some 98% of the profit made by the Fed goes to the US Treasury by law...
The Federal Reserve is legally owned by its member banks, not the government, or the people.
Board members of the Fed are nominated by the member banks and appointed by the US president.
Given the above, which sectors special interests do you think the Fed represents in its dealings with the dollar?
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