Doesnt the government appoint the chairman of fed. reserve?
Arent there tender laws forcing us citizens to ur FRB notes?
“Since people are concerned that ‘X’ will not be provided, ‘X’ will naturally be provided by those who are concerned by its absence.""The sweetest of minds can harbor the harshest of men.”
I see wat u did dere.
So in reality, if we got rid of legal tender laws and let anyone use their own type of currency, it would be just as good as abolishing the fed?
The legal tender law gives the fed its monopoly status?
edited to add: I may have misled you a bit, because the fed does create electronic dollars. I think congress has the power over money and they delegated it to the "private" federal reserve bank. Also note that the fed itself equivocates on its public/private status, sometimes in the same trial. "for the purposes of X statute, the federal reserve is private. For the purposes of Y statute, the federal reserve is public."
It means them evil banksters be controlling our gubmint, so its not really our gubmint's fault.
Officially, the Fed is private.
But when you look at it...how on earth could it be? How is that monopoly maintained? Oh yeah, because it's private status is only for show.