Federal Reserve
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The current Central Bank of the United States is the Federal Reserve founded in 1913.
Your supervisor came into the office this morning very upset. He informs you that he attended a meeting the previous evening where he learned that the Federal Reserve was organized, illegally, through a conspiracy of private citizens; many included rich industrialists from Europe. He also discovered that the sole purpose of the Federal Reserve is to make money for these rich industrialists. He asks you to research the Federal Reserve and answer three questions:
Is the Federal Reserve a legal entity?
What influence has it had on financial markets, especially this last year?
Would the country be better off without a Federal Reserve?
Need some assistance with these three questions. Thank you.
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Federal Reserve
The current Central Bank of the United States is the Federal Reserve founded in 1913.
Your supervisor came into the office this morning very upset. He informs you that he attended a meeting the previous evening where he learned that the Federal Reserve was organized, illegally, through a conspiracy of private citizens; many included rich industrialists from Europe. He also discovered that the sole purpose of the Federal Reserve is to make money for these rich industrialists. He asks you to research the Federal Reserve and answer three questions:
Is the Federal Reserve a legal entity?
The Federal Reserve is a legal entity because it was created by the enactment of a law. The law was the Federal Reserve Act. It is a government entity but has some private components. The president of the US appoints the Board of Governors. It is not a conspiracy of private citizens. The purpose of forming the Federal Reserve is not to make money for the rich industrialists but to act as a central bank. That is the banker of banks. In addition, it is the custodian of federal funds. Most importantly, it carries out the responsibility of the government with regards to private banks.
In addition, the Federal Reserve strengthens the position of the US in the global economy. It ...
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