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Politics : Ask Michael Burke
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To: Earlie who wrote (70898)11/22/1999 11:27:00 PM
From: Michael Bakunin  Read Replies (2) of 132070
 
The Fed is for-profit. While each district bank is nominally 'owned' by its member banks, 99% of the profits go to the Treasury. The rest is a myth. For origins and debunking, see:
cofc.edu

There's plenty wrong with the Fed, but being controlled by an international conspiracy of bankers isn't among them.

For more fun with capitalism, see all five parts of
sfgate.com

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