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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (4330)2/16/2008 9:12:39 AM
From: Giordano Bruno  Read Replies (2) of 71456
 
>The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.<

That's cute. -g-
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