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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: r.edwards who wrote (33944)	3/19/2001 2:11:48 PM
From: Dave	Read Replies (2) \| Respond to of 65232

The legislative,executive, and judiciary branches of govt. are really now superceded by the non- accountable actions of Greenspan knowingly raising interest rates six times consecutively conjuctive with a doubling of energy prices. Greenspan's actions are not supposed to be accountable to the government. They are supposed to be accountable to the Federal Reserve System. Despite its public-sounding name, the Fed is a privately owned commercial venture, to whom our government owes trillions of dollars. The interest that the Fed earns on that debt is tax-free, by the generous terms of the Federal Reserve Act. Greenspan's job is simply to maximize the Fed's interest income. Thus, he wants interest rates to be as high as possible. When he lowers, he is taking money out of the pockets of his fabulously wealthy employers. Three U.S. presidents have attempted to eliminate the Federal Reserve System: Jackson, Lincoln, and Kennedy. It didn't go so well for them. Dave