Nobody ever gets this question right, to show how many are mis-informed/mis-lead! Try again to explain how Abe's Greenbacks Paper & ink went from $0.00 to how ever many unaccounted for or in circulation NOW!
2007-03-20 08:29:15 · 8 answers · asked by bulabate 6 in Politics & Government ➔ Other - Politics & Government
It is NOT the private Federal Reserve!
2007-03-20 08:32:10 · update #1
The first guy CLAIMS to a finance major.
2007-03-20 08:35:03 · update #2
Congress.
"To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures"
Article I Section 8.
2007-03-20 08:35:24 · answer #1 · answered by coragryph 7 · 1⤊ 1⤋
Currently the Federal Government spends more than they can tax us each year, entirely because they’re paying all of this revenue towards interest on previous years’ loans. So, what they do is have the Treasury print U.S. Bonds to exchange for loans from the privately owned Federal Reserve System.
The private Federal Reserve owners don’t have a trillion dollars to lend the Government, nor do they need it. All they do is create it, via a bookkeeping entry, and write a check to the U.S. Government as the loan in exchange for the U.S. Bonds. The U.S. Government banks at the Federal Reserve Bank so cashing this check is very easy.
The Government now spends this newly created money into the economy by paying the Court, Postal and Military employees, etc. These consumers then deposit their paychecks in a commercial bank, Bank of America for example. The commercial banks deposit their customers’ check (newly deposited money) at their local Federal Reserve Bank and the Reserve Bank allows the commercial bank to issue up to 33 times more new electronic money, some of which is used to cover the customers’ initial deposit. This is called "Fractional Reserve Banking."
2007-03-20 08:48:32 · answer #2 · answered by peepsmccoogan 2 · 0⤊ 1⤋
The Federal Reserve Bank
2007-03-20 08:36:45 · answer #3 · answered by Anonymous · 0⤊ 2⤋
The president. Presidents control the treasury, the military, the CIA, the NSA, the border patrol, the Justice Department, the INS, Homeland Security, the commerce department, etc..
Democrats lied to voters when they said they can change the course in Iraq.
Presidents also have the ability to write executive orders which give them control of the Federal Reserve.
2007-03-20 08:33:22 · answer #4 · answered by a bush family member 7 · 1⤊ 4⤋
The Rockefellers, Morgans and Rothechilds.
2007-03-20 08:46:53 · answer #5 · answered by Keith Olberdousche 1 · 0⤊ 1⤋
the fed reserve bank.
2007-03-20 09:48:18 · answer #6 · answered by Anonymous · 0⤊ 1⤋
bernanke and the federal reserve bank
2007-03-20 08:31:16 · answer #7 · answered by Shakespeare, William 4 · 1⤊ 2⤋
The guy operating the press.
2007-03-20 08:36:29 · answer #8 · answered by Crabboy4 4 · 0⤊ 2⤋