Discussion in 'The Bar' started by Napoleon V2, Sep 28, 2013.
since it has one
Most countries have a central bank. It is the equivalent to the Bank of Canada.
Do you know why there is a Bank of Canada?
If so you know why the U.S. has the Federal Reserve.
It serves two purposes, and two purposes only.
1.) Keep inflation low.
2.) Keep unemployment low.
They do this by adjusting interest rates on US Treasury Bonds, which have been at about 0% for the past couple of years.
the BoC answers to the Government of Canada though
thank you for providing an answer
Wha...you don't think the Federal Reserve answers to the U.S. Government?
Who do you think appoints the Fed Reserve Chairman?
Why are Fed Chairmen always testifying before Congress?
WHICH are the essential functions of all Central Banks.
this thread is here to educate
Ok, the President appoints and "retires" the Fed chairman at will and the Fed answers to the U.S. Government.
in case some financial shit happens & shit
The Federal Reserve is not a bank, it is a conglomerate of bankers. The are not monitored by the government. They have no one to answer to. It should be abolished
I liked the first section, but that shit on the Fed was all fucked up.
No I have my own mind about this stuff.
the Federal Reserve answers to the govt of the USA.
and the USA govt is run by the large commercial banks.
why? do you like economic depressions?
That is what said!!
Everything is fine.
look at the economies of countries where the govt runs their central banks: for example Greece, Italy, France, Russia.
I prefer our system.