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To: L,TOWM

The whole purpose, and sold bill of goods of the Federal Reserve was that it would keep the value and supply of money steady, and there would be no wild swings in the economy.

Kind of a capitalist, scientific Marxist money management.

Well, how’s it worked so far?


16 posted on 05/10/2009 7:14:48 AM PDT by Leisler ("It is terrible to contemplate how few politicians are hanged."~G.K. Chesterton)
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To: Leisler

About the same as it worked in the 1800’s without a central bank. Next question?

BTW, the “steady money supply” was a minor part of the Federal Reserve sales job in 1913. What really sold it was the availability of liquidity to correspondent banks. That has worked fine.


52 posted on 05/10/2009 9:57:20 AM PDT by L,TOWM (Liberals, The Other White Meat)
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