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To: MeanWestTexan

With a ten percent reserve requirement you couldn't stand half a days run to begin with.

You may find the true history of the Fed's creation less than comforting, but only if you've got the intellectual honesty to give it a shot. And it's a video.

http://mises.org:88/Rothbard-Fed


55 posted on 05/02/2006 1:02:39 PM PDT by Marxbites (Freedom is the negation of Govt to the maximum extent possible. Today, Govt is the economy's virus.)
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To: Marxbites

Um, a bank doesn't have to rely on its own reserves. It's communal. And assuming not everyone is stuffing cash under mattresses (but putting it in their own banks), the system has upwards of 95% reserves.

That's why it's called a federal reserve "system."


59 posted on 05/02/2006 1:07:16 PM PDT by MeanWestTexan (Many at FR would respond to Christ "Darn right, I'll cast the first stone!")
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