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To: Partisan Gunslinger
The Federal Reserve is a bank.

Contradicting yourself again. lol

Nope. The Federal Reserve, the Central Bank of the US is a bank.

356 posted on 01/01/2014 4:10:04 PM PST by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot; Partisan Gunslinger
"The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.[3][8] Events such as the Great Depression were major factors leading to changes in the system...

In its role as the central bank of the United States, the Fed serves as a banker's bank and as the government's bank. As the banker's bank, it helps to assure the safety and efficiency of the payments system. As the government's bank, or fiscal agent, the Fed processes a variety of financial transactions involving trillions of dollars. Just as an individual might keep an account at a bank, the U.S. Treasury keeps a checking account with the Federal Reserve, through which incoming federal tax deposits and outgoing government payments are handled. As part of this service relationship, the Fed sells and redeems U.S. government securities such as savings bonds and Treasury bills, notes and bonds. It also issues the nation's coin and paper currency. The U.S. Treasury, through its Bureau of the Mint and Bureau of Engraving and Printing, actually produces the nation's cash supply and, in effect, sells the paper currency to the Federal Reserve Banks at manufacturing cost, and the coins at face value. The Federal Reserve Banks then distribute it to other financial institutions in various ways.[35] During the Fiscal Year 2008, the Bureau of Engraving and Printing delivered 7.7 billion notes at an average cost of 6.4 cents per note."

Source: Wikipedia

357 posted on 01/01/2014 4:16:35 PM PST by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: Toddsterpatriot
Nope. The Federal Reserve, the Central Bank of the US is a bank.

A bank that doesn't lend, as you said in post 341. lol

360 posted on 01/01/2014 4:25:50 PM PST by Partisan Gunslinger
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