Athena
06-29-2006, 10:59 AM
Perhaps what separates the US most from Muslim countries who see the US as a threat is, the Federal Reserve, and power of this banking system.Â*Â*The power of this system is directly tied to the military might of the USA.
The Federal Reserve System was established in 1913 when Congress passed the Federal Reserve.Â*Â*Previously, many banks had failed in each financial panic or business depression.Â*Â*The FDS enabled banks to borrow money temporarily to meet seasonal and sudden demands from depositors.Â*Â*A major FDS function was to improve bank supervision and credit conditions.Â*Â*The power to issue bank notes was also transferred from privately owned to Federal Reserve Banks.Â*Â*
This system is very important to capitalism, and the arguement of the right and wrong of it is as old as the debates between Hamilton and Jefferson.Â*Â*I hope we can make pro and con arguments.Â*Â*
Of course the powers of the FDS have greatly increased since the beginning.Â*Â*And interestingly, the national income tax followed close on the heels of the FDS.Â*Â*When we better understand these things, we will better understand our international conflicts, and when people understand their problems, they have a change of resolving them.Â*Â*Â*Â*Â*Â*
The Federal Reserve System was established in 1913 when Congress passed the Federal Reserve.Â*Â*Previously, many banks had failed in each financial panic or business depression.Â*Â*The FDS enabled banks to borrow money temporarily to meet seasonal and sudden demands from depositors.Â*Â*A major FDS function was to improve bank supervision and credit conditions.Â*Â*The power to issue bank notes was also transferred from privately owned to Federal Reserve Banks.Â*Â*
This system is very important to capitalism, and the arguement of the right and wrong of it is as old as the debates between Hamilton and Jefferson.Â*Â*I hope we can make pro and con arguments.Â*Â*
Of course the powers of the FDS have greatly increased since the beginning.Â*Â*And interestingly, the national income tax followed close on the heels of the FDS.Â*Â*When we better understand these things, we will better understand our international conflicts, and when people understand their problems, they have a change of resolving them.Â*Â*Â*Â*Â*Â*