-Caveat Lector-
In a message dated 10/16/99 12:56:49 PM Eastern Daylight Time, [EMAIL PROTECTED]
writes:
> Like many others, this Federal Reserve myth is also incorrect. Schauf and
> the Coalition err in the argument by ignoring entirely the funds rebated
> from
> the Fed to the Treasury each year. This key detail essentially means that
> the bonds held by the Federal Reserve are interest-free loans to the
federal
> government -- the equivalent of printing money. Federal Reserve Notes do
> not
> cost the Treasury any net interest. Indeed, Mr. Schauf, the numbers do not
> lie.
>
One other comment here. Since there "is no difference" between US Notes and
Fed Reserve Notes then why bother with a Federal Reserve in the first place?
The FED is not a-political, and it acts very much as a political entity. If
these are interest free loans then why would anyone which to have an interest
in the Federal Reserve system, since there would be no ability to make any
money? A poor investment, no?
no?
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