[blankall]

Originally Posted by mikey_the_redneck

Blankall, check this out. This is a quote from Alan Greenspan

This week, former chairman of the Fed Reserve Alan Greenspan in an interview aired on PBS' News Hour was asked by Jim Lehrer what should be the proper relationship between a chairman of the Fed and The President of the United States. In a shockingly honest tone Greenspan replies,

"Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter."

Yes, the Federal Reserve Act was passed by Congress right before the christmas break in 1913.........but they have had little influence in Fed decisions since then. Its funny that just a few years later the Lucitania(which theres is evidence that the U.S. was warned by the Germans that any ships in English waters would be sunk) was sunk and the U.S. entered WW1, and had to borrow money from the Fed.........

Just because the federal reserve bank is an "independent agency" does not mean it is not a part of the government. Do you know what else is an independent agency..... the court system.....law enforcement... in fact it is a principle of democracy that government systems remain independent of one another. It stops tyrancy.