federalreserve.GOV
Moderator: Global Moderator
federalreserve.GOV
Anyone else think it's weird that a non-government entity would be able to register a .gov url? Additionally, it seems a bit misleading to call it a "Board of Governors" when for all intents and purposes they are a "Board of Directors." Admittedly I don't have any cool conspiracy theories to share, just an observation. Although I am pretty certain it's a deliberate decision to muddy the waters a bit.
Re: federalreserve.GOV
Wonk,
What is your definition of governmental entity?
What is your definition of governmental entity?
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
A: “Not unless round is funny.”
Re: federalreserve.GOV
1. Audited by the GAOMediumTex wrote: Wonk,
What is your definition of governmental entity?
2. Accountable to citizens of the United States.
Re: federalreserve.GOV
They are government when they want to be and non-government when they want to be. Just depends on what policy goals they want or public heat they are looking to avoid.
An historian on the Fed described it as a 100% political animal in an interview (search econtalk). I agree. They are what they need to be when it suits them but ultimately they will do what they are told by those in power.
An historian on the Fed described it as a 100% political animal in an interview (search econtalk). I agree. They are what they need to be when it suits them but ultimately they will do what they are told by those in power.
Re: federalreserve.GOV
Even a super-secret black-ops sector of the CIA that's known about by almost nobody is a governmental entity in my book. If the president nominates the chairman, and the entity can purchase treasuries and other assets with nonexistent money, it's definitely not a unit of the private sector.
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds."
- Thomas Paine
- Thomas Paine
Re: federalreserve.GOV
I think the Fed has all the attributes of a governmental entity.
1. It is inefficient
2. It seeks to consolidate its power and maintain the monopoly in the areas in which it operates (i.e., price fixing of interest rates)
3. It is not subject to the oversight of an enforcement or rulemaking agency.
4. It is not constrained by costs or the need to show a profit.
5. If you choose not to do business with it (e.g. if you decided to try out another monetary system of your own creation), the coercive power of the state can be used against you.
In what ways is it NOT like a governmental entity?
1. It is inefficient
2. It seeks to consolidate its power and maintain the monopoly in the areas in which it operates (i.e., price fixing of interest rates)
3. It is not subject to the oversight of an enforcement or rulemaking agency.
4. It is not constrained by costs or the need to show a profit.
5. If you choose not to do business with it (e.g. if you decided to try out another monetary system of your own creation), the coercive power of the state can be used against you.
In what ways is it NOT like a governmental entity?
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
A: “Not unless round is funny.”
Re: federalreserve.GOV
It's officially considered to be, "independent within the government." 
http://www.federalreserve.gov/generalin ... qfrs.htm#5
http://www.federalreserve.gov/generalin ... qfrs.htm#5
Nothing I say should be construed as advice or expertise. I am only sharing opinions which may or may not be applicable in any given case.