the federal reserve the AMERICAN peoples gold?
825059
It's more of a quasi-goverment institution than a private enterprise. There are elemernts of both private and public ownership which is part of the confusion.\n\nAt the top of the Federal Reserve system is the Board of Governors. These members are appointed by the president and confirmed by congress. There is no structure or mechanism for private ownership of the Board of Governors.\n\nThe 12 branches are organized like corporations where the member banks must purchase shares. Member banks can vote on 6 of the 9 branch board members.\n\nThe Board of Governors is responsible for monetary policy and oversight of the running of the 12 branches.\n\nThe branches are in charge of day-to-day operations as directed by the board.
809247
Ben Shalom Bernanke - Alan Greenspan's successor.  If he so much as sneezes the entire country will stop to listen.  After all, money talks and who else controls all the money in the country other than the Chairman of the Federal Reserve?
520928
the world is headed for a crisis- gold has an established history of being valuable in and of itself, so people switch from currency to gold if they feel that the currencies are unstable. it also means that people who understand market forces are seeing "other than hard value" commodities are a very high risk as they are "over" valued- and can't stay that way- also, the total debt of the US is staggering- and therefore what is there to back up the dollar? it's value is entirely theoretical- and won't stand in a crunch- so, buy gold, silver- have something on hand with real value.
1145664
market forces do play a part in the rates set by the fed.  the main concern of the fed is to balance inflation and growth of the economy.  If growth is too high and inflation rates spike, then higher rates cool things down.  It's a fine balancing act.
462610
Try the World Bank of the Federal Reserve
642519
Yes it is. And gold closed today at $700 and ounce. You made some money.
531233
nah. it's a vault in the US where we stash our gold bricks. that is why our currency has so much value
833102
Self and national aggrandisement seems to be culturally iconic in the U.S.  False consciousness is virtually a requirement for existance in any modern culture.\nWhat is the illusion of wealth? Do you mean that I owe more than I own but fool myself I am doing well? Or do you mean that as a nation, the american people tend to overlook the poverty (etc)within their own borders whilst asserting themselves as world leaders with a model social/economic/political system? Or are you referring to what is happening on a global scale?\nWhat do you mean by strong and successful and isn't it simply a matter of opinion?  America is a contradiction; a juxtaposition. From whence comes the expectation of streets paved with gold? Isn't that an elton john song? Or a biblical reference?
12723
The Fed's reserve requirement does not actually create money. Moreover, if you accept your arguments, the Fed is actually limiting the creation of money by requiring banks to keep more money in reserve than they otherwise would. The key problem with your argument is that the Constitution gives Congress the power to "coin money," which lending does not do. Lending allows people to use other people's money for a time. The money they are borrowing was coined by act of Congress, and the loan is repaid using money coined by act of Congress. The only money "created" is on paper.\n\nEdit: First, "to coin money" has a clear, physical meaning. There is no need to expand it into the more general sense of "to create money." Second, the framers of the Constitution clearly did not mean to eliminate the loan system which had been developing in America since long before even the Revolution, much less the Constitution, and continued even more strongly afterward. Third, the Federal Reserve Bank was created by act of Congress, and Congress observes and directs its governance, so the "creation of money" because of the Fed is through the direction of Congress, much like the physical coinage of money is not actually performed by Congress, but directed by Congress through the Bureau of Engraving and Printing. Finally, the "money" created by lending is not actually usable money. When person A lends $100,000 to person B, person A cannot use that money and has no money, only a promise of money in the future. $100,000 is still all the money that exists from the transaction.
644172
Gold is a pretty good standard. :) And it should be worth...well...gold.
219127
its not about gold anymore, countries dont have to back up there money with gold.\nIts all about market and macroeconomics.  Which one people feel more secure and use this countries bank instead, percieved value blah blah and then blah, also blah blah blh, cannot foget about blah blah ...
336828
First, it's worth it to say that no country uses the gold standard anymore.\n\nA gold standard is a money system in which the paper currency is worth a fixed weight of gold. In the U.S., back when dollars, half-dollars, quarters and dimes were really made of silver, nickels of nickel and pennies of copper (all precious metals), paper bills were actually Gold and Silver Certificates, meaning they were directly exchangeable for equivalent amounts of gold and silver, coins or otherwise.  \n\nEver notice that the edges of traditionally silver and gold coins are ridged?  This was to prevent people from "shaving" the coins, thereby reducing their weight and therefore, their value.  Remember, weight = value in the gold standard system.  A dime was 10 cents worth of gold/silver weight; a quarter, 25 cents worth of gold/silver weight, which accounts for the difference in size.\n\nUsing the gold standard means that there has to be enough gold in reserve to effectually "cash-in" all paper money in the system.  Fort Knox was and still is the United States' primary respository for gold.\n\nWhen a country abandons a hard currency system (i.e., the gold standard), it issues what is called a "fiat" currency.  Our Federal Reserve Notes are an example of a fiat currency.  This means that you can no longer exchange a paper note for gold or silver.  The value of our money is instead guaranteed by the government.  That's why our money states that it is legal tender for all debts public and private. That means that no one can refuse to accept a paper bill in payment for goods or services.  \n\nThat may not sound so ominous nowadays, but even back in the 1950's, I remember people who would adamantly refuse to accept change in fiat paper money (federal reserve notes).  The government really only facilitated the acceptance of federal reserve notes when it outlawed and recalled all Silver certificates in 1964.  All redemption stopped in 1968.  Gold Certificates were forfeit in 1933 and for a long time, except for collector coins, it was illegal for private citizens to hold gold or gold certificates.  \n\nSome currencies, like the U.S. dollar and the British Pound Sterling, because of their government's stability, eventually came to be seen as "hard currencies" in themselves.  Most other nations based or "floated" the value of their own currencies against the value of the U.S. dollar or the British Pound Sterling.\n\nTwo good sites to peruse about money and money systems are http://en.wikipedia.org/wiki/Fiat_currency\nand\nhttp://www.ronscurrency.com/
1164807
The failing of democracy was wrought by a hand full of global masters and the Federal Reserve System. This happened in 1913 as our government let a few banks with few masters control our money. He who makes the money makes the rules. Our new form of govenment will be fascism as we now see taking place. As you`ll see towards the bottom of my answer JFK tried to restore the country making it`s own money, but you may know what price he paid for the idea.\n\n In describing the FED, McFadden remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932: \n\n"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and he people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the misadministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it".\n\nA federal Reserve Note. \n\nThe swindle of the system is simple. The Federal Reserve Bank hires the US Treasury to print up some money. The Federal Reserve only actually pays the treasury for the cost of the printing, they do NOT pay $1 for each 1$ printed. But the Federal Reserve turns around and loans out that money (or credit line) to banks at full face value, those banks which have exhausted their deposits then loan that Federal Reserve fiat money to you, and you must repay it in the full dollar value (plus interest) in work product, even though the Federal Reserve printed that money for pennies, or created it out of thin air in a computer.\n\nAs the Federal Reserve overprints more money, the money supply inflates, and too much money starts chasing too few goods and services, which means prices go up. But contrary to the charade put on by the Federal Reserve, inflation doesn't just come and go due to some arcane sorcery. The Federal Reserve can halt inflation any time it wants to by simply shutting down those printing presses. It therefore follows that both inflation and recession are fully under the control of the Federal Reserve.\n\nOver time, that excess of printing has destroyed the value of that dollar you think you have. If you want to know by just how much, go out and try to purchase 371.25 grains of silver right now. Usually, the deterioration is gradual. Sometimes, it has to be obvious, such as the 1985 devaluation (done to halt the trade imbalance) which triggered the Japanese real-estate grab in this country.\n\nMany politicians have attempted to reverse this process. John F. Kennedy issued an Executive Order 11110, requiring the Treasury Department to start printing and issuing silver certificates for the silver then remaining in the US Treasury. \n\nKennedy decided that by returning to the constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money then loan it to the government at interest. This was the reason he signed Executive Order 11110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System.
1102521
Absolutely not.  If the government confiscated every ounce of gold in the entire world, gold would be worth $5000 an ounce.  No government today can say that its currency is backed by any such standard, nor has our government been capable of doing so for at least 60 years.
454338
Before Nixon took us "off the gold standard", the nation had gold reserves that were equal to, or more, than the amount of dollars in circulation.  So back then, money actually had a tangible value and was backed by the country's gold reserves.  Coming "off the gold standard" allowed the dollar to become more artificial and debt-ridden.
1105988
Gold has actually had a really good run recently.  Historically speaking gold has returned about the rate of inflation over the last 40 years.  So gold will do well, relatively speaking, in times of inflation.  Speculators will buy gold if they think inflation is coming and drive up the price.  So it's sensitive to speculation, as all commodities are.  Long term equities have proven to be a much better purchase.\n\nTo learn more about investing and finance you can listen to my podcast, the #1 rated in the world for personal finance.  It's www.promoneytalk.com\n\nHope this helps,\n\nJason
1112615
I remember a couple of things, but look these up to be factual. He allowed the dollar to float, it was on the silver standard and now it is autioned. He allowed privet ownership of gold, he opened free trade with China. Most of these things have hurt the U.S. A. as the dollar is no longer worth a dollar. The very rich are invested in gold and not into things that will help the country grow and you are living the result of free trade with China. That has cost many American jobs. I hope this helps.