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Additional Focus For Book
Wed, 08/27/2008 - 07:22 — Walt Thiessen
One thing I'm thinking we need to emphasize in our online book is the fact that the Fed's primary motivation is not to keep the money supply stable and the economy strong. Rather, its real primary purpose is to maximize income for its true masters...the banking industry. This isn't going to be an easy point to defend, because the Board of Governors and the various boards of directors of the 12 member banks are all politically appointed. Nevertheless, I've been looking at some of the names on those boards, and while they draw some of their board members from various industries, the overwhelming majority come from the banking industry.
What do you all think about this?
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