From: joshb@xs4all.nl   
      
   On 2007-02-18, teebus  wrote:   
   > The Federal Reserve is a Publicly Owned, Federal Government   
   > institution.   
   >   
   > True or False?   
   >   
   > Please respond/post simply T or F   
   >   
   > Please take your best guess before you look it up and if/after you   
   > look up the answer please do not post the answer here.  No shame in   
   > not knowing the answer to this off the top of your head; should  be   
   > interesting for all to see the unaided results of this question   
   > regarding an institution of great importance to all US citizens and   
   > the worlds economy.   
      
   F.   
   I thought it was run by a mixture of private interests (banks) and   
   some govermnent appointed people, with the weight on private interests ?   
      
   But having a publicly owned Federal Reserve probably isn't enough: when   
   you want to engage in financial government for the common interest and   
   use the federal reserve "for doing good", that does not prevent private   
   capital from financial/managerial rebellion and flight. They would have   
   to in order to protect their wealth, diversify to other currencies etc,   
   and try to politically sink the government.   
      
   What is needed is at least 3 things (?):   
   1. money is created/destroyed at will in the common interest by the   
      government,   
   2. all significant private capital is collapsed (becomes worthless)   
      to prevent the rich their financial rebellions,   
   3. and ownership of (major) companies goes from stock market gamblers   
      and inheritance-aristocracy to the democracy of workers of those   
   	 companies.   
   I think that a great way to collapse the financial power of the rich   
   is to suddenly change the currency, and only transplant acceptable   
   levels of capital (and debt) into the new currency, so to protect   
   the common man. This would leave the government with a capital monopoly,   
   and a situation in which it can actually pursue its democratic agenda.   
      
   Please comment. Do you agree [Y/N] ?   
   --   
   http://www.xs4all.nl/~joshb/democracy.html   
      
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