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Fed Said to Retreat From Seeking Power to Sell Its Own Bills

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posted on Jun, 9 2009 @ 09:11 AM
link   
Here is a link to this story.

www.bloomberg.com...

The way I understand this story is that the FED wants the ability to loan out it's own dollars. I was under the impression that the FED already loaned out currency under the fractional reserve system as well as loaned out currency to the federal government. Can anyone explain the pricipals behind this and exactly what it would mean if the FED were allowed to do this?

THank you.



[mod edit: fixed link]

[edit on 9-6-2009 by 12m8keall2c]




posted on Jun, 9 2009 @ 09:25 AM
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reply to post by photobug
 


Bad link,

that said, it is my limited understanding that dollars are printed by the treasury and given to the fed to loan out @ given interest rate.

The Fed is a "PRIVATE" corporation and has profits of billions every year.

I believe the fed wants to be able to sell debt, as opposed to dollars.

I believe this is the link you tried to post:
www.bloomberg.com...]B loombergnews




[edit on 6/9/2009 by mrmonsoon]



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