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Arise, you have nothing to lose but your barbed wire fences!

1996-11-12 - Re: Not. [Was Re: Federal Reserve Bank is ILLEGAL?]

Header Data

From: Dale Thorn <dthorn@gte.net>
To: “Michael Froomkin - U.Miami School of Law” <froomkin@law.miami.edu>
Message Hash: 9669561668c155044e1896e298bf9f31054f455df752f7cb73ce0ed32166c9e0
Message ID: <3288274E.6671@gte.net>
Reply To: <Pine.SUN.3.95.961111094329.3168B-100000@viper.law.miami.edu>
UTC Datetime: 1996-11-12 08:45:17 UTC
Raw Date: Tue, 12 Nov 1996 00:45:17 -0800 (PST)

Raw message

From: Dale Thorn <dthorn@gte.net>
Date: Tue, 12 Nov 1996 00:45:17 -0800 (PST)
To: "Michael Froomkin - U.Miami School of Law" <froomkin@law.miami.edu>
Subject: Re: Not. [Was Re: Federal Reserve Bank is ILLEGAL?]
In-Reply-To: <Pine.SUN.3.95.961111094329.3168B-100000@viper.law.miami.edu>
Message-ID: <3288274E.6671@gte.net>
MIME-Version: 1.0
Content-Type: text/plain


Michael Froomkin - U.Miami School of Law wrote:
> Instead of reading the rabid nonsense referred to in the previous post in
> this thread, try
> http://www.law.miami.edu/~froomkin/articles/reinvent.htm
> wherein it is revealed that (gasp!) the Federal Reserve is an independent
> federal agency, but that (private) federal reserve banks have five of the
> twelve votes (the rest belong to government officials) on the Open Market
> Committee, an important policy-setting body that has an influence over the
> money supply.  Incidentally, this practice was upheld in Melcher v.
> Federal Open Mkt. Comm., 644 F. Supp. 510 (D.D.C. 1986).

[snip]

Are the other 7 votes really "government officials" in the strictest sense,
with no significant ties to the banks?

Thread