From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Sat Dec 06 2003 - 01:06:29 EST
Paul, is Fed a profit making institution? And if so, who receives its profits? If Fed is issuing currency in the same manner as central banks all over the world, then what is the specificity of Fed in this case? Cheers, ajit sinha --- Paul Zarembka <zarembka@BUFFALO.EDU> wrote: > --On Friday, December 05, 2003 3:43 AM -0500 > gerald_a_levy > <gerald_a_levy@MSN.COM> wrote: > > > For some > >| 30 years, the President himself held the power to > issue silver > >| certificates. But some 5 months before his > assassination, Kennedy > >| delegated this power to Dillon, and Dillon could > do as he pleased with > >| this power. To assert that Kennedy was by > Executive Order No. 11110 > >| getting ready to issue silver certificates is > contrary to the plain > >| facts. Instead, Kennedy was surrendering this > power and delegating it to > >| the Treasury Secretary, who then (and as always) > has been someone from > >| the banking industry. There is no substance to > this theory on the Net. > > Thanks, Jerry, for this. Assuming the whole report > is accurate, I don't > think the conclusion that Kennedy "surrendered" a > President power is a > correct interpretation. The appt. of Treasury Sec. > is a Presidential appt. > More accurate would be to say he "delegated" a > power, a delegation itself a > President could withdraw. > > Still, I have to ask what is going on here. What is > it with the Treasurer > issuing $ in 'competition' with the Fed? This > doesn't seem at all trivial. > And I cannot remember the last time I saw a Treasury > $ bill. Thus, during > what period did we see the issuation of new Treasury > $ bills? > > Paul > > *********************************************************************** > RESEARCH IN POLITICAL ECONOMY, Paul Zarembka, > editor, Elsevier Science > ******************** http://ourworld.compuserve.com/homepages/PZarembka __________________________________ Do you Yahoo!? New Yahoo! Photos - easier uploading and sharing. http://photos.yahoo.com/
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