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Originally Posted by Xandufar
.............Interesting point. I read the Federalist Papers years ago, and I was thinking, "I bet Hamilton did not write No. 44." He would have said no such thing. James Madison wrote that.
Nonetheless, the government has maintaned the power to prints bills of credit, through the Treasury Department, but it essentially allows the Federal Reserve to "regulate the value thereof." All new bills of credit are passed through the Federal Reserve, first. Hence the Federal Reserve determines who gets to spend them, first.
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Very good info. Xandufar, best I've seen on here in a while. Do you read about economics frequently?
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Last edited by commonsense; 09-07-2008 at 08:12 PM.
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