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saved byliveinfreedom . on 2008-06-25

    • on 2008-06-25 Liveinfreedom
      N.A.S.A, America's Treasury, Printing Office, etc. are also 'quasi' government organizations that cannot be influenced by politicians. The U.S.A. Congress has law making authority over these organizations.
  • the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute
  • Therefore, the Federal Reserve can be more accurately described as "independent within the government
  • The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
  • The Federal Reserve's income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions (the rate on which is the so-called discount rate). After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.
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