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National Monetary Commission

The Commission's reports became the basis for the Federal Reserve Act of 1913 creating the modern Federal Reserve system.

Tags: monetary, fedral, reserve, banking, central, banks on 2008-08-14 -All Annotations (0) -About

in list: America Economy; Taxes, Federal Reserve, Currency, Financial

more fromen.wikipedia.org

National Banking Act -- Comptroller of the Currency (OCC)

It encouraged development of a national currency based on bank holdings of U.S. Treasury securities. It also established the Office of the Comptroller of the Currency (OCC) as part of the Department of the Treasury.

Tags: banking, occ, federal, reserve, congress on 2008-08-13 -All Annotations (0) -About

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Federal Reserve System a Quasi Private Banking System Controlled by Congress

Federal Reserve System; the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute.

Tags: federal, reserve, congress, banking, financial, system, monetary, frb on 2008-08-13 -All Annotations (0) -About

in list: America Economy; Taxes, Federal Reserve, Currency, Financial

more fromwww.federalreserve.gov

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- 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.
  posted by liveinfreedom on 2008-06-25
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.