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The United States Treasury And The Federal Reserve

2009 words - 8 pages

Moira Mitchell Honors Gov and Law 9/12/13The U.S. Treasury and the Federal ReserveMany things drive the human race. The primal instincts, hunger, sex, and shelter no longer need to be fought over in our day and age. One thing has changed the timeless struggle of man for survival, something that we see, deal with and live within our day to day lives. Money. A man no longer has to spend days stalking, tracking, and hunting to put food on the table and in the belly of himself and his family. He can just go to the supermarket and purchase food. He no longer has to pursue a woman, woo her, impress her, just to satisfy his carnal urges. He can go to a street corner (or Amsterdam), and pay somebody to warm his bed with him for the night. He no longer has to spend months searching for a dry, safe area, well protected from the elements and predators. He doesn't have to change that area, build it up, until he has created a habitable living space. He can just purchase a house from a realtor. We spend our lives learning skills that would have little or no use to us in the wild, the real world. We learn our numbers, our languages, and our history; so that we can spend our lives slaving away at some big picture we can't see, selling our lives away for money. We go against our instincts, enter a spirit breaking, hope crushing, menial corporate machine for sometimes as little as $8 an hour. We do this all for money. Yet this paper god, this panacea, this routine part of our days, of our lives is rarely spared a second thought as to its creation. To us it is just simply there. We do not wonder about where it came from, who controls this necessity that can give us all. We do not wonder why 100 pennies are equal to 20 nickels, or 4 quarters, or a dollar. But, if you are special, if you are unique, maybe you have. And I am prepared to give you the answers.The Federal Reserve is the central bank in the United States. A central bank is a bank that manages a countries (in this case the United States) money supply, state currency, and interest rates. The U . S . Congress established three key objectives for monetary policy in the Federal Reserve Act: Maximum employment, stable prices, and moderate long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. There are 12 district reserve banks spread all across the country. What are they? Federal Reserve Banks are the tentacles of the nation's central banking system. Many of the jobs these banks do for the government and other banks are similar to services provided by banks and to customers. Reserve Banks hold the cash reserves of banks and make loans to them. The Federal Reserve Act of 1913 required for all members to join the Federal Reserve System, and to transfer a percentage of their stock to the Federal reserve System. They move money, bills and change, into and out of circulation, and collect and process millions of checks each day. They provide checking...

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