DrCap
Member
- Joined
- Jan 1, 2008
- Messages
- 516
Live Free or Die
"Great Britain was loosing gold to the U.S. at an alarming rate, and the officials of the Fed sought to save the British from embarassment by deliberately debasing our own currency... The governors of the other eleven Federal Reserve banks were called to Washington [in 1927]. They were not dealt with honestly. They were told that the proposed cheap money move was to 'help the farmer.' ... The Chicago Federal Reserve Bank was suspicious and disapproved ... The Chicago bank refused to reduce its rate. But the Federal Reserve Board at Washington overrode the Chicago Federal Reserve Bank, and by action of the board, not of the bank, the Chicago rate was reduced..."
The Incredible Bread Machine.
Just sent what used to be 5 troy ounces of gold to RP (it's becoming a worthless piece of paper anyway).
"Great Britain was loosing gold to the U.S. at an alarming rate, and the officials of the Fed sought to save the British from embarassment by deliberately debasing our own currency... The governors of the other eleven Federal Reserve banks were called to Washington [in 1927]. They were not dealt with honestly. They were told that the proposed cheap money move was to 'help the farmer.' ... The Chicago Federal Reserve Bank was suspicious and disapproved ... The Chicago bank refused to reduce its rate. But the Federal Reserve Board at Washington overrode the Chicago Federal Reserve Bank, and by action of the board, not of the bank, the Chicago rate was reduced..."
The Incredible Bread Machine.
Just sent what used to be 5 troy ounces of gold to RP (it's becoming a worthless piece of paper anyway).