The federal reserve system is best described as aan?

Answer 1

A captive regulator of the banking industry. It is a collection of economists and bankers who decide the levels banks borrow money at. It acts as a central bank, recently with more discretion to give accommodating loans.

As a regulator it's independent of almost all oversight. It also tries to regulate unregulatable macroeconomics by extending credit when banks lend more money than they have.

...an oligarchy, an ultimate usurer, a digital money printer, and underwriter of all government debt.

Answer 2

government-owned bank It is not owned by the government, it is chartered by the government. This charter grants it permission to issue currency on behalf of the government. This makes the charter unconstitutional because that power is reserved to the government alone. There is no oversight of the Federal Reserve by the government, there never has been. It was created in response to a financial panic in 1907. The panic was created by an sudden contraction of the money supply by European Banks. Since the Fed controls the money supply of the US and that is the international reserve currency, the power to cause economic crisis is now vested in the Fed. Its actions are secret, so if it engineers a crisis the elected representatives who are SUPPOSED to be controlling this country may never know what was done. Below is a quote concerning the secrecy surrounding the Fed since its beginning, source cited in link below. Six years later, a financial writer named Bertie Charles Forbes who later founded the Forbes Magazine (the present editor, Malcom Forbes, is his son) wrote: "Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written . . . . The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled . . . Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry . . . . Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality."

Answer 3

The Federal Reserve is a "central bank" created by Congress. The Federal Reserve does not need the approval of any branch or the President to do anything. The Federal Reserve's main "job" is to print money, and just print, print, and print more . This causes a lot of inflation. The Federal Reserve is the cause of all inflation in the US and is responsible for the bursting of the real estate bubble.I am not going to go into full depth on the Federal Reserve because it would take hours to explain what it does and it's history. These are the basics.

Answer 4

federal insurance program

Sorry, but no.

The correct answer is: Government-Owned Bank.

Answer 5

government-owned bank