> We established a national bank long ago. > What do you think the federal reserve BANK is?
Nearly every industrialized nation in the world has a central bank of some kind which serves the same functions as the Federal Reserve: * Increase or decrease the money supply * Set base interest rates * Act as the central bank for other banks * Act as a lender of last resort for banks in trouble * Hold reserves that banks are required to keep on deposit You, as a citizen, cannot walk up to a Federal Reserve branch and open an account. The Fed acts as the hub of the banking system, but that is far from a "national" bank which citizens are required to use on a daily basis. Competition in the banking industry is alive and well. -Justin ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:316560 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
