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The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.[2][3][4] Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved Events such as the Great Depression were major factors leading to changes in the system.
Originally posted by MIDNIGHTSUN
China hasn't given in to Capitalism, the state still owns 50% of the market. Besides, China still owns its own Central Bank unlike America. Please do your homework first. Every corporation that goes into China has to form a partnership with local companies. China plan on gaining enough knowledge than kicking the corporations from behind and cheating them.edit on 11-7-2011 by MIDNIGHTSUN because: (no reason given)
Originally posted by FoxStriker
I don't believe you can see what I'm talking about, China doesn't have enough gold or silver to back their economy, and neither do we... You didn't read my post in its entirety, It's about the fact that China has taken debt that is backed by nothing but the federal reserves say so...
Hence joining the ever growing encompasing debt that the US has... its no more different than a tentacle reaching into their pocket. I'm not saying China is ignorant, I'm saying that in the long run our Government and Nations will have little say compared to the ever growing Corporations, Industrialist and Bankers...
Originally posted by MIDNIGHTSUN
Originally posted by FoxStriker
I don't believe you can see what I'm talking about, China doesn't have enough gold or silver to back their economy, and neither do we... You didn't read my post in its entirety, It's about the fact that China has taken debt that is backed by nothing but the federal reserves say so...
Hence joining the ever growing encompasing debt that the US has... its no more different than a tentacle reaching into their pocket. I'm not saying China is ignorant, I'm saying that in the long run our Government and Nations will have little say compared to the ever growing Corporations, Industrialist and Bankers...
China's debt is invested in infrastructure, which is good debt. America's debt is invested in wars, and that is bad debt. They are completely different.
All China has to do is declare to go on the gold standard and all currency flow will flow out of the united state to China. The U.S. has zero gold compare to China.