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  • From: John Harvey <johnharvey@earthlink.net>
  • To: permaculture <permaculture@lists.ibiblio.org>
  • Subject: Re: [permaculture] The Fed
  • Date: Thu, 10 May 2007 08:28:25 -0500

Martin, List

In a message dated 5/8/2007 7:05:23 P.M. Central Daylight Time,
martinwnaylor@yahoo.com.au writes:

Enlighten me who are the stockholders

The ownership of the Fed is controlled by Title 12 of the US Code enacted by the US Congress. For more details see the wikipedia article at: http://en.wikipedia.org/wiki/Federal_Reserve#The_member_banks

Basically, member banks are required to "purchase" shares in the Fed based on their deposits and assets. The interest paid on these shares is fixed at 6% by law. The creation of the FED was intended to prevent bank failures by forcing banks to have a prudent reserve (i.e. their share of FED "ownership"). History is replete with unexpected results. Personally, even though I don't like most of what the CIA does, I like their term for unintended consequences, "blow back."

Anyone who is unhappy with the "blow back" of the Federal Reserve System and wants to change the system, needs to expand their circle of influence.

Fearless Change: Patterns for Introducing New Ideas, a book written by Mary Lynn Manns and Linda Rising, describes a pattern language for implementing change. One example in Fearless Change is the founding of the Muscular Dystrophy Association, a powerful grassroots movement using techniques described in this book.

BTW Mary Lynn Manns teaches at the University of North Carolina at Asheville manns@unca.edu. Linda Rising has written two other books about using patterns to improve software development.

Respectfully,

John Harvey,
A Peripatetic Peircean

"A good book is the plectrum with which our else silent lyres are struck."
--Thoreau, A Week on the Concord and Merrimack Rivers (ed. Bode 1964, 226-7)
quoted by Gary Fuhrman (aka gnox) in Beginning Apocalypse http://users.xplornet.com/~gnox/bgn.htm



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