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