If the framers of the Constitution were alive today they might be surprised by t
ID: 3838806 • Letter: I
Question
If the framers of the Constitution were alive today they might be surprised by the federal government’s role in the economy, world stage, and our personal lives. Today, the federal government has assumed a role much different from what they expected. Which aspect of the federal government’s current activities would most surprise them? Why? Is there any way to reconcile their views with the expectations modern America has for the federal government? How could this be accomplished? Should this effort be undertaken?Why has it not been accomplished?
Explanation / Answer
The federal reserve system is a part of the U.S. goverment or
is a private organization.
The federal reserve system is essentially dominated and controlled
by private financiers not our government.
The federal is more accurately seen as a private.
Most Americans understand that the Federal controls our
money system, but they believe its part of the government,
as would be expected of any organization holding that much power
over the destiny of our country.
most Americans are surprised to learn that almost
all of what we use for money is not issued by our government,
but by private bank.
The Federal Reserve consists of 12 regional Federal Reserve banks with the directors of board.
There are no shares of the Washington Fed Board organization.
Private ownership does not guarantee private control – they can be two
different things. Although ownership of the fed is admittedly private in a restricted way,
it is control which is the more important factor in regarding the Fed as private, not governmental.
the Federal Reserve must work within the framework of the overall objectives of economic and
financial policy established by the government.
Therefore, the Federal Reserve can be more accurately described as “independent within the government