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<p>[QUOTE=&quot;jolumoga, post: 1855913, member: 41780&quot;]I think the argument about the Fed tends to devolve into semantics -- the shareholders, as I understand it, are largely individuals with concentrated positions in regional and large banks.&nbsp; This might not make sense at first until you realize that the banking industry is today very concentrated and uncompetitive from a free market standpoint.&nbsp; Yes, Fed officials are appointed by government officials, but there&#039;s no doubt private banks have a lot of input in the process.&nbsp; As for the Fort Knox and Fed distinction -- that&#039;s interesting and I&#039;ll look more into it.&nbsp; It could have been a verbal lapse since the Treasury and Fed work in tandem.&nbsp; By the way, I am also disturbed by the news that the Fed only provided the Germans with 5 tons of gold in the first year after their repatriation request.[/QUOTE]</p><p><br /></p>

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