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<p>[QUOTE=&quot;desertgem, post: 1470652, member: 15199&quot;]Going to hard money websites, and I am sure anyone can google them, the federal reserve exists as long as the US government wants them, but if congress voted to eliminate them the cost beside salaries,parachutes, is less than 500 million USD. But they are limited by law how much they can receive as interest for their profit ( max I found was 6%), so why would a large banking member of the federal reserve want to be tied to such? IMO.because the knowledge of the direction of the economic movements and their influence within their clients are 2 I can think of. </p><p><br /></p><p>As far as foreign ownership, almost any bank large enough to be a member bank of the Fed. is not private owned by 1 person, most likely there are 10,000+ entities that own stock or portions of the bank. JPM has clients world wide, and stockholders worldwide, but most people consider it US.</p><p><br /></p><p>Some think that the value of PM can set currency values, and I would agree if we were a small isolationist country as we have a goodly ratio of the stuff, but a small isolationist country such some un-named European countries, would soon be out of luck. Nature did not bestow equal amounts of anything except maybe silica ( like sand/rocks) to each country or the world. If they discovered a huge deposit of gold in Costa Rica ( theoretical), they could affect a gold based economy and the world currency. World counties such as China, Russia, US, India, various oil-rich countries do&nbsp; want to be the world currency,&nbsp; to control; their commodity value, not just to feel good. </p><p><br /></p><p>IMHO there will not be a world PM based currency until there is only one &quot;country&quot;, by everyone of them agreeing on a PM ratio, and that is not my idea of a good thing because of the disparity of PM.[/QUOTE]</p><p><br /></p>

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