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<p>[QUOTE=&quot;fatima, post: 1470672, member: 22143&quot;]I&#039;m not sure what you mean, but the <i>Depository Institutions Deregulation and Monetary Control Act</i> of 1980, forced all banks in the United States to effectively become members of the Federal Reserve.&nbsp;&nbsp; In other words, they have no choice in the matter.&nbsp; In the 1970s many bankers had become alarmed at the actions of the Fed and the government and moved to setup an alternative clearing system among themselves.&nbsp; Many resisted joining the Fed.&nbsp;&nbsp; This was not unprecedented.&nbsp; This law squashed that effort.&nbsp; </p><p><br /></p><p>Yet the world ran on the gold standard established by the BOE in the 1570s until Nixon ended it in 1971.&nbsp; So we had 300 years of the world running on a gold standard.&nbsp; The present fiat based system is only 41 years old in comparison and right now an entire continent&#039;s financial &amp; political system is melting down for having relied on the abuses enabled by fiat.&nbsp;&nbsp; </p><p><br /></p><p>History is on the side of the gold standard.[/QUOTE]</p><p><br /></p>

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