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<p>[QUOTE=&quot;fatima, post: 1207532, member: 22143&quot;]This isn&#039;t what happened.&nbsp; Assuming you are referring to the Federal Reserve, it is a legislative creation. It it not a constitutional entity and thus, the US Congress can eliminate it, change the rules in which it operates under, end it&#039;s monopoly on money, etc.&nbsp; i.e. The political class is in 100% control over it.&nbsp; They disingenuously argue the Fed should be independent, but this simply means they don&#039;t have to deal with the repercussions of the failures of this system as they can blame non-elected people that do things in secret for the good of all of us.&nbsp; </p><p><br /></p><p>It should also be noted, that for the common person, the US government was not needed at all to countersign currency as general commerce was handled in gold and silver coinage and that does not require any government.&nbsp; That is, the political class had NO control over the money.&nbsp;&nbsp; The US issued coinage was simply an easy assay of the metal.&nbsp;&nbsp; The Federal Reserve and fiat money system was created because it 100% gave the government power over the currency and once that was established they had the power to tax and take wealth from people.&nbsp; It was this creation that gave the political class unimagined power and it has gone on so long that the current generation believes it was always this way.[/QUOTE]</p><p><br /></p>

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