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Old 05-26-2007, 04:58 AM
Andreu
 
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Default Why is the Federal Reserve called the Federal Reserve and not Central Bank of America or US or Bank of US?


i was just wondering cause almost everyother country has a central bank of whatever or bank or whatever or national bank of whatever
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Old 05-26-2007, 05:06 AM
Robert B
 
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Just a guess, but could it be because it was established by the Federal Reserve ACt of 1913?
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Old 05-26-2007, 05:13 AM
john s
 
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Well overseas some reporters call it the US central bank on occasion. Of course in other languages it may not be translated phonetically.

In England don't they just call it the Bank of England?
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Old 05-26-2007, 05:18 AM
mister_jl2003
 
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Because the Federal Reserve it's not part of the Federal Government. The United States does not have a central bank.
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Old 05-26-2007, 05:26 AM
GERALD S. M
 
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Because it is not a bank as in commercial bank. There are 12 Fed. Reserve banks. If you look on a one dollar bill, lower left, you will see a capital letter. Each reserve is assigned a Letter from "A-L". Each letter indicates which reserve and it's location.
This money is made/distributed from that region into circulation. In addition unlike commonly thought, all the gold is not held in Fort Knox. Each reserve has a stock pile of gold go back up the money it puts into circulation.
Good question.
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Old 05-26-2007, 05:28 AM
Anti_Censorship
 
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Because the people who came here from England were in direct opposition to a Central Bank concept because a Central Bank can print money out of thin air with no gold or asset backing. The government gets free money to use on a whim and inflation increases rapidly as more money pours into the system.

Here in the US, the scam artists came up with the name "Federal" to make people think it is a government agency when in fact it is a private corporation interested in profits and NOT the welfare of the citizens. And then the word "Reserve" to make people think that gold, silver, or some other asset is being kept to back up all this extra money being printed up from nowhere when in fact there is NO backing for federal paper (dollars). When banks can loan out non-existant money to average working Americans and charge them interest on it, what better scam can there be? Take all that REAL MONEY PROFIT from interest payments on money that never existed in the first place and they get a 100% real profit.
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Old 05-26-2007, 05:37 AM
LadyZania
 
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They used that name because they wanted to make it sound like it was actually part of Federal Government (to fool the public), instead of a privately owned bank, that has no moral right to exist! LZ
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