Are we doing the rounds of that old chestnut again regarding the Federal Reserve.
Would you mind also telling the folks out there: 1) exactly how the Fed is regulated; 2) what was done back in 1913 and why it was done; 3) what's the nature and function of the Open Market Committee ; 4) explain the fact that the shareholdings you refer to are in the form of enforced deposits (much the same as the SDRs that the RBA used to have in play); and 5) further explain that these same shareholdings are unable to be withdrawn, are legislated for, and could well be increased depending upon whether the Fed calls for further "statutory" deposits to be made.
I posted several detailed explanations of this back in about July /August last year. Nothing's changed since then.
