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| Gee whiz, nothing like a congressional act from 1913 forcing a member bank to buy shares that they legally can never sell, trade, pledge as collateral, or do anything with except collect a 6% dividend payout each year. I'm sure all those mean banks would definately agree that there is no better use of that capital.
I've been very critical of the Fed on here. But the law from 1913 about member bank equity is the wrong boogie man. | |
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Inflation
