Last week's Bloomberg News report that the Federal Reserve had pledged/backed up/loaned $7.6 trillion - yes, that is trillion - to shore up our faltering national economy opened a whole new set of previously unanswered questions: • How much money does the Fed have?
• Where is it?
• What backs it up? Gold? Treasury Bills? What?
• Where does it come from? These are not tax dollars appropriated by the Congress - so where do these massive funds - equal to half the annual GDP - come from?
• Who controls these funds? Do we, the American People, have any direct say in what happens to these funds? [and more...]
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