Fantastic question...hope you have a lot more around this topic.
According to Wikipedia: "A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country or of a group of member states. It is a bank that can lend money to other banks in times of need. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a lender of last resort to the banking sector during times of financial crisis (private banks often being integral to the national financial system). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently."
in addition, under the History of Central Banking: "The Founding Fathers were strongly opposed to the formation of a central banking system - the fact that England tried to place the colonies under the monetary control of the Bank of England is seen by many as the 'last straw' of English oppression and that it led directly to the War of Independence."
Now, wikipedia is giving you the softened version of the truth...you should research this much further, learn who profits from the central banks, who controls them, who governs them, and who pays for them (you).
We pay hundreds of billions each year to the privately owned company called "Federal Reserve" which is no more federal than Federal Express. They have yet to be audited, and they do not have to obey the government. In fact, Alan Greenspan has stated that they are above the government and report to no one. The ONLY reason we pay income tax (which many believe is illegal, saying the 16th amendment was never actually ratified), is to fund this fraudulent central banking scam.
One of the primary reasons our founding fathers fought England was to break free of the central banking system. How quickly we forget...
I think the Idea of a central bank changes whenever the government wants to justify something,..it is suppose to be a bank that is in the middle of all other banks...or in other words a big bank that lends to little banks
What's this? A legitimate question that isn't a thinly veiled insult at liberals or conservatives? Don't you know this doesn't belong on yahoo answers?
