Comment: Federal Reserve Act, 1913. First sentence : "elastic currency."

(See in situ)


Federal Reserve Act, 1913. First sentence : "elastic currency."

FEDERAL RESERVE ACT, 1913 (Preamble shown here; full text at link)

    "An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford [make-believe] means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes."

Fed + IMF & Boyz 05/15/2011

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H... Birthday Fed Reserve Merry Redacted! Submitted by Mark Twain on Mon, 12/24/2012

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