by xmaladroit May 15, 2005
Get the steel reserve mug.A private national bank that churns currency cents to the bill. Not backed by a physical commodity but by your faith you have to the issuing bank.
Man 1: I got a 1000 dollars, and its all mine!
Friend: No it's not, you EARNED that money but you don't own it.
Man 1: Yea, how?
Friend: The price printed from the Federal Reserve on each bill Is the amount you believe its earned.
Man 1: So it's not backed by anything, and it's just printed out?
Friend: Yup
Man 1: so, I can print it too
Friend: Yes.. NOOO!
*Plays Roundabout by Yes*
...To Be Continued
Friend: No it's not, you EARNED that money but you don't own it.
Man 1: Yea, how?
Friend: The price printed from the Federal Reserve on each bill Is the amount you believe its earned.
Man 1: So it's not backed by anything, and it's just printed out?
Friend: Yup
Man 1: so, I can print it too
Friend: Yes.. NOOO!
*Plays Roundabout by Yes*
...To Be Continued
by Shinkdmeister November 5, 2018
Get the Federal Reserve mug.Related Words
when u take a hit off a blunt or bong and start coughing.. so hard that you throw up a big puddle of mucous.. not actual puke just mucous.
by italian smallie April 19, 2009
Get the blowing your reserve mug.A boy scout camp with the different camps. Waubeeka, Buckskin, and Summit Base. People that have been to all camps prefer Waubeeka the most. People don't always like to cook for themselves, but they prefer Waubeeka because Buckskin sucks. Summit Base has many entertaining activities, but the staff is the most cocky. Basically Waubeeka has great staff, Buckskin has many staff members that can be very irritating, and Summit Base staff members are cocky self absorbed. If you ask the people that visit both Waubeeka and Buckskin camps they will recommend Waubeeka.
by ajhfgajghakjgh December 2, 2011
Get the Curtis S. Read Scout Reservation mug.The currency issued by the Federal Reserve that is marked by being both fiat money and debt money. All American money issued by the federal government is Federal Reserve currency.
by Jon Davis January 14, 2004
Get the Federal Reserve currency mug.by virginiagrunt March 31, 2009
Get the hot military/veteran/reserve females mug.(ECONOMICS) the central bank of the United States; often called "the Fed" for short. Sole bank of issue for the US dollar since 1971*; issuer of nearly all US currency since 1914.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
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*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
_______________________________________
*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
The Federal Reserve System has twelve district banks, whose management is chose by bank holding companies. The president of each district bank is himself likely to have been an officer of a bank holding company. Hence, regulatory capture was built into the system from the beginning.
by Abu Yahya May 5, 2010
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