| http://www.w3.org/ns/prov#value | - Instead, the Fed is [3]a collection of 12 district banks, each of which is ???a legally separate corporation that is owned by the commercial banks in its district.??? Because they produce no goods or services, the district banks, and the Fed itself, have no inherent ability to repay the Treasury and other securities they have bought from our beyond-profligate government.
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