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Saturday, 24 January 2015

The Federal Reserve System has a "unique structure that is both public and private".

http://en.wikipedia.org/wiki/Federal_Reserve_System

The Federal Reserve System has a "unique structure that is both public and private"and is described as "independent within the government" rather than "independent of government".The System does not require public funding, and derives its authority and purpose from the Federal Reserve Act, which was passed by Congress in 1913 and is subject to Congressional modification or repeal.

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