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#15
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Nov 16, 1914
Federal Reserve System formally opens for business. The Bank Bill created by Hamilton was a proposal to institute a national bank in order to improve the economic stability of the nation after its independence from Britain. Although the national bank was to be used as a tool for the government, it was to be privately owned. The Federal Reserve Banks opened for business in November 1914. The New York Fed opened for business under the leadership of Benjamin Strong, Jr. , previously president of the Bankers Trust Company, on November 16, 1914. New York City US$ 2.62T San Francisco US$ 512B Richmond US$ 289B Atlanta US$ 244B Chicago US$ 175B Dallas US$ 154B Cleveland US$ 133B Philadelphia US$ 120B Boston US$ 91B Kansas City US$ 61B St. Louis US$ 58B Minneapolis US$ 32B All banks US$ 4.49T Audit the Fed! Is it even possible to do it? They prolly sent all the gold to China and just pull numbers out of the air, type them in on a whim. If we did it, what do you think would happen? Pandora's box? Hell freeze over? Houston Astros win the world series?
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