Federal Reserve Act - Deepstash
Federal Reserve Act

Federal Reserve Act

The Federal Reserve Act's stated the following purposes:

  • To provide for the establishment of Federal reserve banks.
  • To furnish an elastic currency.
  • Means of rediscounting commercial paper.
  • To establish a more effective supervision of banking in the US.

The Act also decreed that at least 35% of the Fed's assets must be held in gold.

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maxpamies

Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."

Understand money history and the layers that conform our monetary system, as well as the revolutionary form of money Bitcoin.

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