| Subject: | [socialcredit] invalidating the State Theory | | Date: | Saturday, May 12, 2007 08:17:24 (-0700) | | From: | william_b_ryan <william_b_ryan @.....com>
|
On May 8, 9:31 am, Steve Campbell
<SteveCampb...@avicorcho.com> wrote:
"The Fed needs some national debt to conduct open
market operations with bonds that are its primary tool
for regulating the economy with the money supply and,
thereby, controlling inflation."
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In point of fact, and it is a little known fact, the
primary tool for inserting or extracting reserves in
the attempt to control inflation by the central banks
is through the purchase and sale of "repos," which are
securities created by the member banks themselves.
The Bank of Canada is quite open about this at their
Website:
http://www.bankofcanada.ca/en/glossary/glossopen.html
"open market operation opération d'open market
"Discretionary Bank of Canada intervention in the
domestic securities market.
"NOTE: Since 1995, such transactions have involved
mostly special purchase and resale agreements and sale
and repurchase agreements."
Since 1995 in Canada, probably since 1975 in the
United States.
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invalidating the S
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