1855 United States Tycoon

Chapter 454, The Federal Reserve

The Democrats, of course, cannot tolerate such accusations, so it took more than a month for several Democratic congressmen to come up with their own set of plans, but they did not directly announce this set of plans, but first proceeded within the Democratic Party. Discussed. This discussion naturally has many modifications. However, under the auspices of a caring person, revisions were made. In the end, apart from the difference in wording, the basic ideas of Morgan and Scrooge were all reflected in this version of the plan.

This plan is not much different from the previous Republican plan on the first and second points, but in terms of how the central bank is organized, their methods are a bit different:

According to the plan of the Democratic Party, the structure of this central bank (in order to distinguish itself from the Republicans, they named this bank the United States Federal Reserve Bank, or the Federal Reserve for short) was designed very interestingly. The Federal Reserve is made up of the Federal Reserve in Washington, D.C. and 12 Federal Reserve Banks in various regions of the United States. The main monetary policy of the Federal Reserve is jointly formulated by the members of the Federal Reserve Board and the chairman of the Federal Reserve Bank. In order to avoid policy decision-making power being concentrated in a few areas (such as Washington, D.C. and New York).

In order to prevent monetary policy from being completely manipulated by the federal government, the Federal Reserve adopts a dual organizational structure of federal government agencies and non-profit organizations. According to the Democrats, this minimizes the chance of abuse of power by the federal government, because according to the plan, although the Federal Reserve has seven members of the Reserve Board, the 12 Federal Reserve Banks still have 12 chairpersons. Without their consent, the federal government cannot make any decisions.

In order to prevent a certain political party or the president from having too much influence on the Federal Reserve, the draft stipulates that all the seven executive members of the Federal Reserve must be nominated by the president and confirmed by Congress before they can take office. The term of office of each executive committee is 14 years, and they cannot be re-elected after they are appointed. After the executive committee takes office, the president has no right to remove these committee members. If they need to be removed, two-thirds of the members of Congress must vote.

The terms of office of the other seven executive members need to be separated by two years. For example, if the term of the first committee member starts in 2012, the term of the second committee member starts in 2014, the term of the third committee member starts in 2016, and so on. Therefore, during the four-year term of the President of the United States, at most two executive members will end, and the president must decide who the new candidates are. The Fed’s tenure arrangement largely limits the president’s ability to control the committee. Executive members of the Federal Reserve Board can be nominated by the President as Chairman or Vice Chairman of the Federal Reserve, each nominated for a term of 4 years. After the president nominates the chairman and vice-chairmen, they must also be approved by Congress before they can take office. Once in office, the chairman and vice-chairmen cannot be removed by the president alone during their term of office. They must obtain two-thirds of the votes of Congress before they can pass. In this way, once these committee members come to power, they hardly need to look at the face of the president or even the face of Congress. (It’s not easy for Congress to reach 2/3 of the votes), and they can work independently, which makes The federal government’s control over him has declined, but in fact, this also makes them easier to be bought by capital, and after being bought, they can be more unscrupulous when serving the funders. Of course, neither politicians nor the media will raise this issue.

In order to prevent a certain region from relying on strong economic power to control the envisaged Federal Reserve, this plan stipulates that the 12 Federal Reserve Banks will be dispersed in various regions of the country. The Democrats proposed dividing United States into 12 regions based on the type of economy and the level of development, and each region establishes a Federal Reserve Bank to maintain regional balance.

In order to avoid being both a referee and an athlete, this plan also stipulates that the Federal Reserve Bank of each region is a non-governmental non-profit private organization. Reserve banks in various regions issue shares to their member banks. However, owning reserve bank shares is completely different from owning private company shares. The Reserve Bank does not operate for profit. According to the law, owning a certain amount of its stock is a necessary condition for becoming a member of its system. Stocks cannot be sold, traded or used as collateral for loans.

On the surface, this ensures that these stocks will not be sold to wealthy people from other regions. Thus ensuring the regional interests. But in fact, although this stock is not tradable, the bank that owns this stock can be tradable. As long as you can take down these banks, these stocks will naturally be in your hands, and the position of the chairman of the crucial Federal Reserve Bank will naturally fall into your hands. And to do this, neither Morgan nor Scrooge is difficult, and even they have allocated the quota privately. As long as these twelve quotas are controlled, and then one or two executive committee members are bought out, the country’s economic policy can basically be manipulated.

In general, this plan is quite strict for the control of public power. As for the prevention of capitalists? Basically it’s just a look.

However, no member of the Council will raise the issue stupidly. Not only the Democratic congressmen who were reviewing this draft, but even after the draft was made public, the Republican congressmen did not raise such questions. The mainstream media only kept discussing whether this plan is true. It can limit public power, and almost nothing is mentioned about preventing capitalists.

After this plan came out, the Republicans also pretended to pick a lot of thorns in their eggs. Of course, the Democrats also ridiculed each other. The two sides have been torn between you and me in the newspapers for almost half a month. Finally, the voice of the Republican Party is getting weaker and weaker, and the Democrats are about to win on this issue.

According to the plan, the Democratic Party began to pursue the victory and formally proposed this draft in Congress…

…

“Scrooge, the public has paid too much attention to this bill recently, so that some people have already seen some problems.” Morgan said to Scrooge in a secret meeting, “My people got some no The leaflets issued by governmentists or socialists have basically revealed the back door of this plan to us. I think, on the one hand, we need to limit the propaganda of these damned guys to a small area. Inside, on the other hand, the public’s attention should be diverted from this matter… what do you think?”

“I agree with you, Mr. Morgan. Now we need to make a big news to get the public’s attention to that matter.” Scrooge replied.

“It seems you have a plan?” Morgan asked. “Are you ready?”

“Of course it’s okay.”

…

The struggle between the Cubans and the Spaniards has been intermittent and never stopped. In 1892, representatives of the various forces of the Cuban independence movement held a meeting in New York and formed the “Cuban Revolutionary Party” aimed at expelling the Spanish by force. In 1895, they set off another wave of uprising in Cuba. At the beginning, the Spaniards performed well, and they also creatively invented the method of “collecting armies and garrison” to build concentration camps, bringing a large range of people into concentration camps. Come to isolate the guerrillas and ordinary people. (Later, the British used this tactic when they dealt with the Boer guerrilla warfare. Later, the Japanese used this tactic in the Northeast to deal with the Resistance. Later, the United States was in the Vietnam War. Also learned this trick.) With this hand, they can barely prevent it. But at the end of the year, after the conflict between the Transvaal Republic and Britain intensified, the Cuban rebels suddenly received a large amount of military assistance. As a result, the Spanish immediately suffered tragedy and the Cuban rebels were victorious. Almost all the concentration camps were liberated by the insurgents. Not to mention that the Spanish army was untenable in eastern Cuba, the base of the insurgents. Even in the west, the situation has become increasingly difficult. By the second half of 1997, they had even fallen to the point where fewer than ten people would dare not go out.

Since the Transvaal Republic defeated Jensen’s expedition, the United States’ support for Cuba has become more and more unscrupulous. They seem to be using this to test the reaction of the British, and the British who are committed to solving South Africa have not made any substantive actions except for some innocent declarations, which makes the United States people more courageous. NS. Even ships that developed into the United States Navy directly used the pretext of “protecting the diaspora” to sail into ports already controlled by the insurgents to provide them with supplies. Or go to a port still under Spanish control to demonstrate to the Spaniards, by the way, to contain the Spanish navy.

In the original history, during such activities, the second-level battleship USS Maine of the United States Navy suddenly exploded and sank in Havana. United States therefore accused Spain of launching a terrorist attack, (just as United States later accused Silly Damu of supporting the 9/11 attacks) and used this as an excuse to declare war on the Spaniards.

And in this era, because of the influence of Scrooge, the second-level battleship, such an inconsistency, has disappeared in the United States Navy. The current USS Maine has a displacement of up to 14,000 tons. Yes, using gas turbines, armored cruisers with speeds of up to 24 knots. Sending such a ship to Havana to be blown up will definitely arouse the anger of the people of the United States and will definitely bring war, but damn it, unlike the original history, this ship is now sent to the Pacific Ocean. . Therefore, it is almost impossible to repeat the Maine incident in history.

But this is not a problem. Scrooge doesn’t care, and the Lord doesn’t care. Because the United States Navy has other warships…