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    <name><![CDATA[Travis]]></name>
    <location><![CDATA[Riverton, UT]]></location>        
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      <rating>4</rating>
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  <read_at>Fri Nov 21 00:00:00 -0800 2008</read_at>
  <date_added>Thu Oct 30 17:13:45 -0700 2008</date_added>
  <date_updated>Fri Nov 21 22:32:11 -0800 2008</date_updated>
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    <body><![CDATA[The most important thing I learned in this book is that the private ownership of the Federal Reserve is not the most interesting part of its sneakiness. It is the control and power which the Federal Reserve can exert by expanding and contracting credit at will - totally unregulated, that makes it so pernicious. The issuance of high-powered money (money at stage 1 of the inflation process) to the Fed's friends and families makes it terribly powerful.<br/><br/>One more interesting tidbit was the fact that Marriner Eccles (a latter-day saint) was part of the Rockefeller-led ousting in 1930s of the Morgan family who had principle control over the Fed initially. He also served as Chairman of the Fed from 1934 - 1948. Hm.]]></body>
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