Re: Not. [Was Re: Federal Reserve Bank is ILLEGAL?]

[Dale Thorn <dthorn@gte.net>]

Michael Froomkin - U.Miami School of Law wrote:
> Instead of reading the rabid nonsense referred to in the previous post in
> this thread, try
> http://www.law.miami.edu/~froomkin/articles/reinvent.htm
> wherein it is revealed that (gasp!) the Federal Reserve is an independent
> federal agency, but that (private) federal reserve banks have five of the
> twelve votes (the rest belong to government officials) on the Open Market
> Committee, an important policy-setting body that has an influence over the
> money supply.  Incidentally, this practice was upheld in Melcher v.
> Federal Open Mkt. Comm., 644 F. Supp. 510 (D.D.C. 1986).

[snip]

Are the other 7 votes really "government officials" in the strictest sense,
with no significant ties to the banks?