WHO OWNS THE US FEDERAL RESERVE?
Today, almost no serious study on global economics and politics can do without taking into account the “Federal Reserve System”. This is the Central Bank of the United States of America, called the “US Federal Reserve System”. The special significance of the American Central Bank is because it issues the US dollar, which is not only a national currency, but also a world currency. The special status of the US dollar was determined eighty years ago, when in 1944 the gold dollar standard was adopted at the international conference in Bretton Woods (USA). It became the basis of the world monetary and financial system after World War II. In the future, this system underwent serious changes, especially after the Jamaica Conference of 1976, where it was decided to cancel the gold dollar standard and replace it with a paper dollar standard. The US dollar then managed to maintain its leading positions in the world monetary and financial system. It is still successful today, despite the fact that the share of the US dollar on the world market is gradually decreasing. Many are concerned about the question: how do American currency resources survive deep world crises? Here, the US Federal Reserve System cannot do without help, but the system's activities are not transparent, because this corporation is private. However, over time, information about the activities of shareholders and the “pitfalls” of the Federal Reserve System has appeared, which is presented in this article.
Authors
- V.YU. KATASONOV (ORCID: https://orcid.org/0000-0003-3557-4293)
Institutions
- Moscow State Institute of International Relations (RU)
Publication Details
- Journal
- Bulletin of Chelyabinsk State University
- Published
- 2024-11-08
- DOI
- https://doi.org/10.47475/1994-2796-2024-489-7-55-73
- Primary Topic
- Economic Theory and Policy
- Type
- article
- Field-Weighted Citation Impact
- 0.00