Independence from Credit Policy Act of 2017

This bill limits the types of securities that the Federal Reserve Board (FRB) may acquire in the open market to: (1) gold stock; (2) currency; and (3) direct obligations of the United States, foreign banks, or the International Monetary Fund. The FRB must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.

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Whatever America hopes to bring to pass in the world must first come to pass in the heart of America.

President Dwight D. Eisenhower

January 1953

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