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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
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Tuesday, May 27, 2008
Jenny McCarthy & Jim Carrey Host the Historic Green Our Vaccines March and Rally in Washington DC on June 4, 2008
Comtex
NEW YORK, May 27, 2008 /PRNewswire via COMTEX/ ----Jenny McCarthy and Jim Carrey will lead the Green Our Vaccines march, rally and press conference on Wednesday June, 4th at the Capitol Building, West Capitol Grounds in Washington, DC. The sponsored event has been organized by Talk About Curing Autism (TACA), Generation Rescue, Healing Every Autistic Life, and Moms Against Mercury.
McCarthy, author of the best-selling book "Louder Than Words: A Mother's Journey in Healing Autism," and Carrey have joined forces with national advocacy organizations in the battle to eliminate toxins from children's vaccines and to encourage national health agencies to reassess mandatory vaccine schedules. While they do support immunization, like many parents and experts in the medical community, McCarthy, Carrey and their many allies feel that children are receiving too many vaccines, too soon, many of which are toxic. Their goal is to demand a safer vaccine supply and schedule for children.
"This day will go down in history as a time when parents' voices and their message to change the vaccine program was finally heard and acted upon," said Jenny McCarthy.
Families from across the U.S. are already committed to marching for safe vaccines and the numbers are growing. "Jenny McCarthy and Jim Carrey are heroes to hundreds of thousands of families who love a person with autism and for all families who want safe vaccines that are toxin free. Their desire to help and be a vocal instrument of change are warranted and greatly appreciated," said Lisa Ackerman, TACA Executive Director.
Participants will gather at 9 am at the Capitol Building, West Capitol Grounds. The march will promptly begin at 10 am with a Press Conference immediately following.
http://www.safevaccines.net
Sponsors & volunteers of the rally include: Generation Rescue, Healing Every Autistic Life, Moms Against Mercury & TACA. Over 39 other autism and environmental groups have signed on showing their support for the Green our Vaccines march & rally.
About TACA
Talk About Curing Autism (TACA) provides support, education and information, and resources to more almost 9,000 families across the United States who are touched by autism. One in every 150 children in the United States has autism. TACA provides the largest national telephone and email response team for parents who have a child affected by autism. 95 percent of TACA's programs and services are provided at no charge and include education and support meetings, parent mentoring, and the Autism Journey Guide. TACA helps to strengthen the autism community by connecting families with professional assistance and serves to bridge the gap between diagnosis and effective treatment. http://www.tacanow.org
SOURCE Talk About Curing Autism
http://www.tacanow.org
Copyright (C) 2008 PR Newswire. All rights reserved
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