This brings up a question. I hope you don't mind, but the statute says, for the purpose of making advances to Federal reserve banks through the Federal reserve agents...Originally Posted by Anthony Joseph
How do the advances get to you, without first going through an agent? Holders must be banks, having received them from agents, right?
You become a federal reserve agent by endorsement.
Another way to describe that is to accept the ability to lend your money out. Or look at the automobile salesman who is willing to extend you credit... Is he a bank? Of course he is! Are you able to lend out money? Yes, you are. Can you charge interest? Sure! You are a bank.
Can you lend out more money than you actually have? Probably not. However if you have a lot of money to qualify for FDIC.... ??
I don't know. I have never studied into it. I suppose you might find an insurance agent (bottomry/admiralty) who would regulate your risk management, license you and tell you when you are getting dangerous by raising your premiums etc.
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