Chapter 255 Looking Ahead at the Federal Reserve

Light and melodious music, well-dressed people chatting and laughing, and pairs of men and women dancing on the dance floor, these are all indispensable scenes at a cocktail party.

Many prominent figures attended the cocktail party held at the Blackburn family's family villa in Dover, Boston.

Robert Jr. of Kennedy, Ed of Lawrence, Ryder of Lodge, Hector of Cabrera, Kent of Harrison, etc. are all people who have a wide influence in the New England region.

It's normal. The theme of today's cocktail party is to celebrate the Blackburn family becoming one of the shareholders of the Federal Reserve Bank of Boston.

According to the last adjustment of the Federal Reserve District plan in 1966, the United States now has a total of twelve Federal Reserve Districts.

They form the so-called Federal Reserve Bank of the United States, also known as the Federal Reserve.

It is divided into 12 Federal Reserve districts, each with a major Federal Reserve Bank.

These banks have branches in other cities of the region.

The three largest Federal Reserve Banks are the Federal Reserve Banks of New York, Chicago, and San Francisco.

Together, they control more than 50% of the Federal Reserve System's assets (discount loans, securities, and other assets, etc.). Among them, the Federal Reserve Bank of New York, which owns approximately 1/4 of the entire system's assets, is the most important Federal Reserve Bank.

The Federal Reserve Banks are quasi-public institutions (part private, part government-owned) whose shareholders are private commercial banks that are members of the Federal Reserve System in each district.

The New York Fed is the savings district with the highest holdings, while the San Francisco Fed has the broadest coverage.

Next in line is the Kansas City Federal Reserve and the Minneapolis Federal Reserve.

Missouri is the only state with two Federal Reserve Banks (the Kansas City Federal Reserve District and the St. Louis Federal Reserve District).

In the 12th Federal Reserve District, the Seattle branch is responsible for the Alaska region, while Hawaii is directly managed by the Federal Reserve Bank of San Francisco.

The administrative area of ​​the Federal Reserve Bank of New York and San Francisco includes the U.S. territories other than the 51 states - the Federal Reserve Bank of New York: Puerto Rico, the U.S. Virgin Islands; the Federal Reserve Bank of San Francisco: American Samoa, Guam, and the Northern Mariana Islands (Saipan).

The Federal Reserve Bank of Boston is the legal bank of the First Federal Reserve District, which is the New England region.

It is also the real and most important core asset of the Boston Consortium.

Compared with other consortiums, the Boston Consortium has an unwritten rule.

This regulation is one of the important reasons why the Boston Consortium has been able to remain vibrant from the time when the United States was still a British colony to the present day.

That is when a new and powerful family rises in New England.

Or the old family has fallen into decline.

Compared with the fierce competition among families in other regions.

Families in the New England region would be more inclined to let the declining old families give way to the newly emerging powerful families.

But at the same time, the new family must take into account the interests of the old family and other families.

This is reflected in the Blackburn family, which is under the leadership of old Arthur of the Adams family.

The core families of the Boston consortium, such as Lodge, Lawrence, and Adams, each gave up varying amounts of shares in the Federal Reserve Bank of Boston to the Blackburn family.

The Blackburn family's share of the Federal Reserve Bank of Boston has increased from 0.89% to the current 9%, making it the largest shareholder of the Federal Reserve Bank of Boston.

This is also the reason why this banquet is held tonight.

"This is really something worth celebrating." After the cocktail party, Milo had to have a private chat with his grandfather and father in the study.

"Yeah, I never expected it. One day it will be our Blackburn's turn."

John and Joseph, father and son, clinked their glasses filled with amber liquid together, making a clinking sound, and then they both happily tilted their necks back and drank the whiskey in one gulp.

"This is just the beginning." Milo did not do so, but turned the wine glass and stared at the liquid inside in a trance.

The three major departments of the Federal Reserve include: 12 regional reserve banks + Federal Reserve Board + Federal Open Market Committee.

The Blackburn family is now only a major shareholder in one of the 12 regional reserve banks.

But in fact, the Rockefeller family was a shareholder in four of them, and the Morgan family was a shareholder in three.

What's even more outrageous is that the two families together hold more than 40% of the shares of the Federal Reserve Bank of New York.

The Federal Reserve Bank of New York has extremely high say and voting power, holding nearly one-third of the voting rights.

Therefore, it holds 9% of the shares of the Federal Reserve Bank of Boston, becoming the family with the highest voting rights in the Boston consortium.

At best, it can only be considered as a successful official establishment of the Boston Consortium.

With the help of old Arthur, he officially took over the leadership of the Boston Consortium.

But it is still a long way from Rockefeller and others.

"Yes, this is just the beginning." Joseph agreed, sitting at the table and letting out a long breath.

Although no one said anything else, the father and son, and the grandfather and grandson all knew the meaning behind it.

Maybe in the eyes of ordinary people, or some regional elites.

They are already very successful.

The family has a century-old heritage, the Mayflower, the most noble WASP bloodline, a huge influence in the Protestant system in the United States, and occupies an important position in the military chaplain system.

Now there is a business genius, Milo, who can combine the strength of several financial groups to accomplish great things.

But the three generations of grandparents and grandchildren all knew that for those families at a higher level.

The Blackburn family still can't compare.

How to protect the family from being swallowed up and how to form alliances and further develop and grow on the basis of maintaining a win-win situation are issues that must always be considered.

However, Milo was not as worried as his grandfather and father, because...

"As long as we keep going, Grandpa, Dad, America will belong to us." Milo raised the glass in his hand to his grandfather and father.

"As long as we keep going." Joseph poured another half cup for his father and himself, and raised his glass with his son. The three generations of the Blackburn family clinked their glasses. "I believe that the next era will definitely belong to us, the Blackburn family!"

Old Blackburn looked at his son and grandson with satisfaction, and raised his glass with them, "I believe it too."

Let’s go back three days.

At that time, Milo and Ivana were in a cabin in the forest. They stayed there for one night and then returned to Boston.

Because at noon that day, after old Arthur regained consciousness in the ICU, he immediately notified Milo.

Said he wanted to see Milo.

This is Milo's main purpose for returning to Boston this time.

He certainly would not indulge in the tenderness he had with Ivana in the wooden villa in the forest park.

Because he knew very well that he could enjoy everything, including the comfortable life and the position of power.

It's not that he was favored by God, but it's because of his status in American society.

In order to maintain it for a long time, or even reach higher heights.

Then he must maintain his voice in this system.

So he returned to Boston.

In the special small villa of the hospital, we met the very old Arthur and several old men from the Rhodes, Lodge and Lowell families.

In addition to Milo and his grandfather Blackburn Sr. who were personally involved.

There are other participants.

No one knows what they talked about.

But after this meeting ended.

Families such as the Adams, Lowell, Ryders and Lodge gradually transferred part of their shares in the Federal Reserve Bank of Boston to the Blackburn family.

So there was this cocktail party three days later, which is today.

Even though it happened in Boston and it didn’t even make the news.

But in a short period of time, major influential or well-informed families across the United States.

Everyone who should have received the message has received it.

Many people immediately understood that this was the usually united Boston consortium announcing to the outside world that the Blackburn family was their new king.

Just like old Arthur Adams did decades ago.

"Grandpa." Putting down his glass, Milo looked at Old Blackburn. "If, I mean if. You don't hold any official position yet. If we push hard, can we make you one of the seven members of the Federal Reserve Board?"

The Federal Reserve Board has a total of seven members, all of whom are appointed by the US government.

This shows that the Federal Reserve is not independent.

It’s just that the government does not interfere with the Federal Reserve’s power to formulate monetary policy, it only has the power to appoint personnel.

This can also be regarded as a kind of mutual restraint between the major families and the White House.

Think about it, if the Federal Reserve is completely controlled by the White House, what will happen? The Elephant Party has always relied on industry, while the Donkey Party has relied on finance.

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When the Elephant Party comes to power, it will be more inclined to currency depreciation to benefit industrial exports, just like MAGA will do later; while when the Donkey Party comes to power, it will often hope for currency appreciation and the return of financial funds to the United States.

If whoever comes to power has to change monetary policy in a new round, the global financial market will be in turmoil.

More importantly, the major families would not be able to financially constrain and suppress the White House.

Therefore, the White House only has the right to personnel, and the list of personnel candidates needs to be approved by a meeting of all the major families.

This is very much like the shortlist of candidates for White House owners that ordinary people face.

The White House can only choose candidates given by the major families.

Ordinary voters can only choose the candidates given by the two parties.

Essentially, every department within the United States is adopting this model of restraining each other and mixing up different opinions.

Well, it’s similar to the political model during the Song Dynasty in China.

Therefore, some Chinese people who are familiar with their own history, after understanding the various situations in the United States from society to politics, will see a microcosm of many ancient Chinese dynasties in the United States.

For example, the aristocratic families in the Eastern and Western Jin Dynasties, the numerous warlords in the Five Dynasties and Ten Kingdoms, the system of prime ministers in the Song Dynasty, the tax farming system in the Yuan Dynasty, the party struggles in the late Ming Dynasty, and the divine power in the late Qing Dynasty...

He even looks a bit like a primitive African tribal chief.

It's just a super stitched monster.

“It’s difficult.”

After thinking about it, Blackburn Sr. gave his answer, "I used to be a diplomat and never worked in a bank. It might be very costly to suddenly join the Federal Reserve."

Milo was silent, he knew this too.

And the Federal Reserve is also difficult to enter.

Not to mention the even more important Federal Open Market Committee.

In the system of the Big Three of the Federal Reserve, the Federal Open Market Committee is the real boss and the final driving force behind the formulation of US and global financial national policies.

Its English abbreviation is FOMC, which is the weather vane for investors and institutions in the global investment community.

News headlines such as "FOMC meeting minutes released at midnight" can often immediately affect a global financial market.

Many people stay up late at night waiting for the FOMC's interest rate decision and speech.

There are a total of 12 members in this big-name committee: the 7 Federal Reserve members mentioned above + 1 President of the Bank of New York + the remaining 4 are rotated by the presidents of the 11 banks.

This shows how powerful Rockefeller and Morgan are.

Because they control the New York Reserve Bank and almost always have a seat on this committee.

This is also why the New York Regional Reserve Bank is regarded as "half of the US central bank."

"All right."

Milo chose to settle for the second best. "Then let's take a step back. Let's let our people enter the management of the Federal Reserve Bank of Boston first. I plan to let Wendy take over as vice president first. When it is almost our turn, or when we are strong enough, let Wendy become the president."

Old Blackburn and Joseph both nodded.

Because it doesn’t really matter who is the president, he is just a mouthpiece.

As long as you are not mentally retarded, ability is not that important.

Loyalty is the most important thing.

Wendy naturally has no problem in this regard.

After taking a sip of whiskey, Joseph changed the subject to the happy event that the Blackburn family was about to join the Federal Reserve.

Transfer to the field he is now working hard in.

"Are you so optimistic about George?" Washington's current Secretary of Defense and nominally the second military leader of the United States - the first is the President.

Sir Joseph Blackburn said:

"Excuse me, I love Robin very much. But your uncle is really... He is a good man, but he is definitely not a good politician."

It was already the end of 1997.

La Zipton is already halfway through his second term.

The midterm elections are in full swing.

Many people are already looking ahead to the next election.

There is no chance that Zipperton will be re-elected.

In keeping with American tradition.

The next owner of the White House will most likely come from within the Elephant Party.

Many people turned their attention to people within the Elephant Party who met the most suitable conditions.

Among them are Texas Governor Bush, Senator Hatch, Senator McCain, conservative religious representative Powell and other leaders from all parties of the Elephant Party who have great hopes.

Among all the lords, the personal ability of the Governor of Texas is the most questionable.

To some extent, it can even be compared with Ha Mei at the end of 2024.

The only area where he could win is most likely gender.

But if you want to live in a white house in the United States, personal ability has never been the most important thing.

Who is more qualified to live there? First, you need to be rich and second, you need to have power.

So Mr. Governor of Texas, there is obviously still great hope.

"How about you come out and choose, Dad?" Milo said with a smile.

Because they know that there is a high probability that they will be a runner-up this year, there will definitely not be many candidates within the Donor Party in the next general election.

Milo remembered that there were only two people in the parallel universe, namely Vice President Gore and former New Jersey Senator Bradley.

If Joseph wants to join in the fun, that's not impossible.

Even Gore would probably be happy to give the chance to runner-up to Joseph.

No one wants to fight a battle that they have a high probability of losing.

Because losing will have a huge negative impact on your future career.

(End of this chapter)