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but it actually was a new invention in a way
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because the United States has a different philosophy,
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which the United States has been committed,
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since its beginning, to federalism.
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That is, they don't want--or more broadly--
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they don't want centralization of power in the government.
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Instead of setting up a central bank in the United States,
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as was done commonly in other countries,
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the United States instead created twelve banks;
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they're the twelve Federal Reserve Banks.
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That was an effort to disburse power away from the center.
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The idea was that