paragraph_text: Andrzej Sławiński (born July 31, 1951 in Warsaw) is a Polish economist and Professor of Economics at the Warsaw School of Economics. He is a member of the Council of Monetary Policies since 2004 and a fellow of Collegium Invisibile.

paragraph_text: The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the Eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the world's most important central banks and is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). The capital stock of the bank is owned by the central banks of all 28 EU member states.[dated info] The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015[update] the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, and former managing director of the Goldman Sachs international division (2002–2005). The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters.

paragraph_text: The reaction to the encyclical's continued prohibitions of artificial birth control was very mixed. In Italy, Spain, Portugal and Poland, the encyclical was welcomed. In Latin America, much support developed for the Pope and his encyclical. As World Bank President Robert McNamara declared at the 1968 Annual Meeting of the International Monetary Fund and the World Bank Group that countries permitting birth control practices would get preferential access to resources, doctors in La Paz, Bolivia called it insulting that money should be exchanged for the conscience of a Catholic nation. In Colombia, Cardinal archbishop Aníbal Muñoz Duque declared, if American conditionality undermines Papal teachings, we prefer not to receive one cent. The Senate of Bolivia passed a resolution stating that Humanae vitae could be discussed in its implications for individual consciences, but was of greatest significance because the papal document defended the rights of developing nations to determine their own population policies. The Jesuit Journal Sic dedicated one edition to the encyclical with supportive contributions.

paragraph_text: Susan George (born June 29, 1934) is an American and French political and social scientist, activist and writer on global social justice, Third World poverty, underdevelopment and debt. She is a fellow and president of the board of the Transnational Institute in Amsterdam. She is a fierce critic of the present policies of the International Monetary Fund (IMF), World Bank (IBRD) and what she calls their 'maldevelopment model'. She similarly criticizes the structural reform policies of the Washington Consensus on Third World development. She is of U.S. birth but now resides in France, and has dual citizenship since 1994.

paragraph_text: The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.

paragraph_text: The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund (IMF). The president of the World Bank is, traditionally, an American. The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.

paragraph_text: The flag of the state of Nebraska is a blue rectangular cloth charged with the Nebraskan state seal. The current design was commissioned in 1925, when a bill was passed that the flag would have the Nebraska state seal in gold and silver on a field of national blue.

paragraph_text: United States of America Names The American flag, The Stars and Stripes; Red, White, and Blue; Old Glory; The Star - Spangled Banner; US flag; United States flag Use National flag and ensign Proportion 10: 19 Adopted June 14, 1777 (original 13 - star version) July 4, 1960 (current 50 - star version) Design Thirteen horizontal stripes alternating red and white; in the canton, 50 white stars of alternating numbers of six and five per horizontal row on a blue field

paragraph_text: The previous design of the flag featured a plain white field charged with the red couped cross.  However, it was later discovered that this flag was almost identical to the emblem of the International Red Cross, which had been adopted in 1863.  As a result of this finding, the Tongan flag was set at the canton of a red field instead, leading to the present design of the flag. The previous design, nonetheless, remains a national symbol of Tonga. The current flag of Tonga also has some similarities with the flags of Switzerland and Georgia.

paragraph_text: The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem (composed of the central banks of the eurozone countries). As an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the eurozone payment systems.

paragraph_text: The flag of American Samoa is a flag consisting of a red-edged white triangle pointing towards the hoist charged with a bald eagle clutching a war club and fly-whisk, with dark blue upper and lower triangles. Adopted in April 1960 to replace the "Stars and Stripes" as the official flag of the territory, it has been the flag of the Territory of American Samoa since that year. The colors used epitomize the traditional colors of the United States and Samoa.

paragraph_text: Government involvement in the British economy is primarily exercised by Her Majesty's Treasury, headed by the Chancellor of the Exchequer, and the Department for Business, Energy and Industrial Strategy. Since 1979 management of the economy has followed a broadly laissez - faire approach. The Bank of England is the UK's central bank and its Monetary Policy Committee is responsible for setting interest rates, quantitative easing, and forward guidance.

paragraph_text: The monetary base consists of coins and Federal Reserve Notes in circulation outside the Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. The adjusted monetary base has increased from approximately 400 billion dollars in 1994, to 800 billion in 2005, and over 3000 billion in 2013. The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine U.S. monetary policy. Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy. If the Federal Reserve desires to increase the money supply, it will buy securities (such as U.S. Treasury Bonds) anonymously from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.

paragraph_text: The flag of the United States of America, often referred to as the American flag, is the national flag of the United States. It consists of thirteen equal horizontal stripes of red (top and bottom) alternating with white, with a blue rectangle in the canton (referred to specifically as the ``union '') bearing fifty small, white, five - pointed stars arranged in nine offset horizontal rows, where rows of six stars (top and bottom) alternate with rows of five stars. The 50 stars on the flag represent the 50 states of the United States of America, and the 13 stripes represent the thirteen British colonies that declared independence from the Kingdom of Great Britain, and became the first states in the U.S. Nicknames for the flag include The Stars and Stripes, Old Glory, and The Star - Spangled Banner.

paragraph_text: Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates.

paragraph_text: The Chinese Banking Liquidity Crisis of 2013 was a sudden credit crunch affecting China's commercial banks evidenced by a rapid rise on 20 June 2013 in the Shanghai interbank overnight lending rates to a high of 30 percent from its usual rate of less than 3%. The ensuing panic affected gold markets and stock. China's regulation of the foreign exchange market had caused a decline in inflow of cash. On 19 June 2013, instead of injecting additional funds and easing its monetary policy, China's central bank People's Bank of China (PBOC) told commercial banks to "make full use of incremental funds and revitalize stock options." On 24 June 2014 the PBOC told commercial banks to "control the risk associated with credit expansion" effectively increasing the scrutiny of shadow banks' lending practices. This resulted in a sudden shortfall in the cash market resulting in short term repo rates in excess of 25%. In effect China was using market forces to manage the economy.

paragraph_text: The Qatar Central Bank was originally the Qatar Monetary Agency (and was known before that as Qatar Dubai Currency Board), founded on May 13, 1973 after Dubai joined the United Arab Emirates and disengaged itself from British monetary policy which the area had previously followed. The Qatar Monetary Agency assumed the duties of a central bank. In 1973, Amiri Decree No. 24 authorized the issuance of the Qatari Riyal (QR).

paragraph_text: The Federal Reserve System is composed of several layers. It is governed by the presidentially appointed Board of Governors or Federal Reserve Board (FRB). Twelve regional Federal Reserve Banks, located in cities throughout the nation, oversee the privately owned U.S. member banks. Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region, which entitles them to elect some of their board members. The Federal Open Market Committee (FOMC) sets monetary policy; it consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the New York Fed and four others who rotate through one - year terms. There are also various advisory councils. Thus, the Federal Reserve System has both public and private components. The structure is considered unique among central banks. It is also unusual in that the United States Department of the Treasury, an entity outside of the central bank, prints the currency used.

paragraph_text: The Ministry of Finance's remit is smaller than its counterparts in many other states. Macroeconomic management is primarily handled by the National Development and Reform Commission (NDRC). State-owned industries are the responsibility of the State-owned Assets Supervision and Administration Commission, and there are separate regulators for banking, insurance and securities. It also does not handle regulation of the money markets or interest rates. These, together with other aspects of monetary policy, are governed by the People's Bank of China (PBC), China's central bank. The Ministry, NDRC and PBC are equal in status, with their political heads all sitting on the State Council.

paragraph_text: Lawrence H. White (born November 27, 1954) is an American economics professor at George Mason University who teaches graduate level monetary theory and policy. He is considered an authority on the history and theory of free banking. His writings support the abolition of the Federal Reserve System and the promotion of private and competitive banking.

Question: How many stars are on the flag of the country which owns the banks in charge of American monetary policy?
Answer: fifty