Federal Reserve

The Federal Reserve is neither federal nor is it a reserve.  It is not even owned by the US government, but by about 10 foreign banks.  Congress abdicated their constitutional authority to mint money when they passed the Federal Reserve act in 1913.  For about 100 years before that, there was almost no inflation, and the US had great prosperity which was unprecidented in world history.  After that, there has been inflation such that a dollar now buys only 2% or 3% of what it purchased in 1913.  This is in effect a hidden tax (or theft) where the value of savings silently melts away.  This has been caused by the “printing” of excess money by the Federal Reserve.  If you or I try to print money, we go to jail.  How much power do you think you would have if you could create for yourself money without limit?

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