Federal Reserve System

2007-04-10T19:42:41Z

WingCommander:

The '''Federal Reserve''' (also known as '''The Fed''') is a central [[bank]] that controls the monetary system of the [[United States]]. Although it acts with the authority of the [[government]], the Federal Reserve is not an official government agency. It was established by [[President]] [[Woodrow Wilson]] in 1914. Although the [[Constitution]] says that only Congress has the authority to print money, the Federal Reserve issues currency that is not based on the original [[gold standard]].[http://www.federalreserve.gov/]

The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is [[Ben Bernanke]], a member of the [[Reform Jewish]] religion.[http://www.federalreserve.gov/bios/bernanke.htm] His predecessor was [[Alan Greenspan]], also a member of the Jewish faith, and the boyfriend of known [[atheist]] [[Ayn Rand]].[http://usliberals.about.com/od/peopleinthenews/a/Greenspan1.htm] The Fed was originally conceived by an organization called the "Money Trust", composed of the richest and most powerful [[banker]]s in the world. Their ultimate goal was to control America's monetary system so that it is easier to incorporate the country into a [[one world government]]. On the bright side, it does employ a few right-wing cranks as economists [http://www.sonsofsamhorn.net/wiki/index.php/User:DieHard3].

<ref>Griffin, G. Edward (1998) ''The Creature from Jekyll Island: A Second Look at the Federal Reserve'', 3rd edition. American Media. ISBN 0-912986-32-8 (hardcover), ISBN 0-912986-21-2 (paperback)</ref>

The main job of the Federal Reserve is to control [[inflation]] by regulating the [[free market]].[http://www.peterjaworski.com/Friedman]
==References==
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[[category:United States]]

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Federal Reserve System