Difference between revisions of "Federal Reserve System"

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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''' (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 [[Judaism|bankers]] 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]].<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>
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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]].<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]
 
The main job of the Federal Reserve is to control [[inflation]] by regulating the [[free market]].[http://www.peterjaworski.com/Friedman]

Revision as of 15:27, 8 April 2007

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.[1]

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.[2] His predecessor was Alan Greenspan, also a member of the Jewish faith, and the boyfriend of known atheist Ayn Rand.[3] The Fed was originally conceived by an organization called the "Money Trust", composed of the richest and most powerful bankers 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.[1]

The main job of the Federal Reserve is to control inflation by regulating the free market.[4]

References

  1. 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)