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→Criticism
==Criticism==
==Criticism==
[[Libertarian]]s, such as [[Ron Paul]], and many conservatives want to abolish the Federal Reserve. For 30 years Ron Paul has called for the secretive Federal Reserve bank to be audited.<ref>[http://www.ronpaul.com/congress/legislation/111th-congress-200910/audit-the-federal-reserve-hr-1207/ Audit the Federal Reserve]</ref> Ron Paul's website declares "Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value, and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erodes the value of the dollar."<ref>[http://www.ronpaul.com/congress/legislation/111th-congress-200910/audit-the-federal-reserve-hr-1207/ Audit the Federal Reserve]</ref>
Since 1971, when [[President Richard Nixon]] ended the [[dollar]]'s [[gold]] backing, the [[US]] has been free to print trillions of dollars out of thin air. Before 1971, $1 was represented 1/35 oz of gold — a fixed [[value]]. After that, the dollar became [[fiat]], backed only by the Federal Reserve (Fed) printing power.
The Fed doesn’t just print [[cash== — it now creates digital dollars by buying government bonds.
From 2020 to 2022, the money supply ([[M2]]) surged 40%, adding nearly $10 trillion. By mid-2025, M2 reached $22 trillion — steadily eroding the value of money.
[[Libertarian]]s, such as [[Ron Paul]], and many conservatives want to abolish the Federal Reserve. For 30 years Ron Paul has called for the secretive Federal Reserve bank to be audited.<ref>[http://www.ronpaul.com/congress/legislation/111th-congress-200910/audit-the-federal-reserve-hr-1207/ Audit the Federal Reserve]</ref> Ron Paul's website declares "Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value, and by recklessly inflating the money supply the Fed continues to distort [[interest rate]]s and intentionally erodes the value of the dollar."<ref>[http://www.ronpaul.com/congress/legislation/111th-congress-200910/audit-the-federal-reserve-hr-1207/ Audit the Federal Reserve]</ref>
==Recent Literature==
==Recent Literature==