Federal Reserve System - Revision history

RobSmith: /* Criticism */

2025-08-05T05:01:53Z

Criticism

RobSmith: /* Criticism */

2025-08-05T05:01:41Z

Criticism

Aschlafly at 19:06, March 13, 2023

2023-03-13T19:06:19Z

Aschlafly at 19:05, March 13, 2023

2023-03-13T19:05:35Z

Aschlafly at 19:05, March 13, 2023

2023-03-13T19:05:11Z

Aschlafly: There is no oversight of the Fed, and often it simply bails its buddies who to took risks for their own personal benefit; for decades conservative Dr. (and congressman) Ron Paul has urged an audit of the Fed.

2023-03-13T19:04:30Z

There is no oversight of the Fed, and often it simply bails its buddies who to took risks for their own personal benefit; for decades conservative Dr. (and congressman) Ron Paul has urged an audit of the Fed.

RobSmith: /* External links */ History of Fractional Reserve Banking in America

2023-02-09T00:46:02Z

External links: History of Fractional Reserve Banking in America

Conservative: /* Criticism */

2022-12-14T07:01:40Z

Criticism

RobSmith: Reverted edits by Geopolitician (talk) to last revision by RobSmith

2022-02-06T13:56:05Z

Reverted edits by Geopolitician (talk) to last revision by RobSmith

Geopolitician: Added Template: Deep State

2022-02-05T06:23:12Z

Added Template: Deep State

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 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.
+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.

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 ==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.
 ==Recent Literature==

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 [[Image:Federal Reserve.jpg|right|thumb|300px|The Federal Reserve headquarters in Washington, DC.]]
-The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  '''''There is no real oversight of the Fed''''', and often it simply bails its buddies who took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
+The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  '''''There is no real oversight of the Fed''''' as it bails out its buddies who took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
 It was established by the Federal Reserve Act, which was passed by Congress and signed into law by [[President]] [[Woodrow Wilson]] in 1913.  As it describes itself, "the Board is a federal government agency consisting of seven members appointed by the President of the United States and confirmed by the U.S. Senate."<ref>[http://www.ny.frb.org/aboutthefed/fedpoint/fed46.html Board of Governors of the Federal Reserve System] - Fedpoints -  Federal Reserve Bank of New York</ref> The Federal Reserve is a system of private banks, twelve of which are designated as Federal Reserve Banks and have some features of public federal agencies. The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is Jerome Powell, as appointed by President [[Donald Trump]].  Prior chairmen have included [[Alan Greenspan]], appointed by President [[Ronald Reagan]].

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 [[Image:Federal Reserve.jpg|right|thumb|300px|The Federal Reserve headquarters in Washington, DC.]]
-The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  '''''There is no real oversight of the Fed''''', and often it simply bails its buddies who to took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
+The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  '''''There is no real oversight of the Fed''''', and often it simply bails its buddies who took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
 It was established by the Federal Reserve Act, which was passed by Congress and signed into law by [[President]] [[Woodrow Wilson]] in 1913.  As it describes itself, "the Board is a federal government agency consisting of seven members appointed by the President of the United States and confirmed by the U.S. Senate."<ref>[http://www.ny.frb.org/aboutthefed/fedpoint/fed46.html Board of Governors of the Federal Reserve System] - Fedpoints -  Federal Reserve Bank of New York</ref> The Federal Reserve is a system of private banks, twelve of which are designated as Federal Reserve Banks and have some features of public federal agencies. The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is Jerome Powell, as appointed by President [[Donald Trump]].  Prior chairmen have included [[Alan Greenspan]], appointed by President [[Ronald Reagan]].

@@ Line 1: / Line 1: @@
 [[Image:Federal Reserve.jpg|right|thumb|300px|The Federal Reserve headquarters in Washington, DC.]]
-The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  There is no oversight of the Fed, and often it simply bails its buddies who to took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
+The '''Federal Reserve''' (also known as '''The Fed''') is a central banking system that controls the monetary system of the [[United States]], with virtually no accountability to the public.  The Senate refuses to confirm for a position at the Fed anyone who is a critic or a genuine outsider.  In practice, the Fed is a safety net for those connected with its club, as it arranged for the bailout of [[Long Term Capital Management]] in 1998<ref>http://www.pseagles.com/Fed_Bailout_Requires_Full_Investigation</ref> and then again for [[Wall Street]] banks a decade later.<ref>https://www.bloomberg.com/opinion/articles/2014-09-23/biggest-losses-start-with-brilliance</ref>  '''''There is no real oversight of the Fed''''', and often it simply bails its buddies who to took risks for their own personal benefit; for decades [[conservative]] Dr. (and congressman) [[Ron Paul]] has urged an audit of the Fed.
 It was established by the Federal Reserve Act, which was passed by Congress and signed into law by [[President]] [[Woodrow Wilson]] in 1913.  As it describes itself, "the Board is a federal government agency consisting of seven members appointed by the President of the United States and confirmed by the U.S. Senate."<ref>[http://www.ny.frb.org/aboutthefed/fedpoint/fed46.html Board of Governors of the Federal Reserve System] - Fedpoints -  Federal Reserve Bank of New York</ref> The Federal Reserve is a system of private banks, twelve of which are designated as Federal Reserve Banks and have some features of public federal agencies. The Federal Reserve is headed by a Board of Governors and a Chairman. The current Chairman is Jerome Powell, as appointed by President [[Donald Trump]].  Prior chairmen have included [[Alan Greenspan]], appointed by President [[Ronald Reagan]].

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 ==External links==
 *[http://www.federalreserve.gov/ Board of Governors of the Federal Reserve System]
 [[Category:Finance]]

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 ==Effects of the Fed's Monetary Policy==
-The Fed made the [[Great Depression]] much, much worse by utterly failing in its primary responsibility. It simply did nothing, as hundreds and thousands of banks failed (see [[bank run]]). What it was supposed to do was lend them enough money to keep going.
+The Fed made the [[Great Depression]] much, much worse by utterly failing in its primary responsibility. It simply did nothing, as hundreds and thousands of banks failed (see [[bank run]]). What it was supposed to do was lend them enough money to keep going!
 Friedman and Schwartz argued that all this was due to the Fed's failure to carry out its assigned role as the lender of last resort. Rather than providing liquidity through loans, the Fed just watched as banks dropped like flies, seemingly oblivious to the effect this would have on the money supply.<ref>[http://www.thefreemanonline.org/featured/the-great-depression-according-to-milton-friedman/ The Great Depression According to Milton Friedman]</ref>
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 *[http://www.federalreserve.gov/ Board of Governors of the Federal Reserve System]
 [[Category:Finance]]
 [[Category:Progressive Era]]
 [[Category:United States History]]
 [[Category:Economic History]]