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Line 9: − − ==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> − − However, conservatives are not united in their criticism: the prominent conservative commentator [[Vox Day]], a member of [[Mensa]], describes himself as a "loyal Federal Reserve supporter".<ref>[http://voxday.blogspot.com Vox Day's blog]</ref>
→Criticism
Federal Reserve banks are located in [[Boston]], [[New York]], [[Philadelphia]], [[Cleveland]], [[Richmond]], [[Atlanta]], [[Chicago]], [[Kansas City]], [[St. Louis]], [[Minneapolis]], [[Dallas]], and [[San Francisco]].
Federal Reserve banks are located in [[Boston]], [[New York]], [[Philadelphia]], [[Cleveland]], [[Richmond]], [[Atlanta]], [[Chicago]], [[Kansas City]], [[St. Louis]], [[Minneapolis]], [[Dallas]], and [[San Francisco]].
==Effects of the Fed's Monetary Policy==
==Effects of the Fed's Monetary Policy==