Federal Reserve turns 100

The Fed turned 100 today. 100 years since The Federal Reserve Act of 1913 was passed by congress when most politicians had already left Washington for the Christmas holidays.

Since its creation the US dollar has lost over 97 per cent of its purchasing power. That is if you put aside $1 in 1913, it would have less than 3 cents worth of purchasing power left today.

Unsurprisingly, with the final restraints on money creation removed in 1971 (when the US dollar and other currencies were delinked to gold), consumer prices (cost of living pressures) increase year in year out.

Detailed analysis of the Fed by Ben Swann

Something must be wrong with the US dollar when artists start cutting them up like monopoly money.

One of the best books on the Federal Reserve and why it charter must be revoked, End the Fed by Ron Paul

and heard lots of good things about this book, but I haven’t read it yet. The Creature of Jekyll Island is about how the Federal Reserve Act was written by the banking community and convertly rubber stamped at the 11th hour to become law.

One Response to Federal Reserve turns 100

  1. milton says:

    I think there maybe some skin in BITCOINS who knows,,there are BARTERING companies in operation for years on digital money, seems too work well if you own a business..any comments….

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