Secrets of the Federal Reserve: U.S. Economy, Finance and Wealth

Tài Chính, Ngân Hàng, Bảo Hiểm

The Federal Reserve System, known colloquially as “the Fed”, has faced various criticisms since its conception in 1913. The system was created as a third attempt at central banking in the United States. About the book:

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The Federal Reserve Act, which began the Fed, was a hotly debated issue in its own right.

Some economists, such as John Taylor, have asserted that the Fed was responsible, or at least partially responsible, for the United States housing bubble which occurred prior to the 2007 recession. They claim that the Fed kept interest rates too low following the 2001 recession, The housing bubble then led to the credit crunch. Then-Chairman Alan Greenspan disputes this interpretation. He points out that the Fed’s control over the long-term interest rates critics have in mind is only indirect. The Fed did raise the short term interest rate over which it has control (i.e. the federal funds rate), but the long term interest rate (which usually follows the former) did not increase.

The Federal Reserve’s role as a supervisor and regulator has been criticized as being ineffective. Former U.S. Senator Chris Dodd, then-chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, remarked about the Fed’s role in the present economic crisis, “We saw over the last number of years when they took on consumer protection responsibilities and the regulation of bank holding companies, it was an abysmal failure.”

In the 2010 midterm elections, the Tea Party movement, comprising conservatives, made the Federal Reserve a major point of attack; it was picked up by Republican candidates across the country. In Utah, GOP Senate candidate Mike Lee accused the Fed of trying to “monetize the debt” by printing money to buy government bonds. Fed officials have hotly denied that. GOP Senate candidate Ken Buck in Colorado said Congress should be “shining a light on the Federal Reserve” because it is too cozy with private interests. GOP Senate candidate Rand Paul in Kentucky, whose father Congressman Ron Paul has long attacked the Fed, argues that the Fed is hurting the economy by lowering the dollar and by its easy money policies that cause booms and busts.

One criticism of the Fed, typified by the non-mainstream Austrian School, is that the Federal Reserve’s control of interest rates is an unnecessary and counterproductive interference in the economy.

The individual Federal Reserve Banks “are the operating arms of the central banking system, and they combine both public and private elements in their makeup and organization.” Each bank has a nine member board of directors: three elected by the commercial banks in the Bank’s region, and six chosen—three each by the member banks and the Board of Governors–“to represent the public with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers.” These regional banks are in turn controlled by the Federal Reserve Board, whose members are appointed by the President of the United States.

Another objection is the Fed’s lack of transparency. In particular, many believe that the public has a right to know what goes on in the Federal Open Market Committee (FOMC) meetings.


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27 thoughts on “Secrets of the Federal Reserve: U.S. Economy, Finance and Wealth

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  2. February 2019 Every American should listen to this video on The Film Archives. This is an excellent You Tube Channel: series 'The Film Archives.'

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  7. Very enlightening interview. The more we watch and share this sort of info, the quicker we'll get out of the system/civilization money has made.

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  16. Federal Reserve is a VIOLATION of the United States Constitution, see Video FIAT EMPIRE, we have given them """TRILLIONS""for only Printing our Money,

    They bought all the TV Stations and Major News Papers, they control what we Read, ROTHSCHILDS owns Reuters that Owns AP, they can send a LIE around the World in Minutes,

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  19. Jó 5:18 " Porque ele faz a chaga, e ele mesmo a liga. ele fere, e as suas mãos curam." enteeeeeediiiiiii, faz chaga, perae, dexa eu conferi, vocês também, ele mesmo liga, vocês também, ele fere, vocês tambem, ele cura, vocês tambem, ummmmmmmm enteeeeeendiiiii, vocês são ele, seeeei, não o próprio Deeeeeus ou se jugam ser um, entendi…amém né?!! faze o que?!!!!

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  21. ow, e se vocês falarem que eu não participo do cola cola, eu em você você em mim por que é alguém que participa e parou que esta dentro de mim? não…não…meu Senhor não acredita.

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  23. The best thing is buying physical silver , most decent sized cities have a coin dealer , I have bought several thousand dollars the last 2 yrs and steadily buy it weekly ,700 dollars worth last week , ppl pay attention to a specific date of the Mayan calender date ,12-21-2012 , that is the date the federal reserve contract ends ,it was created in dec 1913 , 99 yr contract.. that could create several scenarios , good & bad

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  26. we all need to make a trip to the federal reserve tell them we want our silver promised to us we are trading our paychecks in this we for our silver and no we don't want to go buy silver somewhere we want our silver for these so called promissory note (us dollars) agreement to the us people to reserved our already owned silver …pay up

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  28. aqui em Itanhaém eu ja avisei os católicos, os evangélicos, os candamblé, os espiritas e a própria recepção da camara que a casa do Senhor é o governo. Quando eu for eu explico melhor.

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  32. Note: The "first by inflation and then by deflation" part is not actually from his own words.

    They didnt exist at the time :3

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