The Fed was formed in 1913, the same year that the 16th Amendment was "passed." What a coincidence (?).

How many notice the direct change correlated to the major wars from 1800 - 1940, then the exponential growth from the severing of gold in 1972?

this chart shows how the progressives have funded their takeover of the U.S. electorate --
buying votes with dollars minted, printed or credited electronically -- regardless of the
influence of any particular group, they are all in it together to make crony capitalism perennial,
sustained by voters lulled into submission on the government dole. my opinion. -- j

I watched a very interesting full-length documentary by Aaron Russo recently, which covered the Fed and IRS among other things. It's available here: https://www.youtube.com/watch?v=kE8RtL3a...

The fed is a quasi-government entity. It is not controlled by the U.S. government, although they do have a voice in its management. It's directors are elected by the member banks. Which is why the banking cartels run the Fed.

When the Federal Reserve Act was passed, the Fed's two jobs were to preserve the value of the dollar and to supply an "elastic" currency for financial exigencies. They've done a good job on the former; a dollar today buys about what two cents did back then. Elastic currencies cannot be freely convertible ones, too many people will trade worthless paper for gold or silver. You can't make an honest woman out of fiat currencies; they all fail. For an interesting take on central banking from the vantage point of a historical novel, see my book The Golden Pinnacle. Many in the Gulch have read and enjoyed it.

http://www.amazon.com/The-Golden-Pinnacl...