The Federal Reserve, or the Fed, is the central bank of the United States. Ever wonder why we have it? Only a few people care if it’s still around, and they’re the ones who profit from it. In some cases they profit enormously. The average person doesn’t know about central banks and doesn’t care to know. To the ones at the top of the political – economic heap, this is how they want it.
A central bank such as the Fed comes about through political favors — favors to big bankers and to politicians intent on buying votes and making war. Where you find a country with a central bank, you have laws establishing it. A central bank is not a voluntary agreement among bankers. In practice, it is a sophisticated counterfeiting racket backed by the monopoly force of government. Remember, there would be no Fed without the Federal Reserve Act.
Central banks are often described as inflation fighters. As monopoly producers of money, they are instead the sole source of inflation. The Fed’s definition of inflation as “the rate at which the price of goods and services increases over time,” serves as a cover for their crime of targeting (price) inflation at two percent. It’s policy is to ensure the dollar buys less over time since only the naive believe low prices are good. As a monetary thief, the Fed has been a huge success.