The Federal Reserve, the unelected central bank of the U.S., enjoys a monopoly over the flow of our nation’s money and credit but has never been completely transparent and accountable to Congress since its creation in 1913.
Over its nearly 100 year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar while Congress has kept its hands off and its eyes closed. Since 1913, the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy.
During the current economic crisis, Congress, the Treasury, and the Fed have put us on the hook for over $14 trillion in bailouts and loans. This is in addition to our over $16 trillion national debt.