All governments create the money of their nation. The Fed, like any powerful national bank, is the subject of many whacko conspiracy theories. Such theories are manufactured and spread by contemporary socialists, who know that a weaker monetary system creates the possibility of damage to the nation which they would destroy.
The central bank of the USA is the most sophisticated and financially sound banking institution in the history of mankind. The gargantuan American economy that keeps you safe, fed, secure, and able to bitch on this thread, is built on this financial foundation, that allows us all to be personally ignorant of the suffering caused when tinhorn dictators and totalitarian idealists try to oppress people through manipulations of their means of commerce-the national currency.
Black helicopter backwoods conspiracy theories will always include the "Evil Federal Reserve". That's another anecdotal indication of it's success. The continued strength of the American Fed, however, ensures that we will ALWAYS survive crises like the Clinton recession, and the Clinton bear market, with the only real question being "when", rather than "if"... |
