In relation to the United States, the Federal Reserve is bad for many reasons. The Federal Reserve is the central banking system in the U.S. and is in charge of the monetary policy. Monetary Policy is one way that the government attempts to control and regulate the economy: by making and destroying the money supply and the rate at which it is distributed.The federal reserve controls inflation and deflation rates to regulate the economy. Initially, the Federal Reserve was thought of as a good and beneficial system, but in reality it is not. According to The Economic Collapse, "The Federal Reserve was created as a way to enslave the U.S. government with debt. The truth is that the U.S. government only goes into debt if it chooses to. Theoretically, one day that U.S. government could simply decide to print as many U.S. dollars as it wants and pay off all government debts. But under the current system that is not allowed." The Federal Reserve continuously increases the nation's debt by printing more and more money through monetary policy and then intern charge the government interests rates, which is why the government must raise and lower taxes. These policy's give the Federal Reserve unlimited control over the nation's money supply
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Unlike usual banks, the Federal Reserve is not audited. According to Policy.Mic, "Over $16,000,000,000,000.00 has been given in bailouts to banks and other corporations throughout the world from December 2007 – June 2010...This $16 trillion dollar figure surpasses both the national debt and the annual gross domestic product for the United States." and that "only $700 billion was supposedly given out to faltering banks and companies. However, Citigroup alone received $2.5 trillion" The Federal Reserve loans out money just to get interest on it from companies. It loans money that it does not have and raises the debt. With the constant printing of money through monetary policy and the staggered inflation rates, the Federal Reserve has significantly devalued our currency. In accordance to Freedomworker.org, "The more dollars we have in the circulation, the less the currency is worth. Our money supply has rapidly increased over the past century due to the Federal Reserve printing massive amounts of money like there is no tomorrow...Since the Federal Reserve came into existence in 1913, the dollar has lost over 95 percent of its value. Today’s dollar is worth less than a nickel compared to the pre-1913 dollar." Overall, the federal reserve is a detriment to our nation. It is corrupt and is not enumerated in our constitution and is therefor not a necessity. It causes more harm than it does good and is only hurting our nation.
