From 1837-1862 there was a system of national banks in the USA but then in 1913-1914 a
consortium of 12 privately held banks got together and formed the Federal Reserve Bank. The
Federal Reserve is not a government agency, but a private, for-profit Corporation
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Federal Reserve Act by President Woodrow Wilson. The Federal Reserve System includes the
Board of Governors and the twelve regional Reserve Banks. It took nearly a year from the time
President Wilson signed the Act to determine the boundaries of the twelve Federal Reserve
Districts and to establish the twelve regional Reserve Banks.
When people write a check, there must be sufficient funds in their account to cover the check,
but when the Federal Reserve writes a check there is no bank deposit on which that check is
The paper and digital currency that bankers create out of thin air is backed by nothing. The
more paper "dollars" they roll off the printing presses or digital "dollars" created by computers,
the less each one is worth. Therefore, it takes more of them to buy the things people need, so
the price of everything has to go up and up and up in endless inflation. The Federal Reserve
does not bother to tell us that they do not create enough paper/digital currency to pay off the
debt plus interest so mathematically the economy will eventually collapse as has always
occurred in history with paper currencies.
The Federal Reserve was created in order to bring stability to the economy and yet almost
every major crash, including the great depression, can be attributed to the Federal Reserve.
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This Article was by Michelle At People's Natural Living