Criticism Of The Federal Reserve
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) has faced various criticisms since its inception. The system was established on December 23, 1913 as a third attempt at central banking in the United States. The Federal Reserve Act was considered to be the solution to the money trust even though elements of the system were conceived by Nelson Aldrich and banking executives.
Read more about Criticism Of The Federal Reserve: Creation, Congress, The Great Depression (1929), Global Financial Crisis, Conservative Criticism, Non-mainstream Economics, Private Ownership or Control, Transparency Issues, Public Opinion
Famous quotes containing the words criticism of, criticism, federal and/or reserve:
“However intense my experience, I am conscious of the presence and criticism of a part of me, which, as it were, is not a part of me, but a spectator, sharing no experience, but taking note of it, and that is no more I than it is you. When the play, it may be the tragedy, of life is over, the spectator goes his way. It was a kind of fiction, a work of the imagination only, so far as he was concerned.”
—Henry David Thoreau (1817–1862)
“Parents sometimes feel that if they don’t criticize their child, their child will never learn. Criticism doesn’t make people want to change; it makes them defensive.”
—Laurence Steinberg (20th century)
“If the federal government had been around when the Creator was putting His hand to this state, Indiana wouldn’t be here. It’d still be waiting for an environmental impact statement.”
—Ronald Reagan (b. 1911)
“In a democracy—even if it is a so-called democracy like our white-élitist one—the greatest veneration one can show the rule of law is to keep a watch on it, and to reserve the right to judge unjust laws and the subversion of the function of the law by the power of the state. That vigilance is the most important proof of respect for the law.”
—Nadine Gordimer (b. 1923)