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
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“To be just, that is to say, to justify its existence, criticism should be partial, passionate and political, that is to say, written from an exclusive point of view, but a point of view that opens up the widest horizons.”
—Charles Baudelaire (1821–1867)
“The Federal Constitution has stood the test of more than a hundred years in supplying the powers that have been needed to make the Central Government as strong as it ought to be, and with this movement toward uniform legislation and agreements between the States I do not see why the Constitution may not serve our people always.”
—William Howard Taft (1857–1930)
“I do not know what right I have to so much happiness, but rather hold it in reserve till the time of my desert.”
—Henry David Thoreau (1817–1862)