A week from now, the Federal Reserve System will celebrate the 100th anniversary of its founding
- Resulting from secret negotiations between bankers and politicians at Jekyll Island
- the Fed’s creation established a banking cartel and a board of government overseers that has grown ever stronger through the years
- One would think this anniversary would elicit some sort of public recognition of the Fed’s growth
- from a quasi-agent of the Treasury Department intended to provide an elastic currency
- to a de facto independent institution that has taken complete control of the economy through its central monetary planning
- But just like the Fed’s creation, its 100th anniversary may come and go with only a few passing mentions.
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