The United States Federal Reserve

             The great majority of Americans feel that the U.S. is the best example of democracy and capitalism in the "free" world. Well, if everything were working the way founders designed and intended this nation to run, that would be an accurate assumption. The founding fathers had the vision and intention of turning America into a full-fledged democracy, free of any monarch or totalitarian power. The constitution itself states that's our form of government should be "of, for the people and by the people", and that our government should be divided into a federal system of checks and balances, so no one branch could have too much power. In essence, the constitution of the United States is a perfect blueprint for democracy in its best form, with power and control in the hands of its citizens! Unfortunately, this is not the case today and the negative effects of deviating from our roots this could be seen around the country, one of our problems being our national debt.
             The Federal Reserve is the gatekeeper of the U.S. economy. It is the central bank of the United States, it is the bank of banks. It was created on December 23, 1913, with the enactment of the Federal Reserve Act signed by President Woodrow Wilson, mostly in response to a couple of financial panics at the time. The responsibilities of the federal reserve are to influencing money and credit conditions in the economy in pursuit of full employment and stable prices, supervising and regulating banks, maintain stability in the financial system and provide certain financial services to the U.S. government. Instead, the Fed has done more harm to our country than good, it has basically enslaved our country in an ever-growing debt. Since the creation of the Federal Reserve, the national debt has been going up substantially picking up speed as the years go by. According to economist Michael Snyder "It took more than 200 years for the U.S. national debt to reach 1 trillion dollars. In 19...

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The United States Federal Reserve. (1969, December 31). In MegaEssays.com. Retrieved 08:42, April 23, 2024, from https://www.megaessays.com/viewpaper/204499.html