The Federal Reserve

1484 WordsApr 17, 20166 Pages
There are many thoughts about the Federal Reserve, some people think it is the biggest thief ever and some other people think that the Illuminati is running the show. Also some people know that the Federal Reserve has saved the economy of the United States a couple of times from depressions. Moreover, economists think that the Federal Reserve saved the U.S. from the most recent depression in 2008. Many people in the U.S. may not know who Alexander Hamilton is; however, any economist or anybody who is studying economy should know who he was. Alexander Hamilton played a big role in the economy of the United States in 1791, when he started promoting a movement to embrace a central bank. In that same year the first bank of the United States was build. Years later, a Senator and a congressman who their names were Robert L. Owen and Carter Glass introduced the Federal Reserve Act. Later on, the 28th president of the United States Woodrow Wilson authorized a national central banking system; however, they had to operate on control of Washington D. C. After the act was presented and accepted by the Congress on December 23, 1913 president signed it making it a law (“The Founding of the Fed”). Moreover, the existence of the Federal Reserve is a little unusual when we talk about possession and freehold. The Fed was created because the congress voted for it, and it is also strange because it is detached from any government branch like the Gomez 2 Legislative or Executive branch. This

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