Yesterday marked the 114th anniversary of the Federal Reserve. On November 24, 1910, a group of elite politicians and bankers convened in secret at Jekyll Island, Georgia, outlining a central bank system that could successfully get passed through Congress, giving birth to this formidable creature. Since its creation, it has devalued the US dollar by 97%, or as I like to call, it has impoverished generations by 97%.
Lol...the FED is formidable indeed and I love the way it has maintained the status of the largest central bank in the world, kudos to the brilliance of the founder and the subsequent chairmen, these guys have done wonderful work and they all deserve respect and accolades. It is not easy for anyone to handle the affair of the USD shouldering the burden of all the paired assets against it and still continue to stand strong and tall, despite all circumstances.
It's clear you don't like the FED, but all countries have their central banks and I wonder how an economy would be without them. It is now left to how good the apex bank is to its core responsibilities.