The Federal Reserve (the Fed) is a Government Agency that is dedicated to stealing at least 2% of your cash every year. I’m not kidding. Completely serious. No joke.
So how did this Agency come about? Well, I’m glad you asked. The Fed was created December 23, 1913. It was created to help “fix” the economy after some banking crises in the late 1800’s. It really got going though, right before the Great Depression and was one of the main things that started it (the Great Depression).
The Fed is extremely complicated and I don’t even fully understand it. One book that I would HIGHLY recommend is End the Fed by former Senator Ron Paul. In it, he explains this issue much better than I can and he does it in a really engaging way.
Some of you may have noticed that I didn’t post on Thursday. That’s because I realized that what with summer coming up and High School I decided to limit my posts to once a week. If you would like to contribute to TTE then, by all means, contact me either in the comment section or by heading over to the Contact page.