The Enslavement of the People Through the Reserve Bank: A Historical Perspective
In the early 20th century, the formation of the Reserve Bank, or Central Bank, was a pivotal moment in economic history. Established in response to a series of financial panics, the Federal Reserve Act of 1913 marked the creation of the Federal Reserve System in the United States. This system aimed to provide a safer, more flexible, and more stable monetary and financial system. However, the inception of the Federal Reserve was not without its controversies and fears.
The Birth of the Federal Reserve
Before the Federal Reserve’s establishment, the United States had experienced numerous banking crises, the most significant being the Panic of 1907. This financial disaster highlighted the need for a central banking authority to manage currency and provide a lender of last resort to ensure stability in times of financial distress.
The Federal Reserve Act, signed into law by President Woodrow Wilson on December 23, 1913, created the Federal Reserve System, comprising twelve regional Federal Reserve Banks and the Federal Reserve Board. This new institution was designed to oversee monetary policy, regulate banks, and provide a central banking system for the United States.