The Fed

       The Federal Reserve is not beneficial to the economy and the American people. The Fed has the power to create and destroy money, which is called monetary policy. They are not regulated to do this they can create as much as they want and destroy as much as they want. This can directly relate to inflation. The more dollars we have in the circulation, the less the currency is worth. Our money supply has rapidly increased over the past century due to the  Federal Reserve printing massive amounts of money like there is no tomorrow. Also, the Board of Governors at the Federal Reserve are not directly elected by the American people. This means that those who run the Federal Reserve are unaccountable to the people. The seven members of the Board ultimately decide the price or purchasing power of our money. That kind of central planning would never exist in a true free market economy. The Fed essentially can control the cycles of the economy which is not good. It bears significant responsibility for every financial crisis over the past century including the Great Depression, the stagflation of the 1970s and recent economic meltdown. The Federal Reserve lowers interest rates below the market rate which increases the supply of money. Throughout its 100-year history, it has always operated under a veil of secrecy. The Federal Reserve has never been fully audited by any outside source. Our elected representatives in Congress have very little oversight over the central bank. It has continually resisted any kind of congressional oversight claiming that it would endanger its “independence.” The policies of the Federal Reserve hurt the average American. It benefits the privileged few at the expense of the rest of us. The central bank serves big spending politicians, big bankers and their friends. The Federal Reserve acts as the lender of last resort. An audit of the Federal Reserve revealed $16 trillion in secret bailouts to corporations and banks around the world in less than three years. These bailouts happened without a single vote taking place in any chamber of Congress.

http://www.federalreserveonline.org/

http://www.cnbc.com/id/102469189

http://www.freedomworks.org/content/top-10-reasons-end-federal-reserve