Federal Reserve Act Signed Into Law 109 Years Ago Today

On December 23rd, 1913, President Woodrow Wilson signed the Federal Reserve Act into law. This act established a cartelized banking system in the United States and ushered in an era of statism, economic crisis, and war. The Federal Reserve Act created a central bank that would be responsible for controlling the money supply in the United States. The act also allowed for private banks to become members of this cartelized banking system and issue their own currency backed by government bonds. This gave private banks control over the money supply which they could then use to manipulate markets and interest rates. The Progressive Era was marked by increased government intervention in the economy as well as increased taxes on businesses and individuals. This led to higher prices for goods and services which made it harder for people to make ends meet. It also resulted in more economic inequality as those with access to capital were able to take advantage of these policies while those without access were left behind. In addition, this period saw an increase in military spending as governments sought to gain power through force rather than diplomacy or negotiation. This resulted in two world wars as well as numerous other conflicts throughout the century that cost millions of lives and trillions of dollars. Today marks 109 years since President Wilson signed the Federal Reserve Act into law and many are calling for its repeal so that we can move away from statism, economic crisis, and war towards a more peaceful future where all people have access to financial security and prosperity. #EndTheFed https://t.co/MIcBnvOrbc