Thursday, September 15, 2011

Conspiracy: The Federal Reserve

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.Events such as the Great Depression were major factors leading to changes in the system.Its duties today, according to official Federal Reserve documentation, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.

The conspiracy:

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