So, is the Fed Doing a Good Job in Stabilizing the US economy ?

Question

This is how the Fed works :

"First, government doesn’t create money directly; its central bank does. Second, the bank rarely needs to turn to the printing presses. Instead, it often buys government debt, such as bonds, by writing a check. “There is no money to back up this check,” Griffin explains. “By calling those bonds ‘reserves,’ the Fed then uses them as the base for creating nine additional dollars for every dollar created for the bonds themselves. The money created for the bonds is spent by the government, whereas the money created on top of those bonds is the source of all the bank loans made to the nation’s businesses and individuals . . . ."

Answer 1

Call it what you want,they're still printing monopoly money.Its' still based on something we do not yet have and for which we must pay sooner or later,sooner is better,if it is not already too late.

Answer 2

This was a terrible idea from the very start, I believe Thomas Edison voted against it.  He had the right idea! Look at us now.

Answer 3

No, they are the very reason for its ruin.

Answer 4

As you understand, the Fed is unconstitutional.  The constitution states that only gold and silver will be used as  money.  Congress is charged with setting the value of monies and has NO power to pass that power on to any other agency or group.