What GOOD does the Federal Reserve do for our economy, and state as a whole?

Question

I am under the belief, due to some research, that the Federal Reserve creates something out of nothing (that, of course, being money). Rather than the old system we used 1913-prior where money was just a receipt for gold in Fort Knox. How can this possibly good, since our money is now down to nearly 4 cents from where it started (at one dollar)?

Answer 1

The Federal reserve is an illegal institution, it is private bank the counterfeits money, prints it out of thin air and loans to the government at interest.the Federal Reserve Act was passed, in 1913, to make Americans think that America’s central bank operates in the public interest. The truth is that the federal Reserve is a private bank owned by private stockholders and run purely for their private profit.

Answer 2

By creating the Federal Reserve System, Congress intended to eliminate the severe financial crises that had periodically swept the nation, especially the sort of financial panic that occurred in 1907. During that episode, payments were disrupted throughout the country because many banks refused to clear checks drawn on certain other banks, a practice that contributed to the failure of otherwise solvent banks. To address these problems, Congress gave the Federal Reserve System the authority to establish a nationwide check-clearing system. The System, then, was to provide not only an elastic currency—that is, a currency that would expand or shrink in amount as economic conditions warranted—but also an efficient and equitable check-collection system.

Answer 3

They control the money supply and interest rate between banks.  

Answer 4

You should read a book ---- " The Prince "

A most interesting book -------

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Answer 5

Many, including myself, believe that the Federal Reserve is unconstitutional as well as a very poor way to manage the wealth of a nation.

Answer 6

The Federal Reserve does some good, especially for the short term, like stimulating the economy with extra cash, like the recent stimulus checks.  This is done by inflation, which isn't always a bad thing, you need it to expand investments and the economy, but it can get out of hand, especially with a power hungry government.  This out-of-control causes things like business bailouts and obscene government spending.

As you keep overdoing the stuff I mentioned above, you gradually accumulate debt and devalue the currency which causes goods and services to become more and more expensive.

Answer 7

NONE. It's partially responsible for this economic downfall.