On December 23, 1913, President Woodrow Wilson signed the law creating what would become the world's most powerful financial institution. For me it's probably the most destructive institution that has been created As long as the Fed has been around, it has swung the economy between inflation and recession. Politicians created a fully government-run institution to bail out government and bad banks alike: the Federal Reserve. Since its founding, the Fed has stolen 98% of the value of a dollar. It has used those profits to repetitively launch boom-bust cycles. Click excerpt link for more...