How the Federal Reserve Created an American Caste System
28th March 2024
In 1913, Woodrow Wilson and his progressives promised that the Federal Reserve would avert both depressions and inflation, while preventing the wealthy from controlling America’s financial markets at the expense of the poor.
More than a century later, it’s clear that was all a lie, and the Fed has helped create a permanent American underclass.
The Fed was designed to transfer wealth from the American people to the government, mostly through the hidden tax of inflation. But this process has prevented countless American families from being able to save and get ahead, because their savings are constantly losing value.
The purchasing power of the U.S. dollar is just about 10% of what it was when I got my first job out of college in 1978.