So, what are your thoughts on the Federal Reserve? I'll start the thread with some notable people's opinions on the Fed, and related to the Fed. “I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” - Thomas Jefferson "This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." -- Charles A. Lindbergh Sr. 1913 "From now on, depressions will be scientifically created." -- Congressman Charles A. Lindbergh Sr. , 1913 "It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford "People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan". - THOMAS A. EDISON “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” – James Madison “The national debt is founding in fraud perpetrated on the United States by the international banking interests. The best solution to national debt and social security is for the United States to stop allowing a corporation to print money and charge us interest to do it. The Federal Reserve should be abolished as a starting place to liberate the United States from false dependencies.” – Andrew Jackson “My agency in promoting the passage of the National Banking act was the greatest financial mistake in my life. It has built up a monopoly which effects every interest in the country”. – Salmon P. Chase – Lincoln’s Secretary of Treasury “Before passage of this Act, the New York Bankers could only dominate the reserve of New York. Now, we are able to dominate the bank reserves of the entire country.” – Senator Nelson Aldrich – On the Passage of the establishment of the Federal Reserve Bank “The Government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By the adoption of these principles.. the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” – Abraham Lincoln “The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy.” – Abraham Lincoln “If this mischievous financial policy is which has it’s origins in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedence in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy ever monarchy on the Globe. “ – Times of London - In response to Lincoln printing “Green Backs”. "A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world--no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men." --President Woodrow Wilson After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had committed to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation. When elected, Wilson passed the FED. Later, Wilson remorsefully replied, "I have unwittingly ruined my country" So, it's well established that many people with deeper understanding of money and our country abhor the Federal Reserve banking system, and fractional reserve banking. What Is my opinion? I would say that I'd have to agree with them, Thomas Edison said it best. I disagree with a gold backed money system, because gold is easy to monopolize, I agree with a central banking system, but I disagree that it should be in private hands and thus controlled by private interests (the money changers). If we had a pulbic central bank that utalizes a fiat money system, it would be a dream come true, we'd have greenbacks again!