100 Years of the Federal Reserve

Truth in Media

by Ben Swann / December 19th, 2013

The United States Federal Reserve announced Wednesday that it will start drawing down (i.e. “tapering”) its multibillion-dollar quantitative easing policies in 2014.

The Fed will begin tapering its $85 billion monthly purchases of Treasuries and Treasury mortgage-backed securities by $5 billion each starting in January.

100 years ago, this December, the United States Congress created a central bank today, we know it as the Federal Reserve Bank of the United States. What most people don’t know is that the bank isn’t a federal entity and candidly, it really has nothing in reserves.

Is the Federal Reserve good for the United States? Is it even possible to get rid of it?

The first step toward truth is to be informed.

http://youtu.be/Fdfq-sDgFU8

Ben Swann spent 14 years working as a journalist in broadcast news. In 2010, he became a prime time anchor with WXIX and there became the producer/writer/anchor of a segment called “Reality Check”. While covering the 2012 Republican Presidential primary he began to confront the problems in the American electoral process, the stranglehold of America’s two party system and the suppression of voters’ choices by the corporate media. Read other articles by Ben, or visit Ben's website.

This article was posted on Thursday, December 19th, 2013 at 9:34pm and is filed under Currency, Finance, Video.