Federal Reserve?? is good or bad for our economy ? for our Family ? Look this Video :?

Question

http://video.google.com/videoplay?docid=-466210540567002553&q=money%2Bbanking%2Band%2Bthe%2Bfederal%2Breserve&total=294&start=0&num=10&so=0&type=search&plindex=0

Answer 1

I don't have the space here to explain everything that is wrong in that video. However, one of the claims in that video is that the Federal Reserve has never been audited. Guess what? The Federal Reserve is independently audited EVERY YEAR and that can clearly be seen in the Federal Reserve's ANNUAL REPORT TO CONGRESS.
http://www.federalreserve.gov/boarddocs/rptcongress/
http://www.federalreserve.gov/boarddocs/rptcongress/annual06/pdf/audits.pdf

Second, President Wilson was not discussing the Federal Reserve in the quote mentioned in another answer. He made those statements in SEPARATE campaign speeches he gave in 1911 and 1912. They are published in his book, "The New Freedom", which was printed in 1913, BEFORE the Federal Reserve Act was signed. You can read them for yourself at http://www.gutenberg.org/files/14811/14811-h/14811-h.htm
What he was talking about was corporate monopolies and private bankers BEFORE the Federal Reserve was brought into existence.

Answer 2

"From Woodrow Wilson with Regrets"

In 1916, just three years after the Federal Reserve System went into operation, President Wilson seems to have suddenly realized what a virtually uncontrollable power monopoly had been vested in the nation's new Federal Reserve System. He wrote:

A great industrial nation is controlled by its system of credit. Our system of credit is concentrated [in the Federal Reserve System]. The growth of the nation, therefore, and all our activities are 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 civilized world-no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of small groups of dominant men. (Quoted in "National Economy and the Banking System," Senate Documents Co. 3, No. 23, Seventy-sixth Congress, First session, 1939.)
http://www.nccs.net/monetary_reform2.html#1

Paul08