Econintersect: Blogger Michael T. Snyder reviews some history about the banking system in the U.S., including quotes from President Andrew Jackson and industrialist Henry Ford. Snyder is very outspoken in his opposition to the Federal Reserve Bank. He accuses the system as set up to “make money for the international banking elite.”Snyder discusses a list of ten things that would be different if the Federal Reserve Bank had never been created. His list includes the propostition that the government would be debt free.
Snyder maintains that the Federal Reserve system is “giving gigantic piles of nearly interest-free money to the big Wall Street banks.”
He also attributes much of the inflation over the past 90 years to the Fed.
Source: GEI Opinion Blog