Why the Federal Government Harmful

      The Federal Reserve is a privately-owned central bank that has driven the United States government to the verge of bankruptcy, controlled America's currency, and has ran our economy. It's a very private bank, and always operates in secrecy. The actions the Federal Government takes has an impact on every single America. It basically is designed to diminish wealth from the U.S government and provide it to the rich.
      You could say that the Federal Reserve basically creates the money out of thin air. In an article, by The Economic Collapse, there were facts in the article that agreed this is true, however, it didn't seem as if the people had been greatly upset by this. During a hearing, U.S Rep. Ron Paul had straight up confronted Chairman Ben Bernanke about all this money that came from nowhere. All he did was nod his head, because it was essentially the truth.
      The Federal Reserve hurts the middle and poor class. In an article, written by Julie Borowski, she agrees that our hard-earned money is stolen through a hidden inflation tax. The increase in the supply of money and credit is called inflation. this is what hurts the poor the most because they have less disposable income. The consumers that have low disposable incomes will of course be negatively impacted by the higher prices for clothing and food.
      In the video that we watched in class, it talked about how in the 10th century, people traded things they had for things that they wanted. Until a golds man came along and was like "why don't we trade gold for things that we need!" This then led to commerce, which is the act of buying and selling. Then banks came along and said that they could hold everyone's gold for a "little fee". Bankers began to lend out IOU's for all of this money. Prices began to rise as people began to buy things, which is known as inflation. Inflation makes the IOU's less and less until they're worth nothing. This guy worked hard to get his money, and now he has to work even HARDER to get paid less. As soon as everybody wanted their money back, the bank had nothing to give.
      So this is why I think the Federal Reserve is harmful for our economy. The Federal Reserve just creates all of this money out of nowhere, they harm the poor and middle class, and they make people work hard just to get paid less.