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Federal Reserve System is 100 in 2013

– “Two Awful Anniversaries: Income Tax and Federal Reserve”
This story appears in the March 4, 2013 issue of Forbes.
By Steve Forbes

“This year marks the 100th anniversary of the federal income tax (February) and the Federal Reserve System (December), both of which today are doing immeasurable harm. And, thankfully, both will be undergoing enormous changes.”

“Amazingly, our central bank has no concept of the proper role for such an institution, which is to give us a stable currency and deal with financial panics quickly and decisively. Since the late 1990s the Federal Reserves actions have been unhinged. Its deliberate policy of weakening the dollar was the prime cause of the 200809 financial crisis. If the dollar hadnt been weakened we would never have had the housing bubble. The Feds current policies have severely restricted economic growth.”

“Why should the dollar be linked to gold? Because more than any other thing on earth, gold keeps its intrinsic value. Its like the North Star, always constant. Thus its a handy measuring rod for keeping the value of money steady.”

Steve Forbes is the co-author of Freedom Manifesto: Freedom Manifesto: Why Free Markets Are Moral And Big Government Isnt
Read more

– “Money, Banking, and The Federal Reserve System”
in Documentaries, Front Page
Click here to watch the full documentary now

Posted by Steve on February 24, 2013 at 5:52 am | Permalink

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