THE FEDERAL RESERVE BANK

The Federal Reserve is the central banking system of the United States. The Federal Reserve banks are authorized to print money for our country. Every country in the world has a similar system except China.

The paper money in your pocket right now is called Federal Reserve Notes. Our government guarantees these notes. In the old days, there was gold guaranteeing our paper money. Not so any more.

The Fed prints as much money as it deems appropriate. This has a major effect on our economy. It changes interest rates which change the value of everything. It's a lot of responsibility that we have given to the group of people who govern this banking system. Some people think they have way too much power. Maybe more power than anyone else in the country.

Dr. Rand Paul, who has won the Republican nomination for Senator of the Commonwealth of Kentucky has made it part of his platform that he wants an audit of the Federal Reserve. Conspiracy theorists have long wondered who really controls the Federal Reserve and what agenda do they really have. The last president who threatened to take away the power of the Federal Reserve, JFK, ended up dead.

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