the federal reserve explained

i was thinking about this last night before i went to sleep. and i have often given little rants about this to people who like hearing my political opinions on things.

united states currency is regulated and printed by a semi-private organization known as the federal reserve. until, i think, about 40 years ago, the federal reserve printed money based on a gold standard. this meant, that any money you had, you could legally exchange for gold.

oh but those days are no more. currency is now based on full faith and credit in the united states, meaning jackshit. our money is based on faith in the assertion that the american economy will always be "good for the money."

(have you noticed im trying to be calm? its really hard.)

the reason this is so bad is because our entire econmoy rests on the legitimacy of the federal reserve and since there is no legitimate federal oversight, its pretty safe to assume the reserve only has its own interests in mind.

essentially all of the dollars in the united states are loaned to us from the federal reserve (AT INTEREST), which means we are at any given moment in time always going to be indebted to our own currency. your dollar is no longer worth a dollar; its worth a dollar and nine cents. royally uncool? yes.

though the federal reserves relies on us not being able to pay the money back, the false inflation really doesnt put me at ease. though the federal reserve has the power to restrict and allow the printing of money, their little bit of independence from the government who represents me is a little scary. and though many libertarians call for, at the very least, a restoration of the gold standard, we have seen no progress. honestly, having a massive reserve system entrenched in the economy of my country isnt a completely bad thing. giants are harder to move. in times of economic uncertainty (like now), i really long for the days when there was more accountability on our part and less discretion on theirs.