History and Purpose of the Federal Reserve

Control the world the money, Control the world -Henry Kissinger

Brief history, know where we coming from to know where we going.

In November 1910, six men – Nelson Aldrich, A. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation’s banking system.

https://www.federalreservehistory.org/essays/jekyll-island-conference#:~:text=In%20November%201910%2C%20six%20men,reform%20the%20nation's%20banking%20system.

A particularly severe panic in 1907 resulted in bank runs that wreaked havoc on the fragile banking system and ultimately led Congress in 1913 to write the Federal Reserve Act. The Federal Reserve System was initially created to address these banking panics.

https://www.stlouisfed.org/in-plain-english/history-and-purpose-of-the-fed#:~:text=What%20led%20to%20the%20creation,to%20address%20these%20banking%20panics.

The Federal Reserve System is the central bank of the United States. Founded by an act of Congress in 1913, the Federal Reserve's primary purpose was to enhance the stability of the American banking system.

https://www.federalreservehistory.org/essays/federal-reserve-history#:~:text=The%20Federal%20Reserve%20System%20is,of%20the%20American%20banking%20system.

What Is the 1913 Federal Reserve Act? The 1913 Federal Reserve Act is legislation in the United States that created the Federal Reserve System. 1 Congress passed the Federal Reserve Act to establish economic stability in the U.S. by introducing a central bank to oversee monetary policy.

https://www.investopedia.com/terms/f/1913-federal-reserve-act.asp#:~:text=What%20Is%20the%201913%20Federal,bank%20to%20oversee%20monetary%20policy.

When was the Feds created?

• 0%1776
• 0%1813
• 0%1913
• 0%1783