The Fed

The Federal Reserve is a detriment to our country by a long shot. the government doesn't even really have control over its own currency. Federal Reserve is the largest buyer of U.S. public debt, enabling the government to live beyond its means.The Fed is a collection of 12 banks, TWELVE! It doesn't seem right to me that only 12 banks are controlling the entire country. The Fed operates independently, meaning its decisions don't have to be approved by the President or anyone. The Board of Governors oversees the 12 Federal Reserve Banks, which are located in major cities around the country. These banks are the banks ' bank ' loaning and transferring money like our banks do for us. So theoretically speaking, if The Fed were to stop loaning money, all of americas banks would run dry, even the government. The Fed has too much power.