Federal Reserve System.

[kurgan]

I keep hearing this stuff about The Fed: "End The Fed", etc.

I am not an American, or even a Westerner, so I am not sure how to react.

Is Fed-bashing legit?

Or is it the thing only tin-foil hat wackos do?

 

[Quaxar]

Fed bashing you say?

Those feds?
http://cdn.airnation.net/wp-content/uploads/2012/07/fedex_boeing_767_uu78.jpg

 

[DudeistBelieve]

I keep hearing this stuff about The Fed: "End The Fed", etc.

I am not an American, or even a Westerner, so I am not sure how to react.

Is Fed-bashing legit?

Or is it the thing only tin-foil hat wackos do?

From what I understand, the Federal Reserve Bank (despite the name) is not a property of the U.S. Government but several banking companies. Why is it a problem? Because due to some bill President Hoover(I think) signed into law, the Federal Reserve is the only entity that can tell the U.S. Treasurey to print money. Essentially we have the printing of our money, our very economy, in the hands of banks.

Hence, America's current financial crisis.