Something that I found interesting about the Federal Reserve.  I doubt that most Americans are aware that it is a private operation and not an arm of the government.

Little history lesson: From 1837-1862 there was a system of national banks in the USA but then in 1913-1914 a consortium of 12 privately held banks got together and formed the Federal Reserve Bank, an entity that is not part of the US government. These banks then purchased notes from the US mint for printing costs and lent them out through member banks charging interest.

The Federal reserve came into being after its supporters paid for the Presedential campaign of Woodrow Wilson. Wilson signed the bill that transferred the US currency to 12 regional banks. Wilson later regretted his decision, here is what he said.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our credit system is concentrated. The growth of the nation, is therefore, and all of our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a goverment by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men" End of quote. A president of the United States What happened to the markets? Ask the