In the meantime you can run to Wiki anytime someone poses something you didn't know. Like every 5 minutes.How do they manipulate the value of our currency? How was value determined before the Fed?
Wow three pages and he still hasn't answered the basic question. Mere ass-talking by one of the great ass-talkers of our times.
And looking things up in Wiki isn't doing research.
Go check John Steele Gordon Empire of Wealth or James Grant History of Banking in the US for real answers. And no, you cannot Wiki them.
And don't post here until you've done so so we can avoid stinking up the thread again with more of your ignorant ass-talking.
Ok, Rabbi Keynes, it's obvious you have nothing to say. Thanks for the reading list, but I'll wait until you actually contribute something to the discussion to take you seriously.
We need a Federal Reserve because JP Morgan died in 1913.