Handbook of Texas Online, Martin Donell Kohout, Clint, TX, accessed August 18, 2016, http://www.tshaonline.org/handbook/online/articles/hjc13. Uploaded on June 12, 2010. Published by the Texas State Historical Association.
One of the most ungodly and fraudulent institutions ever perpetrated on the American people and the world, is the Federal Reserve System which through deceit became the central bank of the United States in 1913. The idea came about on a meeting in Jekyll Island off the coast of Georgia in 1910.
Following the Great Depression, Congress passed the Banking Act of 1935, which established the Federal Open Market Committee (FOMC) as the Fedâs monetary policymaking body. The Federal Reserve Reform Act of 1977 was enacted during a period of surging inflation.