Essay Example on the Role of the Federal Reserve

Published: 2020-08-13
Essay Example on the Role of the Federal Reserve
Type of paper:  Essay
Categories:  United States Economics Finance Government
Pages: 3
Wordcount: 599 words
5 min read

Most people would agree with the fact that the role of the government is stated clearly in the Bible. Most nations and positions of leadership are based on the principles mentioned in the Bible, and in most cases by Gods laws. It is mentioned in the Bible, that one must pray for their leaders and government as mentioned in 1 Timothy 2:1-2. In addition to the above, most people would agree that Gods creation of the world and humanity was meant for various reasons. The creation of a ruling government is considered as one of the main reasons for its creation. It is through this understanding that one acknowledges the fact that the government exists within all ruling nations to provide an ideal environment providing the works of God.

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It is through the presence of governments that aspects such as the Federal Reserve are in existence in todays world. The Federal Reserve is a system, which is privately owned, as well as, licensed by the government. It is considered as a monopoly since it handles the control of any nations monetary system and is often considered not accountable to anyone. The Federal Reserve was founded in 1913 and is not considered as part of the United States. The Congress was responsible for the formation of the Federal Reserve System. Once this was done, President Wilson approved the Federal Reserve, and it handles the printing of money, control or stimulation of the overall economy as well as inflation of the dollar. Most people would agree that it is because of the Federal Reserve System that the value of the currency has declined over the years.

Taking into account that the Federal Reserve is a monopoly, most American citizens have been victimized by the policies presented by both the Federal Reserve and government. Despite the fact that most people do not understand the role of the federal government, most would agree that the federal government is solely responsible for the inflation rise over the years in the economy. In Proverbs 22:7, the Bible mentions on how the rich always dominate over the poor and how having debts makes one a slave. Through this verse, the relationship of the Federal Reserve and the United States economy can be derived since the founding of the Federal Reserve System. President Wilson once stated the fact that for the prosperity of any government and economy, a proper system of credit should be present within the country.

With the implementation of the Federal Reserve, the overall growth of the country and the activities that come with it are always controlled by a few individuals within the system, hence the dominating factor presented by the Federal Reserve over the citizens. With the control of the monetary value and aspects by the Federal Reserve, it is evident that the overall United States government will always be trapped in debts even in the years to come. It is through the presence of debts and governing policies that one sees the logic of becoming slaves to the system as mentioned in the Bible.

The ordinary American citizen will always be a slave to the lender, and the few dominating men will always control them. As President Wilson stated, that through the presence of the Federal Reserve, the government will always be dominated over, removing the presence of free will and options, as well as, the lack of presence of conviction. It is through the presence of such policies and high-rise of inflation within the American economy that the normal American citizen will find it hard to do what is needed to survive.

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