Conspiracy theorists wrong about Federal Reserve

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The Federal Reserve System has long been the target of conspiracy theorists. It is the U.S. central bank and is in charge of the U.S. dollar, the largest and most important currency in the world. With that role comes some power. However, since the people in charge of the Federal Reserve (the Fed) are not elected like Senators, Governors and Presidents, it is an easy target for conspiracy theorists.

The online movie Zeitgeist from a few years ago took aim at the Fed. It claimed they have control of the world and have aims that are not what they tell us. This movie was very popular and this gave the conspiracy theory more legs.

With the U.S. economy in a long period of slow growth and high unemployment, not to mention the great recession in 2008, the Fed has had to work overtime to help the economy back to good health. They implemented a bunch of measures, but as we are experiencing, they have only managed to keep things from becoming worse, while not really improving things in a major way. Recently, the Fed has said that they are running out of tools to use and do not have enough power, influence or control to really make a difference right now. They say that the government, meaning the Congress and White House need to come together and pass important legislation to help the economy.

This proves in a very real and even painful way that the conspiracy theorists have been wrong all along. If the Fed was even close to being as powerful as these conspiracy theorists believe, then there is no way the U.S. economy would be sputtering around like it has been for a few years now.

The sad part is that these conspiracy theorists have largely been unable to connect the dots and figure this simple reality out. I guess if they could, then they probably wouldn’t have believed this far-fetched theory to begin with.