Erik Voorhees points out that the Federal Reserve has consistently failed at its most fundamental function.
the value of the dollar remained extremely stable for 150 years, the Fed was created in order to “stabilize the value of the dollar,” and the result has been a 95% devaluation of the dollar in less than 100 years following its creation.
Of course the real purpose of the Federal Reserve, like all central banks, is to use inflation as a hidden tax.
But they’ll never admit that.
