Abolishing the Federal Reserve System might seem like a drastic idea, but not when you get the full story...
You see, Congress created the U.S. Federal Reserve System to restore public confidence, provide the banking system a source of liquidity that would prevent its collapse and protect the public against inflation.
A century later, the banking system is so big its risks dwarf the Fed's liquidity capacity, and what cost a buck back then now will set you back $21.
That's why we asked Money Morning Chief Investment Strategist Keith Fitz-Gerald to explain how the Federal Reserve System actually helps a country's economy.
Most importantly, we wanted to know if the United States - or any country - even needs the Fed anymore.
Just listen to Fitz-Gerald's answer in the following interview.
For more on the U.S. Federal Reserve System, check out 5 Things the Federal Reserve Hopes You'll Never Find Out.Tags: Federal Reserve, federal reserve act, federal reserve conspiracy, Federal Reserve System, FOMC Meeting, Interest Rates, Money Morning TV, The Fed, the wall street jounal, what is the federal reserve bank, what is the federal reserve rate, who owns the federal reserve