by Prof John Kozy
No matter how hard we try, no one can control the future, and we cannot assume the future will be like the present.
Woodrow Wilson signed the law that established the Federal Reserve. He later rightly lamented having done so. He writes, "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." Oh, how right he is, and oh, the mischief the FED has wrought! But establishing the FED must have seemed right to Wilson when he signed the law. Thoughtful article here