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Federal Reserve

Surowiecki: Acknowledging uncertainty is Ben Bernanke's strength as Federal Reserve chairman →

tags: Ben Bernanke, Federal Reserve | # | comment Jul. 8th, 2006

In the Hands of a Few Men

July 3, 2004

Outlining the Wikepedia article on the Federal Reserve system, Lloyd quotes Woodrow Wilson on the legislation that created the Fed: “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.”

tags: Federal Reserve, Woodrow Wilson
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