The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve System  is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics. Events such as the Great Depression in the 1930's were major factors leading to changes in the system.Without the Feds our country would be in corruption.-There would be no national coordinated monetary policy. Each bank would expand or contract credit based on their immediate business needs, not the nation's requirements.  There would be no elasticity to the currency. You would see more cycles of inflation and deflation.Many people believe that the Majority of the National debt is not owed to the fed. The majority is owed to the People of the United States  through individual bondholders and institutional bondholders like the medicare and social security trust funds. The Fed does not create any debt. Congress alone does that.The fed does print money from time to time but they way that works is they loan the printed money out.It gets paid back and disappears into the same ether it was formed from. In other words the printed money is not added to the economy.The money just gets moved around to smooth out the financial system.The amount of printed money is small compared to the overall economy there is effect that it came from nothing.The fed does make a small amount of money for the treasury in the conducting of its business. But it all goes to the Treasury of the United States not in banker's pockets. I came to the conclusion that I do believe the Federal Reserve is an asset to this country.

Works Cited

"Current FAQs Informing the Public about the Federal Reserve." FRB: What Is the Purpose of the Federal Reserve System? FRB, n.d. Web. 03 May 2015.

"History and Purpose of the Fed." History and Purpose of the Fed. N.p., n.d. Web. 03 May 2015.

"The Structure of the Federal Reserve System - Federal Reserve Education."The Structure of the Federal Reserve System - Federal Reserve Education. N.p., n.d. Web. 03 May 2015.