Why give any credence to a statement about the Federal Reserve Bank that starts out with "Its unchecked power to create endless amounts of money out of thin air ..."? That is patently false. Once again, only the US treasury Department can print or otherwise create US currency.
I know this post is a little old now but I have to say something here.
Yes, the US treasury physically prints the money and creates the actual currency/cash we use. But the Federal Reserve is responsible for the actual money supply. They have the legal monopoly on artificial credit expansion and money supply. When people say the fed "is printing money." They don't mean literally, because they're not physically doing the printing of new money but they ARE creating credit out of thin air which ultimately amounts to money creation.
When people point out that the treasury prints the money and not the Fed, it is more of a red herring and changes nothing.
