Woodrow Wilson a PROGRESSIVE president, created the Federal reserve in 1913, to STABILIZE the economy, they are doing the exact opposite, benefit of hindsight? The federal reserve is a marxist organization!!! In 1935, 22 years after the creation of the federal reserve, the new deal was created by roosevelt, another liberal president!!! The dollar was still backed by gold!!! Social security and massive welfare programs were created. These programs bankrupted the united states, so the treasury was losing all of its gold, in order to fund this massive spending, Roosevelt signed executive order 6102 to rob its own citizens of the money they rightfully earned! You can own dollars backed by gold, but you couldn't own the physical gold. That sounds extra retarded to me. So, in 1971, president ford, a Republican, removed the dollar from gold standard, it only took 36 years for the usa to go broke as a result of these entitlement programs. He also made it legal for Americans to have gold again. From history, its obvious the progressives are destroying the united states prosperity. After 1971, prices became unstable to fiat currency and inflation.