The FED was created to back up the banks when they serially had lent much more than there is purchasing power to repay themselves…and then when we have severe cases of this…to bail out the banks while ignoring the victims of the banks’ monopoly paradigm of Debt Only, namely the individual economic agent whose purchasing power is meager to begin with and worse when inflation followed by deflation makes it even worse.
The FED’s charter needs to be amended to break up the banks’ monopoly paradigm for the creation and distribution of all new money expressed above by having it create the rebated monetary gifts back to retail merchants (including Finances retail point which is one’s monthly auto, mortgage etc. payment) so as to make those merchants whole on the 50% Discount they have agreed to grant to the consumer.
This single policy resolves the deepest probems of modern economic systems and would usher in universally abundant individual purchasing power and the most stabily profitable period in capitalism’s history.