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The Federal Reserve is basically a cartel of bankers who out smarted the U.S government 100 years ago and formed a centralized bank, which the founding fathers despised. Today the Fed, which is a privitized company, makes all the money that is in circulation. The system is basically this: The government needs say 1 billion dollars, they trade government bonds for the money that the Fed creates out of nothing and bam, the U.S is a billion dollars more in debt. But that's not all! Like any loan they Fed charges interest of 10%. So instead of owing the Fed a billion dollars for what they borrowed they actually owe a billion plus 10% interest. So every dollar in the US is actually -10 cents. The people who own this company are a mystery, and they are likely the richest people in the world.
Contributed by Artemio Enrique Flores