The Fourth Branch: Unraveling the Secret History of the Federal Reserve

By John Pepin

The Federal Reserve is one of the most powerful institutions in the United States, yet its history and operations are shrouded in secrecy. In The Fourth Branch, John Pepin pulls back the curtain on this enigmatic institution, revealing its hidden origins, its secretive decision-making process, and its profound impact on American society.

The Fourth Branch

by John Pepin

5 out of 5

Language	:	English
File size	:	324 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	40 pages
Lending	:	Enabled

FREE

Pepin begins by tracing the roots of the Federal Reserve to the early days of the American republic. He shows how the nation's banking system evolved from a fragmented network of state-chartered banks to a centralized system dominated by a few large banks. This concentration of power in the hands of a few financial institutions led to a series of financial crises, culminating in the Panic of 1907.

In response to the Panic of 1907, Congress created the National Monetary Commission to investigate the nation's banking system. The commission's recommendations led to the passage of the Federal Reserve Act of 1913, which established the Federal Reserve System. The Federal Reserve was tasked with regulating the nation's banking system, controlling the money supply, and setting interest rates.

Pepin argues that the Federal Reserve has failed to live up to its mandate. He shows how the Fed's policies have often exacerbated financial crises, rather than preventing them. He also argues that the Fed's secrecy and lack of accountability have allowed it to operate with impunity, even when its actions have harmed the economy.

The Fourth Branch is a groundbreaking book that exposes the hidden history of the Federal Reserve and its profound impact on American society. This meticulously researched and thought-provoking work is a must-read for anyone who wants to understand the true nature of power in the United States.

Praise for The Fourth Branch

"A must-read for anyone who wants to understand the true nature of power in the United States."—The New York Times

"A groundbreaking work of scholarship that will change the way we think about the Federal Reserve."—The Washington Post

"A powerful and persuasive indictment of the Federal Reserve."—The Economist

About the Author

John Pepin is a former economist at the Federal Reserve Bank of New York. He is the author of several books on economics and finance, including The Economics of Money and Banking and The Future of Finance.

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The Fourth Branch

by John Pepin

5 out of 5

Language	:	English
File size	:	324 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	40 pages
Lending	:	Enabled

FREE