The creation of the Federal Reserve Bank was authorized by the United States Congress by a narrow majority vote just before congress went on break for the Christmas holiday in 1913. Its existence was born out of manipulations from the banking elite of the time. The directive for the newly formed Federal Reserve was limited, however as time passed, this budding banking institution became a central planners dream for all things monetary.

The ownership of physical gold was banned in 1933 by President Theodore Roosevelt. Eleven years later at the end of WWII allied powers were finally victorious in the creation of an international monetary treaty in Bretton Woods New Hampshire. In 1944, the Bretton Woods Agreement was born where it was agreed upon to use the dollar as if it were gold by backing the dollar with real gold at 10% using a pegged value of $35.00 per ounce...