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Should the Fed be shuttered?

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The Federal reserve is an unellected organization with no Constitutional charter. They exist by mere legislative act. Today, we found out that not only has the Fed dispensed 2 TRILLION dollars worth of bailouts (more than what was authorized by the way), but also refuses to sau how that money was "invested".

The Fed is an organization that has been highly secretive and highly questionable since it was implemented. Is it time to shutter the organization completely?