The Creature That Ate America: The Federal Reserve and the Slow Ruin of the American Economy

The Creature That Ate America: The Federal Reserve and the Slow Ruin of the American Economy

Since the Federal Reserve was created in 1913, the dollar has lost more than 97 percent of its purchasing power. That is not a market outcome. It is not an accident of history. It is the predictable result of a century of decisions made by an institution most Americans cannot describe, operating through mechanisms most Americans have never been shown, producing outcomes that have consistently benefited the financial industry and the federal government at the direct expense of ordinary savers, workers, and retirees. The Creature That Ate America is the book that finally explains it plainly. Written by financial advisor Wilder Bailey, this meticulously researched narrative takes readers from the secret 1910 meeting on Jekyll Island where the Federal Reserve was designed — in private, under assumed names, by the nation's most powerful bankers — through a century of boom-and-bust cycles, bailouts, bubbles, and the worst inflation in forty years. Drawing on the documented admissions of Fed chairs, Nobel laureate economists, and the Fed's own research, Bailey makes the case that has been hiding in plain sight: The Federal Reserve does not serve you. It never has. You will learn: Why the Fed's own chair admitted on the record that the institution caused the Great Depression - How the Nixon White House secretly pressured the Fed to keep rates low before the 1972 election — and what it cost every American for the next decade - Why the 2008 bailout cost $16 trillion — not the $700 billion Congress was told about - How seven years of zero interest rates quietly transferred $360 billion away from savers and retirees to banks and borrowers - What the Fed's own economists documented about who benefited from quantitative easing — and why the policy continued anyway - Why the worst inflation in forty years was predicted, warned about, and ignored — and who paid the price This is not a conspiracy theory. It is a documented, sourced, century-long record of an institution that was built in secret to serve specific interests, and has done so with remarkable consistency ever since. It is written for every American who has watched their savings earn nothing, their grocery bills climb, their home become unaffordable, and their retirement plan fall short — and wondered why. Now you will know why. Wilder Bailey is a Registered Investment Advisor and the founder of Bailey Financial Services in Watkinsville, Georgia. He is the author of Think Like a Survivor, Invest Like a Strategist.