In 1913, Woodrow Wilson and his progressives promised that the Federal Reserve would avert both depressions and inflation, while preventing the wealthy from controlling America’s financial markets at the expense of the poor.

More than a century later, it’s clear that was all a lie, and the Fed has helped create a permanent American underclass.

The Fed was designed to transfer wealth from the American people to the government, mostly through the hidden tax of inflation. But this process has prevented countless American families from being able to save and get ahead, because their savings are constantly losing value.

For two decades, the Fed kept interest rates artificially low to help finance massive government spending. When that spending reached unprecedented heights in 2020, the Fed intervened more drastically than ever, creating trillions of dollars and devaluing the currency.

Thus began an unparalleled transfer of wealth that continues to this day, and which has driven a wedge between different groups of Americans.