I'd love to hear some arguments why we need the Federal Reserve System and "elastic" fiat currency in general. Also, if you could tell me why fractional reserve banking is not fraud, I'd greatly appreciate that. Thanks! Also, if you think the Fed Board are a bunch of counterfeiters printing money for defrauding depositors and paying off the ever growing deficit, feel free to say so. If you don't know what the Federal Reserve is, then I suggest you find out because it is controlling our economy.