That the Federal System was created by a bunch of far-sighted and enlightened bureaucrats and academics. This led to an onslaught of academic rationalizing while mainstream economic positivists called you a kook. However, nothing could be further from the truth. The federal reserve system was advocated by the nationalistic bankers. Unfortunately, progressives wish to tell another story. They wish to tell you that the creation of the Federal Reserve was in the best interest of the people. Yet, modern day lw kooks refuse to audit the Fed, all while praising transparency.