The 1913 Federal Reserve Act is U.S. legislation that created the current Federal Reserve System.1 Congress developed the Federal Reserve Act to establish economic stability in the United States by introducing a central bank to oversee monetary policy.
The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress.... While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations. Member banks hold stock in the Federal Reserve Banks and earn dividends.
By stable they mean stability for their friends and status quo insiders.
Fiat money is a currency established as money, often by government regulation, that does not have intrinsic value. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.
The more you know!