The Fed should take to heart the words of consolation the American people
are given whenever a new government surveillance program is uncovered: if you’re not doing
anything wrong, you have nothing to worry about.
The superstitious reverence that Americans have been taught to have for the Federal Reserve is
unworthy of the dignity of a free people. The Fed enjoys a government-granted monopoly on the
creation of legal-tender money. It is not an unreasonable imposition for Americans to demand to
know about the activities of such an institution. It is common sense. (Testimony before Congress of Thomas E. Woods, Jr.)