The Federal Reserve is neither Federal nor a Reserve. Owned by a corrupt group of International Bankers, it is a privately owned monopoly, largely responsible for creating America's National Debt. It is also a parasitic and unnecessary entity that literally creates American currency out of nothing and then collects interest on the backs of taxpayers for doing so.
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LINKS and REFERENCES:

1. Illegal IRS: The Unmasked deceptions of the Internal Revenue Service which is privately owned and actually operates out of "Puerto Rico", with "agents" who represent them in the US (31 Questions and Answers with legal references):
http://www.supremelaw.org/sls/31answers.htm

2. Recommended Documentary: "America: From Freedom to Fascism"

3. The Shrinking Value of the Dollar:
http://www.infoplease.com/ipa/A0001519.html

4. Many homeless Middle Class are living in their cars; from a New York Times article story on the "mobile homeless":
http://www.dailykos.com/story/2006/4/2/93415/04852

5. "...that plush North American lifestyle to which we've all grown accustomed has been bought on credit, and the bill is rapidly nearing its due date."
http://www.macleans.ca/topstories/world/article.jsp?conte...

6. "Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash"
http://www.propagandamatrix.com/articles/october2006/3010...

7. "As the US current-account deficit rose over the past half-decade, international economists have lined up to predict doom" - J. Bradford DeLong, Professor of Economics & former Assistant US Treasury Secretary.
http://www.project-syndicate.org/commentary/delong28

8. "The reason we cannot accomplish this seemingly simple task of balancing currency with production is that our government does not exercise its sovereign prerogative of controlling the money supply" --Business Week: by Mark Weisbrot
http://www.commondreams.org/headlines04/0729-02.htm

9. Creating the 'North American Union':
http://www.thenewamerican.com/artman/publish/article_4213...
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WHO OWNS THE FEDERAL RESERVE?

The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman Sachs and the Rockefeller families.
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Additional Tags:
tyrranyofsouls tyrannyofsouls
doj Ed and Elaine Brown of Plainfield (less info)