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I’ve heard a lot of conspiracy theories about the Federal Reserve in my days in corporate finance. Even among a small minority of fringe economists (namely, the Austrian school of macroeconomics), a lot of people misconceive the actual role of the Federal Reserve. These misconceptions and conspiracy theories are a little odd, considering the actions of the Federal Reserve are all quite transparent. Its reports are all available for public view, its actions are all over the news each day, and the public can even see its hearings on TV sometimes. The Fed, as it’s often called, actually has very limited power, so some of the conspiracies that exist tend to be nothing more than fantasy.

In contrast, the U.S. Treasury is practically immune to conspiracy because it’s just an arm of the bigger federal government. The corruption usually exists among those with higher authority (the Treasury isn’t really a decision-making body). The following sections take a brief look at each of these government entities.