Among the topics discussed in the last Republican debate was Senator Rand Paul’s advocating an audit of the Federal Reserve. Senator Ted Cruz is also cosigning this bill to have Congress exercise its auditing and oversight authority of the Fed, a duty that has been sorely lacking throughout the Fed’s murky history. The Federal Reserve, a major contributor to our highest-ranking debtor status, has become a central banking debt machine that exerts tremendous control over the U.S. economy; yet many Americans are barely aware of its existence or the power it wields.     Created in 1913 by Congress to combat financial panics, the Federal Reserve is composed of the twelve regional big commercial banks. The controlling board is composed of five members from those banks and seven members, nominated by the president, including his appointed head of the Federal Reserve -- currently, Janet Yellen. This unholy alliance of government and private banks is supposed...(Read Full Article)