Before Central Banks
Our Founding Fathers referred to what we now call the Federal Reserve as the Central Bank.
In ancient times most lived off their land producing food while others produced goods and services. They had no need for money because they bartered between each other (cows, chickens, ext.)
But it made for a unreliable labor force because most people preferred to work for themselves, and had little need to work for others on a permanent basis. The British and Dutch, in need of a labor force on their plantations located in various Colonies, concocted a brilliant plan. Folks, they decided to tax those "free roamers" for their land. But the catch was this: they could not pay for it with bartering (things like cows and chickens) they must pay their taxes by money that only the British and Dutch Governments could issue (Much like the Federal Reserve issues today).
The plan worked brilliantly. People who would not be loyal to the plantation owners must now work for them to obtain this solely government issued money just to keep their own land. Andrew Jackson was so against the Central Banks that he referred to them as a "den of thieves" (but more on this below)
One can read more about this form the 1800's documents
Brief History Of The Federal Reserve:
“It is not our own citizens only who are to receive the bounty of our government. More than eight millions of the stock of this bank are held by foreigners… is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? … Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence… would be more formidable and dangerous than a military power of the enemy.”
"You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out."
“Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
"Give me control of a nations money supply, and I care not who makes it’s laws"
The Federal Reserve is a staunch supporter of Keynesian Economics which basically believes that "debt is money". The difference between Keynesian and Austrian Economics is explained in the following video:
It is interesting to note that presidents who opposed the Federal Reserve have been assassinated. There has never been any proof that their deaths were related to their opposition, but it has given rise to many conspiracy theories .