I mentioned the fake quotation phenomenon not long ago, and this is in that tradition. Some opponents of the Fed, usually those whose opposition derives more from political than economic concerns, like to cite twentieth-century U.S. presidents as alleged opponents of the Fed. The main one is Woodrow Wilson himself, who is portrayed as somehow having been tricked by the wily private bankers into establishing the Fed. So he is quoted as saying that he is a most unhappy man, for he has unwittingly ruined his country by creating the Fed. Anything to this effect from Wilson is fake. Wilson … Continue reading The Myth of the Anti-Fed U.S. President