NEW YORK ( TheGoldAndOilGuy.com) -- "We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it." (Congressman Louis T. McFadden, R-PA, in 1932.)The above quote from Rep. McFadden is a quite prescient statement as it relates to arguably the most evil enterprise in American history. The Federal Reserve, through its various monetary mechanisms, has a major impact on the value of the U.S. dollar and over time has destroyed the purchasing power of the fiat base currency used in the United States. Interestingly enough, the following quote comes directly from the Federal Reserve's website regarding one of its primary mandates: "In setting monetary policy, the Committee seeks to mitigate deviations of inflation from its longer-run goal and deviations of employment from the Committee's assessment of its maximum level." The chart below illustrates the horrific job the Federal Reserve has done of protecting the purchasing power of the U.S. dollar since its creation.