No it's not a government entity, you're wrong. It is considered "independent within the government". It doesn't answer to anybody, it creates its own policy. The Constitution gives the Treasury the power to coin money and create monetary policy, and Alexander Hamilton went to great lengths to explain how we should back our currency with silver, another precious metal with intrinsic value. The Fed's website explains this, although I disagree greatly with their other explanations of what they do. FRB: FAQs: Federal Reserve System
Here is a detailed history of the Fed dating back from 1992 by a highly regarded certified public accountant, Thomas D. Schauf. The Federal Reserve Is A privately Owned Corporation
And here is a direct quote from President Woodrow Wilson, showing remorse after creating the Fed. http://quotes.liberty-tree.ca/quote_...son.Quote.51CE
And here is a speech given by Rep. Kucinich on the House floor. YouTube - Kucinich: Federal Reserve No More "Federal" Than Federal Express!
And here is a clip of Rep. Ron Paul talking about the illegality and unconstitutioanlity of the Fed. YouTube - Ron Paul "The Federal Reserve Is the Source of Our Problems!!
And for the record, I never said we should be trading with gold. A paper currency is perfectly acceptable, but it needs to backed with something of intrinsic value. A fiat currency does not work. In fact, our dollar is going down in flames and the rest of the world is trying to find another currency to make as their reserve currency. U.N. panel says world should ditch dollar | U.S. | Reuters
Russian prime minister Vladimir Putin calls for end of dollar … - Telegraph.co.uk | Karl Foreman
The only way out of this depression is to lower taxes, abolish the income tax, dramatically cut spending, shrink the size of government, stop with the bailouts, and put us back on the gold standard. Hopefully the 30,000 links I provided you are enough.