In 1913 when the Fed was "invented" the ordinary folks in the street were not as well educated or informed as they are today. One cannot take finance out of context without looking at sociology.
The guy in the street in America did not have a clue about covered up trains whizzing round the country and people ending up in a hotel, having a good dinner and attempting to rite the wrongs for a better future over a few drinks and a cigar or two.
I would guess that even within that small group there were ones who believed they were doing good and of course, as is human nature, there were ones in it for their own gain. The big question is why has it taken so long to find out that it was all just a load of s**t
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