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This quiz consists of 5 multiple choice and 5 short answer questions through Section VI. Time Travel into the Future, Chapters 24-26 Doomsday Mechanisms; A Pessimistic Scenario; A Realistic Scenario.

Multiple Choice Questions

1. What do some feel was the reason for establishing the Federal Reserve?
(a) The Federal Reserve System was concocted not to stabilize the economy and create an economy that was distributed equally among the population.
(b) The Federal Reserve System was concocted not to stabilize the economy but to put economic control into the hands of a few people who agreed not to compete with one another.
(c) The Federal Reserve System was concocted to stabilize the economy.
(d) The Federal Reserve System was concocted to put economic control into the hands of the people.

2. What document did the author provide to support the idea of a conspiracy to destroy the U.S. economy?
(a) The author used the minutes of secret Jekyll Island meeting to support the idea of conspiracy to destroy the US economy.
(b) The author used a document named the Report from Iron Mountain to support the idea of conspiracy to destroy the US economy.
(c) The author used a confidential report found in Congressional archives to support the idea of conspiracy to destroy the US economy.
(d) The author used a document obtained by the CIA to support the idea of conspiracy to destroy the US economy.

3. What occurred when coinage was weakened through lower percentages of precious metal or completing stripped of such backing?
(a) Deflation resulted when the coinage was debased through lower percentages of precious metal or none at all.
(b) Paper money was seen to be the superior monetary system when the coinage was debased through lower percentages of precious metal or none at all.
(c) Stock market instability occurred when the coinage was debased through lower percentages of precious metal or none at all.
(d) Inflation and political turmoil occurred when the coinage was debased through lower percentages of precious metal or none at all.

4. How was the nationalization of banks justified?
(a) Nationalization was necessary for the nation's standing in the world.
(b) Nationalization was necessary for the public good.
(c) Nationalization was necessary for the banking industry.
(d) Nationalization was necessary for the IMF.

5. Why was the "Federal Reserve System," so named?
(a) The "Federal Reserve System" was so named because its offices were not state run.
(b) The "Federal Reserve System" was so named so that people would know that it was part of the Federal government.
(c) The "Federal Reserve System" was so named so that people would think it was part of the Federal government.
(d) The "Federal Reserve System" was so named so that people would have respect for it.

Short Answer Questions

1. What system was in control of the economy before the Federal Reserve System was established?

2. This conspiracy theory about the Federal Reserve pointed the finger at the meeting on Jekyll Island that occurred in 1910.

3. Conspiracy theorists connected the potential of world socialism to what organization?

4. What new way of home ownership emerged in the 1980s?

5. What U.S. president removed the gold standard from the US dollar?

(see the answer key)

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