Did you ever read Creature frfom Jekyll Island?
A while ago. I must re-read it. The author G Edward Griffin has youtube videos explaining how the Fed works. So if any of your friends want a crash course ....there it is
BTW the real down and dirty Fed is the NY branch of the Federal Reserve. The HQ is DC is there to do research, to smooth things over with Congress and the President and to hold lots of meetings on "policy". DC is the PR machine. The actions that affect our economy are carried out in NY. So who are the member banks who own the NY branch of the Federal Reserve? Try and find that one out. It is kept secret and why?
http://www.youtube.com/watch?v=_WrMWK-FJzU
http://www.youtube.com/watch?v=-X5ISQJEpV0&feature=relmfu