World War 2 was financed by the Federal Reserve Bank. The Great Depression came to an end through a dreadful war that was likely brought on by the central bankers’ failure to finance economies in the Great Depression and prior to it:

 When the United States entered the war, the Board of Governors issued a statement indicating that the Federal Reserve System was “. . . prepared to use its powers to assure at all times an ample supply of funds for financing the war effort” (Board of Governors 1943, 2). Financing the war was the focus of the Federal Reserve’s wartime mission. This mission differed from the mission of the System before and after the war…

…Plans for financing the war were devised by the Treasury and the Federal Reserve. These organizations met frequently to determine how to finance the war and organize machinery for marketing United States government securities.

 The plan called for financing the war to the greatest extent possible through taxation and domestic borrowing.² Paying for the war through levies on current incomes would minimize inflationary pressures, promote economic expansion during the war, and promote economic stability when peace returned.

 To direct the savings of American citizens into the war effort, the Treasury and Federal Reserve marketed a range of securities that would fit the needs of all classes of investors, from small savers who wished to invest for the duration of the war to large corporations with temporarily idle funds. To distribute these securities, the twelve Federal Reserve Banks organized Victory Fund committees and established plans to market war bonds in cooperation with commercial banks, businesses, and volunteers.

This article proves that the Federal Reserve played a heroic part in the war effort with the efforts it made to market the war bonds. The quote above comes from it. Unfortunately, that heroic aspect of the Fed has disappeared entirely. It is now looked upon as a failed institution that helped some with the establishment of QE, but ravaged the middle class in favor of the richest by doing so. Asset increases, much of which was based upon mispriced risk, made money for American business but also hurt the middle class. Mispriced risk for assets caused booms and busts as the Bank of America stated.