Manipulation of the money supply is one of the many reasons for our financial problems of the past few years, and while artificially low interest rates might help borrowers and buyers, they also hurt many over such a lengthy period of time. Retirees, those on fixed incomes, and others who depend on interest income from savings suffer the most. As federal policy continuously increases the money supply, the destruction of the value of our currency continues. More borrowing and spending, which is what the Fed is hoping for, is not what we need because our country is consumed with debt, and much of the debt has been in default over the last few years.
Thankfully, Congressman Ron Paul’s bill to audit the Federal Reserve, HR 459, will come to a vote in the U.S. House of Representatives in July. The American people deserve to know what is really going on with the Federal Reserve and where the money is going. Any representative who would not at least agree to an audit of the Federal Reserve needs to be voted out of office.