Posted 1:50 am Friday, June 29, 2012
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Fed Continues Actions To Devalue The Dollar, June 29
The Federal Reserve is at it again. They claim to be trying to bring the American economy into recovery, and they are extending a program called “Operation Twist” which aims to encourage more borrowing and spending by reducing long-term interest rates. However, since this is what they have been doing and it apparently has not worked, why keep doing it? Insanity is continuing to do the same thing and expecting different results. This is insanity.
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.
Judd Quarles
Tyler
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.
Judd Quarles
Tyler
