Thursday, November 6, 2014

How about Republicans add this to their agenda?

Now that the 2014 elections are over, our law-creators in Congress are now majority Republicans in both the House and the Senate.  How about our Republican-controlled Congress end the Federal Reserve? Congress gave it power in 1913 and can take it away by 2016. Woodrow Wilson easily made the biggest blunder of any President in the 20th century by granting the Federal Reserve power over our money. The Fed is unconstitutional and anti-American. The Constitution plainly designates the people’s elected representatives as the guardians of their money (“Congress shall have Power…To coin Money, [and] regulate the value thereof…”—Article I, Section 8). The Fed’s arbitrary powers makes a mockery of constitutional checks and balances – Congress has absolutely no oversight of the Federal Reserve. Its chairman is more powerful than our President or any of our elected officials: she controls the money supply, therefore she controls 1/2 of every transaction. Yet we the people do not elect the Federal Reserve chairman. This is nuts. In a democratic republic, should the most powerful policymaker be un-elected? On a whim, with no oversight from our Congress, she can double our money supply, making our money worth half of what it is. Also a central bank tampering with interest rates is the fundamental cause of, not the cure for, the boom and bust cycles. The Federal Reserve will continually deny that they have anything to do with the bust, however they are the cause. End of Fed, we are 101 years overdue.

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