Is It Wrong to Want to Audit the Fed?

Audit the Fed because it is the least we should do. It would be better to annihilate it. Personally, I strongly believe the Federal Reserve should be shut down. Period. But if we’re going to have it, a little oversight is way beyond warranted. As Norbert Michel writes, “Federal Reserve Reforms Should Not Be a Partisan Issue.” “…the burden of proof should be on ‘Audit the Fed’ opponents. They should have to explain, for example, exactly what should exempt the Fed from the same sort Read more […]

Is Hyperinflation About to Devastate the Value of the Dollar?

The Huffington Post carried an article that listed “11 Lies About the Federal Reserve.” Naturally, the list is a mixture of straw men or otherwise untruths in themselves. One of the “lies” listed is that we “Fed-haters” believe that “the Fed is causing hyperinflation.” I honestly don’t know of anyone who would say that the Fed is causing hyperinflation. Granted, hyperinflation is something that we all talk about as a logical consequence to unbridled fractional reserve banking. Read more […]

Printing Money to Get Obama Re-Elected

FED Chairman Ben Bernanke, realizing that the country is getting fed up with the Fed, has begun speaking out on his own behalf. He might be better off if he remained quiet. His denials sound like the protestations of a guilty man. At a meeting in Indianapolis, Bernanke declared several thing including a claim that he did not expect the country to go into economic recession and that he was not using “QE3” to influence political debate or the outcome of the election. How believable is Bernanke? According Read more […]

What Is Quantitative Easing?

Federal Reserve Chairman Ben Bernanke announced Thursday that the Fed will be rolling out QE3; that is, a third round of quantitative easing. Quantitative easing is another way of saying that the Fed will create money from nothing, inject it somewhere in the economy and hope that it gets the economy moving. He’s promising to keep interest rates low until 2015 and to pump an additional $40 billion per month (for a total of $85 billion per month) into mortgage-backed securities at least until the Read more […]

Why Governments Hate Gold

Competing currencies was the subject of a meeting of the House Domestic Subcommittee on Monetary Policy. The meeting was entitled, “Sound Money: Parallel Currencies and the Roadmap to Monetary Freedom.” During the chairman’s opening statement, he said, “The American people have suffered for decades from the declining purchasing power of the dollar. The Federal Reserve has abused its position as the monopolist issuer of currency to enrich Wall Street and impoverish Main Street. …The Fed can Read more […]