The same people who laughed at Peter Schiff and Ron Paul’s warnings of the now ongoing economic catastrophe are concerned that the government-licensed central bank’s freedom and independence are at stake.
The Wall Street Journal this past July said, “More than 175 prominent economists warned that the politicians’ attacks on the Federal Reserve are putting ‘the independence of U.S. monetary policy…at risk’ and urged Congress to back off, lest it undermine the Fed’s ability to manage the economy and thwart inflation.”
“If the Federal Reserve is given new responsibilities,” the economists said, “every effort must be made to avoid compromising its ability to manage monetary policy as it sees fit.” These are the same people who believe that the Fed is a force for economic good and stability.
Never mind the disastrous economic consequences of the Fed’s monetary inflation on all things housing-related, the eroding of the poor and the people’s savings, the enabling of the federal government’s wars, bailouts, and handouts, the enrichment of major financial institutions and politically-connected groups at the expense of everyone else and the distortion of the pricing system crucial to the allocation of goods and resources in our economy.
No, the government’s partner in economic crime, the Federal Reserve, needs to maintain its power to “manage the economy and thwart inflation.” I’ll add that every effort must be made to counter the Fed’s influence over the economy. Don’t let the establishment hacks and their Citi-sponsored graphs tell you the government’s counterfeiting machine needs more power and less oversight while further ruining the economy.
Here’s the Campaign For Liberty’s Audit the Fed action page and Audit the Fed site. Give them hell! http://www.campaignforliberty.com/campaigns/AuditTheFed-home.php & http://www.auditthefed.com/