Money is the lifeblood of any economy, and control over a nation's currency means control over its economic well being
Congress, although not by law, essentially has given up all its oversight
responsibility over the Federal Reserve. There
are no true audits, and Congress knows nothing of the conversations, plans, and
actions taken in concert with other central banks.
All paper currencies are vulnerable to collapse, and history is replete
with examples of great suffering caused by such collapses, especially to a
nation's poor and middle class.
Before the breakdown
of the Bretton Woods system, CEO income was about 30 times the average worker's
pay. Today, it's closer to 500
times. It's hard to explain this
simply by market forces and increases in productivity.
One Wall Street firm last year gave out bonuses totaling $16.5
billion. There's little evidence
that this represents free market capitalism.
How can a policy of steadily debasing our currency be defended morally