Letter to the Editor:
The first page of Monday’s paper had an article entitled: “Fed will backstop mortgage giants”. The sub-title of the article was “Reserve Bank could lend help to Fannie Mae, Freddie Mac”. I am tired of the Federal Reserve being let totally off the hook for all they have caused to go wrong throughout our economy. The Federal Reserve sounds governmental because it has the word Federal in it. It actually is a group of private bankers. Our constitution long ago mandated that our country would be run by on a sound money basis with real sound currency–backed by gold and silver as it used to be.
The amount of real money the nation had would rule–not private bankers ruling instead by secret, back door decisions. We don’t have real sound money. Instead we have private bankers through the Federal Reserve who are printing out “monopoly” money and printing out more “monopoly” money without basis and without limit. They do this in a quest to solve their own problems. The Federal Reserve wants to transfer debts that bankers currently have and throw those debts onto innocent, taxypaying Americans. Debts we taxpayers then will have to pay. They are villains, not heroes. The article made it sound terrific. I call it socialism and robbery.
The overly active creation of ever more phony American “money is causing the price of petroleum to go up. They are forcing the value of the dollar down. I am therefore also real tired of getting ads from Democratic and Republican candidates for office who send me ads which villify the high price of petroleum itself as if the price of petroleum is a cause of evil. The price of petroleum is high but it is reaction, not cause. The printing presses of an only partially constitutional Federal Reserve system cause all these high energy prices.