"Not only is the Fed insulated from accountability to the voters, that very unaccountability may be unconstitutional. The Constitution 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.) Indeed, Thomas Jefferson noted in 1791 that Congress has no authority to create a bank and give it a monopoly over our money, because such actions "are not among the powers specially enumerated" in the Constitution.
"Almost 30 years ago, I spoke with a young congressman (later the governor of his state) after he had given a talk in which he asserted that Congress' hands were tied, in terms of economic policy, by the Fed. I responded that, at least in my universe, the creator controls the creation, and that since the Fed was created by an act of Congress, it could be reformed or abolished by an act of Congress. This made the congressman visibly uncomfortable and he fell silent. Clearly, he had no stomach for challenging the Fed.I recommend you read the whole article.
Inflation is coming because of the Fed. It is time to put a stop to the destructive manipulation of our currency.
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