On the same day as the much-touted midterm election, the Fed is considering "additional securities purchases" and pumping more printed money into the economy, thus setting the stage for additional inflation.
The Fed exercises tremendous power over the lives, liberties, and economic well-being of every American. And yet, it is an entity and law unto itself, uncontrolled by representative government, the rule of law, and the Constitution. It exists as a mysterious hybrid of government and private entities. It has the power to print money out of thin air, "monetize the debt," inflate the money supply, and reduce the buying power of your savings. It is not "federal" and it has no "reserves." Its books are off the record and closed to public review, exempt from the Freedom of Information Act.
