Letter: Audit the Fed

Published: Monday, Sept. 17 2012 12:00 a.m. MDT

Summary

I'm no economist, but there's one thing that I do know: You can't create something out of nothing, and that's exactly what the Federal Reserve is trying to do with its latest ploy called QE3.

Where does the $40 billion per month come from that they're going to inject into the economy by purchasing mortgage-backed securities? Oh, that's right, this is the Fed we're talking about — that group of bankers who simply print any amount of money that they want — and its banking partner, the U.S. government, allows it to do so at the expense of we the people.

If you don't know why prices are rising, just look at all the fiat money that the Fed is printing. An overabundance of fiat money drives up the price of goods and services and is as basic to understanding the whys and wherefores as you can get when studying this issue.

The Fed should be audited and then exposed for what it is.

Richard Nielsen

South Jordan

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Roland Kayser

Cottonwood Heights, UT

You are correct Richard, you're no economist.

12:51 a.m. Sept. 17, 2012
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The Real Maverick

Orem, UT

So what is the Fed? Expose it? Ummm ok.

I find it hilarious that the GOP is blasting Obama for "not doing enough" to help the economy... And then they get upset when steps are taken by the Fed/Gov/Obama to aid the economy. So More..

7:52 a.m. Sept. 17, 2012
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Henderson

Orem, UT

So when will rich people start hiring normal Americans?

I keep hearing about record profits for Wall Street and big banks. They seem to be doing just fine. I mean, heck, Romney made 20+ million without even working!

So when More..

9:15 a.m. Sept. 17, 2012
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