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Letter: Audit the Fed

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

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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