Audit The Federal Reserve & establish a new gold/silver standard for U.S. currency
Audit The Federal Reserve & establish a new gold/silver standard for U.S. currency
The Issue
Allow Congress complete access to transactions conducted by the Federal Reserve.
In just 10 months, the Federal Reserve has given trillions of taxpayer dollars to the banks. They refuse to tell us who they gave the money to and if we'll ever get it back. The Fed worked with the banks to inflate bubbles and co-founded the biggest crash since the Great Depression. They have been funding billion dollar CEO bonuses for the banks that sit on their boards of directors.
We need accountability in the financial dealings of the most powerful paper money producer in the USA. Please understand our rights to have coin money vs debt money. Please don't give away the homes and freedoms of our child and grandchildren by this enormous debt monstrosity. Also we need to restore the gold standard or establish a new form of gold/silver standard -- precious metals of some sort must be used to protect the value/worth of U.S. Dollars. The Fed alone by the way cannot control interest rates. If foreign creditors/lenders become concerned we can't pay them back they may demand higher interest rates on the loans they give to enable us to run our government to deal with the risk.
Interest rates have nowhere to go but up and have been at historic lows for years. If they go back to levels seen during the Savings & Loan Crisis of the 1980s interest payments on the debt may exceed everything else and there would be no money left over to pay for defense, Social Security, MediCare, MediCaid, education or any domestic spending. The Federal Reserve system was established in 1913 yet America continued to have a gold standard of some form until the Nixon Presidency when there was a talk briefly of a new gold standard -- but a gold standard that was on fake gold or not entirely linked to gold. When FDR was President thru WWII and The Great Depression the U.S. Government seized some gold and prevented sale of some gold to gold investors but the gold standard in some form or another existed until the time of the Nixon Presidency.
We need to bring the gold standard back or at least have a new gold/silver standard to have precious metals protect the value/worth of the dollar. I don't trust the Fed's say so that because the Fed says $20 Federal Reserve notes say $20 they are worth $20. If the U.S. Government continues to print more money into circulation to make it easier to pay off the National Debt and finance deficit spending (with more money in the economy) it could risk triggering inflation. The price of goods and services can go up and the value of the dollar goes down. It's not how much money you have but how much it can buy -- imagine tomorrow a $20 bill becoming worth 50 cents -- it still says $20 but that's not the point.
Stop printing more dollars to finance deficit spending and make it easier to pay off the National Debt -- this can have serious negative repercussions. Also with sky high unemployment with less consumers consuming less prices can go down and a deflationary cycle can begin that's also dangerous.
We need to avoid inflation as well as deflation. Printing more money can cause inflation if there's no sufficient precious metals to protect the value of these printed dollars. All money coined or printed must have sufficient gold/silver reserves to protect its worth. I'm not necessarily advocating for completely ending the Federal Reserve but at least allowing regular, complete audits of the Federal Reserve like once a month or every few months from now on to know what their doing and to reinstate some kind of gold standard to some extent.

The Issue
Allow Congress complete access to transactions conducted by the Federal Reserve.
In just 10 months, the Federal Reserve has given trillions of taxpayer dollars to the banks. They refuse to tell us who they gave the money to and if we'll ever get it back. The Fed worked with the banks to inflate bubbles and co-founded the biggest crash since the Great Depression. They have been funding billion dollar CEO bonuses for the banks that sit on their boards of directors.
We need accountability in the financial dealings of the most powerful paper money producer in the USA. Please understand our rights to have coin money vs debt money. Please don't give away the homes and freedoms of our child and grandchildren by this enormous debt monstrosity. Also we need to restore the gold standard or establish a new form of gold/silver standard -- precious metals of some sort must be used to protect the value/worth of U.S. Dollars. The Fed alone by the way cannot control interest rates. If foreign creditors/lenders become concerned we can't pay them back they may demand higher interest rates on the loans they give to enable us to run our government to deal with the risk.
Interest rates have nowhere to go but up and have been at historic lows for years. If they go back to levels seen during the Savings & Loan Crisis of the 1980s interest payments on the debt may exceed everything else and there would be no money left over to pay for defense, Social Security, MediCare, MediCaid, education or any domestic spending. The Federal Reserve system was established in 1913 yet America continued to have a gold standard of some form until the Nixon Presidency when there was a talk briefly of a new gold standard -- but a gold standard that was on fake gold or not entirely linked to gold. When FDR was President thru WWII and The Great Depression the U.S. Government seized some gold and prevented sale of some gold to gold investors but the gold standard in some form or another existed until the time of the Nixon Presidency.
We need to bring the gold standard back or at least have a new gold/silver standard to have precious metals protect the value/worth of the dollar. I don't trust the Fed's say so that because the Fed says $20 Federal Reserve notes say $20 they are worth $20. If the U.S. Government continues to print more money into circulation to make it easier to pay off the National Debt and finance deficit spending (with more money in the economy) it could risk triggering inflation. The price of goods and services can go up and the value of the dollar goes down. It's not how much money you have but how much it can buy -- imagine tomorrow a $20 bill becoming worth 50 cents -- it still says $20 but that's not the point.
Stop printing more dollars to finance deficit spending and make it easier to pay off the National Debt -- this can have serious negative repercussions. Also with sky high unemployment with less consumers consuming less prices can go down and a deflationary cycle can begin that's also dangerous.
We need to avoid inflation as well as deflation. Printing more money can cause inflation if there's no sufficient precious metals to protect the value of these printed dollars. All money coined or printed must have sufficient gold/silver reserves to protect its worth. I'm not necessarily advocating for completely ending the Federal Reserve but at least allowing regular, complete audits of the Federal Reserve like once a month or every few months from now on to know what their doing and to reinstate some kind of gold standard to some extent.

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Petition created on September 7, 2010