Gold and silver prices signal inflation. If the Fed can silence this signal then it can make its own product, Federal Reserve Notes, look more valuable than they really are.
If you and I tried to manipulate the market in this way we would go to jail. So why should such behavior be okay for an institution that’s supposed to serve the public interest? If this price manipulation is occurring, then . . .
* It defrauds investors
* It tricks innocent Americans into keeping their savings in depreciating dollars, when they might be better off shifting to more stable assets
Even worse, these false market signals will create more malinvestments, bubbles, bursts, and recessions.
And when that happens you can bet that both the politicians and the Fed will add insult to injury by blaming it all on the free market, when it will really have been the fault of the UN-free market that they created.
Is this what you want?
Should the Fed be able to protect itself at your expense?
Don’t you think you could better plan for your future if you had reliable knowledge about everything the Fed is doing?
That’s why we need to Audit the Fed! To protect you!
Please tell Congress to Audit the Fed now!
You may borrow from or copy this letter . . .
I’m increasingly frustrated that Congress hasn’t passed this bill. It has 320 House and 33 Senate sponsors, and should have passed last year. This really make me wonder who Congress really represents — taxpaying constituents, or the House and Senate leadership?
Is it any wonder that Congress is held in such low repute, or that so many Americans are in a rebellious mood?
Why haven’t the 320 House co-sponsors forced a vote?
The Audit the Fed bill should have passed last year. And if it had, perhaps the audit would have been completed by now. We’d know the truth regarding rumors surrounding the Fed.
For instance, you may have heard charges that the Fed is manipulating the precious metals markets, including the following specific allegations . . . http://www.nypost.com/p/news/business/metal_are_in_the_pits_2arTlGNbMK7mb1uJeVHb0O
* the Fed backs JPMorgan Chase’s “short selling” of gold and silver
* Morgan keeps the profits while the Fed and taxpayers like me absorb the losses
* there’s only one ounce of actual gold for every 100 ounces being soldIf these allegations of fraud are true, then the Fed is once again destroying my longterm finances by . . .
* suppressing gold and silver prices to make the dollar look artificially strong and stable
* when, in fact, the Fed has more than doubled the money supply in the past 18 months
* which will lead to more malinvestments and recessionsEven if the allegations are not true, don’t we have the right to know? The news of the charges led to a price spike in gold and silver, and if the allegations are false then these rumor-fueled fluctuations are unfair to honest investors.
Either way, an Audit of the Fed will reveal if, when, and how the Fed manipulates markets. Transparency from the Fed will mean more people will make better decisions with their money. This will be good for you, for me, and for the entire economy.
Don’t wait any longer. Pass the Audit the FED bill NOW!
END LETTER
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James Wilson
Assistant Communications Director
DownsizeDC.org