I agree Jack, they are called our representatives for a reason. They are a direct extension of the people and should be subject to any and all laws they enact.

"Anyone involved in the creation of an airport security system that requires pilots to be checked for weapons has got to be removed from any government job and promptly institutionalized, as he is a danger to himself and others. Is there anyone in the government who can tell us why the pilot doesn't need a box-cutter to seize control of the airplane and kill everyone on it? You there, in the back -- the skinny guy with the big ears behind the teleprompter: Wanna take a guess? Bueller? Anyone? Bueller? " ROFLOL

Your statements are incorrect. The Fed was limited in the amount of money it could print by a requirement to have 40% of what it printed backed by gold reserves on hand. The gold standard limited the amount of money that could be printed. Without a gold standard the Fed can print any amount of money it wishes. Paper money that was backed by gold or silver in the past said "payable to bearer on demand". Look at any FRN in your wallet. Where does it say on any Federal Reserve Note that silver or gold is payable to the bearer on demand? 1968 was the last year that SILVER CERTIFICATES were redeemable for silver. They were last printed in 1957. Federal reserve notes are not backed by gold or silver. All paper money in circulation is...

Gold is the historic hedge against inflation, and to a lesser extent silver. All you need to do is look at the values of these 2 commodities to see what is happening with inflation. They are both on the rise.

Thank you Osher, Fed policy goes against natural law, and is a small group of flawed humans trying to "fix" natural law to make it do what they wish it to.

In 2008 a housing bust began, of course housing prices are down. Foreclosures continue and it will be a long time before the housing market recovers. It is a great time to buy a house, if you have the money or credit to do so. Aside from housing, prices are rising across the board.

I agree DG that people need to learn about economics, but that it never going to happen under a government run school system. If a majority of people understood economics politicians jobs would be in extreme jeopardy. If fiat money is not worthless, where does its value come from? Does it come as any shock that the beginnings of "getting off the gold standard" came during FDR's terms as president? Getting off the gold standard is entirely necessary to run any type of welfare state. It was also a pet idea of John Maynard Keynes, a Fabian socialist whose ideas run counter to everything the US Constitution stands for. In getting off the gold standard, FDR forced US Citizens to give up their holdings in gold, an utter desecration of the...

If the Fed's goal is to keep an even economic keel in stormy economic seas, it has failed utterly. There has been a recession or depression every 3 to 5 years since it came into being in 1913. Recessions are caused by poor banking policy. An entire economy cannot go bad at once in a free market economy on a gold standard. Parts of it can go bad, but not the whole thing. It also interferes because our economic system is a profit and loss system. The losses are more important than the profits, because it allows poorly invested capital to be invested into better ventures as poorly run or reckless businesses go into bankruptcy. The Fed allows these businesses to continue on with their reckless behavior, at the expense of the taxpayers....

Paper money comes in 2 types, receipt money that is 100% backed by gold or silver, and fiat and fractional money which is not. Fiat money like the Continental Dollar was used prior to the Constitutional Convention, as stated in my post. The Federal Reserve notes we use now are fiat 100% through and through. The Bank Of The United States was a Central Bank just like the Federal Reserve, and there was a great degree of disagreement among them regarding it. Alexander Hamilton proposed it and Washington and Jefferson were strongly against it. Both of its charters expired without renewal, and Andrew Jackson railed against the Second Bank Of The United States. The Federal Reserve is our third central bank and the result of central banking...

The Constitution permits Congress to COIN money, not to print it. That distinction was put there because of the Founders distrust and fear of fiat currency.