Phase Out the Fed With Sound Money Laws

By Gonzalo Schwarz
Although it is very encouraging that the House voted 327 to 98 to audit the Fed last month, it is virtually certain that the Senate will not concur this year. Moreover, it is virtually certain that Congress will not act to end or phase out the Fed any time soon. So, what’s to be done about the impending destruction of our currency by the Federal Reserve’s ongoing expansion of the money supply? See the graphic at left showing the huge increase in the money supply under the Federal Reserve vs. the dramatic decline in buying power of the dollar from 1959 to 2010 (Graphic by Michael Hodges, Grandfather Economic Reports). Since 2010 there has been a continuation of this rapid expansion of the money supply. The preeminent expert on Constitutional money, Edwin Vieira, has a strategy for phasing out the use of Federal Reserve Notes through new state laws providing alternative currencies, which he has been promoting via interviews (and here -ed.) and videos for the past several years...Continue reading at 

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