During its 96 years of existence, the Federal Reserve has played havoc with our economy and brought great suffering to millions through unemployment and price escalation. In addition, it has achieved what only a central bank can: a steady depreciation of our currency. Today's dollar is now worth four cents compared to the dollar entrusted to the Federal Reserve in 1913.
Ninety-six years should have been plenty of time for the Fed to come up with a plan for preventing economic crises. Since the Fed is the source of all economic downturns, it is impossible for any central banker to regulate in such a manner to prevent the problems that are predictable consequences of his own monetary mismanagement.
Ron Paul's bill to audit the Fed has been attached to another bill - a s0-called financial reform bill which will inject government intrusions into businesses - putting Ron Paul in the position of probably being unable to vote for his own bill. This was no accident as Barney Frank is providing Congressional cover for the Fed.
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