U.S. monetary policy – the determinant of interest rates, the money supply and myriad other factors – currently is shrouded in mystery by the Federal Reserve, supposedly to “protect” us from undue political pressure.  The history of the Federal Reserve shows that that institution has consistently manipulated the money supply to satisfy political demands.  It is time we recognized the inherently political nature of monetary policy and brought it into the open. A crucial first step in restoring soundness to and confidence in the system is an independent audit of the Federal Reserve Bank.

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