My email today to the federal reserve - post yours too

[Stealth4]

I've asked before about the Board's committment to fighting inflation, and I recieved a respectful response which I appreciated, but given the comments by the board today I need to ask a stronger question.

1) Is the Board purposefully devaluing the US dollar?

Inflation is high, but it is not reported as such by your current methods (Euro Pacific Capital has a great white paper out on how the Federal reserve has manipulated its equation for calculating inflation, and how if you used today, the methods you did at the time inflation was above 10%, we'd be at or near that point now).

The statements today are just that, talk, but if the Board follows through with further rate cuts I will be convinced that the Board does not take its mandate of controlling inflation at 0-2% seriously. The board will be hurting many people in this country if the rates are further reduced - hurting the value of the US dollar.

Please do not lower the Federal funds rate. Please do fight inflation and raise the rate.

Euro-Pac Paper - http://www.europac.net/whitepapers.asp

Today's comments by Fed - http://money.cnn.com/2008/01/02/news/economy/fed_minutes_analysis/index.htm?postversion=2008010215

Fed Serve comment page - http://www.federalreserve.gov/feedback.cfm
(type it in word, save then paste, sometimes the form is finicky and you need to redo it)

[fsk]

Why are you wasting time writing to the Federal Reserve? It's not like they're accountable to voters, Congress, or the President.

Why should the Federal Reserve care what you think?

[davver]

Agree, you could be buying gold and working on your move out of the states

[dvictr]

the real problem is the federal deficit and the national debt... raising the rate is worst then lowering the rate at this point...

[Hardrock]

the real problem is the federal deficit and the national debt... raising the rate is worst then lowering the rate at this point...


CHECKMATE! Advantage-Federal Reserve...............

It's a "catch 22" for us, but the International Banks (through the FED) have skinned the US alive!:eek::mad:

Guess who is going to be held responsible for their "laundry bill?"
Who "owns" that laundry bill? (holds alot of the US debt)
Can you say.....CHI---NA?
The IB's aren't done yet, we still need to have them float the US more "fiat" illusion to invade some more countries for them.......Clean up their front yard, so to speak.....get those pesky muslims of their lawn.;)

[Tom228]

Why are you wasting time writing to the Federal Reserve? It's not like they're accountable to voters, Congress, or the President.

That's half true and half false. Well 1/3 true 2/3 false.

It's true that the citizens don't have major elections for Board of Governors and the Chairman of the Federal Reserve.


How are the Chairman and members of the Federal Reserve Board of Governors selected, and what is the term of office?

The seven members of the Board of Governors are nominated by the President of the United States and confirmed by the U.S. Senate. By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country," and no two Governors may come from the same Federal Reserve District.

The full term of a Governor is fourteen years; appointments are staggered so that one term expires on January 31 of each even-numbered year. A Governor who has served a full term may not be reappointed, but a Governor who was appointed to complete an unexpired term may be reappointed to a full fourteen-year term.

Once appointed, Governors may not be removed from office for their policy views. The lengthy terms and staggered appointments are intended to contribute to the insulation of the Board--and the Federal Reserve System as a whole--from day-to-day political pressures to which it might otherwise be subject. If all Governors serve full terms, a President would be able to appoint only two Governors during a four-year presidential term. Moreover, even a President reelected for a second term would not have appointed a majority of the Governors until late in the second term. In reality, many Governors do not complete their fourteen-year terms, and recent Presidents have averaged more than one appointment to the Board every two years.

As stipulated in the Banking Act of 1935, the Chairman and Vice Chairman of the Board are chosen by the President from among the sitting Governors and must be confirmed by the Senate. They serve terms of four years and may be reappointed as Chairman or Vice Chairman until their terms as Governors expire. The Chairman serves as public spokesperson and representative of the Board and manager of the Board's staff and presides at Board meetings. Affirming the apolitical nature of the Board, recent Presidents representing both major political parties have selected the same person as Board Chairman.

Source: http://www.federalreserve.gov/generalinfo/faq/faqbog.htm