Why The Federal Reserve Should Be An Election Issue

It has now been a couple of weeks since the first debate. For Romney fans celebration time is over. It’s time to get back to being a concerned citizen. It’s time to put emotions aside and start using the gray matter again.

And when you do, you may suddenly realize something odd happened during the first debate as well as the recent VP debate. The Federal Reserve wasn’t discussed. Did you notice that? To date all four candidates have taken the stage and never mentioned the Federal Reserve.

Many people think the Federal Reserve is a major contributor to systemic problems with America. Ron Paul submitted a bill back in 2009, calling for an audit. That bill died. Undeterred, Paul introduced H.R. 459 in January 2011. During the Republican primaries earlier this year, he regularly brought up the Federal Reserve and its related issues.

Other people are proponents of the Fed and believe it serves a critical role.

So there are two vastly different outlooks yet the Fed hasn’t come up once during the debates.

Considering H.R. 459: Federal Reserve Transparency Act, passed the House in July (the Senate has yet to take action on it)  wouldn’t you expect it to be a “hot” topic?

The Federal Reserve sets national monetary policy. It can raise or lower interest rates as it sees fit. It can increase or decrease the amount of currency in circulation. It does not answer to the President of the United States, Congress or the American people. And no one thinks this should be discussed in depth during an economic debate?

America is on the edge, crusaders, and it is teetering badly. Can it go over? You bet it can. In fact, the only reason it hasn’t toppled already is because the dollar (really the Federal Reserve note) is the reserve currency of the world. This gives America a financial advantage that the rest of the world does not enjoy. Take that unique advantage away and we grind to a halt.

But many people will counter that replacing the dollar as the reserve currency will never happen. America has been roughed up, the silly argument goes, but compared to the rest of the world, we’re still a great investment.

Really?

Why then, just a few months back did Former Treasury official Lawrence Goodman inform the New York Post that investors are shying away from US bonds? The lack of buyers has forced the Federal Reserve to buy “a stunning . . . 61 percent of the total net issuance of US government debt” last year.

And if the dollar will never be replaced as the world reserve, why did China and Germany just announce they’ll be cutting deals with each other using euros and yuan rather than dollars? Kind of sounds like they don’t like the future prospects of America’s finances, doesn’t it? Indeed, China holds little love for the American way of life and has been calling for a change for several years. This scary development was officially announced in late August, yet our political process is so hollow and phony it isn’t discussed within an “economic” presidential debate.

Look, you can be a Right-leaning partisan and blame Woodrow Wilson and progressives for all this. You can be a Left-leaning partisan and blame Republicans and their fascist agenda. You can be a conspiracy fan and blame the Illuminati and international bankster cartels. You can blame the government or cowardly politicians or soulless corporations, too. But, ultimately, the buck stops with us.

It is our country. An alert and motivated citizenry is the best — and only — defense against corrupt politicians, unresponsive government and greedy corporations. If we demand, with authority given to us by the Constitution, that all this to stop, it will stop.

But now we are losing a unique advantage we possess as investors from around the world slowly move away from the dollar. Can you blame them? Consider that our credit rating has been down-graded, our economy is at a stand-still and we spend obscene amounts of money — borrowing almost half. This is not lost on citizens of the world. Additionally, like us, they know this is arguably the most pivotal election in the history of America. And they watch, probably horrified, as our national political discussions include not the Federal Reserve — but Big Bird.

Saving this country will take much more than just electing Mitt Romney. It will take the will of the people exerted with meaning and serious intent. Celebration time has passed. It is time to get back to work. It is time to demand from our leaders serious discussion about serious issues.

Follow I.M. Citizen on Facebook or visit at IMCitizen.net