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Fed Up

"While some in America have begun to challenge the wisdom of (Federal
Reserve chairman) Alan Greenspan, few seem to question the concept of the
Fed bank itself. . Remember, every time the Fed cuts interests rates, it expands the amount of money in the economy.  Economists have a simple word for this increase in the money supply: inflation.  Inflation means your money has less buying power and your retirement savings are worth less.  Yet we never hear the Fed criticized for its inflationary measures. . The key to lasting prosperity is a return to true private banking, where interest rates are set by the free market and dollars are backed by gold."

- Rep. Ron Paul (R-Texas), "Texas Straight Talk," 9/3/01