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Cedar Rapids, Iowa 52401
What a politician says in not as important as what they do. Presidential candidate Ron Paul has talked about auditing the Federal Reserve for years. More important is what Paul has done.
It has been illegal to audit the Federal Reserve since 1954. But, during the last congressional session, Paul managed to get an amendment added to a bill to take a small look at the Federal Reserve's finances. The results are revealing.
The total U.S. debt is around $14.3 trillion. Thanks to Paul's efforts, we have learned that between December 2007 and June 2010, the Federal Reserve gave interest-free (or nearly so) loans to favored companies and foreign banks totaling
In less than three years, the Federal Reserve gave away more money than our nation's entire debt load. As a result of Paul's persistence, we learned that the Federal Reserve, has more financial power than the entire United States.
I like what Paul has to say and has done. I would like to see him do more as president.
Roger A. Kistler