For an extreme example of what happens when the power of a central bank goes unchecked: Zimbabwe bank to issue $10m bill. Every time the "fed" lowers interest rates, we are increasing inflation and devaluing the dollar. Our Constitution explicity denies the right of our government to hand off control of our money supply to private interests because they knew this would happen, yet due to the efforts of J.P. Morgan, Nelson Aldrich, Woodrow Wilson and other friends and relatives both in the banking industry and in congress that is exactly what we have done with the 1913 Federal Reserve Act (aka Give Away The People's Gold Reserve to the Bankers Act). There are lots of conspiracy theories that go extensively into what happened to lead to this ... I haven't seen evidence on either side of the arguement to be conclusive of anything, so for me many of these theories are meaningless but even ignoring them all it leaves huge questions for the intent of this legislation. (The highly unusual election process in 1912 to prevent William Taft from winning did secure the passing of the bill, as Taft was opposed to this legislation and said he would never sign it but Wilson was in favor. J.P. Morgan helped divide the Republican party leading to Wilson's win with only 42% of the popular vote.)

The significant consequence is that less than 20 years after unconstitutionally passing the control of the money supply away from the government and into the hands of a few wealthy bankers we ended up with the greatest economic downturn in the history of the country, although despite the many stock traders that lost money in the stock crashes, the people calling the shots didn't suffer like the poor and middle class during the Great Depression. But the Federal Reserve was supposedly created to *prevent* this exact thing! Since the time our nation recovered, greatly due to wartime spending, we have continued this up and down cycle at the whim of private bankers.

Now we want to borrow more money from overseas to try to stimulate the economy by giving welfare handouts to most taxpayers making under 75,000/year. While I know many people could use that money, how much is going to be used to purchase imported goods (such as 75% of Walmart purchases and imported consumer electronics) or pay down existing debts? Both of those actions won't stimulate the U.S. economy. I think it is safe to say that most of the money spend for the "stimulus" package will give us another record breaking deficit year while supporting the economies of other nations moreso than our own.

In the past I never really paid much attention to this, but I knew I had to start joining others in speaking out after realizing that money in Aeris' college fund that is currently earning 5.10% interest in a CD is still worth less 1 year later than when it was opened! Sure, the dollar amount went up by the 5.10%, but the purchasing power of the resulting amount is far less! How can we possibly put our trust in a system that allows people that save money using safe fixed rates of over 5%, giving the illusion of progress, when the truth is the real world result is a net loss in value? The "Inflation Tax" as Dr. Paul refers to it as.

Just something to keep in mind when the government offers to give you "free" money. No matter how it is spent, it is not going to help in the long run. I encourage everyone to use it to pay down debt. Credit Card debt, car payments ... if you have neither of those, pay it towards principle on your mortgages. This goes against what the "fed" would like us to do with it, but part of changing the system is not succumbing to the desire to use this extra cash to buy something you don't really need. That is only a short term boost that just prolongs the bigger problem, as the rich get richer, and the rest of us suffer.