Letter: Who controls our money, he questions
TO THE EDITOR:
As anyone should know, the Federal Reserve System is not a government agency. It is a private company.
This private company prints our money and lends money to our government. Because it can create money out of thin air, it has been able keep our government afloat, no matter how liberal Uncle Sam is with spending.
We don't need taxes. All we have to do is borrow more from the Fed and go in debt some more.
Congress and the President are constantly telling us they will not raise our taxes. They tax us in a much more cruel fashion. It is inflation. The cause of inflation is the increase of our money supply and is brought about by the government borrowing from the Fed.
Every time the money supply is increased without the amount of goods and services being increased, it will take more money to buy goods than it previously did -- it will take a bigger chunk of our wages to buy the necessities of life. This borrowing thus takes part of our income and, thus, is a tax, and no new tax laws were passed.
Without being able to borrow from the Fed, Congress would have to raise taxes in order to get us to fight wars or get involved in many of the high-cost foreign affairs we now drag ourselves into. Do you really think we would be in Iraq or Afghanistan right now if we had to fund these wars with direct taxes? Of course, we are paying now for them, but the tax is a hidden one--inflation.
What about the government "bail outs" and the make-work proposals? Will they raise our taxes?
Let's tell Congress they have to be truthful with us or get rid of the bums.
Gerald "Tom" Schramski