Dow Theory Letter regarding the Fed
Feb 29, 2008
Richard Russell asks the question: What do we do about the Fed showering the US with an ocean of currency?
What is probably most surprising is that he admits that he personally objects to the existence of the Fed itself! He then gives a brief statement about how the Fed was created in the first place by fraudulent means and says that the Treasury Department ought to be re-empowered with the right to create money. Certainly, the Fed has proven itself unworthy of such power--to say nothing of the constitutionality question.