QE3 is a counterfeiting operation that will raise prices and diminish your earnings.
It creates money out of thin air – a.k.a., counterfeiting.
You can defeat the FED with the Free Competition in Currency Act (HR 1098). The FED can counterfeit because it’s a monopoly. Competition would arrest their scheme and preserve your wealth.
You may borrow from or copy this letter...
What if I counterfeited millions and gave the cash to my friends?
- They would would buy extra things.
- The new “demand” for these assets, based on the fake money, would drive up prices.
- In turn, YOU would see higher prices.
- Your earnings and savings would lose their value.
- Eventually, the overvalued market would crash, causing unemployment. The financial channels will say the “bubble burst.”
As you can see, counterfeiting is not a victimless crime. So why can the Federal Reserve do it and get away with it? Their QE3 creates $40 billion month after month and hands it to “friends.”
Don't I have the right to protect myself from the Fed’s counterfeiting?
The Free Competition in Currency Act would protect me by...
- terminating the Fed’s monopoly over the money supply.
- ending the Federal State’s monopoly over the creation of currency coins.
- prohibiting taxes on precious metal coins and bullion.
Then, I could easily...
- reject payment in Federal Reserve notes.
- do business in gold, silver, or another form of money with the mutual, voluntary consent of others.
If everyone followed my example by choosing non-inflationary money, the Fed would be forced to stop inflating or go "out of business."
Why shouldn’t I be free to choose non-inflationary money today?
Allow me to keep my earnings and savings. Protect my freedom of choice. Pass HR 1098.