Tell us what’s going on with our money

I was disappointed last week to discover that despite his co-sponsorship of the Audit the Fed amendment, Rep. Dave Loebsack voted against its inclusion in a package of financial reforms.

The Audit the Fed amendment had 320 co-sponsors and broad bi-partisan support. The fact that Loebsack and more than 100 other co-sponsors betrayed the amendment at its decisive moment reflects the power of the Federal Reserve.

The Fed is a semi-private bank that sets interest rates by an elaborate process that ultimately amounts to printing money and thereby diluting the value of the money in our wallets, bank accounts and mattresses.

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