Dear Congressman….

Dear Congressman Adler,

I want to Thank You sir for co-sponsoring Congressman Paul’s bill, HR 1207, and my hope is that you and the other members of Congress, including our Senators, do not back down on this issue or change the wording so that the intent is watered down as to be ineffectual. In my opinion, which many share, the Federal Reserve has been acting irresponsibly in matters relating to all aspects of our economy. My belief is that if any bank were to be “Nationalized” that the Federal Reserve system banks should have been the first, their assets seized and returned to the Treasury, and that the creation of money should be returned to Congress, as stated in Article I, Section 8 of the Constitution of The United States.

Additionally, knowing that Congress will not move to eliminate the Central Bank, I hope that you and the other members of Congress resist President Obama‘s suggestion that we place the Federal Reserve in the position of being regulator to the banking and security industry. This would be no better than the old adage of putting the fox in charge of the hen house. We might be better served by allowing the FDIC greater oversight in banking operations as ultimately they make the decisions regarding bank solvency and compliance now.

The false intimation given that the laws that were put in place during the last depression are no longer working is an obfuscation designed to hide the fact that the most important of those laws, the Glass-Steagall Act which was intended to prevent exactly what happened, was repealed in 1999. Restoring this law and enforcing the other laws already in place would have helped to minimize, but not eliminate, the scandalous actions of the “Too Big To Fail” banksters (which quite frankly, in my opinion, are also “Too Big To Exist”). I say not eliminate because this current economic down turn is part of a larger economic cycle that culminates in serious recessions and depressions about every 60 to 70 years. You should note that all of these serious down turns were preceded by similar causes; the encouragement of the Central Banks and other lending institutions to freely issue credit beyond the ability of the debtor to repay, and was used to finance speculative “bubble economies” that ultimately ended very badly. In the absence of Central Banks, (which our nation did not always have) these economic downturns still happened, but did not last as long.

Thank you for taking the time to read my concerns, and I wish you the best of luck representing the best interests of the People of New Jersey in Washington.

Sincerely, the team..thanks T!!!