The Wahkiakum County Eagle - Established as The Skamokawa Eagle in 1891

To The Eagle:

The Chairman of the Federal Reserve Board recently begged Congress to keep politics out of regulating our nation's money supply. Well, friends, that sort of advice is exactly what we don't need.

Congress is contemplating some further regulation of the Federal Reserve and Wall Street. These efforts are misguided because Congress does not recognize the real cause of the financial disaster that has overtaken us. Our $14 trillion national debt and associated annual interest charges of $400 billion are a direct result of Congress allowing banks to create our money as in interest bearing debt.

To bring about any useful improvement in our situation, Congress must prevent banks from creating our money. In place of the bank's red ink money, Congress must exercise its constitutional authority in the money arena and create our money as credit. This black ink money will not be owed to anyone, will not create a debt and there will be no interest charge on it.

Shouldn't someone tell Congress?

Gilbert Vik

Cathlamet