Questions For Tom Udall: The Federal Reserve

  1. The Federal Reserve is a private corporation doing public business. In theory it works for the government but it is un-regulated, un-audited and secretive. A bill to Audit the Fed is stuck in the Senate after being passed by the House. Your party stonewalls the bill despite the fact that upwards of 70% of Americans want to know what the Fed has done. Why won’t you Audit the Fed?

  2. You have supported all the Federal Reserve Chairs of the last twenty five years. You are happy with the latest Chair since she is a woman. However, the Fed policies of loose money helps create the income inequality you complain of. Aren’t you being hypocritical?

  3. You voted against TARP but later voted to release funds to President Obama. This violated your desire not to help big banks and big business, help Wall Street, bankers domestic and foreign, and push stimulus money to crony capitalism goals. Why did you vote to give TARP funds to President Obama?

  4. Why do you support QE3 in which the Fed prints money, buys the money, and sees that the money goes to banks to improve balance sheets, all the while exploding the national debt? Why won’t foreign countries buy our debt anymore?

  5. What are your feelings about the National Debt? You have never voted against raising the debt ceiling so obviously money doesn’t concern you.

  6. What backs the U.S. dollar?

  7. The Fed creates loose money, lowers interest rates, money flows into the stock market, long term savers earn less than a percent on savings, banks pour cash into the market as a way to make money without hiring because they have no customers. What do you feel the Fed is doing that help the poor and middle class?

  8. Why did Congress, before your time, give up their Constitutional duty to coin money?

  9. What do you think about the highly secretive creation of the Fed by rich industrialists who created the legislation in secret without Congress, pushed it through Congress in a late night session, and have run the bank like mafia since then?

  10. You believe and vote for government stimulus to help the economy. After two decades in Washington your votes have brought us overwhelming national debt, a spiraling unemployment rate, 50 million plus Americans on food stamps and a larger number on government teats. When do you start voting for the taxpayer and the governments eating habits? Stimulus has not worked.

  11. The Fed was created ostensibly to smooth out the economy by moderating the money supply and controlling interest rates. We have been through several recessions in the last ten years, experienced the bubble break of 2000, 2008, and today. The Fed is failing in their job. All they are doing is providing money for big government to spend. When do you speak against the Fed?

  12. The value of our dollar has gone down dramatically since the creation of the Fed. A dollar these days is worth ten cents. How is the Fed protecting us when it decimates the dollar in our savings accounts?

  13. Isn’t the Fed just a Ponzi scheme that prints money, gives it to member banks for nothing, then the banks can loan it out to us for interest, the federal government can continue to spend on parties and friends, and the taxpayer is left with a headache and has to clean up the empty wine bottles?

  14. The Fed has extensive dealings with foreign bankers. Shouldn’t we get to know who they are and what they are doing?

  15. What is the Fed and Congress doing to protect the dollar when it is no longer a world currency? The Fed’s printing money escapades erodes trust in our dollar by those holding our debt?

  16. Why does the Fed need 4 to 5 billion dollars a year to operate?

  17. Do you deny that the Fed is monetizing the debt so we can afford to stay operative as a country?

  18. The bailout helped too big to fail banks. Your policies and votes support big banks. Your vote for Dodd Frank didn’t regulate big banks. Why do you support big banks that are too big to fail?

  19. Do you believe in a world currency?

  20. Congress supports the Fed. The Fed prints money that lets the Congress spend. Congress uses the money to buy votes and secure friends. These cronies vote for Congressmen who help them. It sounds like a cozy arrangement, doesn’t it?

  21. How can the Fed hold interest rates so low on one hand while printing money day and night with the other hand? Wouldn’t you say we have no inflation only as long as banks keep the money in their vaults and don’t loan it out?

  22. The Fed comments either make the stock market go up or down. What is going to happen when the Fed has to raise interest rate and collapses the market which, in turn, decimates retirement accounts and investments of the rich as well as the middle class?

  23. The Fed Chairman is one of the most important persons in America. Why is the chair appointed and not elected and why do members of both political parties always rubber stamp the appointment?

  24. You voted in favor of Yellen and praised her confirmation. She will be a continuation of policy from the previous Fed Chair. Why do you want these Fed policies to continue?