"The Federal Reserve’s interventions enable the expansion of government well beyond what would be politically palatable if politicians had to finance the entire welfare-warfare state through direct taxation or borrowing at market interest rates, which would increase interest rates for private sector borrowers, lower growth, and increase unemployment.
Since the creation of the Federal Reserve, the US dollar has lost over 96 percent of its value. The Federal Reserve-caused decline in purchasing power is a stealth tax. This inflation tax does not affect the financial elites—who receive new money created by the Federal Reserve before the Fed’s actions have diminished the dollar’s purchasing power—but has hurt middle-and-working class Americans whose purchasing power is continuously reduced by the Federal Reserve. The inflation tax is not just the most hidden, but the most regressive of taxes.
The Federal Reserve is responsible for the growth of government, the loss of liberty, the rise in income inequality, and the boom-and-bust economic cycle. All those who support liberty, peace, and prosperity should join the effort to audit and end the Fed."
http://ronpaulinstitute.org/archives/featured-articles/2019/november/18/federal-reserve-enemy-of-liberty-and-prosperity/
"And so it is with Washington’s latest craze, the
movement spearheaded by Sen. Rand Paul to “
audit the Fed,” an
effort launched by the senator’s father,
Ron Paul, when he was in Congress.
The Fed’s financial statements have long been audited by professionals, but Sen. Paul’s bill is
not about that. Instead, he and those supporting his “audit” bill want the Government Accountability Office to give Congress annual reports on monetary policy functions of the Fed, or its core responsibilities."
https://www.brookings.edu/opinions/what-audit-the-fed-really-means-and-threatens/
"Congressman Ron Paul (R-Texas) and Senator Bernie Sanders (I-Vt.) had long worked together on their campaign for a full audit of the Federal Reserve, which emerged last year as H.R. 1207 and S. 604. Dr. Paul’s House version of the Audit the Fed bill had 319 cosponsors; Sanders’ Senate version, 32 cosponsors. Despite these bills’ massive popularity with a public grown increasingly suspicious of central banking, efforts to audit our central bank, the Federal Reserve, have been effectively thwarted for the time being."
https://thenewamerican.com/auditing-the-fed-the-great-sellout/
"The Federal Reserve Notes are unconstitutional, and we don’t have to pay interest on our debt, and we don’t have to have debt for that matter."
https://thefallingdarkness.com/u-s-currency-weak-and-about-to-crash-karen-hudes/
"In order to finance the Civil War, Congress authorizes the U.S. Department of the Treasury to issue non-interest-bearing Demand Notes. These notes earn the nickname “greenbacks” because of the green ink on the back. All U.S. currency issued since 1861 remains valid and redeemable at full face value."
http://www.uscurrency.gov/history