Republican Vice-Presidential Candidate Paul Ryan slammed Federal Reserve’s plan to buy $40 billion in a month in mortgage bonds to situmulate the economy on Saturday.
Ryan made this speech in Tampa, Florida at a rally. Ryan compared the move and benefit to the economy a fake sugar high, reports The Blaze.
Ryan wants honest money and honest government. Ryan said the plan was insidious since the move will continue to debase the currency. The Federal Reserve is a private central bank and the government does not directly control its actions. The Federal Reserve has been around for 99 years.
Fed Chairman Ben Bernanke is doing exactly what he said he would do in a 2002 speech if he became FED chairman in dealing with a depression.
Ryan’s crtique of the FED is consistent with what Presidential Candidate Mitt Romney said in August.
Romney said he would replace Bernanke as he has received pressure from the Ron Paul supporters to audit the FED and its books.