RON PAUL: FED'S QE3 'DETACHMENT FROM REALITY' #tcot

WND EXCLUSIVE

Congressman demanding audit predicts worse economic crash than 2008

A member of Congress who has been pushing for more transparency, including an audit, of the Federal Reserve for years says the announcement today the quasi-governmental agency is going to print more money to try to help the U.S. economy isn’t surprising.

Nor is it smart, said U.S. Rep. Ron Paul.

“No one is surprised by the Fed’s action today to inject even more money into the economy through additional asset purchases. The Fed’s only solution for every problem is to print more money and provide more liquidity,” Paul said.

“Mr. Bernanke and Fed governors appear not to understand that our current economic malaise resulted directly because of the excessive credit the Fed already pumped into the system.”

The Federal Reserve said today it is launching its third attempt to revive the U.S. economy, once again by printing more money.

According to a report in CNN, this edition of the program will involve having the government buy $40 billion in mortgage-backed securities per month – with no set end date.

Read the article at World News Daily...

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