Bachmann: I begged the Fed not to do it

Representative Michele Bachmann wrote a letter to Fed Chairman Ben Bernanke about a decision the Fed was considering $600 billion of printed money into the American economy. That letter was written October 14 prior to the election. The Fed decided to proceed with the plan on Election Day November 2. Bachman believes printing money will lead to inflation and a further devaluation of the Dollar. If Bachmann is correct – and I believe she is – inflation and Dollar devaluation will not boost the economy but will make products and services more expensive with a lower valued Dollar used to purchase the inflated priced products and services.

JRH 11/4/10