Lamar Alexander rejects transparency and supports the secrecy of The Federal Reserve System. Here is his outrageous response to a supporter of S.604. He writes us back like he is talking to school children. We have to hold him to task.

source: nasdaq.com

The relative value of the U.S. dollar is certainly a newsworthy piece of financial data reported consistently on the business news channels. The implications of its relative strength or weakness not only affects the level of trade between the United States and the rest of the globe but also affects bond yields, commodity prices, and inflation.

The present theory is that the increased spending from the stimulus programs initiated by the United States will eventually lead to rising inflation, increasing interest rates, and a sharply lower dollar. Assuming the stimulus works, global investors will be left to wonder whether the dollar is worth holding.

The United States has a debt ceiling in place. The debt ceiling puts a limit on the amount of debt the U.S. Treasury can auction off to investors. In September 2007, that ceiling stood at $9.815 trillion. In February 2009, that ceiling was raised to $12.104 trillion. This represents a 23.3% increase in a relatively short period (17 months). To put the increase in perspective, the deficit only grew by 20% during the 34-month period previous to September 2007. Not only is the deficit growing by a larger amount, but it is also growing at a pace twice as fast.

Congressman Paul discusses the failures of Keynesian economics, the true cause of the financial crisis, and the need to end the Fed