Let’s back up now!!!

I get the impression from both powayseller’s and rich’s posts that they expect the US Fed to do what is best for the American citizens.

That is a bad assumption and it is, IMO, the root of your frustration, powayseller.

The US Federal Reserve is a private corporation. Its first and foremost duty is to its shareholders which are the member banks of the Federal Reserve system. Each of the member banks is also a private corporation.

Central banks make money via wars and welfare. Read Congressman Ron Paul’s recent missive on gold – he makes this point far more eloquently than I can: http://www.house.gov/paul/congrec/congrec2006/cr042506.htm

Perhaps Ron Paul can provide some answers for you, powayseller.