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article imageNew petition against federal reserve, quantitative easing

By Alex Allen     May 20, 2013 in Politics
A new petition has been released on the White House's "We the People" website, calling for an end to the Federal Reserve's quantitative easing and its monopoly over currency in the United States.
The White House's official "We the People" petition service gained a lot of attention last year when citizens in all 50 states signed petitions for their states to secede from the union. The service was created, according to the website, to give all Americans "a way to engage their government on the issues that matter to them." According to the official rules, anyone can create a petition on the site about anything that matters to them and if they reach the threshold of 100,000 signatures the White House will issue an official response. An "official response," however, can simply be a statement by the White House that they do not wish to address the issue. For example, the White House's official response to the petitions to secede from the union was this:
In a nation of 300 million people -- each with their own set of deeply-held beliefs -- democracy can be noisy and controversial. And that's a good thing. Free and open debate is what makes this country work, and many people around the world risk their lives every day for the liberties we often take for granted.
But as much as we value a healthy debate, we don't let that debate tear us apart.
The White House also responded to a petition to start construction on a "death star" by saying this:
The Administration shares your desire for job creation and a strong national defense, but a Death Star isn't on the horizon. Here are a few reasons:
The construction of the Death Star has been estimated to cost more than $850,000,000,000,000,000. We're working hard to reduce the deficit, not expand it.
The Administration does not support blowing up planets.
Why would we spend countless taxpayer dollars on a Death Star with a fundamental flaw that can be exploited by a one-man starship?
Despite the lack of actual political action the service has garnered thus far, however, a new petition has emerged on the site; this time against the Federal Reserve.
The new petition titled "STOP the Federal Reserve's QE. STOP Fed's Monopoly in Issuing Currency." calls for the White House to request the Federal Reserve stop pumping money into the US and world economies through their quantitative easing programs. It also cites a recent lawsuit that has gone practically unmentioned by the media, in which a woman was filing a lawsuit against the Federal Reserve, claiming that their quantitative easing programs were causing her purchasing power to go down.
The full text of the official Federal Reserve petition is below. It currently has over 400 signatures.
The Federal Reserve has enforced four rounds of Quantitative Easing (QE) since 2009, which pumps trillions of USD into the financial market. A Chinese lady Liu Hua sued the Federal Reserve over abusing monopoly power in issuing currency on March 19, 2013. Ms. Liu claimed in the complaint that her dollars had shrunk by 30 per cent because of the QE. In the long run, the QE will result in serious inflation in the United States. And furthermore, it can take great impact on the whole world economy. Please take action to request the Federal Reserve to exit the QE as soon as possible. Thank you!
Case information:
Liu Hua vs. the Federal Reserve
(2013)Kun Li Min Su Chu Zi No. 3
More about Petition, Federal reserve, Quantitative easing, end the fed, QE3
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