East Trade Street protest challenges Federal Reserve | THE JEENYUS CORNER

 

Meghan Cooke
Charlotte Observer

About 40 people gathered in uptown Charlotte on Saturday afternoon, calling for an audit and eventually the dismantling of the Federal Reserve.

The group stood holding signs that read “End the Fed” and “Give me liberty, not debt!” in a grassy area beside the Federal Reserve office on East Trade Street.

When UNC Charlotte senior Daniel Rufty took the microphone, he explained that he’d taken an oath to protect the U.S. Constitution against all enemies, both foreign and domestic, when he joined the U.S. Army.

“That is a domestic enemy,” he said, pointing at the Fed building.

Many at the rally decried the Fed’s quantitative easing, a monetary policy used to stimulate the economy, and called for political candidates willing to push for an audit of the agency. Others said that by continuing to print money, the Fed is devaluing the American dollar.

This month, the Fed announced its third round of quantitative easing, saying it would buy mortgage-backed securities until the labor market improves significantly.

An event organizer said people protesting the Fed planned to speak out at Fed offices across the country Saturday.

N.C. Rep. Glen Bradley, a Republican who represents Franklin, Halifax and Nash counties, attended the Charlotte rally. He said he opposed the Fed’s policies, pointing to inflation increases that lead to increases in the cost of food and fuel.

Rufty, president of Young Americans for Liberty at UNCC, quoted the Constitution, saying only that Congress has the power to coin money and regulate its value.

“Congress can’t even see what (the Fed) is doing,” he said.

SOURCE

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