PastorTony:
What exactly is your point? Don’t even try to change public opinion in favor of drilling in the US and a reasonable compromise on wildlife habitat until...what? Until the governors ofthe Federal Reserve do or do not do something you want them to do? All that agency does is increase the supply of money in circulation by sending credits to the member banks to cover deficits of Congress. The Fed does not, by itself, devalue money. Congress does that when they authorize massive deficits and then the Fed, in effect, counterfeits the money supply to a certain percentage. If you and I did that Pastor, we would go to jail for printing money in our basements. But when the Fed does it, they call that monetization of the money supply. Of course you are right that Fed actions affect many things in the economy but that is no reason for further delays in starting new oil drills on the outter shelf.
Like I said in my post - we do need to drill here there is no question about it. But, if and when we do prices are not going to come down because the dollar is freefalling. We need to do something about our worthless currency or we will be looking at $6.00/gallon gas next summer. My point is that not enough people are talking about the dollar crisis we are in. Drilling here is great, but it is not going to solve the problem.
BUMP!
The Fed does not print new money to cover deficit spending by Congress. Sorry.