Representative Alan Grayson explains how it is that the American public now owns the Red Roof Inn and why we desperately need to audit the Federal Reserve.    These are closely related questions, as Grayson dramatically details.   The Federal Reserve Bank needs to be audited because it excels at magically “make money out of nothing,” just by making notations on its books.   We have no way of knowing how it is that the Federal Reserve assumed liability for other large chains of hotels too.   The Fed has also put up half a trillion dollars in mortgage-backed securities.  Therefore, we, the People, are “owners” of massive amounts of real estate, which means that the Fed owns our homes when the mortgages go bad.  This is “stealth” socialism, says Grayson, because we don’t audit the Federal Reserve.

Grayson, a progressive, is thus calling on conservatives to join in the call to audit the Fed “before it all comes crashing down on us.”   Every time the Fed creates money out of thin air, “they’re taking that dollar that’s in your pocket and they’re making it cheaper–worth less.”