The amount of money that is in circulation has been holding steady for the last year This has never been true at any point in recent history: http://research.

The amount of money that is in circulation has been holding steady for the last year This has never been true at any point in recent history: http://research.stlouisfed.org/fred2/series/M2?cid=29 http://research.stlouisfed.org/fred2/series/M2?cid=29 Granted, the uptrend is a lot shallower than it was a year ago. Except that Congress lacks the power to do such a thing. The Fed has that power[...] Also untrue. Congress created the federal reserve through an act of legislation, and congress can just as readily destroy it.