Yes, as you well know, fiscal and monetary conservatism is completely 100% dead in this country. Trump is no exception. However, when someone posts to me that Obama was better than Trump on the economy and debt, I have to push back on that pretty strongly. You want truth and reality? Deficits DO matter and the Fed should be ended. The Fed is nothing more than a Communist Central Economic Planner and they have created great distortions in our economy, including destroying price discovery, pulling forward economic demand, blowing massive asset bubbles, creating zombie companies, and destroying the capitalist clearing mechanism that comes with recessions. The Fed is the malignant tumor at the heart of our economy, and yet, very few people understand that, because we have a plethora of Nobel Prize winning economists, but none with practical business experience and common sense. Here's what Ron Paul has to say:
Forget Russia, Ron Paul Warns "It's The Fed That's Seeking To Meddle In Our Elections"
Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,
The US Constitution never granted the federal government authority to create a central bank. The Founders, having lived through hyperinflation themselves, understood that government should never have a printing press at its disposal. But from the very beginning of America’s founding, the desire for a crony central bank was strong.
In fact, two attempts were made at creating a permanent central bank in America prior to the creation of the Fed. Fortunately, the charter for The First Bank was allowed to expire in 1811, and President Andrew Jackson closed down the Second Bank in 1833.
But, unfortunately, a third attempt was successful and the Federal Reserve was unconstitutionally created by Congress in 1913. Americans have been living under a corrupt and immoral monetary system ever since. The Federal Reserve is the printing press that has financed the creation of the largest government to ever exist. Endless welfare and endless military spending are both made possible by the Federal Reserve. The Fed can just print the money for whatever the US establishment wants, so those of us who long for a Constitutional and limited government have few tools at our disposal.
Despite all the propaganda claiming “independence,” the Fed has always been a deeply political institution. Because the Fed is a government-created monopoly with key government-appointed employees, its so-called “independence” is a mere fiction. However, the US Congress created the Fed with legislation; it can also abolish the Fed with legislation.
Last week, the facade of Federal Reserve “independence” was dealt a severe blow. Ironically, the person who broadcast to the world that the Fed is anything but “independent” was ex-New York Fed President Bill Dudley. Dudley wrote that, “Trump’s re-election arguably presents a threat to the United States’ and global economy, and if the goal of monetary policy is to achieve the best long-term economic outcome, the Fed’s officials should consider how their decisions would affect the political outcome of 2020.”
The timing of Dudley’s threats to use Fed monetary policy to affect the outcome of a US election couldn’t come at a more striking time. After all, for more than two solid years Americans have been bombarded with fabricated stories about Russians rigging our elections. And yet here is a Federal Reserve official threatening to do the same exact thing - but this time for real!
Whether it’s the mainstream media, the CIA, the FBI, or now the Federal Reserve, more and more Americans are waking up to the fact that there is a Deep State in America and its interests have nothing to do with American liberty. In fact, our liberty is what the Deep State wants to abolish.
When it comes to the Federal Reserve, I stand firmly by my conviction that it needs to be audited and then ended as soon as possible.
America’s Founders were not perfect. They were human beings just as capable of error as we are. But they had a remarkable understanding of the ideas of liberty. They understood that liberty cannot exist with a government that has access to a printing press. Sound money and liberty go hand-in-hand. If we want to enjoy the blessings of Liberty, we must audit and then end the Federal Reserve! |
