Pretty much. If you understood what Bernanke has done to capital markets, the consequences for capitalism in this country, and the follow-on impact to Democracy itself, then you would understand why it is so important to get rid of Bernanke. He is single-handedly destroying capitalism and the pricing mechanism of our free markets. Without free markets, we become socialist or communist in the economic reward and resource allocations in this country. It's called Central Planning and it is a hallmark of Socialism and Communism. With socialist or communist economic policies, we start to lose our freedom to pursue our own destiny and with that, eventually we simply lose our freedom. This has played out in so many countries, that it is amazing we don't get it in this country. Cuba, Venezuela, Russia, China, Argentina, etc. The list is long and goes back centuries. And btw, this is not speculation on my part. It is exactly what my family saw in their birth country, which turned Communist. The incrementalism and the speed with which it destroys the foundations of freedom is amazingly scary and effective.
There is a reason that Democracies typically have vibrant free markets. Free market capitalism and Democracies go hand in hand. You can't have one without the other. Bernanke needs to go and we need someone like Volcker to replace him. Then we absolutely need to limit the Fed to one thing only: maintaining a stable currency. If that is not possible, then we need to just get rid of the Fed completely and Congress should resume the responsibility the Constitution (Article 1 Section 8) gave them and which they so conveniently and disastrously have delegated to the Fed over this past century.
If you want to know exactly how I feel, you should listen to David Stockman. He gets like only Ron Paul got it. Even Romney doesn't quite get the extent of the danger we face from the money printing Keynesian crowd.
Take a listen to him speak on CNBC. But it will give you insight into why I believe what I do.
video.cnbc.com
And a quick primer on what our US Constitution says:
Article 1 - The Legislative Branch
Section 8 - Powers of Congresshttp://www.usconstitution.net/xconst_A1Sec8.html
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfareof the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
To establish Post Offices and Post Roads;
To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;
To constitute Tribunals inferior to the supreme Court;
To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of the land and naval Forces;
To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;
To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; And
To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof. |
