Now, I cannot be sure that the reason the authors of this article attack Ron Paul is because they have connections to banking special interests, however it certainly looks that way. After all, here’s their recommendation to solve the problem of unprecedented power grabs by the officials at the Fed:
Forming a committee of experts to write a report on the crisis might help reassure the public and provide some lessons for crisis management in the future.
Yes, that’s right. If we just form a committee of experts to write a report, then everything will be OK again. No need for Congress to look into the Fed’s books on a regular basis to see if there’s any fraud or mismanagement.
I wonder if it might be about time for the big guns in the Austrian and Chicago school to organize a counter-petition in favour of Ron Paul’s “Audit the Fed” bill. The pro-Fed economists have found 400 to support their side. Surely there are at least 400 libertarian economists arguing the other side? If the petition was circulated by the Campaign for Liberty, some generous individual would probably even pay for a full-page ad in the New York Times.
Maybe the problem here is… we’re dependent on the government to audit the Fed?
I mean, I think we all agree that government is inefficient, ineffective, and horribly bloated. The sooner this rotten system collapses under its own grotesque weight, the better. Amirit??
I support the FED, I support government health care reform, I support any program they wish to create, so that they WILL buckle under their own weight.
We’ll have single payer within a year. Who wants to bet? :-p
What would happen if the people of the late great USA discovered their country has been technically bankrupt for years? What if they discovered their biggest “private” firms are not built on real wealth but on a mountain of debt? And all backed by an official act of Congress. What would Asian central banks and investors do? Even if rating agencies kept debt rating in the AAA class would they still buying bonds and stocks from a clinically dead economy?
Expect more shenanigans to follow… at least they’ll give us a good laugh. [:D]