hblask, on Monday, November 21st, 2011, 2:32 PM, said:
What he is opposed to, and is primarily referring to when he talks about ending the Fed, is ending the idea that an unaccountable, secret, semi-private group of corporate insiders should be able to make decisions that can so dramatically harm us.
I'm guessing you still have me on ignore because I enjoy poking holes in your absurdity, BUT:What scenario would you suspect holds a higher probability of producing outcomes which "can so dramatically harm us"?A. A group of incredibly well-educated and experienced economic scholars and practitioners with no political aspirations or motivations drive the nation's monetary policyB. A group of scumbag, child-molesting politicians with the collective IQ of a large sock full of horse manure whose opinions sway in the breeze with each new poll and would drown their own mothers if it meant getting re-elected drive the nation's monetary policyRon Paul seems to have a problem with the Fed because they aren't elected and therefore don't represent the people. It takes the mind of a toddler to poke holes in this line of thinking.1. The Fed Chairman and Board of Governors are nominated by the President (elected by the people) and approved by the Senate (also elected by the people).2. Every SC justice, appeals and district court judge is nominated and approved in the exact same manner. Does Ron Paul have a problem with this as well? I'm guessing not because it's written into the Constitution and he interprets the document like the people who interpret every word in the Bible as literal and relevant today. Congress founded the central bank in 1913 and easily could've made a Constitutional amendment. That they didn't is irrelevant to everyone except the crackpot right. But yes, apparently everyone was in on the grand conspiracy, the greatest conspiracy the world has ever known, the one in which the U.S. Congress creates a central bank, allowing a 'private' entity to destroy the lives of all Americans for all eternity. To what end is anyone's guess.3. See 'B' above, i.e. the entire point of the Fed is to insulate monetary policy from the whims of politicians who often have no formal training in economics and possess the moral fortitude of psychopaths.