Thursday, September 20, 2012

On Mitt Romney and the Federal Reserve


The past few days, the media has thrown a hissy fit over Mitt's 47% comment; what's much more interesting, however, are Mitt's comments on that tape about Ben Bernanke and the Federal Reserve:
Yeah, it's interesting…the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we're issuing—which they've been doing, the Fed's buying like three-quarters of the debt that America issues. He said, once that's over, he said we're going to have a failed Treasury auction, interest rates are going to have to go up. We're living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who's loaning us the trillion? The Chinese aren't loaning us anymore. The Russians aren't loaning it to us anymore. So who's giving us the trillion? And the answer is we're just making it up. The Federal Reserve is just taking it and saying, "Here, we're giving it.' It's just made up money, and this does not augur well for our economic future.
You know, some of these things are complex enough it's not easy for people to understand, but your point of saying, bankruptcy usually concentrates the mind.
Are you listening Ron Paul supporters?!?

Mitt Romney is calling for an end to printing money.  Mitt Romney supports audit the Fed.  Mitt Romney has pledged not to reappoint Ben Bernanke.  Heck, Mitt asked Bernanke not to do QE3.

Are you listening Ron Paul supporters?!?

The Ron Paul crowd has claimed, for years, that reigning in the Federal Reserve is their #1 priority.  Well, congratulations guys, you won.  The Republican party Presidential nominee opposes QE3 and supports Audit the Fed.  While he has yet to address the topic, I strongly suspect Mitt would sign a currency competition bill into law if Congress passed it.  Based on his previous public statements alone, Mitt Romney will give the Ron Paul crowd 70% of what they're asking on their #1 issue.

Can the Ron Paul crowd take yes for an answer?!?

This piece of audio is a test for the Ron Paul crowd.  Will they make a realistic decision based on evidence and facts, or would they rather be a 'persecuted' minority sulking over a perceived slight that wasn't that bad in the first place?!? On January 20th of next year, one of two men will be President.  One of them will give you 70% of what you want on your #1 issue; the alternative doesn't know the size of the national debt.  That one contrast should speak for itself.

No comments:

Post a Comment