Counterfeiter In Chief in the Crosshairs

Debt,Economy,Federal Reserve Bank,Inflation,Neoconservatism

More and more in mainstreams are finding fault with the US’s counterfeiter-in-chief, Federal Reserve Chairman Ben Bernanke. Jeffrey Bell’s point is mild and purely utilitarian:

To maintain interest rates at zero, the Fed prints endless amounts of dollars, driving down the dollar’s value. In the short run, this props up the bond and stock markets, enabling big banks and big business to thrive. But the absence of interest rates is suppressing the lines of credit that enable small business to expand by a factor of two thirds, according to Stanford economist Ronald McKinnon. And in the U.S., small business is responsible for most new jobs.
So unless this printing of dollars is halted, we’re doomed to continued high unemployment. Gov. Perry should be commended for starting a debate that’s long overdue.

But at least he’s not fussing childishly about the Perry Fed statement, which, according to neoconservative Andrew Sullivan, “disqualifies Perry from the race.” The author of the Daily Dish is furious that “the integrity of a civil servant” has been impugned:

If this guy prints more money between now and the election, I dunno what y’all would do to him in Iowa but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous in my opinion.


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6 thoughts on “Counterfeiter In Chief in the Crosshairs

  1. CompassionateFascist

    Both the welfare state and the warfare state are financed by debt. Obviously, then, neo-cons are going to excoriate anyone who suggests that the Fed cease its destructive activities. Without debt finance, for example, the upcoming Isramerican attack on Iran would be impossible.

  2. Dennis

    This entire “FED THING” is a smoke screen to silently extend the Federal Government’s control over all activities individuals do. Has anyone ever thought about how many new laws, including all the ones affecting personal and commercial exchanges, are passed every day by the “servants of the people” in D.C.? NOTHING MATTERS TO THEM EXCEPT THE EXTENSION OF POWER.

    I wonder what would happen if 50% plus of all employed citizens “caught the flu” for a week – no planes, trains, automobiles, taxis, trucks, groceries, utilities, medical, production, TV, radio, and, finally, the Coup de Grace – no cigarette sales!?

    Hello Government! We the people are the ones who produce. You and the Fed take, by force or fraud, our hard-earned money. STOP IT! We are not Zimbabwe.

    ps: The following LINK will open eyes re how far along Social Justice has been pushed…

    http://news.yahoo.com/pope-demands-greater-ethics-economic-policy-100643829.html

  3. james huggins

    Perry may be a pretty boy but I think at least he is a man with a man’s instincts. If I were a reporter or political analyst I would run sobbing from the room at this point.

  4. Robert Glisson

    I read a quote attributed to Jefferson, “The press is full of liars and slanderers; however, we need a free press to keep our politicians honest.” when the Bill of Rights was presented. That saying is long gone. The press has moved into bed with the politicians and are either bragging or apologizing for the government ‘leaders’ on a twenty-four/seven basis now. The news community has loaded their guns to stop Perry. The minute he announced his hat was in the ring, the assault began. I still won’t vote for him.I would love to see that much hate directed in the press against Ron Paul. That would mean that he was considered a real threat like the empty suit Perry is.

  5. My RON PAUL i

    “Gov. Perry should be commended for starting a debate that’s long overdue.”

    Looks like someone from Texas with initials R. P. has STARTED A DEBATE on the Federal Reserve’s inflationary policy. No one else from Texas with those initials ever mentioned it in his campaigning nor wrote a book on the subject (here is the non-existent link to the non-existent book by the non-existent person):

    http://www.amazon.com/End-Fed-Ron-Paul/dp/0446549193

    Well – mo posting for a while – I’m off with In The Cannibal’s Pot to Seattle – maybe contact me and we can meet!

    [Myron, I sent you a message via facebook.]

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