Comments on: End The Godforsaken Fed http://theothermccain.com/2010/02/10/end-the-godforsaken-fed/ "One should either write ruthlessly what one believes to be the truth, or else shut up." -- Arthur Koestler Fri, 25 May 2012 06:40:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: theCLhttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3341 theCL Wed, 10 Feb 2010 22:39:48 +0000 http://theothermccain.com/?p=2250#comment-3341 Ending the Fed has been on the front-burner of mine, ever since I learned how it worked back in my college economics classes ... 20 years ago. The free market, or capitalism, does not create peaks and valleys. The Fed does. Hayek won the Noble Prize in '74 by proving this fact! Economists have written about this for centuries, but it took the Austrian school, specifically Hayek, to finally bring it recognition. It is therefore difficult for me to believe smart guys like Bernanke, really have the best interests of the people at heart. That's a matter of faith I cannot grasp. And considering that the "management" of the monetary system is Statist by definition, I cannot accept that it's not "intrinsically evil" either. Ending the Fed has been on the front-burner of mine, ever since I learned how it worked back in my college economics classes … 20 years ago.

The free market, or capitalism, does not create peaks and valleys. The Fed does. Hayek won the Noble Prize in ’74 by proving this fact! Economists have written about this for centuries, but it took the Austrian school, specifically Hayek, to finally bring it recognition.

It is therefore difficult for me to believe smart guys like Bernanke, really have the best interests of the people at heart. That’s a matter of faith I cannot grasp. And considering that the “management” of the monetary system is Statist by definition, I cannot accept that it’s not “intrinsically evil” either.

]]> By: theCLhttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-39821 theCL Wed, 10 Feb 2010 22:39:00 +0000 http://theothermccain.com/?p=2250#comment-39821 Ending the Fed has been on the front-burner of mine, ever since I learned how it worked back in my college economics classes ... 20 years ago. The free market, or capitalism, does not create peaks and valleys. The Fed does. Hayek won the Noble Prize in '74 by proving this fact! Economists have written about this for centuries, but it took the Austrian school, specifically Hayek, to finally bring it recognition. It is therefore difficult for me to believe smart guys like Bernanke, really have the best interests of the people at heart. That's a matter of faith I cannot grasp. And considering that the "management" of the monetary system is Statist by definition, I cannot accept that it's not "intrinsically evil" either. Ending the Fed has been on the front-burner of mine, ever since I learned how it worked back in my college economics classes … 20 years ago.

The free market, or capitalism, does not create peaks and valleys. The Fed does. Hayek won the Noble Prize in ’74 by proving this fact! Economists have written about this for centuries, but it took the Austrian school, specifically Hayek, to finally bring it recognition.

It is therefore difficult for me to believe smart guys like Bernanke, really have the best interests of the people at heart. That’s a matter of faith I cannot grasp. And considering that the “management” of the monetary system is Statist by definition, I cannot accept that it’s not “intrinsically evil” either.

]]> By: Insanity!http://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3332 Insanity! Wed, 10 Feb 2010 19:44:10 +0000 http://theothermccain.com/?p=2250#comment-3332 [...] End The Godforsaken Fed! I cannot grasp how the country has tolerated such a blatantly anti-Democratic organization as the Federal Reserve for nearly a century now. 2013 marks 100 years of a little group of folks handing out breadcrumbs while wrecking the economic vitality of the country. [...] [...] End The Godforsaken Fed! I cannot grasp how the country has tolerated such a blatantly anti-Democratic organization as the Federal Reserve for nearly a century now. 2013 marks 100 years of a little group of folks handing out breadcrumbs while wrecking the economic vitality of the country. [...]

]]> By: Chuck Crosshttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3328 Chuck Cross Wed, 10 Feb 2010 18:09:02 +0000 http://theothermccain.com/?p=2250#comment-3328 I agree not intrinsically evil, but just like how we refuse to look more than 5-10 years in the past when looking to "history," our officials legislate/decide for the NOW and can barely see past the next election when making decisions. And as you rightly point out, we have no say with respect to the FRS, an organization with the power to wittingly or more likely unwittingly, debase the savings/wealth of a great deal of our citizens. I agree not intrinsically evil, but just like how we refuse to look more than 5-10 years in the past when looking to “history,” our officials legislate/decide for the NOW and can barely see past the next election when making decisions. And as you rightly point out, we have no say with respect to the FRS, an organization with the power to wittingly or more likely unwittingly, debase the savings/wealth of a great deal of our citizens.

]]> By: Chuck Crosshttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-39820 Chuck Cross Wed, 10 Feb 2010 18:09:00 +0000 http://theothermccain.com/?p=2250#comment-39820 I agree not intrinsically evil, but just like how we refuse to look more than 5-10 years in the past when looking to "history," our officials legislate/decide for the NOW and can barely see past the next election when making decisions. And as you rightly point out, we have no say with respect to the FRS, an organization with the power to wittingly or more likely unwittingly, debase the savings/wealth of a great deal of our citizens. I agree not intrinsically evil, but just like how we refuse to look more than 5-10 years in the past when looking to “history,” our officials legislate/decide for the NOW and can barely see past the next election when making decisions. And as you rightly point out, we have no say with respect to the FRS, an organization with the power to wittingly or more likely unwittingly, debase the savings/wealth of a great deal of our citizens.

]]> By: smittyhttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3327 smitty Wed, 10 Feb 2010 17:56:21 +0000 http://theothermccain.com/?p=2250#comment-3327 @Chuck, The idea of managing a monetary system, and "trying to soften the peaks/valleys" is not intrinsically evil. Doing it in an opaque, unrepresentative manner is. @Chuck,
The idea of managing a monetary system, and “trying to soften the peaks/valleys” is not intrinsically evil.
Doing it in an opaque, unrepresentative manner is.

]]> By: smittyhttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-39819 smitty Wed, 10 Feb 2010 17:56:00 +0000 http://theothermccain.com/?p=2250#comment-39819 @Chuck, The idea of managing a monetary system, and "trying to soften the peaks/valleys" is not intrinsically evil. Doing it in an opaque, unrepresentative manner is. @Chuck,
The idea of managing a monetary system, and “trying to soften the peaks/valleys” is not intrinsically evil.
Doing it in an opaque, unrepresentative manner is.

]]> By: Chuck Crosshttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3326 Chuck Cross Wed, 10 Feb 2010 17:52:50 +0000 http://theothermccain.com/?p=2250#comment-3326 Excellent post, Smitty. As someone who has earned a living off a policy of inflation, easy credit and being one of the first in line for credit, it's not easy to attack the Federal Reserve. I don't think Bernanke and those guys mean harm either, but their policies of trying to soften the peaks/valleys of capitalism by smoothing out rough-patches is just passing the buck down the road for what will one day be a Reckoning of the system. Those heavily invested in the system will scoff at the idea that the market should set the cost of credit/risk (the interest rate), as opposed to the Federal Reserve. I believe they are wrong, and have a vested interested in cheap credit as they are first in line. If you ever want to read amazing critiques of the Federal Reserve beyond Congressman Paul, I suggest newsletter publisher James Grant who publishes Grant's Interest Rate Observer. He's made a lot of people on wall street a lot of $$$ with his ideas. Excellent post, Smitty.

As someone who has earned a living off a policy of inflation, easy credit and being one of the first in line for credit, it’s not easy to attack the Federal Reserve.

I don’t think Bernanke and those guys mean harm either, but their policies of trying to soften the peaks/valleys of capitalism by smoothing out rough-patches is just passing the buck down the road for what will one day be a Reckoning of the system. Those heavily invested in the system will scoff at the idea that the market should set the cost of credit/risk (the interest rate), as opposed to the Federal Reserve. I believe they are wrong, and have a vested interested in cheap credit as they are first in line.

If you ever want to read amazing critiques of the Federal Reserve beyond Congressman Paul, I suggest newsletter publisher James Grant who publishes Grant’s Interest Rate Observer. He’s made a lot of people on wall street a lot of $$$ with his ideas.

]]> By: Chuck Crosshttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-39818 Chuck Cross Wed, 10 Feb 2010 17:52:00 +0000 http://theothermccain.com/?p=2250#comment-39818 Excellent post, Smitty. As someone who has earned a living off a policy of inflation, easy credit and being one of the first in line for credit, it's not easy to attack the Federal Reserve. I don't think Bernanke and those guys mean harm either, but their policies of trying to soften the peaks/valleys of capitalism by smoothing out rough-patches is just passing the buck down the road for what will one day be a Reckoning of the system. Those heavily invested in the system will scoff at the idea that the market should set the cost of credit/risk (the interest rate), as opposed to the Federal Reserve. I believe they are wrong, and have a vested interested in cheap credit as they are first in line. If you ever want to read amazing critiques of the Federal Reserve beyond Congressman Paul, I suggest newsletter publisher James Grant who publishes Grant's Interest Rate Observer. He's made a lot of people on wall street a lot of $$$ with his ideas. Excellent post, Smitty.

As someone who has earned a living off a policy of inflation, easy credit and being one of the first in line for credit, it’s not easy to attack the Federal Reserve.

I don’t think Bernanke and those guys mean harm either, but their policies of trying to soften the peaks/valleys of capitalism by smoothing out rough-patches is just passing the buck down the road for what will one day be a Reckoning of the system. Those heavily invested in the system will scoff at the idea that the market should set the cost of credit/risk (the interest rate), as opposed to the Federal Reserve. I believe they are wrong, and have a vested interested in cheap credit as they are first in line.

If you ever want to read amazing critiques of the Federal Reserve beyond Congressman Paul, I suggest newsletter publisher James Grant who publishes Grant’s Interest Rate Observer. He’s made a lot of people on wall street a lot of $$$ with his ideas.

]]> By: AngelaTChttp://theothermccain.com/2010/02/10/end-the-godforsaken-fed/comment-page-1/#comment-3325 AngelaTC Wed, 10 Feb 2010 17:33:09 +0000 http://theothermccain.com/?p=2250#comment-3325 Thank you for writing this. Thank you for writing this.

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