Indeed. End the Fed.
Sounds so radical doesn’t it? Isn’t the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesn’t blow up?
What if I told you that it doesn’t smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has “blown up” multiple times under the Fed regime? The world is worse for having the Fed in it.
He wants a vote on his “Fed Transparency bill” which calls for an audit of the Federal Reserve.
The Wall Street Journal got this right in an editorial today:
Critics of crony capitalism are found on both the left and right. This creates a very interesting alliance. For example, left and right work together to audit the Fed. We can also audit each other’s ideas for factual accuracy.
Get on the phone and tap those keyboards folks.
*Cantor has apparently decided to bring the Audit the Fed bill to the floor of the House for a vote.