MONEY: Kill the FED; save the Republic

Wednesday, January 25, 2012

http://www.pittsburghlive.com/x/pittsburghtrib/opinion/s_777634.html

Kill the FedBy Eric Heyl, PITTSBURGH TRIBUNE-REVIEWSaturday, January 21, 2012
Read more: Kill the Fed – Pittsburgh Tribune-Review

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John Allison is the former chairman and CEO of BB&T, the nation’s 10th-largest financial holding company. He was named one of the 100 most successful CEOs by the Harvard Business Review and since 2009 has been on the Wake Forest University Schools of Business faculty as Distinguished Professor of Practice.

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Q: In the long term, what do you think should be done with the Fed?

A: If I were in charge, I would get rid of the Fed. I believe that as long as the Fed exists, Congress can effectively print money. And it doesn’t matter whether they are Democrats or Republicans, they would rather print money than tax people. They want to spend because that effectively buys votes, and they don’t want to tax people because that loses votes.

I think the Fed provides the temptation for massive government deficits. If the federal government couldn’t print money, it would have to have better financial discipline than it has today.

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Vote Ron Paul.

There’s no other candidate on the horizon that understands or articulates that the FED is the problem.

It gives the duopoly — the D’s and the R’s are two sides of the same coin intended to give “We, The Sheeple” the illusion of a choice — an unlimited checkbook to borrow and spend.

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