Tea Party Presidential Election Primer: Paul v. Cain on Economics
by Thomas R. Eddlem
The New American
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Herman Cain: Cain called TARP a “win-win for the taxpayer” in an October 20, 2008 column. “Unprecedented problems require unprecedented solutions. The actions by the Treasury are a win-win for the taxpayer.” After Congress passed the TARP bailout, Cain complained about how the money was doled out, but not about the principle of crony-capitalism where profits are privatized and losses are socialized.
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Herman Cain – a former chairman of the Kansas City branch of the Federal Reserve Bank – was an opponent of a GAO audit of the Fed until 2011, telling Neil Boortz’s radio audience in December 2010 that “There’s no hidden secrets going on in the Federal Reserve to my knowledge. And I tell people, we’ve got 12 Federal Reserve Banks. Find out which district you are in, call them up and go from there. We don’t need to waste money with another commission or an audit.”
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I think that the USA’s principle problem is the “dollar”.
It allows unchecked spending by the politicians and bureaucrats.
Fiat currencies (i.e., it has intrinsic value because the Gooferment says it does) have all eventually and inexorably collapsed.
Gold has stood the test of time.
The Federal Reserve Bank isn’t “federal”, reserves nothing, and isn’t a bank. It IS a banking cartel. Think OPEC for money. And, like most “monopolies”, it only exists because it enables the Gooferment, politicians, and bureaucrats to spend like drunken sailors. (With apologies to all drunken sailors who are spending their own money and stop when they run out. They don’t borrow more for someone else to pay.)
So Cain is the candidate of the Federal Reserve Bank!
Not very Tea Party Presidental candidate.
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