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of course he is against it, I do think he is in favor of abolishing the fed instead.
What do you mean? The FED IS The Federal Reserve Bank. That is what he was part of.
People need to understand that the Federal Reserve Bank is nothing but a privately owned central bank that controls the ENTIRE MONEY SUPPLY and it does it in SECRET! It is no more "Federal" or a part of the government than Federal Express is.
The government USED to control the money supply but that was back before 1913 when we actually had REAL BONAFIDE PROSPERITY in this country.
of course he is against it, I do think he is in favor of abolishing the fed instead.
You may need to check your sources. He clearly has come out AGAINST abolishing the FED. In fact, though he says he thinks the Fed "should do something's different," his plan he discusses here is the same old rhetoric of "improve the economy and things will work themselves out." He puts forward no concrete new ideas on how he would like to see the Fed do anything differently.
Re the Fed (or Federal Reserve). Herman Cain has only spoken about redefining its role; dropping the full employment mandate, but keeping the inflation fighting mandate. The inflation fighting mandate has to do with money supply. He thinks the employment mandate is in conflict with the money supply mandate. Btw, it was CONGRESS that added the employmnet mandate. I think in the 70s, but could be wrong. Have no idea which party drove that. But if you are unhappy with that, then the fury ought to be directed at Congress.
I am not advocating, nor attacking Mr Cain's stance. Just reporting.
Quote:
Originally Posted by GWhopper
You may need to check your sources. He clearly has come out AGAINST abolishing the FED. In fact, though he says he thinks the Fed "should do something's different," his plan he discusses here is the same old rhetoric of "improve the economy and things will work themselves out." He puts forward no concrete new ideas on how he would like to see the Fed do anything differently.
Re the Fed (or Federal Reserve). Herman Cain has only spoken about redefining its role; dropping the full employment mandate, but keeping the inflation fighting mandate. The inflation fighting mandate has to do with money supply. He thinks the employment mandate is in conflict with the money supply mandate. Btw, it was CONGRESS that added the employmnet mandate. I think in the 70s, but could be wrong. Have no idea which party drove that. But if you are unhappy with that, then the fury ought to be directed at Congress.
I am not advocating, nor attacking Mr Cain's stance. Just reporting.
Thanks for the clarification. Don't get me wrong, I'm not one of these "Disband the FED" people or think the Fed is the result of some illegal global conspiracy. Unlike many who post here, I know that reading Posts on Alex Jones and other conspiracy theorists websites or reading email rants from someone's crazy uncle Festor does not make me a constitutional scholar or legal expert. I just feel the Fed should operate with more transparency and accountability than it currently does.
Re the Fed (or Federal Reserve). Herman Cain has only spoken about redefining its role; dropping the full employment mandate, but keeping the inflation fighting mandate. The inflation fighting mandate has to do with money supply. He thinks the employment mandate is in conflict with the money supply mandate. Btw, it was CONGRESS that added the employmnet mandate. I think in the 70s, but could be wrong. Have no idea which party drove that. But if you are unhappy with that, then the fury ought to be directed at Congress.
I am not advocating, nor attacking Mr Cain's stance. Just reporting.
Government can't do anything about employment except get rid of onerous regulations; fees and penalties on small businesses who are the ones that create the jobs.
They shouldn't be TAKING from taxpayers and gifting HUGE SUMS of monies on any industry or company AT ALL! Look at Cash for Clunkers! Look at Solyndra! GOVERNMENT IS CLUELESS when it comes to having the faintest idea about where jobs come from. Their regulations and penalties have done more to SHUT DOWN companies than they have to stimulate the economy by letting the FREE MARKET be!
Thanks for the clarification. Don't get me wrong, I'm not one of these "Disband the FED" people or think the Fed is the result of some illegal global conspiracy. Unlike many who post here, I know that reading Posts on Alex Jones and other conspiracy theorists websites or reading email rants from someone's crazy uncle Festor does not make me a constitutional scholar or legal expert. I just feel the Fed should operate with more transparency and accountability than it currently does.
No argument from this quarter. Somehow the Keynesian view of government economic assistance in high unemployment got highjacked, and became a vote getting mantra. I'm not a purist in the Austrian school of economics sense either, but talk about extremes. The Keynesian model is hardly recognizable.
Quote:
Originally Posted by emilybh
Government can't do anything about employment except get rid of onerous regulations; fees and penalties on small businesses who are the ones that create the jobs.
They shouldn't be TAKING from taxpayers and gifting HUGE SUMS of monies on any industry or company AT ALL! Look at Cash for Clunkers! Look at Solyndra! GOVERNMENT IS CLUELESS when it comes to having the faintest idea about where jobs come from. Their regulations and penalties have done more to SHUT DOWN companies than they have to stimulate the economy by letting the FREE MARKET be!
I think Cain's latest strategy of attacking Romney and Perry will hurt all three of them.
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