For those GOP establishment types that are pushing former Kansas City Fed Chair (’92-’96) Herman Cain as the man to fix the economy and rescue a collapsing financial system, watch Mr. Cain try to excuse his way out of not seeing the housing bubble. Then watch the cast of ‘Morning Joe’ ask Ron Paul how he knew and was warning about the collapse in 2003. The next bubble is the ‘dollar bubble’ and we’re in it right now. Wake up folks; Herman Cain is just more of the same with an even better disguise.
Reality is making an appearance this primary season with the continued monetary injections into the Eurozone and the subsequent highs and crashes of Wall Street. A majority of Americans have finally woken up to how fiscally insolvent our current path is (please see “There’s No Way in Hell We’re Making it to Nov 2012“) and are asking for something ‘bold’. Do you really think that voting for a former Federal Reserve Bank chairman who wants to add yet another revenue stream (of your money) to the federal government via a value added tax (VAT; Herman Cain) is going to do the trick. If you believe that giving the government another way to bleed you is a fantastic bold idea, then go right ahead and elect Mr. Cain. Is the 9.9.9. plan for perpetuity or just until they raise it to 77% like they did with the un-Constitutional income tax five years after it’s inception? Or would you rather have a candidate that would repeal Obamacare, Dodd-Frank, SarbanesOxley, abolish TSA, end the wars, repatriate trillions in off-shore profits, cancel presidential executive orders, restore sound money, and balance the federal budget in 3 years? (Just for starters).
This guy is unbelievable. Herman Cain answering questions about the Federal Reserve by Reality Reporter Julio Rausseo. Mr. Cain thinks that the Federal Reserve was doing a great job up until 2000 and now they have gone off track. He believes that ending the fed would be tantamount to grounding all planes after one plane crash and he believes that the $10 trillion in debt that was racked up by Congress because the Fed gave them a credit card was all okay because sound economic policy was in place and foreign investors were buying our debt. He states that he disagrees with printing money out of thin air, but believes that unsound economic policy than does not grow the economy has caused our debt to be less than appealing to buyers. Where Mr. Cain completely misses the point is that the DEBT IS UNSUSTAINABLE, should never have been allowed to happen in the first place, and that it was made possible by the Federal Reserve Banking System. (Please take the time to check out the related links following the video.)
If the Federal Reserve is so unbelievably indispensable, how the hell did our country make it the first 137 YEARS WITHOUT IT AND THE INCOME TAX?
“Sound economic policy means ‘don’t run up the national debt from $10.4 trillion to $14.7 trillion in two and a half years.” – Herman Cain
I do believe that Herman Cain did not realize how many Americans are ticked off with the Federal Reserve, just exactly how ticked those Americans are, nor how many Americans understand that the Federal Reserve System is a private banking cartel that needs to be ended. Mr. Cain has really torpedoed his campaign by lying in response to Dr. Paul’s question to him during the Dartmouth GOP presidential debate this evening about comments that Mr. Cain made on December 29, 2010. Quite a few people, yours truly included, are concerned that Herman Cain is a Fed insider after becoming a member of the board of the Kansas City Fed in 1992 and chairman in 1996. How does a restaurant CEO with a bachelors in mathematics and a masters in computer science get a place at the table of the group setting economic policy? Can someone answer me that?
What follows is the question and the actual audio of Mr. Cain’s responses to a question about auditing the Federal Reserve.