Turns out that Herman Cain is a former chairman for the Federal Reserve Bank of Kansas City. From WND:
Cain has faced criticism from some conservatives for his service as deputy chairman (1992-1994) and chairman (1995-1996) of the Federal Reserve Bank of Kansas City.
Rep. Ron Paul, R-Texas, who this week launched his own 2012 campaign for president, has consistently sponsored bills calling for an audit of the Federal Reserve System, which prints and controls the dollar and sets associated interest rates.Paul also authored the 2009 book, "End the Fed."
However, Cain told WND those who are troubled by his time at the Fed should do some research on the subject.
"They need to go back and look at how the Fed performed in the decade of the '90s when I was on the Fed board," he said. "I'm not on the Fed board now."
He continued, "Secondly, if that's going to be the single disqualifier for people not voting for me, then they are certainly going to pick the wrong person to be president of the United States. Do you want to know why? Because if you end the Fed – this is what Ron Paul wants to do – how many jobs is that going to create? How much energy independence is that going to create? How many immigration problems is that going to fix? How much spending is that going to take?
The problem with saying that the Fed did a good job in the 90s is that its entirely irrelevant. The whole idea of the Fed is kind of like the portion of the EPA dedicated to reducing CO2 emissions. It doesn't matter of they do a good job because the job that they are doing shouldn't be done in the first place.
Plus the whole point of electing someone who is not a politician, would be to get some one who is not from the world of elitists. And if you put the kind of people who are elitist in order, it goes first big bankers, then politicians, then media moguls or something like that. So his history is actually a little worse than some one who has spent their lives in the world of politics.
No comments:
Post a Comment