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A Guest's Contrarian Take On Dennis Kucinich's Recent Attempt To "End The Fed"

http://www.zerohedge.com/article/contrarian-take-dennis-kuci...

I have always mused and wondered out loud about the peculiar alliance between the likes of Ron Paul - a small government sound money advocate and people like Alan Grayson and Bernie Sanders who are admitted socialists. What is it about these two completely polarizing political viewpoints that brought them together to fight the Fed? In fact, I was utterly shocked that some libertarians mourned the defeat of Alan Grayson this past November citing his defeat as a loss in the battle against the Federal Reserve.

At the time my speculation was rather simple. Socialists resent the Federal Reserve just as much as we do, however for entirely different reasons. We resent the Fed for several basic reasons. The Federal Reserve is a monopoly and controls the supply of money. It centrally plans interest rates and has a flawed mandate to create full employment which is an illogical desire - because employment should always be liquid. Finally the Federal Reserve has a mandate of steady inflation which erodes the value of the money we hold and crushes savings bringing about a 95% decrease in the value of the dollar since the Federal Reserve's inception. Leftists like Grayson, Sanders and Kucinich hate the Fed because it is a private bank and usurps the power of Congress.

Continue:
http://www.zerohedge.com/article/contrarian-take-dennis-kuci...
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Thanks LL

I was just fixin' to post that.

that is a great site

I visit ZeroHedge almost every day.

Cool that you visit it too...next time you might be faster...

tomorrow is my birthday so I deserve to win some posting battles lol

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

yes

that is the distinction in a nutshell.

grayson was still good at raising awareness and drilling bernanke.

even if there were ulterior statist motives, i think most libertarians would agree debt-free currency in the hands of congress and under sunshine is better than murky interest-bearing Debt answerable to nobody.

congress already has the power to create debt, anyway

if the us treasury took over notes, then they will have gained no special powers that they didn't already possess.

Thank you Troy

for keeping this post alive in the active forum.

Merry Christmas!

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15