Ron Paul’s victory over Bernanke and the Federal ReserveSubmitted by DeMolay on Wed, 08/15/2012 - 21:04
WASHINGTON, August 13, 2012 — Prior to the 2008 financial crises, opposition to Federal Reserve orthodoxy was unacceptable in U.S. politics. The treatment of Ron Paul during the Republican presidential debates of 2007 and 2008 is evidence of that. His opponents repeatedly mocked him when he attempted to warn the American people that the Fed’s reckless actions would bring about a terrible financial catastrophe.
In 2012, discussion about the Federal Reserve is very different. The Fed is a topic that is now openly and thoroughly debated, due in part to its abysmal response to the financial calamity unfolding. Thanks in large part to the efforts of Ron Paul and the grassroots movement he inspired, the public is now aware of and debating the central bank’s actions, while alos protesting Fed policies.
The financial catastrophe of 2008 has made the public increasingly mistrustful of the Fed and its covert activities. A poll conducted in 2010 showed that the majority of Americans believed that the Fed should be severely reigned in or abolished. In a separate survey conducted by Rasmussen in 2010, 80 percent of Americans believed that the Fed should be thoroughly audited. As a result of its own actions, the Fed is now hotly debated in print, television, and in our public square.