Original Reporting - Paul: The Fed Will Shut Itself DownSubmitted by goinsreport on Mon, 12/19/2011 - 14:15
In this article, I spoke to Dr. Paul and Mark Calabria of the Cato Institute and asked both to give their thoughts on Herman Cain's suggestion that the Fed should focus on a single charter rather than a dual charter. You have to read the entire article to see what they said.
From The Goins Report:
"In his speech, Paul said that he would not end the Federal Reserve in one day because it will “eventually shut itself down” when it destroys the currency. Rather he will work to break the FED’s monopoly on issuing currency by legalizing sound money including gold and silver and repealing legal tender laws.
“My idea is sort of a copy of what Hayek’s had talked about,” he said. “Why don’t we denationalize money, legalize competition, allow free markets to work, allow free market banking to work?”
He added that we should repeal taxes on gold and silver and even allow private mints to issue gold.
GoinsReport.com also asked Mark Calabria, a Cato Institute policy scholar in attendance, to give his opinion about Herman Cain’s statements about the Federal Reserve."
Read the rest here and watch the video:
"Ron Paul Hardly Agrees With Herman Cain on Federal Reserve"