Posted on 02/23/2015 5:30:09 AM PST by cotton1706
Calling Sen. Rand Paul’s rhetoric regarding the Federal Reserve “dangerous and irresponsible,” via Politico, the Wall Street-backed establishment GOP is pushing back on what’s become a Paul talking point, just as it was for his father, Rep. Ron Paul.
Paul could face a significant challenge if he emerges from Iowa with a legitimate shot at the Republican nomination. Because experts say he gets many of his arguments about the Fed flat wrong. And the establishment wing of the GOP — backed by piles of Wall Street money — views Paul’s approach to the Fed as dangerous and irresponsible.
“He seems to have a poor understanding of what’s actually on the Fed balance sheet and how the bank operates,” said James Pethokoukis, a scholar at the conservative American Enterprise Institute. “And if you don’t have a firm grip on one of your signature issues, people eventually are going to doubt other things you have to say.”
But the fact is, the refrain has a receptive audience — a younger one, at that — the GOP is going to have to win over if it wants to have any chance with millennials.
Rand Paul traveled to Des Moines, Iowa, recently and delivered a sure-fire applause line. “Anybody here want to audit the Fed?” the Kentucky senator asked. “Anybody feel that the Fed’s out to get us?”He followed it up with an op-ed comparing the Federal Reserve to Lehman Brothers and calling it essentially bankrupt. The bash-the-Fed routine, perfected by Paul’s father, former Texas congressman Ron Paul, is political gold with libertarian voters suspicious of all federal authority, especially a central bank with a $4.5 trillion balance sheet.
(Excerpt) Read more at breitbart.com ...
“via Politico”... speaks volumes.
I have my doubts about Rand Paul, but from my point of view he has just received the strongest possible endorsement.
It shouldn,t take more than a week to get understanding of how the Fed is supposed to work. Then bore in and find out what it is actually doing. Then fix it.
I like Rand Paul. He is about 3rd on my list behind Cruz and Jindal and tied with Walker. I’d rather him be senator of KY for a long time than president, but I’d certainly prefer him to most of the others running.
especially a central bank with a $4.5 trillion balance sheet.
If you can't audit the Fed, how do you know that's really what the balance sheet reads?
Wait until he confirms Obamas AG.
Rand Paul, GOP, whatever. The whole lot are the enemy.
Why should any one be surprised? The incestous relationships between the Washington “ELITES” and the “MAINSTREAM” republicans is well known. It’s like a game of “MUSICAL CHAIRS”. These “FEDERAL BANKERS” and the Washington “ELITES”, and the politicians in Washington are attached to each other like “SIAMESE TWINS”. The Washington democrats and the Washington Republicans are one and the same.
what did you expect? they don’t like rand either
I believe Mr. Pethokoukis needs some education about our Constitutional Republic and fiat currency
I, being just a lowly self-taught/post-indoctrination serf (ahem, Citizen), see exactly how the Fed ‘works’...at $120+TRILLION in unfunded liabilities. Or how inflation has decreased the purchasing power of the Dollar
Yep. Must be too nuanced for me.
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