Herman Cain defends the Federal Reserve

I’ve mentioned before that I’m skeptical of Herman Cain, who expected to make his second presidential bid official any day now, in part because of his deference to government over the free market. For example, he backed TARP at the height of the financial crisis in 2008 - calling it a “recovery plan.” He slammed opponents of the program on the right, calling us “free market purists.”

Now, Cain, a former board member of the Federal Reserve, is telling us that the central bank already has internal audits, that there isn’t anything new that we’d learn from a significant audit and they haven’t been hiding anything from Americans. He chalks it up to people not knowing enough about the Fed.

Hm. Ok. If the Fed wasn’t trying to hide anything, why did they want until legislation was passed with a statutory requirement forcing to release the names of foreign banks they loaned money to?

I’m not saying there is a government conspriacy here, but there has been an incredible lack of transparency on the part of the Federal Reserve. For example, why does Fed Chairman Ben Bernanke claim that they aren’t printing money when that’s exactly what quantitative easing is?

Despite Cain’s claims to the contrary, he is defending the Federal Reserve. And it doesn’t reflect the behavior of someone claiming to be a conservative.

Despite his support of the Fair Tax, unless and until Herman Cain issues a public statement repudiating his remarks opposing an INDEPENDENT audit of the Fed and pledges to vigorously pursue such and audit, I cannot support him. I’m sure he’s heartbroken at this news – NOT!

Herman apparently does not understand that the same folks who foisted the Fed on us understood the need to have a tax on incomes (for all but themselves, of course). There had to be a way to annually vacuum the excess fiat currency they would ultimately create out of the system lest the great unwashed (that’s us) catch on to their scam. The sort of inflation we’re seeing today — and will see accelerate — does NOT harm everyone: THOSE AT THE FRONT OF THE LINE (GOLDMAN-SACHS, J.P.MORGAN-CHASE, ETC.) GET THEIR “MONEY” FOR NEXT TO NOTHING while THOSE AT THE REAR OF THAT LINE (THAT’S US) GET NEXT TO NOTHING FOR OURS.

Unless Herman knows that the Fair Tax rate would need to float or spike much higher during times the Fed is running the presses flat out, I’m sad to say that his defense of the Fed while embracing the Fair Tax causes me to consider him the “double-minded man” mentioned in the Bible. Scriptures goes on to call that man “...unstable in ALL his ways.”

And we’ve already had our fill of unstable men in the White House. At least I have.

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