Monday, April 30, 2012

Steve Forbes: Ron Paul Should Be Chairman of the Fed

Wow, this is big. Steve Forbes is not an outsider. He is a very sharp insider. If he feels comfortable calling for Ron Paul to be Fed chairman, times are really changing.



  1. Big indeed but correct me if I'm wrong but isn't Forbes in favor of our current clusterfuck foreign policy? If he is this may be another attempt to get Paul out of Romney's hair.

  2. perhaps as an insider he is extremely worried that ron paul will be the next president of the united states, and would prefer him in a position where one simply takes orders from the president of the united states, instead.

  3. The first sign of weakness is when there are attempts made to compromise.

  4. I think this is the GOP running scared, offer Ron concessions due to his ability to acquire delegates and Romney’s failure to attract any kind of citizen base, by handing him the one thing he abhorrently despises.

  5. Mr. Forbes revealed his preferences a few months ago I think, in this video.

  6. what a crock!! why would ron paul, who despises the fed and knows full well this private bank that destroys the value of the dollar is not constitutional, ever become chairman especially when he wants it abolished?? are you people really that gullible???

  7. This is a simple bribe pure and simple. They want Ron Paul to stop his campaign and just give up to let Romney take it. Then Romney can pick someone else for Fed Chair and say "Well, I never promised Paul anything."

  8. Hi!, Patrons Of The Economic Policy Journal Et Al:

    It would appear from what others are saying here that we had better make better use of our forsight; rather than become involved in the squabhles of hindsight? No matter what the issues are, the Fed should be abolished, so that we can have Article 1; Section 10 of our Constitution working for us mandating that the gold bullion in Colorado, New York and Fort Knox be coined and distributed to the American people FREE of charge including origination interest charges etc. It's questionable shouldn't we think, if Dr. Ron Paul would become our President, whether or not he would mandate or not that Article 1; Section 10 calling for specie gold and silver coins only in circulaation be invoked in behalf of all Americans? It appears that our present economic ills including the dilution of the purchasing power of our $ will continue; until such actions are taken to liberate us from the ills of monetary inflation until ?
    By the way the worst inflationary spiral in the history of currencies has been the Hungarian Pengo. The Hungarians were forced to adapt to a method of accounting that was based upon light years. Do we want to kick the inflationary can down the road until we face the same fate or call upon our President and our Congress + the Fed. to change coarse prior to the complete drop in the value of our $ to 0? So far their stealth monetary policies are earning the reputation given to other paper currencies which says that the Chinese were the inventors of paper money and sense that time paper money has caused the collapse of more civilizations than that other famous Chinese invention "gun powder"! Daniel Webster has this to say about fiat, paper money: "Of all the contrivances designed to cheat the laboring classes of mankind there has been none more successful than that which deludes them with issues of irredeemable, fiat paper money!"
    Enough said?!

    1. Russ Smith for Congress!! You've earned my vote.. restore the Republic!!!

  9. Being a democrat, Ron Paul is someone I would support.

    I think Dr. Ron Paul could make a significant contribution to the country as the Fed Chair.

    Central banks have a role to play. recall the 2008-2009 crisis. There were no bread lines. Even the fixed news could not make that up. Compare that to the depression from the early 1900s. No body wants that. A central authority like FED is what made the difference, calming nerves, providing a support level at the bottom.

    So we can agree the institution is good. Some of it policies are also viable. Albeit with questionable execution. Dr. Paul could clean that up
    and provide it a structure and sound playbook.

    Unfortunately,Many more shocks and crisis coming..No doubt about that so long as paper currency fiat money exists.

  10. To the anonymous Democrat: The reason there were no bread lines in 2008-2009 but there were in the 1930's is because at that time, the depression expressed its true economic function. It acted as a clearing function for all the misallocated capital from the previous boom (which it caused). In 2008-2009, the bottom was never reached. Then what happened? The Fed started its money-printing, which prevented a bottom from happening. Therefore, we just kicked the can again. This is why there will be another economic depression that will be Fed-induced in the future.

    For another real-life example: In California, they keep talking about expecting another big earthquake along the San Andreas fault. Seismic measurements at the fault-line demonstrate that the sides should slip by 2" each year, back to 1906 and the last big one. In the ensuing 106 years, there should have been total slippage of 212" (approximately 18'). The amount of slippage that has occurred is much less (I don't know the number, but the rubber band is still being stretched). This is the same effect that is occurring under the Federal Reserve: Until they allow a depression to fully wring out the effects of capital misallocation from the previous boom, there will always be a future threat of recession or depression. I don't know when it will happen, but I predict it will happen within my lifetime.