Sunday, August 16, 2009

On Ron Paul's, Ahem, 'Audit the Fed' Supporters

One of the group's supporting Ron Paul's legislation to audit the Federal Reserve is the National People's Action Network (NAPAN). Their top target right now is the Fed. Their executive director, George Goehl, recently told me in a private conversation, when I asked him what he thought of Paul's bill to audit the Fed, without hesitating he said, "I think it's great."

Don't take his anti-Federal Reserve stance as an anti-big government stance, though. He is a big supporter of government nationalized healthcare, intervention to stop mortgage foreclosures and government heavy handed control interest rates. He is protesting the Fed because he wants more representation "by the people" at the Fed. His people, of course.

The Central Illinois Organizing Project, which is a NAPAN front organization, is running major parts of their anti-Fed operation. What do they want out of their harassment of the Fed? The Herald & Review of Central Illinois fills us in:

The Central Illinois Organizing Project also called on the Fed to:

Organize a consortium of banks to make up to $1 billion in affordable loans for a pilot project to create good jobs and affordable housing in Central Illinois.

Give banks an "unsatisfactory" rating if they support payday lenders who charge more than 36 percent annually or have accepted bailout money without modifying mortgage loans in a meaningful way.

Support development of a Consumer Financial Protection Agency nationally and a foreclosure mediation project in Central Illinois.

Deputize Fed Gov. Daniel Tarullo to help the project members implement their proposals and grant them a follow-up meeting with Bernanke.
As I have pointed out, and as I now think Ron Paul is aware, Paul better be very careful on his audit the Fed legislation as it is very vulnerable to being hijacked by the radical left. This needs to be shifted to an End the Fed program real fast.

(HT to Jeff Strange who sent me the The Herald & Review link and who has just launched his own blog, Twin City Resistance.)


  1. I'm not sure there are a lot profiles in courage in DC, so an audit sounds more reasonable than an end to most people there.

    The other issue is what do you want after an end of the Fed? The Treasury to issue currency based on a gold/silver standard? That sounds fine to me, but a platform to end the Fed does require an alternative, while an audit does not.

    Lastly, it's easy to discuss the "radical left" as being something to watch out for, but I think that it's going to take a broad alliance to change the country's decline into an unfree empire with crony capitalism and a coming bureaucratic police state. If Kucinich isn't included in the discussion, I doubt we are going to go anywhere. We may not like this, but politics is about the possible.

  2. What's with the "Ahem"? Heck, what is with the profession on this issue? Take a stand, man. This issue is not unlike other issues in which freedom-minded Americans find left and right meet. The imbecilic and morally outrageous war on drugs is one such issue that comes to mind. Plenty of market-oriented economists have spoken against this stupid policy that drives price up along an inelastic demand curve, serving to entice the most violent sorts of criminal organizations, making murder and mayhem in their quest for market share and profit. Oh, left-wing radicals might be for legalization because they are part of the drug market. Sooo, should we support the idiotic war on drugs because the radicals would be against it?

    The audit of the Fed would reveal what the Fed has done. I think we should know the truth. How we handle it is something for another day.

  3. Not everyone agrees with that gentleman's beliefs, I know I most certainly do not.

    To try to associate someone like him with the real Liberty minded Americans in asinine.