Saturday, June 18, 2011

Cain Goes on Attack Against Ron Paul Supporters

Herman Cain held a press conference on Saturday to clarify his his stance on hiring Muslims to work in the federal government, defend his decision not to sign an anti-abortion pledge and to  push back on reports that he does not sufficiently support gun rights, but there was more. Politico reports:
He started a tense half-hour press conference by announcing that he wanted to get a few things off his chest. Then, in response to a question from a conservative blogger, he lambasted supporters of Rep. Ron Paul (R-Texas) for criticizing his service at the Federal Reserve.

“I’m driving my staff crazy, but I be the candidate, OK?” he said. “There’s a lot of good stuff you can learn on the Internet, and there’s a lot of garbage out there … we won’t allow disinformation to kill this campaign.”...

“Representative Paul wrote a book called ‘End the Fed.’ I believe we can fix the Fed,” Cain said. “Because when I ask the Ron Paul people, ‘what would you replace it with?’ they don’t have an answer.”

Cain said he is falsely accused of opposing an audit of the central bank.

“As far as auditing the Fed, in the vernacular of my grandfather, I does not care,” he said, quickly slipping into the third person. “But what Herman Cain has said is, ‘It’s not going to be one of my top issues … If members of Congress were to get together and bring me legislation to audit the Fed, I’d sign it. But I don’t have a problem with it. Now, that being said, you don’t need the president to sign a bill to audit the Fed. Representative Paul sits on a committee that already has that authority!”
First, I'm not sure where Cain gets the idea that Ron Paul's House subcommittee can audit the Fed. That's news to me as I'm sure it would be to Congressman Paul. Congressman Paul has said more than once that even to issue subpoenas he needs the approval of the House Finance Committee, which is filled with congressmen bought and paid for by the banksters.

As for Ron Paul and his supporters not having a plan. That's completely untrue. The plan is called the gold standard. I direct the former Kansas City Fed president to the final chapter in Ron Paul's book, End the Fed. The chapter is titled, "The Way Out". It says:
There is another path, but it requires a complete turnaround. It requires only the political will to unplug the machinery of the Fed. Contrary to what people might think at first, this will not mean an end to the financial system as we know it. In a post-Fed world, we will still have the dollar, banks, ATMs, online trading...

When we unplug the Fed, the dollar will stop its long depreciating trend...Congress would remove the Fed's charter, and the president would stop appointing, Fed governors...At the same time, the dollar would be reformed so that it again would become redeemable in gold. The federal government's gold stock could be used to guarantee this convertibility at home and abroad. All remaining powers associated with money could then be transferred to the U.S. Treasury, but now there would be a check on what government did with its power.


  1. Cain has read the cover page of 'End the Fed', that's about it.

    “Because when I ask the Ron Paul people, ‘what would you replace it with?’ they don’t have an answer.”

    Please just shut up.

  2. NadePaulKuciGravMcKiJune 19, 2011 at 12:10 AM

    a Seven Nation Army couldn't hold Ron Paul's ideas back

  3. You replace it with the people. The people do not need a central bank to make investments and transfer cash in this country.

    In fact, not all banks are even apart of the Federal Reserve system. Only federally chartered banks are.

    Interest rates would be set by the bond market and the LIBOR rates. Growth comes from savings and investment, not the continuous debasement of the dollar.

    Every serious investor (day traders, bankers, venture capitalists, etc.) understands these principles and they are taught in just about every business school.

    Herman Cain never went to business school though. He has gotten to where he is at because he is a smooth talker that is good at advancing his personal self interests, not because he is some sort of business guru.

    The man was never a Tea Party type of guy before the Tea Party existed. He totally just swooped in on a grassroots movement that had a vacuum in leadership.

  4. "What would you replace it with?"

    Something is unconstitutional. It doesn't work. But don't touch it.

    Cain is a likeable guy.
    But he's establishment.

    And black, so lots of good ole repugs will want to run him as their answer to ObiWan. "See, we're not racist".

    But that's not the point.
    Rather our pseudo currency is green and we are in the red.
    End the Fed.

  5. Herman Cain has now endorsed RON PAUL.

  6. Herman Cain is imploding and he knows it.

  7. Under cross examination, all Ron Paul opponents have panic attacks for the public to see.

  8. "but I be the candidate, OK?"


    I am amazed at supposed "free-market" conservatives who oppose central planning only to favor 12 wise men to "plan" the money supply.

  9. @Richie

    Or, as I like to put it, " a room full of 'suits' who pull interest rates out of their collective asses and print money to back it up." Somehow, however, Ron Paul gold-standard supporters are the "crazy" ones. :(

  10. We'd be in a second great depression if we were on the the gold standard and that is not debatable. Most Rod Paul fans are pig-headed ideologues who don't understand how central banks or modern economies work, and would rather implement a silly yet simple model of finance rather then take their time and learn. There is a reason why most economists in the world think that the Gold Standard is a really bad idea, and if you think that is an incorrect statement than that only goes to show how unread you are.