Friday, August 30, 2013

The More Attention on The Next Fed Chair, The Better!

By, Chris Rossini

Obama's selection of the next Federal Reserve Chairman has been receiving a lot of press over the last several months. This is not part of the normal script.

The public is not supposed to be interested in such a "boring" and "complicated" institution. Just about every American has been born into this monetary "system" that was concocted 100 years ago. We're supposed to treat the Fed like the we treat the Sun. It's just there, and that's all you need to know.

One hundred years is a pretty good run...but unfortunately for those that run the "system", Ron Paul and the Internet came along. Now millions of people are making comments like "The Fed just prints the money out of thin air." In other words, like a fire spreading across a prairie, the victims are starting to get wise to the crooks.

Neil Irwin writes:
There are the dueling op-eds over who ought to be in the job. The New York Times editorial board strongly endorsed Yellen; some quick searching of the paper’s archives suggests it has never before made such an endorsement before a Fed chair was even nominated. So did Bette Midler. Just yesterday, Richard Trumka, the head of the AFL-CIO, came out in favor of Yellen as well.
The head of the AFL-CIO and Bette Midler are making Fed Chair endorsements??!!

That has to make the establishment's skin crawl!
Consider the last time a president was selecting a new Fed chair, in the summer of 2005. It was known that Alan Greenspan would soon be stepping down as chairman of the Federal Reserve, that President Bush would need to appoint a replacement, and that two leading candidates for that choice were Ben Bernanke and Glenn Hubbard. If you search the Nexis database from June through August of that year for “Bernanke,” “Hubbard,” and “Greenspan,” there were 27 articles in major newspapers. Do the equivalent search today, for “Summers,” “Yellen,” and “Bernanke,” and you turn up a whopping 143 articles.
People are talking...and that's not good for The Fed.

The more that people talk, the more they will find out...or hopefully want to find out. Senator Barry Goldwater once said “Most Americans have no real understanding of the operation of the international moneylenders. The bankers want it that way.”

Josh Barro at BusinessInsider also noticed the current "circus" between Yellen and Summers and blames Obama (my emphasis):
The White House appears poised to make a demonstrably bad choice for Fed Chair. If Larry Summers withdrew himself from consideration, or the White House announced that it isn't going to pick him, the circus tents would pack up and we could all go home. The Fed Chair race would become uncontroversial and boring again, Business Insider's existence notwithstanding.
Nah! Let's keep the focus on The Fed.

Let's not pack up the tents, but pitch millions more.

Let's turn Ron Paul's ever expanding prairie fire into a raging inferno!

Follow @ChrisRossini on Twitter

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