Saturday, April 13, 2019

The Beltarian Turncoat Nominated for the Fed

Stephen Moore
Stephen Moore, who President Donald Trump announced last month as his nominee for the Federal Reserve Board of Governors, has a history of advocating self-described "radical" views on the economy and government, reports CNN.

In speeches and radio interviews reviewed by CNN's KFile, Moore advocated for eliminating the corporate and federal income taxes entirely, calling the 16th Amendment that created the income tax the "most evil" law passed in the 20th century.

He has called for eliminating the Departments of Labor, Energy and Commerce, along with the IRS and the Consumer Finance Protection Bureau. He has questioned the need for both the Department of Housing and Urban Development and the Department of Education. He has said there's no need for a federal minimum wage, called for privatizing the "Ponzi scheme" of Social Security and said those on government assistance lost their dignity and meaning.

In 2015, he called for abolishing the Federal Reserve and returning to a gold standard.

That wasn't the only time:

But what happens when this beltarian sniffs the possibility of being part of the power structure?

His anti-state positions disappear and he becomes a true turncoat.

Here he is again recently denying that he was for the gold standard and now making clear he is in favor of Fed manipulation of the money supply. And in the Wall Street Journal op-ed that he wrote, that he references in the below video, he said about Trump's call for a cut in rates by the Fed:
When President Trump fumed that the Fed’s rate increases were smothering his growth policies, he wasn’t entirely wrong.

Moore in many ways reminds one of the inflationist money printing Fed Chairman Alan Greenspan. As Murray Rothbard wrote:
There is one thing, however, that makes Greenspan unique, and that sets him off from his Establishment buddies. And that is that he is a follower of Ayn Rand, and therefore "philosophically" believes in laissez-faire and even the gold standard. But as the New York Times and other important media hastened to assure us, Alan only believes in laissez-faire "on the high philosophical level." In practice, in the policies he advocates, he is a centrist like everyone else because he is a "pragmatist."...
Greenspan is only in favor of the gold standard if all conditions are right: if the budget is balanced, trade is free, inflation is licked, everyone has the right philosophy, etc. In the same way, he might say he only favors free trade if all conditions are right: if the budget is balanced, unions are weak, we have a gold standard, the right philosophy, etc. In short, never are one's "high philosophical principles" applied to one's actions. It becomes almost piquant for the Establishment to have this man in its camp...
Greenspan's "philosophical" Randianism will undoubtedly fool many free market advocates into thinking that a champion of their cause now perches high in the seats of power. 

1 comment:

  1. Turncoat indeed!

    I have NO problem with someone doing what is in their best SELF interest but then he should face personally the result of own decisions and not the protection and privilege of going along while fucking over the opportunities and financial well being of millions of others as a result of the policies he will endorse.

    A-hole indeed and action!