[mlmpetert]

Originally Posted by SirClintonPortis

My post was against a couple of Paul's principles. One, blaming inflation for for our woes. Now, I'm not too deep in knowledge about his platform, but he seems rather adamant about stopping it at all costs. If he's trying to "stop" inflation, that means it the inflation % must be brought down to 0% or less.

Two, he's trying to dismantle an institution that isn't that bad. His hardcore "must stop inflation" line would backfire on him and tossing the Fed sure wrecks the logistics of a lot of things, even little things like clearing checks. And, as I have already mentioned, if he doesn't want the Fed, then folks will have to live with the risks of bank runs and the risk of not getting any of their deposited money back.

I don’t think his idea of dismantling the Fed would be a overnight thing, he just wants to return to the Gold Standard (which im against). I think your thoughts that there will be no oversight of banks and basic things like check clearing will go away are misguided. Paul and most other people don’t care about that they just don’t like that the Fed has the ability to manipulate our economy though various monetary tools.

The one thing I would be up for is to have the Fed audited, which I see as a why not type thing. I don’t think its going to reveal anything but I think transparency is one of the most important factors in government including a private bank which exercises monetary policy.