For nearly 30 years, Congressman Ron Paul of Texas has waged war against the Federal Reserve. It seems that Congress and public opinion has finally caught up to him, and there’s hope for passing legislation that would audit the Fed. Read more about it here.
Why should you care? Because the Fed is spending YOUR money to bailout industry after industry, seemingly at random. Which one is next? Major newspapers seem likely to get federal money to keep them from folding. Let’s imagine that for a second. Would you publicly criticize the organization providing your paycheck? Why are taxpayers being asked to prop up businesses that make bad decisions, continue producing products people no longer want to buy, or that are becoming technologically obsolete?
I’m amused that what used to be Paul’s “wacky” ideas are now mainstream. Have we all become wacky? Or have we all started to wise up? Better late than never!