texpat

Auditing the Fed Is Economic Suicide

"The free market understands that auditing the fed is a very dangerous line to cross."

The Fed has nothing to do with a free market. It's a state enforced monopoly that has continuously debased the currency since it was founded. Furthermore, Ron Paul is a libertarian who would like to see the federal government at a fraction of its current size. He wouldn't have proposed his bill if it created the risk you assume.

Government spending is out of control and the tab will have to be paid. The only ways to pay are through (a) higher taxes, which would be political suicide at this point; (b) borrowing, which just postpones the taxes unless a default occurs; (c) inflation, which is dressed up in euphemisms like "providing liquidity" or "quantitative easing", and which is inevitable whether the Fed is audited or not.