Herman Cain on the Fed and Economic Stimulus

[patrik643]

9.99 pizza to go extra cheese, haha

[andyOsalek]

how do you want to cut without cutting the military genius? how do you want to cut pumping trillions into unjustified wars? how can you be so stupid? you want to fix the fed by expanding the goverment which is the root of all trouble? you want more legislations and more agencies? the system is dead. no fixing it. reboot and start over. no fiat, no enslavement by credit. Ron Paul 2012 or more of the same

[k3rojal]

People are sick of hearing this guy talk. You would think we had enough of that Obama guy.

[bendoverhereitcomes1]

The fed's lantern jockey.

[curiousinkling]

ROFLMAO! Herman Cain thinks that because congress passes a law it's constitutional. What a total dumbass.

[seppstein91]

how should we get rid of the national debt herman?we will never pay the debt back as you well know!!!

[mmyr123]

Just read the constitution. 

[DCUPtoejuice]

Cain BLEW IT on this issue. Deal breaker!

[DCUPtoejuice]

Cain makes the key argument FOR the FED. Which is that trusting it to congress can be even worse, potentially. END THE FED is a great goal, but Cain is a million times better than all candidates on the issue barr Ron Paul.

[Oceanno69]

/watch?v=_dmPchuXIXQ

[AryanKnight]

-Hahaaaaaaaaaa, --that's a good one, "Call-up the pvt./FederalReserve and ask them questions about their internal-audits!" More than likely this mr.Cain is just another Rothschild/Rockefeller-mafia strawman for Pres. of the usBank'ster-tyranny aggressively destroying n.America since 1913 when these insatiable warmongers hyjacked our usTreasury and installed their IRS-henchmen and jewZionist-ADL to extort our individual earnings; --and now Fraud'closing upon millions of jobless homeowners...!!!

[DCUPtoejuice]

Cain is absolutely excellent. We can take some major steps in the right direction with a President Cain. A million times better than an Obama, a Romney, or a Perry presidency.

[Oceanno69]

@DCUPtoejuice Cain is a FED! He worked from them in the 80's go look it up!

[DCUPtoejuice]

@Oceanno69 Yes, I know. I will vote for Ron. But Cain has many positives and may be able to take the nomination. We must minimize risk of ending up with Mitt or Rick. To his credit, Cain wants to reign in the Fed and understands the system.

[DCUPtoejuice]

Cain is the only candidate that even knows what the Fed is, can't we at least recognize that this is a million times better than most candidates? Cain would be a big improvement even if he doesn't want to abolish the Fed.

[ForMoreLiberty]

He said he didn't want to give social welfare back to the crookes that have controll of it now. Then right after says the fed should get back to doing what it was supposed to do. Please tell me he is not suggesting giving social welfare to the fed?

[streetz23]

The Federal Reserve is a keynesian creation. It is directly contradictory to a free market.

[streetz23]

For the record, Ron Paul simply wants to replace the Federal Reserve with the gold standard as regulated by a proper Congress. Our nation flourished during the gold standard as it is recognized via the Industrial Revolution.

[streetz23]

The Federal Reserve is unconstitutional because it's function regulates the value of our currency. Article 1 Section 8 states Congress has the power to regulate the value of our currency not the Federal Reserve.

[sourcingstrategies]

Herman Cain... you are an absolute Globalist! Being for the Federal Reserve as you are just proves that you are a PUPPET!!!

[muthemasphate]

jesus christ fucking retard fake black man

[mkauai2]

First he say's that because Congress created something it must be constitutional and a minute later he calls congress bunch of crooks... say what?

[ltucker9]

@mkauai2 That's a good point. I didn't catch that at first. Also I think there's some controversy surrounding the ratification of the sixteenth amendment.

[MrSupra7]

FED chairman. supporting the FED really? FED banker who had a major part i our economic crisis yea lets vote for this guy

[pianowitz]

Just because the Congress passes a law does not mean the law is immediately constitutional, Mr.Cain. There are many laws that are unconstitutional today. Cain is more of the same.

[ITDUBB5]

Ron Paul 2012. Cain is just more of the same!! All talk!

[ason2009]

Herman Cain is right! My dad has been a friend from Herman's for over 9 years. And if you know "us"--we ain't big timers. My dad works as a salesman for Geico and I work with a bunch of kids at an after school program. We are average Joe's as we Americans call it. Herman Cain is a real human being with a real passion for the United States of America. He is for 'We the People.' Get on the Cain Train.

[btr2oz]

BALONEY! MR. CAIN.

YOU NEED TO WATCH THE CREATURE FRONM JEKYLL ISLAND.

IT WAS NOT COMMISSIONED BY THE CONGRESS OR ANYONE.

IT WAS A BUNCH OF RICH OLD MEN WHO WANT TO BE MONOPOLIES.

[pbatusa]

Please approve my video response; or view it at my channel: "I Have a Dream"

Content of Character: I think HC scares all three party's.. That's a good thing.. unless the progressives use-it successfully to weaken and split the conservative vote... GL HC .. I'd vote for you. PLEASE FIX the federal reserve. Run-on-that!

angrydude net

[berfel1]

Cain is not a conservative. He is a federal reserve insider who says : " we need them". I never realized who this man is until now: a wolf in wolf's clothing lying to my face about who he really is. The federal reserve bankers are responsible for all the wars in the world. They also own all the major news media around the world and control the political spectrom with complete bias toward their horrific agenda of eventual world slavery. They only tell you what they want you to think!

[originalscottfree]

The congress acted outside their authority in creating the federal reserve, hence it is unconstitutional. Therefore it should be abolished.

[NGinuity]

@originalscottfree Can you elaborate? The end of Article 1, Section 8 (The Necessary and Proper Clause), makes it perfectly Constitutional. "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof."

Seems pretty straightforward to me, and SCOTUS agrees with me as of McCulloch v. Maryland in 1819.

[originalscottfree]

@NGinuity That is the problem with implied vs. express powers. McCulloch v. Maryland was a means to an end, the court agreed that the constitution did not expressly allow the congress to form a national bank, instead it ASSUMED the need for the bank as a means to tax the people. Just a backwards way to get the power out of the people’s hands and into the federal government’s..... Just because it happened doesn't make it right.

[NGinuity]

@originalscottfree It's only a problem if you consider implied powers unconstitutional. I'm not sure where you think the link is between the Fed and taxation, but they have no such powers. The NAPC was meant for implied powers. It's perfectly acceptable to use that as justification (The intent is discussed in FP#33). If we still used the Articles of Confederation, it would be a different story. Also, if a Central Bank was so unintended, how come we had one as early as 1781?

[jeffbell1301]

@NGinuity

I don't know much about the Bank of North America from 1781, but I do know The First and Second Banks of the United States, the central banks that came later on, were ABOLISHED!! So why were those banks abolished? Because they were good for the country and people loved them? Why isn't the Bank of North America still around today? Because it was such a successful and loved organization? Common sense

[NGinuity]

@jeffbell1301 The simple answer? Most politicians don't know a thing about economics and the need to keep monetary policy separate from election cycle influence, and they fear (just as you do) what they don't understand. Some politicians DO understand this. The other charters were expired out of fear (recharters were sent to the president, who exercised veto power. It's not really so much an argument of common sense, but fear mongering.

[originalscottfree]

@NGinuity I'm not a big fan of Glen Beck however he explains it so the masses can understand it. BTW the first two federal banks went under. Search youtube for Glenn Beck Exposes the Private Fed; Gets Fired by Fox watch the video, it will all make sense.

[NGinuity]

@originalscottfree They didn't "go under" (which implies bankruptcy), but instead were never rechartered because of the prerogative of a sitting president at the time. Also, there were three banks, not two, that met the same fate. I agree that Glenn Beck explains things in simple terms, but he doesn't always have the whole story himself, sadly. That, or he doesn't have his facts correct, including the factual errors with the book, as I have explained below in comments.

[BetsyRossConservativ]

"Some people say we ought to audit the Federal Reserve. Here's what I do know. The Federal Reserve already has so many internal audits it's ridiculous." ...CAIN

[jeffbell1301]

@BetsyRossConservativ

The internal audits tell us everything except WHAT IS IMPORTANT!!! Like where the bailout money is going and exactly how much of it there is. Do your research, don't just blindly follow what a former chairman of the Fed has to say.

[NGinuity]

@jeffbell1301 @BetsyRossConservativ Jeff, As of the signing of the Dodd-Frank act, as well as a compliance with a Freedom of Information act request, TARP loan transaction data must, and has, been disclosed by law. Not just that, but ALL loan data must be disclosed.  Don't just blindly follow what I say though, please, I invite you to research this as you have invited others to do.

[jeffbell1301]

@NGinuity

You have no idea what you are talking about

ronpaul.com/congress/legislati­on/111th-congress-200910/audit­-the-federal-reserve-hr-1207/

[NGinuity]

@jeffbell1301 Oh REALLY? Please. Elaborate. Is it possible YOU don't know what you're talking about? Stop taking for granted everything one person says and get a damn mind of your own. Question everything.

[jeffbell1301]

@NGinuity

watch?v=by430chzT98

watch?v=lXb-LrVkuwM

ronpaul.com/congress/legislati­­on/111th-congress-200910/audi­t­-the-federal-reserve-hr-1207­/

Theres some research for you buddy

[NGinuity]

@jeffbell1301 How about you give me something other than Zeitgeist you droning zombie? The Fed, in addition to Dodd-Frank, is also subject to GAO, Internal, IG, and independent audits by D&T. Although Dodd-Frank just went in, the other audits have been around since 1978. That's more auditing than any other organization under government control is subject to. It is non-secretive, under the full control of Congress, and they are only carrying out their mandate, so spare me conspiracy theory.

[jeffbell1301]

@NGinuity

I gave you money masters and the history of ron paul's fight to audit the fed, but that last link doesn't work, just google "ron paul hr1207". You only followed one link. So that's why theres a fight going on to audit the fed right now? Because they're already telling us everything we need to know?

watch?v=A4kxTkhwR_Q

watch?v=1pVV4n2lKH

watch?v=n0NYBTkE1yQ

watch?v=mXmNpdYpfnk&feature=re­lmfu

watch?v=OC5uQx1W87I

Christ, how much info do you need?

[NGinuity]

@jeffbell1301 I've read HR 1207 and the great majority of it overlaps current audit practice. I've tried to tell you that. There's a reason it's stuck in committee every year he introduces it, because committee agrees it's superfluous. While I might agree with you that there needs to be a little bit more regulation addressed (as with any entity in government), that doesn't mean I'm in favor of outright getting rid of it based on the misunderstandings of a slim minority.

[jeffbell1301]

@NGinuity

The link to Ron Paul's website tells of the history leading up to HR 1207 and how it was watered down, much more informative than just reading the bill itself. "A Rasmussen Reports telephone survey found that 75% of Americans favor auditing the Fed."

And that was July 2009, wouldn't call that a slim minority. I agree with you in the sense that maybe we should just have more regulations and more congressional oversight. Did you follow those 5 links to congressional debate over the fed?

[NGinuity]

@jeffbell1301 Yes, I looked at them. Some I had seen previously, though. I try to stay up on those things. I've also read the congressional record on HR 1207, and basically, the reason it was changed was to provide compromise between both parties, just like we do today. And again, though, I'd like to restate my point that quite possibly, the reason 75% of America would be in favor of that because they don't know the current legislation in play for audits of the Fed.

[jeffbell1301]

@NGinuity

The Dodd-Frank act is a PARTIAL audit, was passed LAST YEAR, and only accounts for like 3 years of transactions. The Fed has been around for 97 YEARS you moron. Follow that link and then come back here and tell me to do my research some more. I guess you don't care that our dollar has lost 96% of its value since the fed was signed into enactment. Are you arguing that the Federal Reserve is a non-secretive organization that works for the good of the US?

[1985lsf]

WTF do we need a replacement for the Fed? WHY? Was there no business, trade or merchandise prior to 1913? OF COURSE THERE WAS and America had nonstop growth before the Fed began choking our economy.

[Livefreerevolution]

what an assclown Cain is. In 1913 the ILLEGAL ACT was passed through in the middle of the night on Christmas eve with 2-3 members. Woodrow Wilson said it was the worst decision of his life

[meigan258]

@Livefreerevolution do you lave a link to this "2-3 members" passed this through in the middle of the night, other than your say so?  What does this have to do with Herman Cain and why are you saying this? I don't think he was alive back then.

[NGinuity]

@Livefreerevolution @meigan258 LiveFree: The Federal Reserve Act was passed on December 23, 1913 by a vote of 298 to 60 in the House of Representatives, and 43 to 25 in the Senate.

I wouldn't call that only a few votes, and your Woodrow Wilson quote was said before he signed the Federal Reserve Act, so it clearly isn't a reflection of his opinion of it. That's actually from "The New Freedom: A Call for the Emancipation of the Generous", published early in 1913, page 201.

[jeffbell1301]

@NGinuity

There is little doubt in my mind that the vote would have passed eventually, but by slipping it through as they did while certain members were away for christmas holiday, it circumvented the possibility of challenges and debate. A strict interpretation of the Constitution would have this vote completely invalid

[NGinuity]

@jeffbell1301 I'd have to disagree with you. The vote for the Federal Reserve act was passed with a majority in both houses and the charge that "most were away for Christmas" is a Conspiracy Myth. It was debated WELL in advance. Feel free to go look at the congressional record anytime. The House passed the bill 298-60 on the evening of Dec. 22, 1913. The Senate began debate the following day at 10am, and passed it 43-25 at 2:30pm. That's still a majority outright and absolutely a quorum.

[jeffbell1301]

@NGinuity

As of early 1913, surely Wilson had already accepted campaign funds and support from the prominent bankers behind the Federal Reserve. Stating that what Wilson said about the Federal Reserve almost immediately before signing it into enactment is not a reflection of his opinion towards the subject is irrational. The first 2 sentences of the quote: "I am a most unhappy man. I have unwittingly ruined my country." - were apparently said before he died and were not a part of the quote

[NGinuity]

@jeffbell1301 That is, if he said that at all. I haven't been able to verify where he said that first part anywhere, but I'm still open to validation of it from a reputable source. And that being said, my point was, why would he publicly state opinion in opposition to the act he was about to sign? He may have accepted campaign money from the banking industry, but I can't think of a politician that accepts campaign money in exchange for preferred treatment and then begrudgingly denounces it.

[jeffbell1301]

@NGinuity

Very few people get to say that they are the most powerful man in America. The question for me is how far would a man go to obtain that power? Maybe he gave in to the wishes of the bankers, knowing at least partially what was at stake and the implications of that decision, solely for the purpose of obtaining the political power to exert his influence on America (with good intentions I would like to think)

[NGinuity]

@jeffbell1301 Well, of course I could go along with the idea that a president is corruptible, but certainly not every member voting yea in both houses at the time. Even if his desire was to be the most powerful man in America, I find it slightly far fetched that he would acquire that stature solely to completely flush what he stood for down the toilet, especially on a strong issue as this. While it's certainly possible, in practice it doesn't seem plausible.

[jeffbell1301]

@NGinuity

I first learned of The Fed's malpractices from my American Govt professor in college. He showed G. Edward Griffin's "The Creature From Jekyll Island" (another good watch if u have the time) video to the entire class and had us all write a paper about what it is and how it works. I just have a hard time believing The Fed is an organization working for the good of America when the 1st and 2nd banks of the US, which were the same thing essentially, were abolished

[NGinuity]

@jeffbell1301 I've read the book, no need to watch the movie. The book has several myths, but the biggest perhaps is about the meeting itself. The meeting did take place, but the proposal that came out of the Jekyll Island meeting never passed Congress (The Aldrich Plan). This legislation was drastically different than the Federal Reserve act, and a lot of people blame Aldrich and JP Morgan. The problem, however, is that Aldrich had left the Senate before the 1913 Act, and Morgan was dead.

[jeffbell1301]

@NGinuity

You've brought up some very good points that I'll be sure to look into. Much more than the senseless rambling of someone who has grown accustomed to the system and refuses to accept the slightest notion of a possibility that there is something wrong with it. As it stands I believe The Fed is up to some dirty business, and cannot truly believe otherwise until HR 459 (the new HR 1207, gaining support fast) is passed and we can be sure of it. Thanks for debating, I'll keep in touch

[NGinuity]

@jeffbell1301 Absolutely. If it's the will of the people, HR 1207 will pass and I can't have issue with that, even though I disagree with it. Please feel free to friend me if you wish and drop me a message anytime. I am all for healthy, productive debate. Thank you as well for debating with me on a sensible level.

[jeffbell1301]

@NGinuity

I don't think every member of the House would have to be corrupted for the bill to pass, just a sufficient number to delude the rest into thinking they're voting for the right thing. When you're talking about the richest business owners and most prominent bankers in the world at that time, it most certainly is feasible. The fact that a legitimate possibility is even there is what bothers me. Ideally, we would have a system where there is no possibility of these things happening.

[NGinuity]

@jeffbell1301 I can see how you arrive at that opinion because I myself am a hyperskeptic (as indicated from all of my research) and extremely cynical. The fact of the matter is that we'll never know about the internal thoughts of Congress members at the time, and men and women are not infallible, but if we dismiss the point that the checks and balances the founding fathers set up in the Constitution are no longer sufficient, then I'm afraid we have bigger problems here than we are discussing.

[americaisbacktrump]

I think I heard that Congress failed to get the authorization from the States to start the Fed.

[NGinuity]

@americaisbacktrump They don't need authorization from the states. It's an enumerated power in Article 1, Section 8 of the Constitution: "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" They delegated it under powers of the "Necessary and Proper Clause", which is at the end of Article 1, Section 8 of the Constitution.

[jeffbell1301]

@americaisbacktrump

The charter of the fed rests solely on the Necessary and Proper Clause, also called the Elastic Clause because it stretches so far and covers so many things that the founders could not have foreseen or intended. NGinuity's reference to the constitutional authority "to coin money and regulate the value thereof" is actually reserved solely to Congress, making The Fed unconstitutional under a strict interpretation of our supreme law of the land.

[ModernPatriotsUnited]

Bush justified unlimited war based on "Congressional approval". The law is the law. When leaders vote in favor of unconstitutional mandates,THEY ARE BREAKING THE LAW CAIN! Double talking banker scum.

Ron Paul DOES explain what to replace it with! The Treasury & free markets.

[corysoulier]

Cain has it backwards. You End the fed. Let the markets dictate interest rates, and then you reduce the debt.

[reavister]

@corysoulier please answer the question Herman Cain posed... get rid of the Fed, and replace it with what? Please give details as to the plan, and how long it might take to implement. (minus the magic wand)

[corysoulier]

@reavister I believe I did answer the question but I guess I'll have to answer it again. Abolish the federal reserve and replace it with...NOTHING! We don't need it. We never need it and america did just fine without it.

[corysoulier]

Cain doesn't want to get rid of the federal reserve because he doesn't believe in free markets. Capitalism can't exist under a central banking system. Period

[meigan258]

@corysoulier ?Haha, say what? Capitalism has existed for almost 100 years since Wilson (a Democrat) signed it into law with most every Democrat in support of and most Republicans were against it. What do you propose replacing it with? Like future President Cain, said: We can't replace it with anything (and Cain is referring to the gold standard) until some of the debt Obozo racked up is paid down.

[corysoulier]

@meigan258 If you read my prior posts you would know. But, I will say it again. Abolish the federal reserve, and replace it with... NOTHING! America did just fine without it. The federal reserve was the primary cuplrit of our great depression in addition to all our other economic woes.

[Calanon24]

@corysoulier If you had done your research, you would know Herman Cain DOES believe in the Free Market, but he also realizes (correctly) that the free market can't solve everything, some things (like a 14 Trillion Dollar Debt) go beyond the free market. Especially with massive spending going on.

[corysoulier]

@Calanon24 Apparently it is YOU who hasn't done any research because if you had, you would already know that the federal reserve is the primary culprit of our current national debt. The federal reserve has the unconstitutional power to print money out of thin air withouth any checks or balances. The Federal reserve then uses this newly printed money to purchase government debt , thus creating a "safety net" or a green light for the federal govt. to spend at will.

[corysoulier]

Cain wants to make debt reduction his primary focus? That sounds good on paper but in the end it won't solve the entire problem. You need to attack the source of our debt which is the federal reserve because the fed enables congress to create more debt by buying up the debt. You can decrease the debt all you want but in the end it won't stop future deficits from occurring so long as we have a centralized banking system which is why I don't understand why Cain isn't making this his primary focus.

[CPAsheldon]

Thanks for posting this one. I was looking for more about what Cain thought about the Fed. I think it shows me that Cain has some common sense about how to take our nation forward.

[jimjljensen]

Be certain to watch the dvd documentary "INSIDE JOB" before deciding to vote for Herman Cain. An audit of the Federal Reserve is essential. Herman Cain is wrong and is defending the status quo..

[tbscrazy12]

Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly."

Communist Manifesto #5,

Karl Marx

[bigsexywzp]

If Cain's a supporter of Keynes (play on words of the video image), then I can't support him. Why do we need to replace the Federal Reserve with anything? We don't need a central bank. We don't need centralization PERIOD.

Get rid of the FED. Replace it with numerous banks and numerous currencies. And don't do the FairTax. It doesn't change spending. It doesn't cut government. It just changes how it's taken from us.

[TheSpliffyTiffy]

Drastic and disastrous decision? The FED is building up a never ending debt. When he says we have to get rid of the debt, he's lying to your face. Our money in circulation is loaned to us from the fed with interest. We have to borrow more to pay the interest, but that's another loan with interest. It's a never ending debt and if we don't take drastic action, out country is going to implode. Changing the tax code isn't going to do anything.

[DaydreaminAngels]

Great way to go about it Mr.Cain. I am so glad to know that someone is coming up with solutions that will work rather then making a drastic and disastrous decision.

[bigsexywzp]

@medzcine sorry I voted you down. Meant to vote you up. Cain's too much of a statist for me.

[gramavegas10]

Because Congress should have NEVER relinquished this responsibility to a private group of crooks!!!!

[kingcherub]

IS he arguing that congress is alone to blame for big government? Then why is it that the size of government has basically been steadily rising since the creation of the fed? Look at a chart of gubmint spending as a percent of GDP since 1913. He knows it.

[kingcherub]

"We didn't dream of doing...the things they are doing right now." Yeah, but they have always been stealing the value from our money. This guy is so full of shit people.

[kingcherub]

"Congress authorized the fed. How can that be unconstitutional?" Yeah, it is not possible for the congress to do anything unconstitutional. As long as congress says it's OK it must be constitutional. Is this guy serious?

[Christhepufferfish]

It's tim eto apply Cainsian Economics? srlsy? That's what we've been doing, that's why we are in the mess we're in.

[medzcine]

Mr. Cain answer this: 1.) when the United States borrows money from the fed. who do we specificaly pay that money to meaning which individuals. 2.) Who owns the fed. 3.) Does the fed pay taxes on the trillions they make and if so to who since they are a business?

[fgemmell]

@medzcine The Fed is a private bank and payment goes to it. Who owns it? International banking cartel. Taxes is a good question. First time I've heard that question.

[nitagirl614]

GEEZ You PAULTARDS! He worked for The Kansas Federal Reserve in 1992-1996 and it was ran differently than how it's ran today ...ALL YOU GUYS WANT S THAT ISRAEL-JEW hating, let America be the world's doormat, abuse your freedoms by siding with child molesters and legalizing drugs...THAT'S ALL IT'S ABOUT WITH YOU GUYS!

[pris72]

@nitagirl614 Don't forget also legalizing heroin and prostitution.

[LCDLGAZ]

@pris72 Ron Paul believes that is the best way.... sad!!

[TheSpliffyTiffy]

@pris72 I guess people like you must need laws to stop you from making a bad decision.

[jeffbell1301]

@pris72

Ron Paul wants to leave the issue of drug legality entirely up to the states. I can tell you with absolute conviction that there will not be one single state that legalizes every drug and prostitution as well, because THE PEOPLE don't want that. State's rights give more power to THE PEOPLE . Everybody is taking Dr. Paul's statements WAYYY out of context in an attempt to discredit him. He never said he personally approved of every drug or prostitution. I mean who does? No one really

[kynthful]

@nitagirl614

What? Child molesters? What has that got anything to do with the Federal Reserve? I hate to tell you but Ron Paul is the man that got this whole Tea Party and back to the constitution movement going - for years. He basically stood alone and everyone laughed. Now everyone is on the bandwagon but somehow they are geniuses. Do yourself a favor and actually learn what Ron Paul is all about.

[honkycabbit]

Look up: No Need To Audit the Federal Reserve According to Herman Cain

As for replacing the fed, just have your own government print the money! That's what Ron Paul says.

[honkycabbit]

Look up: No Need To Audit the Federal Reserve According to Herman Cain

[winterrosscharlton]

so basically, the Federal Reserve is "Constitutional" because Congress enacted it. that's a pretty low standard of analysis.

[BACyclone1]

Frankly, it doesn't really matter. Herman Cain's position is quite a bit higher minded, or intelligent and impactful than merely "auditing the Fed" or "end the fed"! He wants to go back to the gold standard. It would effectively neuter the importance of the Fed in society, at least by today's standards. Put another way - it would put the Federal Reserve back into a defined box where it would probably operate inside its original purpose...rather than being a monetary weapon. Then, who cares?

[BACyclone1]

Nowhere does Mr. Cain say he is against a Federal Reserve audit, he simply said that a Federal Reserve does provide some valuable service and that it is presently acting outside its original vision (like a lot of things today). He has said many times previously that he would support an audit, just not as the highest priority considering our deficit, debt, and unemployment. Frankly I think that is a far more wise position; if we are not seeking payday loans as a nation, who cares about the Fed?

[boredomstryks]

@BACyclone1 Wrong. I've heard the radio clip where he actually says the Fed does NOT NEED an outside audit.

[zaq001001]

@boredomstryks Yes....but that is only a sound byte from a larger conversation. Mr. Cain is a small government advocate. What he has said numerous times is that we should not be creating MORE government to audit the Fed. Congress already gets congressional testimony and reports from the Fed, and Congress has the ability to to audit the Fed through several of it's existing committees (Banking, Commerce, etc.). So, let's have Congress do it and not create a bigger bureaucracy.

[kynthful]

@BACyclone1

So you don't care about the billions of dollars that is missing? Really? People need to be informed before they try to back up a candidate that flip flops. How obvious can it be? Just admit what sounded good at one debate is not what you thought.

[BACyclone1]

@kynthful

I know Herman Cain has forgotten more about monetary policy, fiscal policy, and creating jobs than Ron Paul has ever learned. Writing a couple poor-selling books doesn't make you an expert. Herman Cain supports returning to the GOLD STANDARD. If you understood what that meant, you'd understand you have no beef with Herman Cain.

[kynthful]

@BACyclone1

You are so uninformed I find it sad. You have no idea where Ron Paul stands on any issue. You are blinded by another smooth talker.

[SuperIrishAmerican]

I can't tell you how disappointed I am in Mr. Cain's support of the Fed. Why can't it be audited like other Banks ? Why was President John Kennedy about to move against Federal Reserve when he was assassinated. Why ? What did he know that died with him ? Mr. Cain's response to this issue did not tell me anymore than I knew before. I so wanted to support Mr. Cain for President, but will not be doing so.