I think at this stage, my choice for 2012 would be DeMint/Palin. Sarah, if she plays her cards right in the mean time, will have no problem drawing crowds. Jim has proven time and again that he has the side of truth and good governance, and if he can articulate that to the crowds Sarah draws, they could be a winning combination. Of course this depends greatly on enough of America waking up and smelling the socialism, in order to defeat the incumbent.

While I’m not a believer in the Fed-is-the-root-of-all-evil school, expanding their power should come with an expansion of transparency and oversight of the quasi-governmental entity.

Ed,

They are not the root of all evil but they hold primary responsibility for easy money policies which lead to our twin bubbles. Secondary responsibility is on the congress and this audit is a part of the necessary oversight on their part.

Breaking News: He’s still dead.

Congress should
● amend the Federal Reserve Act to make long-run price stability the primary goal of monetary policy;
● recognize that the Federal Reserve cannot fine-tune the real economy but can achieve long-run price stability by its control over the monetary base (currency held by the public plus bank reserves);
● hold the Fed accountable for safeguarding the purchasing power of the dollar;
● abolish the Exchange Stabilization Fund—the Fed’s role is to stabilize the domestic price level, not to peg the foreign exchange value of the dollar; and
● repeal the tax on privately issued bank notes and allow digital currency and other substitutes for Federal Reserve notes to emerge, so that free-market forces can help shape the future of monetary institutions.

CATO is a great resource.

***

Nothing like watching the liberal overlords essentially set up mock legislative process to give the illusion that government is still working as we’ve known it. By hook or crook these people gain power…and then hang us on our own morality. It’s despicable. At this point, these people must be defeated as enemies of the state. I am so beyond reasoning with them.

Kay Hagan is my newly minted senator, too. I am going to give her a call to tell her I am watching her response as Soros-thugs, MoveOn is staging a protest to get her to sign a healthcare bill WITH the public option in it. Nice to know she is a target.

And where is the MSM on all this?

Yes, that is right; they are watching The One get history lessons from Russian leaders. Now they are just lectures, later they will be demonstrative. Like doing to one or two more states what they did to Georgia. And the sap we have as a leader doesn’t have a clue.

What did we do before the glorious, ever-benevolent Fed? You got an answer for that?

Much has been proposed. Free market banking, or at least competing currencies.

Rae on July 8, 2009 at 9:15 PM

We were on the Gold standard before. It sounds stable but I have 2 concerns.

One concern with going back to the gold standard is this: what if you don’t have gold?

Furthermore, we have 147.3 million ounces of gold at Fort Knox. Sadly, according to Reagan, we don’t own an ounce of it.

Another concern is this: what if someone corners the Gold Market?

And lastly, no major reform of the currency can come without a major reform of the banking industry (both private and public).

Upstater85 on July 8, 2009 at 11:22 PM

Worked like a charm. Thanks for doing what it appears HotAir will not do. This is not the first time I’ve asked for them to improve the site. Better mobile device (Windows Mobile) support would be a wonderful thing.

Rae on July 8, 2009 at 7:41 PM
Planning the money supply and socialist economic planning is not the same thing, it’s not the same league, it’s not even the same sport.

Socialist economic planning is about trying to get around the invisible hand of the free market. The Fed is trying to use the invisible hand of the free market.

Somebody has to control the government’s money supply.

Who should do it, if not the Fed? You got an answer for that?

apollyonbob on July 8, 2009 at 7:45 PM

What if we returned to the Gold Standard?

kerrhome on July 8, 2009 at 11:11 PM

http://www.youtube.com/watch?v=4tRQHsXujpo&eurl=http%3A%2F%2Fhotair.com%2Farchives%2F2009%2F07%2F08%2Fvideo-demint-exposes-parliamentary-hypocrisy-in-dem-controlled-senate%2F&feature=player_embedded

Also…

Why audit the Fed?

http://www.youtube.com/watch?v=soPRyeE3gvM

Upstater85 on July 8, 2009 at 7:14 PM

as an aside, “Germane” did the moonwalk as The king expressed solidarity to his fans by brainlessly attending his own funeral.

Thank you.

HotAir staff, plz consider doing better to support mobile devices like Drudge does with idrudgereport.com. Politico, Fox News and others also do a good job supporting mobile devices. Why can’t HotAir?