Regular readers are aware that I have strongly supported Ron Paul’s bill to make the Fed accountable for the billions of tax dollars they play with – but I think I’m changing my mind.
I think, instead, that I’m going to adopt a new political policy that seems to work well for many Americans. I call it the Primate Party, because it looks like this:
The first obvious requirement of membership in this party is that we’re not allowed to talk about anything done in Washington. I believe this must include the Fed, so I won’t tell you that for more than a year, the U.S. Federal Reserve System has been increasingly acting as the world’s central bank, injecting hundreds of billions of dollars into foreign government treasuries in an effort to increase liquidity in those countries. I won’t mention that we, the taxpayers, have also bailed out foreign banks indirectly by pumping billions into American Insurance Group, which announced Sunday that it had forwarded that cash to counterparties that include foreign banks such as Societe Generale, Deutsche Bank, Calyon, Credit Suisse, the Royal Bank of Scotland and Barclays.
Nope. I won’t speak of this, and I think HR 1207 should not be supported by the Primate Party.