President Obama is wrong, really wrong, about the Federal Reserve.
Wait, what? This is a publication which, as Lew Rockwell mentioned when linking to this piece, typically supports Obama. Nichols’ charge is firm, however, as he argues that “the Obama administration has taken the side of elite and irresponsible Wall Street interests, as well as Fed insiders, to oppose open discussion of what is being done behind closed doors and without congressional consent with taxpayer funds.”
Indeed, giving credit where credit is due, the piece explains the cross-partisan support for the Fed audit:
A remarkable left-right congressional coalition – which includes everyone from true-blue progressives like Florida Congressman Alan Grayson to bleed-red conservatives like Texas Congressman Ron Paul — has formed to demand an end to Fed secrecy.
In particular, members of the coalition want to force the Fed to identify banks that took trillions of dollars in secret subsidies.
This kind of left-right cooperation, which YAL has covered for a while, is more than valuable in our fight against the unjust encroachments of the state — and it’s interesting that it seems to be strongest on two of Ron Paul’s main issues: the Fed and foreign policy.
It’s no wonder he’s “highly influential;” the broad agenda of freedom he supports is popular on all sides.Published in