Trump Calls For Auditing The Federal Reserve

Donald Trump just tweeted out the holy grail of Libertarian proclamations: “It’s so important to audit The Federal Reserve.”  The GOP frontrunner said it was important to audit the Fed and even called out his rival, Sen. Ted Cruz, for skipping a vote on Sen. Rand Paul’s “Audit the Fed” proposal back in Jan.  “It is so important to audit the Federal Reserve, and yet Ted Cruz missed the vote on the bill that would allow this to be done,” Trump tweeted out.  [1] When one of our major politicians gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct. Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama. [7] During Friday’s appearance on the Alex Jones Show, Trump insider Roger Stone was asked if Trump would call for an audit, and Stone said that he thought so but would pass the message along to the Trump campaign.  “He’s not a big fan of the Fed,” Stone pointed out. “He is scaring the central bankers; he is scaring the Washington/Wall Street/D.C. consultant/lobbyist class.”  “He’s deeply suspicious of the Fed and I think he is open-minded about the Fed… I’d suspect you’d get an audit of the Fed [with Trump].” [1] Stone himself is a relatively hardcore kinda guy. Last year, he dedicated his book “The Clintons’ War on Women” to author Victor Thorn, who has blamed Jews for 9/11 in a book called “9/11: Made in Israel,” and wrote a Holocaust denial book entitled “The Holocaust Hoax Exposed: Debunking The 20th Century’s Greatest Fabrication.” [2]

Cruz missed a vote on legislation in the Senate that reportedly would have audited the Federal Reserve, as the Guardian noted, as did former Rep. Ron Paul to campaign for his son Rand Paul. Paul referenced Cruz’s missed vote, previously telling Iowans, “That’s not the type of leadership we need in the White House. Ben Jacobs, a reporter for the British newspaper The Guardian, reported Cruz has attempted to gather support from libertarian minded Republicans. “However, by skipping the vote on auditing the Fed, Cruz risks jeopardizing some of the credibility he has built in [the libertarian] faction of the Republican party. Auditing the Federal Reserve has long been an animating cause of Paul and his supporters and it has taken on major symbolic significance,” Jacobs wrote. [3] Users on Libertarian discussion boards, however, bashed Trump as opportunistic, rolling out quotes over his past support for the federal bailout of the financial and auto industries in 2008, and his opposition in 2012 to Ron Paul, Rand Paul’s father, as reason not to trust his recent change of heart, a Vocativ social media analysis found. [6]

It now appears Trumps wants to do just that by calling for greater transparency on monetary policy-making from the Fed, which is sorely needed due to the central bank’s ability to create bubbles and usher in depressions through endless money creation known as “quantitative easing” that only leads to mass inflation and the ultimate destruction of the dollar.  In other words, while Bernie Sanders complains about the “rich” destroying the economy, it’s actually the Federal Reserve and Trump is targeting the Fed.  “While I would agree wholeheartedly that the US economy is in serious trouble, it is not because of the ‘greed’ of billionaires,” said Dr. Bill Anderson, an Austrian economist and Mises Institute scholar. “It is because the US government, through the Federal Reserve System, has created what [former Reagan economist] David Stockman has called the ‘casino economy’ that has substituted trading of sovereign debt and monetary manipulation for a real economy with interest rates that reflect actual economic fundamentals.”  A rollback of the Fed’s power has yet to be done successfully despite valiant attempts by both Sen. Paul and his father Ron Paul.  And Trump is doing something Bernie Sanders won’t do, despite the socialist claiming he’s against the banks; back in 2010, Sanders killed then-Rep. Ron Paul’s “Audit the Fed” bill.  “Bernie Sanders has sold out and sided with [Sen.] Chris Dodd to gut Audit the Fed in the Senate. His ‘compromise’ is what the administration and banking interests want,” Ron Paul wrote on Facebook not long afterwards.  Sanders finally voted “yes” on Sen. Paul’s more recent “Audit the Fed” proposal, but likely only because he was under more scrutiny than before.  As for Ted Cruz, his known ties to Goldman Sachs reveal why he skipped the latest “Audit the Fed” vote.  “You take a guy like Cruz, people are liking the Cruz — they think he’s for the free market, and [in reality] he’s owned by Goldman Sachs,” Ron Paul said of the Texas senator on Fox Business’ Varney & Company. “I mean, he and Hillary have more in common than we would have with Cruz and Trump or any of them so I just don’t think there is much picking.” [1]