Here is a video of something that I thought I would never see. All five Republican candidates for the U.S. Senate in Texas have come out in favor of a government audit the Federal Reserve System.
That someone in the audience even asked the question would have been unthinkable four years ago.
Ron Paul is the reason. Dr. Bernanke cannot get Paul’s anti-FED message to go away. On the contrary, the skepticism is increasing. Dr. Bernanke has blown smoke as no FED chairman ever has. Paul’s presence in front of the media and on the Internet has made it clear to millions of Americans that Bernanke is a smoke-blower.
Auditing the Federal Reserve System was a non-starter politically from 1914 until 2008. It will not be a non-starter ever again. The FED is in damage-control mode. It will be in this mode from now on.
The old strategy, from 1910 on, was to conceal the FED from the public. The organizers thought that it would be too arcane for voters to notice. This strategy worked until 2008. It will not work any longer.
Millions of voters are figuring it out. The gold standard was more reliable than Bernanke is.