No Faith in the Fed

From an article in today’s Post

After his speech, Bernanke was asked when he expected the economy would recover.

“My forecasting record is about the same as the win-loss record of the Washington Nationals,” he said.

In four years in Washington, the Team Formerly Known As The Expos have a record of 284-363, only in the first season in our nation’s capital even reaching the .500 mark. Exactly .500. I suppose that hearing a member of the Leviathan admit to being an idiot, rather than denying an incontrovertible truth, is somewhat refreshing, but that we continue to permit someone with such an abysmal ability to predict things that, seemingly, are within his realm of expertise, particularly when these are such vital issues, is bafflingly sad.

End the Fed. It’s little more than another bastion of centralization, anyway.

We should recall, too, that the Constitution only explicitly provides for the coining of money by Congress; no provision for exists permitting the Federal government to printmoney. I have no interest in advocating the return to the gold or silver standard; however, our Founding Fathers certainly seem to have recognized the need to tie our money to something sounder than the word of the government. I’m just sayin’.

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