Uh oh, the fed is getting on Chuck’s nerves, and if his movies are our point of reference, I’m betting that Chuck Norris will beat the fed into submission!
Well, one can still dream, right? But Chuck Norris offers two points of argument:
…First, it’s very existence is a sheer contradiction of the 10th Amendment of the Constitution. As Ron Paul explained last week:
Our Founding Fathers never intended for a single entity such as the Federal Reserve to have this much power. In fact, there is no authority in the Constitution for the federal government to create a central bank, to enact legal tender laws, or to print paper money. The 10th Amendment is quite clear that “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
The fact is, the Federal Reserve is one of the best examples of government control run amok and its oppression over its people. It rules by dangling carrots, cheap rates and loans, before the American public, which in turn oppresses people by their inability to resist further debt. The Fed is the dealer in greed and debt – and its drugs are easy money and credit. Under the Federal Reserve System, Americans and our economy have to return to the Federal Reserve for repeated fixes like a drug addict. Otherwise everything goes into the tank.
Secondly, the Federal Reserve is flat out bad for the economy in the long run because it creates false fronts or temporary escalations in the free market, which eventually cycle around and lead to downturns or more needs for other Fed fixes. Even if it creates several cycles of credit rushes (which it deems as “signs of prosperity”), sooner or later the false foundation crumbles, and we find ourselves in an economic hole that we or the Fed can’t bail us out of – which is exactly where we are now in this recession.
The fact is, if we can get the flow of the Federal Reserve under control, others drawing from its wells will become more manageable and accountable. Its open-market operations and dealings with central banks and foreign powers, at very least, must have oversight!
Chuck Norris for Treasury Secretary! At least he can beat the Chinese into buying more of our debt whereas Tim Geithner has to beg.
