Rand Paul Threatens to Block Janet Yellen Nomination to Fed

Crazy libertarian obstructionism to continue

PoliticsOctober 2013 • Views: 21,715

I hope no one’s surprised that Rand Paul is now making a big push for one of the libertarian right’s cherished hopes: auditing the Federal Reserve.

And by “auditing,” they mean going on a fishing expedition to find something they can use to destroy it.

Sen. Rand Paul (R-Ky.) has threatened to block the nomination of Janet Yellen to chair the Federal Reserve, CNBC reported Friday.

Citing a source close to Paul, CNBC wrote that the Kentucky Republican “is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions.”

The bill in question, the Federal Reserve Transparency Act of 2011, would eliminate current audit restrictions placed on the Government Accountability Office and require the Fed to undergo a complete audit by a specific deadline. Similar legislation was championed in the House by Paul’s father, former GOP presidential candidate and Texas Rep. Ron Paul.

That’s right, it’s the Paul family obsession, back again in the Tea Party era. Libertarianism poisons everything.

Jump to bottom

82 comments

HappyWarrior Fri, Oct 25, 2013 10:41:51am

You knew this was coming unfortunately. Nothing outside an outright abolishing of the Fed would satisfy him.

Kragar Fri, Oct 25, 2013 10:42:16am

Audit the Fed? Whats an audit the Fed?

Its what you ought to not do when your party’s about dead.

/The Inquisition

erik_t Fri, Oct 25, 2013 10:42:21am

The writers of the Constitution were some very clever folks, and put together some very smart things, but good god the Senate is just a stupid thing.

Who on earth ever thought it would be a good idea to let one regionally (s)elected person have so much unchecked power in the federal government?

Dr. Matt Fri, Oct 25, 2013 10:43:25am

But, but, but, but he filibustered over drones! DROOOOOOONESSSZZZZ!!!!!!!!!

Kragar Fri, Oct 25, 2013 10:43:53am

Stockman: ‘Brilliant’ Ted Cruz Saved GOP

Please proceed.

HappyWarrior Fri, Oct 25, 2013 10:43:56am

re: #3 erik_t

The writers of the Constitution were some very clever folks, and put together some very smart things, but good god the Senate is just a stupid thing.

Who on earth ever thought it would be a good idea to let one regionally (s)elected person have so much unchecked power in the federal government?

I think the Founders assumed the Senate would be home to rational adults not people like Rand Paul who shouldn’t be even allowed to govern even the smallest entities.

Bulworth Fri, Oct 25, 2013 10:44:04am

Paul: I’m still relevant!!

Dr. Matt Fri, Oct 25, 2013 10:44:29am

re: #5 Kragar

Stockman: ‘Brilliant’ Ted Cruz Saved GOP

Please proceed.

HappyWarrior Fri, Oct 25, 2013 10:44:49am

re: #5 Kragar

Stockman: ‘Brilliant’ Ted Cruz Saved GOP

Please proceed.

If by “saved” he means made look even more batshit than they already are, then absolutely. If he means, made them look better to the electorate, I see that Stockman is still doing the drugs he got busted for having.

Bulworth Fri, Oct 25, 2013 10:45:32am

re: #6 HappyWarrior

Not sure the Founders thought of the filibuster or the unanimous consent agreements and other one-man power plays that can go on there.

Kragar Fri, Oct 25, 2013 10:45:41am

An easy way to have fun.

Lock Rand Paul and Glenn Greenwald in a room with only one mirror.

Kick back with the popcorn.

HappyWarrior Fri, Oct 25, 2013 10:47:19am

re: #10 Bulworth

Not sure the Founders thought of the filibuster or the unanimous consent agreements and other one-man power plays that can go on there.

I don’t think so either. And that precisely is why I don’t deify them. They were visionaries to be sure but I don’t put them up on pedestals either.

Dancing along the light of day Fri, Oct 25, 2013 10:48:14am

re: #11 Kragar

An easy way to have fun.

Lock Rand Paul and Glenn Greenwald in a room with only one mirror.

Kick back with the popcorn.

CAGE MATCH!

danarchy Fri, Oct 25, 2013 10:48:26am

re: #3 erik_t

The writers of the Constitution were some very clever folks, and put together some very smart things, but good god the Senate is just a stupid thing.

Who on earth ever thought it would be a good idea to let one regionally (s)elected person have so much unchecked power in the federal government?

I think that has more to do with Senate rules than anything in the actual constitution.

Kragar Fri, Oct 25, 2013 10:49:42am

Daubenmire: Not Allowing Christians to Bully Gays Is a Form of Bullying Against Christians

ObserverArt Fri, Oct 25, 2013 10:53:15am

re: #15 Kragar

Daubenmire: Not Allowing Christians to Bully Gays Is a Form of Bullying Against Christians

What he is saying is let me be the Christian asshole I always was and still want to be.

Dave, I’d love for Jesus to come back just so he can kick you in the balls.

Kragar Fri, Oct 25, 2013 10:53:51am

NC GOPer Who Resigned Over Racist Remark Says Party Is ‘Gutless’ (AUDIO)

Your Teahadi stock is rising, Mr. Yelton.
/

klys Fri, Oct 25, 2013 10:54:30am

There is a tsunami advisory in place for the Tohoku region, but it’s worth noting that’s a tsunami of 0.2 to 1 m.

Probably the greatest concern for the international community is the state of the reactors, and how the temporary holding tanks for the radioactive water have come through.

jayjaybear Fri, Oct 25, 2013 10:54:52am

Yeah, to be fair to the Founders, the major problems with the Senate (filibuster/procedural filibuster/secret holds) come from the Senate rules, which are not in the Constitution.

piratedan Fri, Oct 25, 2013 10:55:47am

so now we have the political equivalent of ‘Hey Bubba, Watch This” about to manifest itself as one GOP dickweed attempts to outjackass his contemporaries…. good times, I’m sure that the MSM will treat this with all the dignity it can muster, as in not much. Jim, how well stocked are we for fainting couches?

The Mountain That Blogs Fri, Oct 25, 2013 10:57:04am

re: #18 klys

The typhoon like, a week ago was a bigger deal than this. Slower news day I suppose.

ausador Fri, Oct 25, 2013 10:57:18am

The Fed is already strictly audited and has to account for every penny under their control. This isn’t about auditing the Fed at all, it is about getting the audit information released to a third party under the jurisdiction of FOIA rules so that all the confidential information would become part of the public record.

Including the daily balance sheets of every financial institution in the country that ever received an overnight prime rate liquidity loan from the Fed.

Ian G. Fri, Oct 25, 2013 11:00:55am

Does this surprise anyone? Paul won’t be satisfied with any fed chairperson, because he thinks the institution should be abolished and we should go back to using clamshells as currency. He’s a blithering idiot who would probably be selling used cars if he hadn’t won the sperm lottery.

klys Fri, Oct 25, 2013 11:01:03am

re: #21 The Mountain That Blogs

The typhoon like, a week ago was a bigger deal than this. Slower news day I suppose.

The typhoon didn’t produce a direct comparison to the earthquake/tsunami and radioactive fallout of 2 years ago, so nobody outside of Japan cared.

/sad but true.

Seriously, I’ve been watching folks on Twitter freak out. No, the time for freaking out was when you watched the live footage 2 years ago. This will likely have a smaller death toll than the typhoon (killed 27, another 22 still missing on one island).

b.d. Fri, Oct 25, 2013 11:01:09am

BUY GOLD!!

Ian G. Fri, Oct 25, 2013 11:02:20am

re: #22 ausador

Including the daily balance sheets of every financial institution in the country that ever received an overnight prime rate liquidity loan from the Fed.

From that noted advocate of “privacy”, Rand Paul.

Paul, of course, is too stupid to recognize the irony. Just as his “libertarian” philosophy has no issue with an entire class of people being denied basic liberties because of skin color.

Kragar Fri, Oct 25, 2013 11:05:09am

Associate CDC Director: We’ve reached ‘the end of antibiotics, period’ http://t.co/8zsgEyvHd9
— Kragar (@Kragar_LGF) October 25, 2013

BusyMonster Fri, Oct 25, 2013 11:07:50am

re: #26 Ian G.

From that noted advocate of “privacy”, Rand Paul.

Paul, of course, is too stupid to recognize the irony. Just as his “libertarian” philosophy has no issue with an entire class of people being denied basic liberties because of skin color.

I’ve found the libertarian movement tends to attract people of low intellectual capability. The Pauls certainly are a couple of fucking dim bulbs and prove it on a near-daily basis.

wrenchwench Fri, Oct 25, 2013 11:08:44am

re: #22 ausador

The Fed is already strictly audited and has to account for every penny under their control. This isn’t about auditing the Fed at all, it is about getting the audit information released to a third party under the jurisdiction of FOIA rules so that all the confidential information would become part of the public record.

Including the daily balance sheets of every financial institution in the country that ever received an overnight prime rate liquidity loan from the Fed.

Exactly.

The Fed is deliberately NOT transparent to congress so they’ll keep their goddamned hands off of it. It’s designed to keep people like Rand Paul from fucking up the monetary system the way he wants to.

HappyWarrior Fri, Oct 25, 2013 11:12:31am

re: #28 BusyMonster

I’ve found the libertarian movement tends to attract people of low intellectual capability. The Pauls certainly are a couple of fucking dim bulbs and prove it on a near-daily basis.

There are some who are dim bulbs and know it but the problem with the Pauls is they act like only they understand the economy and how dare you for questioning anything that comes from Von Mises or questions their Guilded Age fantasy economy.

S'latch Fri, Oct 25, 2013 11:13:27am

Rand Paul must have been thoroughly indoctrinated by his father. He even looks deranged, humorless, and angry. Do the voters of his state really think he is doing a good job for them? I can’t imagine.

Ian G. Fri, Oct 25, 2013 11:14:04am

re: #27 Kragar

Brought to you by that old bugaboo, evolution, whether you believe in it or not.

BTW, my “intelligent design”-advocating wingnut uncle has admitted that bacteria and viruses evolve. But complex organisms do not because shut up, that’s why.

Ian G. Fri, Oct 25, 2013 11:14:33am

re: #30 HappyWarrior

There are some who are dim bulbs and know it but the problem with the Pauls is they act like only they understand the economy and how dare you for questioning anything that comes from Von Mises or questions their Guilded Age fantasy economy.

Meet the Dunning-Kruger effect. It describes the Pauls perfectly.

dog philosopher Fri, Oct 25, 2013 11:14:55am

jonah goldberg, moron

Under the law, they must offer insurance to anyone who needs it — often at an artificially low price at that. The only way they can make a profit is if the government upholds its promise to get millions of young, healthy people to sign up for more expensive insurance than they need. Take away the mandate — i.e., the penalty — and you make that virtually impossible. If the government tells insurance companies they still have to provide insurance to bad risks, it will be like the government telling Apple it has to sell iPhones at a loss. The insurance companies will sue

i leave it to the lizard readership as an exercise to locate all the incorrect conclusions/lies in this one little paragraph

dog philosopher Fri, Oct 25, 2013 11:19:58am

yanno i have absolutely no idea what teh rand has against the fed

was it founded by masons or something?

GeneJockey Fri, Oct 25, 2013 11:21:52am

re: #34 dog philosopher

jonah goldberg, moron

Under the law, they must offer insurance to anyone who needs it — often at an artificially low price at that. The only way they can make a profit is if the government upholds its promise to get millions of young, healthy people to sign up for more expensive insurance than they need. Take away the mandate — i.e., the penalty — and you make that virtually impossible. If the government tells insurance companies they still have to provide insurance to bad risks, it will be like the government telling Apple it has to sell iPhones at a loss. The insurance companies will sue

i leave it to the lizard readership as an exercise to locate all the incorrect conclusions/lies in this one little paragraph

You know, I haven’t needed my car insurance since that accident back in 1988, nor have I needed my homeowner’s insurance since we bought the house in 1996. Clearly, I should just go without.

What’s the worst that could happen?
//

wrenchwench Fri, Oct 25, 2013 11:22:59am

re: #35 dog philosopher

yanno i have absolutely no idea what teh rand has against the fed

was it founded by masons or something?

Keeps the dudebros from ~~printing~~ minting their own monies. If only the Fed can print the monies, we will soon all die of inflation.

lawhawk Fri, Oct 25, 2013 11:23:18am

re: #2 Kragar

Audit the Fed? Whats an audit the Fed?

Its what you ought to not do when your party’s about dead.

/The Inquisition

Brilliant!!!!

GeneJockey Fri, Oct 25, 2013 11:23:19am

re: #35 dog philosopher

yanno i have absolutely no idea what teh rand has against the fed

was it founded by masons or something?

Our monetary standard should be GOLD!!!!! GOLD, I TELL ‘EE!!! GOOOOLLLDDD!!!

dog philosopher Fri, Oct 25, 2013 11:23:46am

re: #33 Ian G.

Meet the Dunning-Kruger effect. It describes the Pauls perfectly.

reading my reference blog for moronic right wing opinions, i find that not only jonah goldberg, but also michelle malkin and of course charles krauthammer are the go-to experts on health insurance policy, government mandates in regard to information systems in the medical industry and their interaction with physician effectiveness, and the economics of actuarial based profit making enterprises

the blogger had to explain what the incoherent quote from malkin was supposed to mean

GeneJockey Fri, Oct 25, 2013 11:26:00am

re: #37 wrenchwench

Keeps the dudebros from ~~printing~~ minting their own monies. If only the Fed can print the monies, we will soon all die of inflation.

“I don’t care if my prediction of hyperinflation just around the corner has been wrong for FIVE STRAIGHT YEARS, hyperinflation is just around the corner!!!!! It MUST BE, because I can’t understand how it couldn’t be!”

Brought to you by Argument From Personal Incredulity, the Wingnut’s Favorite Fallacy.

dog philosopher Fri, Oct 25, 2013 11:26:04am

re: #37 wrenchwench

Keeps the dudebros from ~~printing~~ minting their own monies. If only the Fed can print the monies, we will soon all die of inflation.

the looming threat of massive inflation has definitely caused a massive increase in pop up ads advising buying gold before the economy collapses six months from now because of the looming threat of massive inflation

GlutenFreeJesus Fri, Oct 25, 2013 11:26:12am

The Pauls can begin their quest for a smaller government by resigning. Gotta start somewhere. Might as well be the bottom.

ausador Fri, Oct 25, 2013 11:26:37am

Too many people just don’t get what the Fed does, the vast majority of the time it simply keeps the banks operating smoothly.

Example:
You own a bank, one of your large corporate customers writes a check to pay $100 million to buy a factory, now you have to transfer $100 million to another bank.

The problem is that you don’t have $100 million sitting around in petty cash, it is invested in loans, in stocks, in bonds, in mutual funds, etc..

So you ask the Fed for a short-term liquidity loan at prime rate to cover the $100 million until you can cover it through a combination of new deposits and liquidating assets (usually called “overnight” loans).

The Fed covers your $100 million for you and in a day or two you pay them back with minimal interest.
———————————————————————————————-

The vast majority of what the Fed does day to day is exactly that, it greases the wheels and allows the banks and other financial institutions to operate smoothly. But just like applying for any other loan the borrower has to provide all their current financial data to the person loaning them the money. How much in deposits, how much in assets, how much on loan, how much in default, etc, etc…

This entire ridiculous “audit the Fed” dance is simply meant to make all of this privileged and confidential information a part of the public record. The only ones who would benefit from that would be the monolithic big banks with giant cash reserves. Everyone else would end up looking “risky on paper” when compared to them. :(

“Libertarian?” Not fucking hardly…

ericblair Fri, Oct 25, 2013 11:28:28am

re: #39 GeneJockey

Our monetary standard should be GOLD!!!!! GOLD, I TELL ‘EE!!! GOOOOLLLDDD!!!

Damn straight. We need our economy to be based on how much yellow shiny stuff a bunch of South Africans, Russians, and Canadians can grub out of the ground on a daily basis.

But gold has Inherent Value, you see. So you can just take one of these libertarian types, and dump him naked in a rainforest with $100K worth of Maple Leafs and he’ll be just fine.

lawhawk Fri, Oct 25, 2013 11:28:48am

re: #24 klys

Unless there’s a tsunami that hits Fukushima again, or the quake damages the storage tanks where TEPCO is storing contaminated water, the site is most affected by rainfall - water getting into the reactor sites and becoming contaminated to the point that it has to be siphoned off and treated before being stored indefinitely. The inability to contain water flow through the site is contributing to higher radioactivity readings in offshore waters - radionucleotides being carried by subsurface water or washing out into the sea.

TEPCO has a plan to try and create a barrier by freezing the ground to keep water from flowing through the site, but as with everything else TEPCO has touched, I doubt it’s going to happen, happen safely, or happen soon.

As it is, there’s all kinds of issues with the workers that TEPCO is hiring to work at the site, including using shady subcontractors who have no experience in the nuclear industry and bringing in workers with even less experience and putting them into hazardous situations with little to no guidance.

Heck, they’re not doing any better than the Russians did by the Liquidators at Chernobyl. Lax oversight and the Japanese government allowing the situation to continue without laying down the law all harms the region and those affected by the crisis.

kirkspencer Fri, Oct 25, 2013 11:30:17am

re: #35 dog philosopher

yanno i have absolutely no idea what teh rand has against the fed

was it founded by masons or something?

For the full answer find a copy of The Creature from Jekyll Island by G. Edward Griffin. Fair warning in advance: it’s yet another Founding Guide for the Tea Party. On the other hand reading it lets you spot a LOT of code words and intentions - and it’s more readable than any of Rand’s books.

Short answer: They believe the fed was created as a secret conspiracy of multimillionaires and government elites to keep the citizenry in fiscal slavery through constant debt, enabled through the use of fiat money. The founding was really done at a meeting on Jekyll Island in 1910.

Shorter answer: because they blame the fed for not being on the gold standard.

Shortest answer: Gubmint is eeevil.

Dark_Falcon Fri, Oct 25, 2013 11:31:43am

re: #44 ausador

Too many people just don’t get what the Fed does, the vast majority of time it simply keeps the banks operating smoothly.

Example:
You own a bank, one of your large corporate customers writes a check to pay $100 million to buy a factory, now you have to transfer $100 million to another bank.

The problem is that you don’t have $100 million sitting around in petty cash, it is invested in loans, in stocks, in bonds, in mutual funds, etc..

So you ask the Fed for a short-term liquidity loan at prime rate to cover the $100 million until you can cover it through a combination of new deposits and liquidating assets (usually called “overnight” loans).

The Fed covers your $100 million for you and in a day or two you pay them back with minimal interest.
———————————————————————————————-

The vast majority of what the Fed does day to day is exactly that, it greases the wheels and allows the banks and other financial institutions to operate smoothly. But just like applying for any other loan the borrower has to provide all their current financial data to the person loaning them the money. How much in deposits, how much in assets, how much on loan, how much in default, etc, etc…

This entire ridiculous “audit the Fed” dance is simply meant to make all of this privileged and confidential information a part of the public record. The only ones who would benefit from that would be the monolithic big banks with giant cash reserves. Everyone would end up looking “risky on paper” when compared to them. :(

“Libertarian?” not fucking hardly…

All true. So how would you suggest educating the public about those facts?

Dark_Falcon Fri, Oct 25, 2013 11:33:21am

re: #47 kirkspencer

For the full answer find a copy of The Creature from Jekyll Island by G. Edward Griffin. Fair warning in advance: it’s yet another Founding Guide for the Tea Party. On the other hand reading it lets you spot a LOT of code words and intentions - and it’s more readable than any of Rand’s books.

Short answer: They believe the fed was created as a secret conspiracy of multimillionaires and government elites to keep the citizenry in fiscal slavery through constant debt, enabled through the use of fiat money. The founding was really done at a meeting on Jekyll Island in 1910.

Shorter answer: because they blame the fed for not being on the gold standard.

Shortest answer: Gubmint is eeevil.

So fiat money was the mental creation of Mr. Hyde?

///

Absalom, Absalom, Obdicut Fri, Oct 25, 2013 11:33:54am

re: #48 Dark_Falcon

All true. So how would you suggest educating the public about those facts?

For one thing, the GOP has to stop constantly lying about them.

It’d be nice if the GOP stopped lying about science, race, and the other issues it lies to the American public routinely about, too.

First As Tragedy, Then As Farce Fri, Oct 25, 2013 11:34:51am

re: #50 Absalom, Absalom, Obdicut

You don’t ask for much, do you.

calochortus Fri, Oct 25, 2013 11:37:38am

re: #47 kirkspencer

The chicken should be our basic unit of currency!

Kragar Fri, Oct 25, 2013 11:38:12am

re: #52 calochortus

The chicken should be our basic unit of currency!

I’m banking on a gold tooth currency.

Dark_Falcon Fri, Oct 25, 2013 11:38:32am

re: #50 Absalom, Absalom, Obdicut

Assume that some notable politicians will always lie about and distort the functions of various federal government agencies to further their own careers. Accepting that as a largely permanent state of affairs, how do you counter that BS with the truth?

jvic Fri, Oct 25, 2013 11:38:37am

re: #30 HappyWarrior

…Guilded Age fantasy economy.

Freudian slip?

This is a good characterization of today’s capture of government by special interests.

Dr Lizardo Fri, Oct 25, 2013 11:39:02am

re: #21 The Mountain That Blogs

The typhoon like, a week ago was a bigger deal than this. Slower news day I suppose.

Yes, but let’s also hope that this doesn’t play out like a repeat of the Tohoku quake, which was preceded by a 7 and a 6 magnitude foreshocks a couple of days before the main jolt.

erik_t Fri, Oct 25, 2013 11:39:22am

re: #54 Dark_Falcon

Assume that some notable politicians will always lie about and distort the functions of various federal government agencies to further their own careers. Accepting that as a largely permanent state of affairs, how do you counter that BS with the truth?

“Some notable” = “basically all of mine, and mostly none of yours”

Come on, man. MBF harder.

ObserverArt Fri, Oct 25, 2013 11:39:25am

re: #50 Absalom, Absalom, Obdicut

For one thing, the GOP has to stop constantly lying about them.

It’d be nice if the GOP stopped lying about science, race, and the other issues it lies to the American public routinely about, too.

Damn, that is the whole bag of tricks.

No can do. They wouldn’t know how to act.

kerFuFFler Fri, Oct 25, 2013 11:41:31am

re: #44 ausador

Too many people just don’t get what the Fed does, the vast majority of time it simply keeps the banks operating smoothly.

Thanks for the straightforward explanation and example! It is disturbing the way the Fed is often portrayed as some shadowy, intrusive behemoth magically printing money for Soros or whatever.

Absalom, Absalom, Obdicut Fri, Oct 25, 2013 11:41:59am

re: #54 Dark_Falcon

Assume that some notable politicians will always lie about and distort the functions of various federal government agencies to further their own careers.

That’s not what I’m talking about. I’m talking about constant, abject lying, lying about facts, lying about purpose, lying about people. This isn’t a mild distortion, this isn’t a positioning, this is straight-up lying of the most reprehensible fashion, and pretending it’s just ‘some notable politicians’ in the GOP is foolish. As the shutdown showed us, even the ‘moderate’, ‘intelligent’ members of the GOP like Mark Kirk will lie shamelessly, foolishly, and to the detriment of the American people.

Accepting that as a largely permanent state of affairs, how do you counter that BS with the truth?

I don’t accept that as a largely permanent state of affairs. I don’t think that the GOP insistence that the Fed is not, as it really is, already audited is permanent. I don’t think the GOP insistence that global warming isn’t really happening/is actually good for is is permanent. I don’t think the GOP insistence that evolution is just a theory is permanent.

This is stupid-ass magical balance fairy bullshit and I have no idea why you think I’d just accept it.

Justanotherhuman Fri, Oct 25, 2013 11:42:26am

Stop being so “nice” to assholes, Dems.

Yes, let’s keep it civil, but kick ass at the same time. These types need to be stopped before they destroy the country so many of us want to survive.

kerFuFFler Fri, Oct 25, 2013 11:43:31am

re: #52 calochortus

The chicken should be our basic unit of currency!

Hey, I’m somewhat in favor of edible (chocolate?) pennies so we would not end up with jars full of the blasted things….

klys Fri, Oct 25, 2013 11:43:32am

re: #56 Dr Lizardo

Yes, but let’s also hope that this doesn’t play out like a repeat of the Tohoku quake, which was preceded by a 7 and a 6 magnitude foreshocks a couple of days before the main jolt.

There are reasons to consider this relatively unlikely, although in science you can’t say anything is impossible, of course.

ObserverArt Fri, Oct 25, 2013 11:44:16am

re: #57 erik_t

“Some notable” = “basically all of yours, and mostly none on the other side”

Come on, man. MBF harder.

I think it is the only way he can excuse the Republican’s recent behaviors is to tell himself everyone does it.

I think cynicism can be healthy and protective at times, but it should never mask reality, especially when the reality is itself extremely cynical.

Absalom, Absalom, Obdicut Fri, Oct 25, 2013 11:46:06am

re: #54 Dark_Falcon

To put it another way: The best guard against politicians lying like stupid assholes about material reality, like Mark Kirk lying about Obama being afraid of people experiencing Obamacare, is to ridicule them, to ask their supporters how they can justify such stupid, reprehensible, anti-American behavior, and to not ever let it drop.

calochortus Fri, Oct 25, 2013 11:47:24am

re: #62 kerFuFFler

Chocolate would be a bad medium of exchange in warmer weather.

ObserverArt Fri, Oct 25, 2013 11:49:22am

re: #66 calochortus

Chocolate would be a bad medium of exchange in warmer weather.

They always speak of your money being liquid. Just measure by liquid ounce instead of weight ounce.

; )

calochortus Fri, Oct 25, 2013 11:53:34am

re: #67 ObserverArt

Might work for women who carry it in a purse, but do you really want a couple ounces of liquid chocolate in your pocket?

Jack Burton Fri, Oct 25, 2013 11:58:21am

re: #47 kirkspencer

For the full answer find a copy of The Creature from Jekyll Island by G. Edward Griffin. Fair warning in advance: it’s yet another Founding Guide for the Tea Party. On the other hand reading it lets you spot a LOT of code words and intentions - and it’s more readable than any of Rand’s books.

Short answer: They believe the fed was created as a secret conspiracy of multimillionaires and government elites to keep the citizenry in fiscal slavery through constant debt, enabled through the use of fiat money. The founding was really done at a meeting on Jekyll Island in 1910.

Shorter answer: because they blame the fed for not being on the gold standard.

Shortest answer: Gubmint is eeevil.

And when you inform these supergeniuses that the plan that was developed at the Jekyll Island meeting was rejected by Congress, and the Federal Reserve Act is not based on it at all, it doesn’t change their thinking at all and you are just one of the sheeple. They have to be right, just… because fuck you that why.

They live in a fact-optional world.

ausador Fri, Oct 25, 2013 11:59:47am

re: #66 calochortus

Chocolate would be a bad medium of exchange in warmer weather.

Would never work in Florida…

“Well I did have the money to pay you back, but now all I have is a pocket full of goo, sorry about that.” ;)

Blue Fielder Fri, Oct 25, 2013 11:59:53am

re: #68 calochortus

Might work for women who carry it in a purse, but do you really want a couple ounces of liquid chocolate in your pocket?

Hey, it’d be a great icebreaker: “Is that some chocolate in your pocket or…”

…you know maybe it’s not that great an idea after all.

wrenchwench Fri, Oct 25, 2013 12:05:10pm

re: #71 Blue Fielder

Welcome, hatchling.

ObserverArt Fri, Oct 25, 2013 12:07:15pm

re: #68 calochortus

Might work for women who carry it in a purse, but do you really want a couple ounces of liquid chocolate in your pocket?

Debit cards.

The bank keeps the chocolate refrigerated and then moves it around in our accounts. You can always withdraw some when needed.

wrenchwench Fri, Oct 25, 2013 12:16:20pm

re: #47 kirkspencer

For the full answer find a copy of The Creature from Jekyll Island by G. Edward Griffin. Fair warning in advance: it’s yet another Founding Guide for the Tea Party. On the other hand reading it lets you spot a LOT of code words and intentions - and it’s more readable than any of Rand’s books.

Short answer: They believe the fed was created as a secret conspiracy of multimillionaires and government elites to keep the citizenry in fiscal slavery through constant debt, enabled through the use of fiat money. The founding was really done at a meeting on Jekyll Island in 1910.

Shorter answer: because they blame the fed for not being on the gold standard.

Shortest answer: Gubmint is eeevil.

I didn’t finish that book, but I got far enough to see the Bilderbergs get the blame. The author hangs with some very distasteful creeps. I think he is one, as well.

jvic Fri, Oct 25, 2013 12:24:57pm

re: #55 jvic

re: #30 HappyWarrior

…Guilded Age fantasy economy.

Freudian slip?

This is a good characterization of today’s capture of government by special interests.

For that matter, a term seems needed that describes today’s polarization-induced political paralysis.

Polarysis?

Ming Fri, Oct 25, 2013 12:27:21pm

In recent years, the GOP has steadily removed funds from the economy. The number of state and federal government employees has declined. There’s also the sequester, the January 2013 restoration of full levels of Social Security taxes, and of course the recent shutdown. Golly, you’d almost think the GOP was trying to make the economy look bad.

Through all this, the Federal Reserve has aggressively injected funds into the economy (their “quantitative easing”, or buying of bonds). This has kept the economy going.

I have no doubt that the Federal Reserve has plans for whatever roadblocks the Republicans may throw at the economy. Does anyone really doubt that the Federal Reserve has plans for January 15, 2014, a critical date for the next possible GOP government shutdown?

So it’s no surprise some Republicans are so focused on the Federal Reserve. They want Congress to control what the Fed does now. Wow. Think about the possible implications for the economy, if the Fed had to get approval from Congressional Republicans before injecting funds into the economy.

EPR-radar Fri, Oct 25, 2013 12:28:47pm

re: #76 Ming

Good points. The GOP doesn’t want the Fed to interfere with their sabotage operations.

wrenchwench Fri, Oct 25, 2013 12:29:57pm

re: #75 jvic

I just noticed this:

Recovering libertarian and disheartened conservative.

Good to see. I hope the recovery continues pleasantly for you. Don’t be too disheartened.

EPR-radar Fri, Oct 25, 2013 12:49:45pm

re: #54 Dark_Falcon

Assume that some notable politicians will always lie about and distort the functions of various federal government agencies to further their own careers. Accepting that as a largely permanent state of affairs, how do you counter that BS with the truth?

I recommend you focus on the more substantive part of Obdi’s question.

The GOP feels it is necessary to lie about reality continually on nearly every occasion. This goes far beyond normal political disagreements relating to differing opinions. A tiny list of examples follows:

1) Creationism/ID

2) If the debt ceiling is not raised, default would be a deliberate choice by Obama.

3) AGW denial.

4) The incredible number and amount of lies they tell about women’s health issues to drive their agenda.

Any one of these whoppers would be enough to get one committed as delusional, except that they are pushed by a major political party.

The GOP’s problem with lies is all of these together plus many more. There is simply no way on earth to equate this to two sides each spinning (or even lying about) a common reality to best suit their positions.

jvic Fri, Oct 25, 2013 1:01:16pm

re: #78 wrenchwench

1. Thanks, wrench. Although I often see it differently, I’ve always respected that you tell it like you see it.

2. Gawdhelpus if libertarians get to govern, I’ve concluded. I continue to believe that they have a potentially useful role in pointing out naked emperors, and elephants in rooms.

3. I don’t expect to shift to the other end of the political spectrum. My attitude is evolving toward what Ben Franklin expressed to the Constitutional Convention (as recorded by James Madison):

…I have experienced many Instances of being oblig’d, by better Information or fuller Consideration, to change Opinions even on important Subjects, which I once thought right, but found to be otherwise. It is therefore that the older I grow the more apt I am to doubt my own Judgment, and to pay more Respect to the Judgment of others. Most Men indeed as well as most Sects in Religion, think themselves in Possession of all Truth, and that wherever others differ from them it is so far Error.

…I think a General Government necessary for us, and there is no Form of Government but what may be a Blessing to the People if well administered; and I believe farther that this is likely to be well administered for a Course of Years, and can only end in Despotism as other Forms have done before it, when the People shall become so corrupted as to need Despotic Government, being incapable of any other.

Boldface mine. I could have ended the quote with the boldface, but I chose to include the warning (prophecy?) that followed.

missliberties Fri, Oct 25, 2013 1:05:47pm

It’s a part of their ideology to destroy the money. Seriously. It’s in their true beliefs bible.

I wish Larry Summers would have been the appointed to the Fed Reserve, frankly.

He’s brilliant and he gets it. It would have been a joyous occasion to watch Larry swat the baggers in a hearing.

Absalom, Absalom, Obdicut Fri, Oct 25, 2013 1:14:08pm

re: #79 EPR-radar

I’d say the only lie on the Democratic side that approaches any of those is that marijuana is a dangerously harmful drug, but that, at least, is softening for the Democrats and saying you disagree with that does not get you ousted.

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