Excuse me for not taking on blind faith the claim that we shouldn’t audit the Fed because it would be inflationary. The Fed’s *standard activity* since its inception has been inflationary, and the 2009 dollar is worth 5% of what the 1914 dollar was. The plea “Don’t audit the Fed, it will cause inflation!” is completely risible. The value of the dollar remained stable for about 150 years, and then started plummeting as soon as we allowed the Fed to dictate monetary policy.

I mean, come on, did you read that article? “When the central bank is not independent, politicians have historically pumped up the money supply (for temporary economic boost) shortly before an election to buy votes with a lower unemployment rate. After the election, the effects wear off, returning the economy to its natural rate of unemployment but at a higher inflation rate than before.”?

No kidding, really? The Fed’s been *doing exactly that*. Any claims to its ‘independence’ are completely fraudulent. It’s *already* in bed with whoever’s currently in power.

What nonsense . Read this, instead, and then blather about what a good job the Fed has done controlling inflation and being independent.

tcsdaily.com