The View From 1776
Wednesday, September 21, 2011
Today’s Liberal-Progressive Hypocrisy
Liberal-progressives are distressed by the Senate and House Republican leadership’s “unprecedented” sending a letter to the Fed Board requesting that the Fed not pursue a new monetary round of debasing the dollar with excess fiat money creation.
This on the heels of Congressman Barney Frank’s recent demand that the law be changed to prevent more conservative regional Federal Reserve banks’ officials from participating in the Federal Open Market Committee (FOMC). The FOMC is the body that determines the Fed’s monetary policy. Congressman Frank stated that the presence of their dissenting votes has become a “significant constraint” on the Fed’s freedom [to continue debasing the dollar]. In the liberal-progressive lexicon, any discussion or questioning of socialistic policies can only be characterized as vicious obstruction.
The Republican leadership’s letter should probably be seen as no more than a counter to Congressman Frank’s attack, but the so-called mainstream media are color blind to anything other than socialist red.