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The BIG Issue if the GOP Takes the Senate
Most Americans are viewing the midterm elections through the prism of social issues (Gay Marriage, Abortion, Discrimination, etc.)
These issues, regardless of the intense emotions surrounding them, directly affect a relatively small percentage of the US population.
The bigger issue for the US is how a GOP Senate would impact the Federal Reserve.
The Fed runs the US economy. Every American who eats food or uses energy or has a US Dollar in their bank account is directly affected by the Fed’s actions.
The current Fed is run by the very liberal Janet Yellen, who believes firmly in wealth redistribution. Yellen proudly considers herself and her policies to be liberal.
However, the Yellen Fed may soon be facing increased scrutiny and oversight.
In July of 2014, two GOP Congressmen introduced a bill that would require the Federal Reserve to follow the Taylor Rule regarding interest rates. While the details of this rule are not worth delving into at this time, the key ideas are that:
1) Interest rate policy would no longer be subject to the whims of Fed officials.
2) The Fed and its policies would be regulated by Congress for the first time in history.
In September, just two months later, the GOP-controlled House passed an “Audit the Fed” bill.
The House on Wednesday passed legislation to audit the Federal Reserve System.
Passed 333-92, the bill would require the comptroller general to conduct an audit of the Federal Reserve's board of governors and banks within one year and submit a report to Congress on the findings. A total of 106 Democrats joined all but one Republican in support of the measure.
A version of the bill sponsored by then-Rep. Ron Paul (R-Texas) passed in 2012 by a vote of 327-98. Paul's son, Sen. Rand Paul (R-Ky.), has introduced companion legislation in the Senate.
Rep. Paul Broun (R-Ga.), who failed to advance in a Senate GOP primary earlier this year, said the measure would increase transparency at the Federal Reserve.
http://thehill.com/blogs/floor-action/house/218047-house-passes-bill-to-audit-the-federal-reserve
The political winds have begun to shift against the Fed. It is telling that the US Dollar began to rally soon after this legislation was introduced. A less active Fed means a stronger US Dollar. Between the end of QE, negative interest rates in Europe, and legislation that would rein in the Fed’s lack of accountability, the US Dollar has hit a four -ear high.
If the GOP takes the senate, the days of the Fed doing whatever it wants will have ended. This may well in fact be what pops the US stock market bubble. The GOP hasn't controlled the Senate at any point since the Crisis hit in 2008. If the GOP controls both the House and the Senate, the Fed will be in for SERIOUS problems.
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(stunned?) disbelief ... Further meaning, it matters NOT whether one side of the same coin picks up seats
So, what you're saying is this: There is no faction within either party committed to reducing fed'l gov't power. No faction.
If one has paid ANY attention to what has taken place since the dot.com bubble...
I'm one such 'one'. Politics is my hobby. Since the dot.com bubble (actually, since about 6 years before), I daily peruse 20 to 40 political Web sites of the rational and adult kind, spending 2 to 6 hours every day on politics (Sure, you may consider this [and me] fucked up, but at least I'm politically knowledgable). In the 4,000 or so days since the dot.com bubble burst, I've missed perhaps 50 days. Thus, I've been a student of politics for pretty close to 20 years.
You're wrong -- and blind, ignorant, or both. And, you're unreachable. There's no use interacting with you.
But, your kind intrigues me, like the majority of posters to the ZH article (nearly the inverse of this one) "Wall Street Spends Record Sum In Midterm Election (Betting On Republican Puppets This Time)".
I researched the author of this article, Mike Krieger of Liberty Blitzkrieg blog. What did I find? Krieger worked in Wall Street, and now condemns it. His POV is yours: Both parties suck.
Having a blog with 'liberty' in the title, I presumed Krieger was libertarian. However, after perusing 50+ of his articles, I became suspicious of his political leanings, so I searched his site using the key word 'Progressive'. Why was I suspicious of Krieger? Because only one of the 53 articles I perused criticized Obama, and then only mildly and indirectly. Here's the 1st 5 hits:
Personally, I would have preferred the issue that united libertarian and progressive activists to have been the Federal Reserve
Considering that most mainstream media watching Americans had no idea how out of control the police militarization had become ... this is hopefully one of those issues libertarians and progressives can find common ground on
Although we are now starting to see libertarians and progressives unite in Congress on some very important issues such as domestic surveillance
According to a study by the Center for Progressive Reform (My note: said study cited favorably)
This is where he gets into the rapidly emerging and “unstoppable” left-right activist alliance. I have personally been pushing for such an alliance for quite some time. Most recently, I wrote about it in my article from last year: #StandwithRand: The Filibuster that United Libertarian and Progressive Activists
Since Krieger belongs to the Progressive wing of Libertarianism, I discovered why Krieger failed to blame Obama: He (like the MSM) defends the prime Progressive, Obama.
Now, I realize that, even though Libertarianism means more than "fierce committment to personal liberal and small gov't", aspects of Libertarianism can be radically left-wing, and still be considered (at least by some/most) to be Libertarian. No big deal. Libertarians can define themselves however they want. Whatever gets you thru the night; let it be; live and let live.
But, how can anyone who believes in personal liberty and non-tyrannical gov't ally her/imself with Progressives? Progressive lust to have gov't control everything, with them in charge, and with democracy discarded because Progressive loathe the common wo/man. How could a guy with 'liberty' in his blog title ally himself with 'tards who have as one of their primary goals the complete elimination of individual choice.
My answer? This exercise is left for the reader. Unless each of us discovers truth for her/imself, and usually in a very hard way, no growth occurs.
Mike Krieger is gonna Blitzkrieg all over liberty! Good catch! The stink of progressive tyranny gets blown around in the wind far to often here at ZH.
Hey progressive moron/drones--How does big government enfore it's laws? Answer---- Violence!
More law=more violence against citizens until they are murdered.
Big progressive government is the number one murderer of the last century.
http://www.hawaii.edu/powerkills/MURDER.HTM
Grimaldus
Hope and change! Yes we can! Moar debt! More free money to the banking class!
Republicrats are all owned by the Zionists. All of the sudden the banking class is going to fear the politicians? Lloyd Blankfien, Jamie Diamond, and Edward Quince are shaking in their boots.
This article is shit. Why the fuck is this shit on ZH? Trying to get more idiots in for page views, or trying to dumb down fight club?
RED AND BLUE DON"T MATTER. MONEY, OWNERSHIP, AND DEBT SLAVES MATTER.
Any other noise is serving the purpose of pulling the wool over the public's eyes.
+100
If the GOP takes the Senate, we may just see an end to all this sooner...They won't be able to help themselves, one of them will do something stupid, you watch...
Mark my words.
I suspect they will all do something stupid, but they know who feeds them.
Phoenix Capital makes an interesting point. If a Republican led congress actually DOES this, then the markets will react....(but I have my doubts that a Republicans congress will challenge the Financial 'powers that be" any more than the current one does).
TBTB, financially, have been GS squidsters for decades. Regardless of "color".
BULLSHIT. NOTHING CHANGES AND THERE IS NO POINT.
Auditing the FED is just a sideshow.
"We are really tryin'..."
The Republicans and the Democrats are two factions the same fuckin' party.
Haven't you learned anything?
The REPUBLICAN CONTROLLED HOUSE OF REPRESENTATIVES VOTED TO FUND OBAMACARE 54 WEEKS AGO.
It is FUCKING EVIDENTIAL.
How fucking stupid can you be?
This is outright nonsense of an article and your post is just more noise.
" If the GOP takes the senate, the days of the Fed doing whatever it wants will have ended."
yeah, because the GOP wants the meltdown to occur because of them.
Nothing changes.
I think the GOP is well aware of some of the alternative uses for nail guns.
So, nothing will change other than a few marginal things, but the corporatist agenda will move forward as it has for the past 100 odd years.
Wall Street knows what it paid for, they have a list of deliverables from Congress, not like the suckers, I mean voters, at the polls today.
Point very well taken, but they do have the cover of the Obama administration and outgoing Democratic Senate. It is possible they could deflate the bubble and not be blamed.
The bubble cannot be deflated without destroying zee system. We have passed the point when a nice little recession could fix things.
It is also past the point of inflating their way out of it. Of course this has always been the FED/Oligarch way:
Inflate asset prices vs existing debt. Take on new and increased debt on inflated assets. Repeat cycle indefinitely.
Yup. Some suitcases stuffed with untraceable cash and diamonds will ensure the GOP leaves the FED alone.
That, and maybe a: hot tub accident, plane crash, "suicide", and heart attack here and there.
Sorry - off topic but:
Raoul Weil, former UBS exec found not gulity of charges of aiding US tax evasion:
http://www.reuters.com/article/2014/11/04/us-ubs-ag-banking-weil-idUSKBN...
REPEAL FATCA
don't forget the rapidly spreading cancer.
Yeap. This article is a little ridiculous.
They'll still have obama to blame for 2 more years.
They could vote to eliminate "Executive Order".
Unseal all his records or let them "leak" to the press.
They'll still have obama to blame for 2 more years.
They could vote to eliminate "Executive Order".
Unseal all his records or let them "leak" to the press.