Unlike most commentators these days, former Congressman Ron Paul understands that the real electoral meddling comes from the Federal Reserve.
In a piece for the Ron Paul Institute, former Congressman Ron Paul detailed the history of the Founding Fathers’ skepticism towards central banking and their constant battles against the establishment of a central bank.
From its very founding, America did not give the government the authority to establish a central bank. This was informed by the experience of the Founding Fathers, who lived through hyperinflation in their lifetime.
It took three attempts to finally establish a central bank in America. The charter for The First Bank expired in 1811 and President Andrew Jackson shut down the Second Bank in 1833.
However, the third time was a charm when Congress created the Federal Reserve in 1913. Paul describes it as a “corrupt and immoral monetary system.” He also notes how the Fed has been a major enabler of government growth and views it as the “printing press that has financed the creation of the largest government to ever exist.”
Paul correctly notes that the Fed is not so “independent”. It’s in fact a very political institution due to how it’s a government-created monopoly that has numerous employees appointed by the government.
Ex-New York Fed President Bill Dudley demonstrated this lack of independence in recent comments. Dudley stated, “Trump’s re-election arguably presents a threat to the United States’ and global economy, and if the goal of monetary policy is to achieve the best long-term economic outcome, the Fed’s officials should consider how their decisions would affect the political outcome of 2020.”
Paul sees the Federal Reserve as a part of the Deep State. He expanded:
Whether it’s the mainstream media, the CIA, the FBI, or now the Federal Reserve, more and more Americans are waking up to the fact that there is a Deep State in America and its interests have nothing to do with American liberty. In fact, our liberty is what the Deep State wants to abolish.
Paul believes that the Fed should be audited and “then ended as soon as possible.”
The former Congressman from Texas concluded with the following:
America’s Founders were not perfect. They were human beings just as capable of error as we are. But they had a remarkable understanding of the ideas of liberty. They understood that liberty cannot exist with a government that has access to a printing press. Sound money and liberty go hand-in-hand. If we want to enjoy the blessings of Liberty, we must audit and then end the Federal Reserve!
Even in retirement, Dr. Paul shines as he provides powerful insights on some of the most controversial topics in American politics.