Last week at its regular policy-setting meeting, the Federal Reserve announced it would double down on the policies that have failed to produce anything but a stagnant economy. It was a disappointing, but not surprising, move.
Forced lockdown of a city. Militarized police riding tanks in the streets. Door-to-door armed searches without warrant. Families thrown out of their homes at gunpoint to be searched without probable cause. Businesses forced to close. Transport shut down.
Earlier this month, entertainers Jay-Z and Beyoncé were given a license by the US government to travel to Cuba. Because it is not otherwise legal for Americans to travel to Cuba, this trip was only permitted as a “cultural exchange” by the US Treasury Department. Many suspect that the permission was granted at least partly
A common feature of authoritarian regimes is the criminalization of alternatives to government-controlled education. Dictators recognize the danger that free thought poses to their rule, and few things promote the thinking of “unapproved” thoughts like an education controlled by parents instead of the state. That is why the National Socialist (Nazi) government of Germany outlawed
Last week marked the conclusion of the grand taxpayer funded spectacles known as the national party conventions. It is perhaps very telling that while $18 million in tax dollars was granted to each party for these lavish ordeals, an additional $50 million each was needed for security in anticipation of the inevitable protests at each
We frequently hear the financial press refer to the U.S. dollar as the “world’s reserve currency,” implying that our dollar will always retain its value in an ever shifting world economy. But this is a dangerous and mistaken assumption. Since August 15, 1971, when President Nixon closed the gold window and refused to pay out
As we enter the fall political season, we will hear a great deal of rhetoric from both major political parties and their many candidates for office. It’s important for us to remember, however, that words can be made meaningless by misuse or overuse. And when we as citizens allow politicians to obscure the truth by
I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America. This monopoly is maintained using federal counterfeiting laws, which is a bit rich.
Last week the House passed yet another bill placing sanctions on Iran and Syria, bringing us closer to another war in the Middle East. We are told that ever harsher sanctions finally will force the targeted nations to bend to our will. Yet the ineffectiveness of previous sanctions teaches us nothing; in truth sanctions lead to war more than they prevent war.
Last week the House of Representatives overwhelmingly passed my legislation calling for a full and effective audit of the Federal Reserve. Well over 300 of my Congressional colleagues supported the bill, each casting a landmark vote that marks the culmination of decades of work. We have taken a big step toward bringing transparency to the