Anti-Fed Sentiment Grows in GOP

By:  Jack Kenny
12/23/2011
       
Anti-Fed Sentiment Grows in GOP

On the one hand, “mainstream Republicans” are described by CNN's Jack Cafferty as “apoplectic” over the prospect of Ron Paul winning the caucuses in Iowa. On the other hand, the whole party has fallen captive to the 12-term Congressman's “radical ideology,” according to Gary Weiss on the “progressive” web site Salon.com.

“The Republican Party, falling deeper into the clutches of Ron Paul’s "radical ideology," has a new item on its anti-populist agenda: Castrate the Federal Reserve so that it no longer can promote job growth,” Weiss wrote in Thursday's column. Weiss is, well, appalled at “the extent to which Ron Paul's fixation with the Fed has infected the Republican party. Anti-Fed rhetoric, once the province of "ultra-right" (on popularly cited fallacious political spectrums) groups like The John Birch Society, has gone mainstream with the rise of Paul, who has been surging in the polls and now ranks third behind Mitt Romney and Newt Gingrich. He is actually leading in Iowa, and a victory there would really rev up his famously loyal followers.”

Those loyal followers, as well as other Americans, might also be a little negatively revved up about about the report of a Government Accountability Office on the Federal Reserve Bank, issued in July of this  year, showing the Fed had secretly lent some $16 trillion to domestic and foreign banks since 2008.

On the one hand, “mainstream Republicans” are described by CNN's Jack Cafferty as “apoplectic” over the prospect of Ron Paul winning the caucuses in Iowa. On the other hand, the whole party has fallen captive to the 12-term Congressman's “radical ideology,” according to Gary Weiss on the “progressive” web site Salon.com.

“The Republican Party, falling deeper into the clutches of Ron Paul’s "radical ideology," has a new item on its anti-populist agenda: Castrate the Federal Reserve so that it no longer can promote job growth,” Weiss wrote in Thursday's column. Weiss is, well, appalled at “the extent to which Ron Paul's fixation with the Fed has infected the Republican party. Anti-Fed rhetoric, once the province of "ultra-right" (on popularly cited fallacious political spectrums) groups like The John Birch Society, has gone mainstream with the rise of Paul, who has been surging in the polls and now ranks third behind Mitt Romney and Newt Gingrich. He is actually leading in Iowa, and a victory there would really rev up his famously loyal followers.”

Those loyal followers, as well as other Americans, might also be a little negatively revved up about about the report of a Government Accountability Office on the Federal Reserve Bank, issued in July of this  year, showing the Fed had secretly lent some $16 trillion to domestic and foreign banks since 2008.

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