Sunday, June 26, 2011

Letter to Michele Bachmann Concerning the Fed

PO Box 130
West Shokan, NY 12494
June 26, 2011

Michele Bachmann
103 Cannon HOB
Washington, DC 20515

Dear Ms. Bachmann:

Please take a position concerning the Federal Reserve Bank and the legal tender law.

I recently gave a small contribution to your campaign and to Ron Paul's and Gary Johnson's. I am not certain that I will vote for a Republican in November 2012, though.  One reason I contributed to you is the legacy media's bias against you.

In order for me to continue to support your candidacy I will need to know where you stand on the Federal Reserve Bank. You need to be specific.  Stephen Moore's recent Wall Street Journal article* about you was unconvincing. Moore indicates that you would appoint a different Fed chairman than Bernanke, not that you would eliminate the post altogether. I appreciate your opposition to TARP.  But the headline referred to Ludwig von Mises while the authors whom you admire include Art Laffer and Milton Friedman.  Milton Friedman's monetarism and Art Laffer's supply-side economics depend on big government.  Perhaps you might base your position on Hayek's essay "Denationalisation of Money." 

I await your position on the Fed, which is the decisive one concerning big government, for the Fed is a necessary and sufficient condition for big government.

Sincerely,


Mitchell Langbert, Ph.D.

*http://online.wsj.com/article/SB10001424052702304259304576375491103635726.html?KEYWORDS=bachmann

Political Contribution Season

My good friend Mike Marnell has sent an e-mail to his friends urging them to contribute to Ron Paul's presidential bid.  I also received a call from Michele Bachmann's campaign. As well, I have been very favorably impressed by Gary Johnson.  Johnson told me that he favors repeal of the legal tender law, which is close to favoring abolition of the Fed.  Paul favors abolition of the Fed. I'm not sure of Bachmann's position on the Fed, but I have heard that the legacy media hates her, which I verified by taking one look at the ridiculous spin that CBS calls news.  I don't get annoyed with the legacy media any more; I simply don't pay attention to it. (I never watch broadcast journalism, but might make an exception for Fox Business News's Judge Napolitano.)  Since CBS hates Bachmann, I am going to support her too.

I decided to kick off the 2012 presidential campaign by giving small donations to Paul, Johnson and Bachmann. I'm not ruling out support for the Libertarian Party, though.  I'm still not sure if a split government (Republican Congress, Democratic President) wouldn't be better than a Republican Congress and a Republican president given the Republicans' stupidity the last time around.   The problem, of course, is Obama's distasteful position on Israel and his insistence on destroying the American economy by inhibiting development of energy and other natural resources such as coal and oil.  Obama, a banker lackey, is even more corrupt than the Republicans were. Bush made a mess of the economy. Obama made the mess 50 times worse.   In other words, the Democrats are so bad that even a Wall Street marionette like Mitt Romney is better than an anti-Semitic Whig  like Obama.