Wednesday, June 4, 2008

The Fed’s War on the Middle Class (Mark Thornton)

Mark Thornton on why the middle class is robbed by the policies of central banks, and how a gold standard would greatly reduce our economic pain:

Multimillionaires like Hillary Clinton and Lou Dobbs butter their bread by defending middle-class Americans. They are correct about the problem, but their suggested remedies — protectionism, welfare, regulation, subsidy, and tax reform — would only make the problem worse.

The middle class actually faces many important economic problems, but in reality they boil down to three current problems and one that looms large in our future. All four problems stem from a common cause — the Federal Reserve. History tells us that we either root out this cause or face economic demise.

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