In order to ensure that this thread continues to meet TL standards and follows the proper guidelines, we will be enforcing the rules in the OP more strictly. Be sure to give them a re-read to refresh your memory! The vast majority of you are contributing in a healthy way, keep it up!
NOTE: When providing a source, explain why you feel it is relevant and what purpose it adds to the discussion if it's not obvious. Also take note that unsubstantiated tweets/posts meant only to rekindle old arguments can result in a mod action.
On October 26 2013 05:36 Sermokala wrote: Trolling is also a term for moveing slowly through the water when fishing ie a trolling motor. Patent trolling follows this version of trolling.
Sen. Rand Paul (R-Ky.) has threatened to block the nomination of Janet Yellen to chair the Federal Reserve, CNBC reported Friday.
Citing a source close to Paul, CNBC wrote that the Kentucky Republican "is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions."
The bill in question, the Federal Reserve Transparency Act of 2011, would eliminate current audit restrictions placed on the Government Accountability Office and require the Fed to undergo a complete audit by a specific deadline. Similar legislation was championed in the House by Paul's father, former GOP presidential candidate and Texas Rep. Ron Paul.
The senator hinted at his plans in a video message Thursday for his father's political group, Campaign for Liberty.
"There's no time to waste. Right now, the U.S. Senate is preparing to debate and confirm the new Obama nominee to chair the Federal Reserve," Paul says in a voiceover. "I say not so fast. I say vote no on a new Fed chairman without a vote on my Audit the Fed bill."
Ron Paul's "audit the Fed" bill was also supported by Dennis Kucinich, of all people! Even though of course Paul's (and now Paul's) motivations are more along the lines of "END THE FED", this is probably one of those broken-clock good ideas.
good ideas? this is literally one of the dumbest ideas from the GOP's crazy wing. And they have lots of really stupid ideas.
What's so bad about auditing the Fed?
its the first step in a populist attempt to bring back the gold standard.
Perhaps, but I don't particularly like slippery slope arguments. As an isolated law, is it really that bad? Genuinely curious since I'm not sure what completely auditing the Fed fully entails.
On October 26 2013 05:36 Sermokala wrote: Trolling is also a term for moveing slowly through the water when fishing ie a trolling motor. Patent trolling follows this version of trolling.
Long story short, its actually named after the Troll dolls and the Troll under the bridge who collects tolls from a bridge he didnt build from that one fairy tale that im forgetting the name of.
Sen. Rand Paul (R-Ky.) has threatened to block the nomination of Janet Yellen to chair the Federal Reserve, CNBC reported Friday.
Citing a source close to Paul, CNBC wrote that the Kentucky Republican "is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions."
The bill in question, the Federal Reserve Transparency Act of 2011, would eliminate current audit restrictions placed on the Government Accountability Office and require the Fed to undergo a complete audit by a specific deadline. Similar legislation was championed in the House by Paul's father, former GOP presidential candidate and Texas Rep. Ron Paul.
The senator hinted at his plans in a video message Thursday for his father's political group, Campaign for Liberty.
"There's no time to waste. Right now, the U.S. Senate is preparing to debate and confirm the new Obama nominee to chair the Federal Reserve," Paul says in a voiceover. "I say not so fast. I say vote no on a new Fed chairman without a vote on my Audit the Fed bill."
Ron Paul's "audit the Fed" bill was also supported by Dennis Kucinich, of all people! Even though of course Paul's (and now Paul's) motivations are more along the lines of "END THE FED", this is probably one of those broken-clock good ideas.
good ideas? this is literally one of the dumbest ideas from the GOP's crazy wing. And they have lots of really stupid ideas.
What's so bad about auditing the Fed?
its the first step in a populist attempt to bring back the gold standard.
afaik it's more geared towards reducing Fed secrecy and increasing political control, which are considered bad things in the world of central banking.
On October 26 2013 06:22 Souma wrote: Perhaps, but I don't particularly like slippery slope arguments. As an isolated law, is it really that bad? Genuinely curious since I'm not sure what completely auditing the Fed fully entails.
The Federal Reserve already publishes the contents of its balance sheet, what Rand and his types want is to assign a 'loss' or 'gain' column, and open the actual FOMC discussion, increasingly the possibility of populist pressure against individual federal board governors. The goal is to then undermine the Federal Reserves' independence or completely remove it.
Sen. Rand Paul (R-Ky.) has threatened to block the nomination of Janet Yellen to chair the Federal Reserve, CNBC reported Friday.
Citing a source close to Paul, CNBC wrote that the Kentucky Republican "is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions."
The bill in question, the Federal Reserve Transparency Act of 2011, would eliminate current audit restrictions placed on the Government Accountability Office and require the Fed to undergo a complete audit by a specific deadline. Similar legislation was championed in the House by Paul's father, former GOP presidential candidate and Texas Rep. Ron Paul.
The senator hinted at his plans in a video message Thursday for his father's political group, Campaign for Liberty.
"There's no time to waste. Right now, the U.S. Senate is preparing to debate and confirm the new Obama nominee to chair the Federal Reserve," Paul says in a voiceover. "I say not so fast. I say vote no on a new Fed chairman without a vote on my Audit the Fed bill."
Ron Paul's "audit the Fed" bill was also supported by Dennis Kucinich, of all people! Even though of course Paul's (and now Paul's) motivations are more along the lines of "END THE FED", this is probably one of those broken-clock good ideas.
good ideas? this is literally one of the dumbest ideas from the GOP's crazy wing. And they have lots of really stupid ideas.
What's so bad about auditing the Fed?
its the first step in a populist attempt to bring back the gold standard.
Populist...gold standard? I don't mean to be pedantic--I get your point--but it's funny just because it reminds me of libertarians who do mash up these old forgotten arguments nonsensically, like quoting the Federalist Papers to argue against paper money, as though the demands of colonial farmers to reduce their debt are somehow something we need to rail against today
Sen. Rand Paul (R-Ky.) has threatened to block the nomination of Janet Yellen to chair the Federal Reserve, CNBC reported Friday.
Citing a source close to Paul, CNBC wrote that the Kentucky Republican "is insisting on a vote on his Fed transparency bill, and has informed Senate leadership of his intentions."
The bill in question, the Federal Reserve Transparency Act of 2011, would eliminate current audit restrictions placed on the Government Accountability Office and require the Fed to undergo a complete audit by a specific deadline. Similar legislation was championed in the House by Paul's father, former GOP presidential candidate and Texas Rep. Ron Paul.
The senator hinted at his plans in a video message Thursday for his father's political group, Campaign for Liberty.
"There's no time to waste. Right now, the U.S. Senate is preparing to debate and confirm the new Obama nominee to chair the Federal Reserve," Paul says in a voiceover. "I say not so fast. I say vote no on a new Fed chairman without a vote on my Audit the Fed bill."
Ron Paul's "audit the Fed" bill was also supported by Dennis Kucinich, of all people! Even though of course Paul's (and now Paul's) motivations are more along the lines of "END THE FED", this is probably one of those broken-clock good ideas.
good ideas? this is literally one of the dumbest ideas from the GOP's crazy wing. And they have lots of really stupid ideas.
What's so bad about auditing the Fed?
its the first step in a populist attempt to bring back the gold standard.
Populist...gold standard? I don't mean to be pedantic--I get your point--but it's funny just because it reminds me of libertarians who do mash up these old forgotten arguments nonsensically, like quoting the Federalist Papers to argue against paper money, as though the demands of colonial farmers to reduce their debt are somehow something we need to rail against today
I am using populist not in the historical, 19th century version, which is why I spelled it with a little p, but in the Republican lets rile up the rubes with vague, threatening seeming things whose name sounds kind of like the name of the evil federal government and therefore it must be evil too.
On October 26 2013 06:22 Souma wrote: Perhaps, but I don't particularly like slippery slope arguments. As an isolated law, is it really that bad? Genuinely curious since I'm not sure what completely auditing the Fed fully entails.
The Federal Reserve already publishes the contents of its balance sheet, what Rand and his types want is to assign a 'loss' or 'gain' column, and open the actual FOMC discussion, increasingly the possibility of populist pressure against individual federal board governors. The goal is to then undermine the Federal Reserves' independence or completely remove it.
I think they already show losses and gains. The real meat they're going after is who and to what extent the Fed is transacting with (e.g. who accessed the discount window) as well as the FOMC decisions as you mentioned.
Auditing the Fed also has bi-partisan support (it really is populist!), though currently more Reps than Dems support it. A watered down version already went into Dodd-Frank.
I'd like to know more about what exactly such an audit would entail. In the general sense of the word audit, I'd say the entire federal government should be audited on a regular basis.
The FED is technically supposed to be independent from the federal government.
Don't they have like quarterly hearings where Republicans rant at Bernanke about Austrian Economics? I'd be pretty damn suspicious of whatever audit they're suggesting. Sounds like politicizing the FED.
Oklahoma Rep. Tom Cole, one of the key Republican negotiators on a possible budget deal, said Friday that he would support raising revenue and more of his colleagues need to be open to the idea.
"I think both sides would like to deal with the sequester. And we're willing to put more revenue on the table to do that, and we would like to do it with entitlement savings," Cole said on Bloomberg TV's "Political Capital with Al Hunt," adding the GOP was more focused on "pro-growth revenue" as opposed to tax increases.
Cole acknowledged that many of his colleagues have declared any new revenue off the table, but pointed out that in order to get to a deal, both sides would have to give a little.
"Yeah, there are some that feel that way. But, you know, the reality is, you're going to have to have a deal here," he said, when asked about the many Republicans who disagree with his position. "And a deal means everybody gives something up. Now, again, we're much more into what I'd call pro-growth revenue."
Cole is part of the 29-member negotiating committee tasked with reconciling the vastly different Senate and House budgets as part of last week's deal to end the government shutdown and raise the debt limit. The legislation set a deadline of Dec. 13 for conferees to reach an agreement on a long-term framework for tax and spending policies.
Oklahoma Rep. Tom Cole, one of the key Republican negotiators on a possible budget deal, said Friday that he would support raising revenue and more of his colleagues need to be open to the idea.
"I think both sides would like to deal with the sequester. And we're willing to put more revenue on the table to do that, and we would like to do it with entitlement savings," Cole said on Bloomberg TV's "Political Capital with Al Hunt," adding the GOP was more focused on "pro-growth revenue" as opposed to tax increases.
Cole acknowledged that many of his colleagues have declared any new revenue off the table, but pointed out that in order to get to a deal, both sides would have to give a little.
"Yeah, there are some that feel that way. But, you know, the reality is, you're going to have to have a deal here," he said, when asked about the many Republicans who disagree with his position. "And a deal means everybody gives something up. Now, again, we're much more into what I'd call pro-growth revenue."
Cole is part of the 29-member negotiating committee tasked with reconciling the vastly different Senate and House budgets as part of last week's deal to end the government shutdown and raise the debt limit. The legislation set a deadline of Dec. 13 for conferees to reach an agreement on a long-term framework for tax and spending policies.
Guess we know who the Tea Party is going to primary out of the party. TRAITOR!
The Highlander Theory of the GOP The Republican Party has seen a procession of new leaders leaping to the fore—only to be cut off at their knees by a new conservative darling.
What's a GOP presidential hopeful to do? In the past year, the party has cycled through one favorite aspirant after another before running into a problem: There's no longer a single consensus about what makes a good candidate. Inevitable deviations from conservative orthodoxy are seen as disqualifying sins. Republicans have a habit of killing their darlings.
This quote from one of the commenters on the article was great: "The GOP is a party with no sense of proportion. It always overplays its hand. Every little thing Obama does is CRUSHING FREEDOM ITSELF or DESTROYING OUR WAY OF LIFE!!! Every new figure on the scene is the savior come at last! It's the Party of ALL CAPS and crazy exclamation points."
Oklahoma Rep. Tom Cole, one of the key Republican negotiators on a possible budget deal, said Friday that he would support raising revenue and more of his colleagues need to be open to the idea.
"I think both sides would like to deal with the sequester. And we're willing to put more revenue on the table to do that, and we would like to do it with entitlement savings," Cole said on Bloomberg TV's "Political Capital with Al Hunt," adding the GOP was more focused on "pro-growth revenue" as opposed to tax increases.
Cole acknowledged that many of his colleagues have declared any new revenue off the table, but pointed out that in order to get to a deal, both sides would have to give a little.
"Yeah, there are some that feel that way. But, you know, the reality is, you're going to have to have a deal here," he said, when asked about the many Republicans who disagree with his position. "And a deal means everybody gives something up. Now, again, we're much more into what I'd call pro-growth revenue."
Cole is part of the 29-member negotiating committee tasked with reconciling the vastly different Senate and House budgets as part of last week's deal to end the government shutdown and raise the debt limit. The legislation set a deadline of Dec. 13 for conferees to reach an agreement on a long-term framework for tax and spending policies.
The Highlander Theory of the GOP The Republican Party has seen a procession of new leaders leaping to the fore—only to be cut off at their knees by a new conservative darling.
What's a GOP presidential hopeful to do? In the past year, the party has cycled through one favorite aspirant after another before running into a problem: There's no longer a single consensus about what makes a good candidate. Inevitable deviations from conservative orthodoxy are seen as disqualifying sins. Republicans have a habit of killing their darlings.
I'm having trouble counting how many "favorite aspirants" have been cycled through. Ryan was a disappointment and Ron Johnson as well. Yeahhhh.... that's all I got. That is, unless you want to talk about liberal media darlings.
Did I see that article talk about reconciling Senate and House budgets? That's quite a pretty thing to call a negotiation on Finance by Continuing Resolution, also known as the absence of a budget.
Ted Cruz, Rand Paul, Marco Rubio,Chris Christie, Michelle Bachmann, Hermann Cain,Rick Perry, Rick Santorum, Sarah Palin. Who else am I missing? Christie of course didn't last long, he's too bipartisan. I guess its easier to pretend to be a goldfish but tea party extremist of the month is fresh in most of our minds.
On October 26 2013 05:36 Sermokala wrote: Trolling is also a term for moveing slowly through the water when fishing ie a trolling motor. Patent trolling follows this version of trolling.
Long story short, its actually named after the Troll dolls and the Troll under the bridge who collects tolls from a bridge he didnt build from that one fairy tale that im forgetting the name of.