A few of the leading names in the political realm came together in Nashville, Tennessee over the weekend to discuss the Federal Reserve. They called it, A Night of Clarity. The conference boasted a room of more than 500, packed wall to wall with a surprisingly wide range of audience demographics. Typically, at such events where former congressman, Dr. Ron Paul is featured the crowd is young and energetic. This crowd was unique. The median age was approximately 40 years old. Many attendees were former business, economic & marketing majors who are now leaders in their chosen industry. Attendees came from all over the country to hear the six man team make their case against the Federal Reserve.
The night featured speeches and book signings by:
-Lawrence Reed, founder of the Foundation for Economic Education (FEE)
-Former Congressman, Dr. Ron Paul (R-TX)
Each man took their turn throwing jabs at the Federal Reserve and America’s fiat monetary system. Multiple jabs were also thrown at Ben Bernanke, republicans and democrats. Each man, a champion of Austrian economics, criticized the embrace of the Keynesian school.
Dr. Murphy tells us, “The Federal Reserve obviously has a horrible record. However, we are only asking- Who should replace Ben Bernanke? When we need to be asking- How do we replace the Federal Reserve?”
When asked about the unique audience demographics Dr. Murphy said,
“We are trying to do something different with these conferences. If we can bring in the business and finance industry to show them how the Federal Reserve’s policies have a direct, negative effect on their business and career then hopefully we can get the industry motivated to seek change.”
According to Dr. Woods, “Every panic in the past has been caused by the over-issuing of paper money and too much regulation.“
Woods says that there is so little difference between the two new Federal Reserve nominees that you literally couldn’t slide a credit card between the two of them, and yet the media is portraying it as a “raging debate in Washington”. “The raging debate would be about whether or not there should even be a Federal Reserve,” says Dr. Woods.
Dr. Paul says, “Austrian economics and the Federal Reserve is a favorite subject of mine.” According to Dr. Paul, he gets a lot of phone calls from the media asking him who he would choose as the next Federal Reserve chair. Dr. Paul says he responds, “Mr. NOTA” (none of the above). According to Dr. Paul,
“There is a massive crash coming. The seeds have been sown for decades now. This crash will dwarf any crash seen in the history of the world. It is inevitable. The coming bubble is gigantic and it is already leaking. To my understanding of the market and the global economy the bond bubble is so big because of the world wide fiat currency and rampant inflation. Even though I encourage people to run for Congress and encourage champions such as my son and Congressman Amash to speak truth- I do not see a time in the near future where we will be able to end the Federal Reserve through Congress. They may tinker with policy, but ending quantitative easing and such will not occur. The bubble will continue to grow and become so big that they simply will not know how to handle it. It is an addiction. The country and the world are addicted to this type of spending. “
Paul gives a dire warning, but says he is also optimistic.
“The youth makes me optimistic. People call me disillusioned because of all the support I receive from college students. They say the kids only support me because they want to smoke pot. I don’t believe that. The young people I have met are incredibly decent, educated and wonderful people. They want the truth,” says Dr. Paul.
Paul says that we are running out of time, and that we must hurry to educate and inspire others.
The event promoted the newly found Infinite Banking Institute, which is an educational program that focuses on Austrian economic implementation in the financial industry.
Let us know what you think in the comments below-