The Lies of Federal Reserve Chairman Herman Cain

Posted on Oct 17, 2011 in Constitutional & Liberty Issues, Federal Reserve & Bankers, Political Issues

Kevin Hayden –

Source: Lew Rockwell by Justin T. P. Quinn

I couldn’t believe what I heard on Tuesday night’s Bloomberg Debate. Well, okay, I guess I could believe it, but let me qualify my recantation. There was always something about Cain that made him come off as a man who isn’t above deception. It probably has something to do with the fact that I don’t trust former Federal Reserve Chairmen. Still, I was surprised, not because because he lied, but what he lied about.

When they started the segment of the debate where each candidate could ask their own question, I knew that Paul was going to hammer Cain. However, I was hoping it was going to be on Herman Cain’s credibility on economic issues. Arguably, it would have been a much better question. Arguably, this could be seen as a missed opportunity on Ron Paul’s part, but hindsight may prove it better for Ron Paul to have kept that card in reserve. Instead of asking a question that would have highlighted his own credentials, Paul came out in defense of the countless grassroots supporters that pester Herman Cain on the issue of auditing the Federal Reserve.

Mr. Cain, in the past you have been rather critical of any of us who would want to audit the Fed. You have said – you’ve used pretty strong terms, that we were ignorant and that we didn’t know what we are doing, and therefore, there was no need for an audit anyway, because if you had one, you’re not going to find out anything, because everybody knows everything about the Fed,” Paul said.

But now that we have found and we have gotten an audit, we have found out an awful lot on how special businesses get bailed out – Wall Street, the banks, and special companies, foreign governments. And you said that you advise those of us who were concerned, and you belittled – you say call up the Federal Reserve and just ask them, get the PR person. Do you still stick by this, that that this is frivolous, or do you think it’s very important? Sixty-four percent of the American people want a full audit of the Fed on a regular basis.

When Paul put him on the spot, I know there was only two options: squirm, or lie. He didn’t squirm. He barely flinched.

First of all, you have misquoted me. I did not call you or any of your people ignorant. I don’t know where that came from. Alright? (Paul: “I’ll get it for you.”) Now, so, you’ve gotta be careful of the stuff you get off the Internet, because that’s just not something I’ve said. Secondly, when I served on the board of the Federal Reserve in the 1990’s, we didn’t do any of the things that this federal reserve is doing. I don’t agree with the actions of this federal Reserve. I don’t agree with the actions that have been undertaken by Ben Bernanke. We didn’t have a 14 trillion dollar national debt to prop up with some of the actions that they are taking. And I have also said, to be precise, I do not object to the federal Reserve being audited. I simple said, “If someone wants to initiate that action, go right ahead. It doesn’t bother me.” So, I’ve been misrepresented in that regard. I don’t have a problem with the Federal Reserve being audited, it’s simply not my top priority. My top priority is 9-9-9! Jobs! Jobs! Jobs!

I was shocked, because denying any part of one’s criticism of the Audit the Fed Movement is something you just can’t get away with nowadays. If he lied at the debate, the New Media would be on it faster than you could say “9-9-9,” and Herman Cain would be stuck with a humiliating wave of videos and articles exposing him as the liar that he is.

The Word “Ignorant”

“First of all, you have misquoted me. I did not call you or any of your people ignorant.”

– What do you mean, your people!?

Just kidding. I won’t play any race cards in this one. I’m more intellectually honest than that. Instead, lets look at real substance of Mr. Cain’s words and see how well they apply to reality. I’ll start with the word ignorant. Has Mr. Cain ever referred to Dr. Paul’s people using the word “ignorant?”

No- he used the word “stupid,” in his own book, in fact. “Just more Internet nonsense,” you say? Really?  Sure, it would be nice if they provided page and paragraph, but has the Cain Campaign come out to deny it? Is anyone denying it?  In Cain’s defense, he never called Ron’s Supporters “stupid,” just that they “ask stupid questions.” He also never called them “liars” either, just that they “stretch the truth” when they say Cain doesn’t want an audit of the Federal Reserve.

But I digress. Lets tackle this “ignorant” issue head on, and see what Dr. Paul is referring to:

…but people who say, “Well, we ought to audit the Federal Reserve because we don’t know enough about it,” well, here’s the advice I’ve given to people who are worried about an audit of the Federal Reserve. “CALL ‘EM UP, and ask ’em, if you can stop by and have one of their PR people, or of their Public Relations people, explain to you, how the Federal Reserve operates!” I think a lot of people are calling for this audit of the Federal Reserve because they don’t know enough about it. There’s no hidden secrets going on in the Federal Reserve, to my knowledge, and I tell people, we’ve got twelve Federal Reserve banks, find out which district you’re in, call ’em up and go from there! We don’t need to waste money with another commission, or an audit that’s not necessary, because, folks, we got a lot of other problems we need to worry about. You’re listening to the Neil Boortz Show, and this-is-Herman Cain.

Interesting how he doesn’t “oppose” an audit, yet he thinks it’s a waste of money? He isn’t opposed to wasting money? It doesn’t “bother” him if Congress wasted more money? So much for his dismay at the 14 trillion dollar national debt, but again, I digress.

Let’s do a little Google search on the word ignorant.

1. Lacking knowledge or awareness in general; uneducated or unsophisticated.

2. Lacking knowledge, information, or awareness about something in particular: “ignorant of (the Federal Reserve).”

Is this so different from “I think a lot of people are calling for this audit of the Federal Reserve because they don’t know enough about it.” The worst that Dr. Paul can really be accused of here is that he summarized what Cain said due to time constraints and the fact that it was but one of several points he made. We can only ask, what exactly does Herman Cain mean when he uses the word “ignorant”? Surely he doesn’t use it in the same sense that a teenage girl would use when she calls someone “ignorant,” when she really means “arrogant.”

This would be enough on its own, but Cain then decides that in order to save himself from the humiliating task of addressing the fact that he was wrong about what would be found once the Fed was audited, coward that he is, he tried to humiliate Ron Paul. “Now, so, you’ve gotta be careful of the stuff you get off the Internet, because that’s just not something I’ve said.” Immediately after he denies calling the Ron Paul folks “ignorant,” he then proceeds to insinuate that they are ignorant, stupid, dishonest, gullible incompetents. I almost put my fist through the screen. (Good thing I wasn’t sitting next to him.) Ron Paul is the most knowledgeable and intellectually honest man in politics, period, and he’s written many scholarly and insightful books on matters of economics and politics, not just some self-procured puff piece for his ego.

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