Thomas Sowell: Federal Reserve a 'Cancer'

88spammer Says:

Mar 18, 2012 - I am a huge Ron Paul fan and also an Australian.In the time of the GFC we also had a slight bailout(which i don't agree with) and it was partly given to the people, we received a $900 check in the mail from K Rudd.Given that we are doing reasonably well (in certain aspects), we are still 1.4 Trillion in debt and worse than before the GFC.Point being that, that money was ours to begin with but the debt wasn't, so how could've and did it work? I believe the best way would have been

urwholefamilydied Says:

Mar 19, 2012 - I'm surprised Sowell was reticent to talk about whether a gold standard or a fiat system would work better than the other?! I get that it's a separate argument like he said... but to sort of dismiss it like it's even an debatable seemed ridiculous to me. OF COURSE A GOLD STANDARD IS BETTER THAN FIAT MONEY. How would he even dismiss that as debatable?

urwholefamilydied Says:

Mar 19, 2012 - I also think it's weird that Sowell who is so on tip with austrian economics and freedom... doesn't ever really mention ron paul. This video was the closest I could get to finding a google search with ron paul and sowell... even when the question of paul's take on the federal reserve was brought up... sowell never mentioned paul's name or gave him props at all. Really strange to me. I get that he's separating his ideas from politics... but PLEASE... sowell can't throw the guy a nod?

mtanousable Says:

Mar 20, 2012 - "Save the whales and clean up London? Are you kidding? No one, rich or poor, evil or benevolent, has done either."I don't know about London, but Rockefeller saved the whales. Specifically, he replaced the use of whale oil with cheap kerosene in his drive to become rich, which effectively ended whaling as a major industry. Now, except for some Japanese that kill whales for food, whales are pretty much left alone.

Slayer8957 Says:

Mar 20, 2012 - he was asked whether to replace the fiat standard with a gold standard. the fact, the government cannot be trusted with a monopoly on money. even if one was re-instituted, another President can come along and take us off, and wed be right back where we started. its better to denationalize money. let individuals and businesses coin their own money and issue their own banknotes backed by whatever commodity they please. let the free market decide what will be money,not government

Slayer8957 Says:

Mar 20, 2012 - Sowell is one of those people who oppose the welfare state, police state, prison state, central banks, income taxes, and all the other things libertarians oppose. however, he supports the warfare state, and our current foreign policy. for whatever reason, they disagree with the idea that the function of the US military is to protect US soil, and nothing else. believe it or not, he endorsed Gingrich because of this. its unfortunate, really.

DRourk Says:

Mar 21, 2012 - Rockefeller did absolutely no such thing. Whaling for oil was already almost kaputt by the time Rockefeller came along. Kerosene derived from coal and shale did much to end Whaling long before John D. came along. Even so, John D. didn't invent drilling for oil, nor the market for it. The Rockefellers really have not contributed much positive in any way to the world, and that is also true of just about all of the other robber barons. They really are evil people.

yesnonotexactly25 Says:

Mar 21, 2012 - I think the reason that he didn't was because if he did then the whole conversation and all the questions would have been about what he thought of Ron Paul's beliefs and if he supported them or not. I'm not saying that his support of Paul would have been bad (I actually think it would be a super cool if they admired each other's policies), but he just didn't want the conversation to turn into what others advocate when he's the one that's being interviewed, you know?

yesnonotexactly25 Says:

Mar 21, 2012 - I guess the reason that the guy was so shocked is that most economists of today wouldn't take the conversation in that direction at all, so it was a bit of a change from the norm (yay!) :D

saveyoursoulyt Says:

Mar 24, 2012 - Brilliant and intelligent man.  Wish there was more of him.

BenjiEDF Says:

Mar 26, 2012 - "If someone removes a cancer what replaces it?" LOL, I like this man.

mtanousable Says:

Mar 27, 2012 - Your history is off. Kerosene from coal and shale was not cheap, especially when compared to whale oil. Kerosene only became cheap when John D. started extracting it from crude oil. "The Rockefellers really have not contributed much positive in any way to the world" Except for John D. helping to fund Lincoln's presidential campaign and abolitionist groups. Although, I suppose you will find some excuse to write off the abolitionist streak of Rockefeller./watch?v=4Vw6uF2LdZw

EKwisnek Says:

Mar 31, 2012 - It's these statements that confirm Sowell as one of our great minds in modern times.

btr2oz Says:

Apr 4, 2012 - Everything that starts out as an entitlement. Name us one entitlement that worked? There isn't one.

USNDeepsea1991 Says:

Apr 13, 2012 - W.I.C.

btr2oz Says:

Apr 14, 2012 - Pretty lame.

USNDeepsea1991 Says:

Apr 15, 2012 - Not really. I actually am a serious conservative. I don't like most government involvement. But, this program might actually be worth wild. Healthy moms and children are actually a good thing for our society. The cost for wic is small compared to unhealthy moms and children showing up in the emergency room, with problems that could have been avoided. That said, I want to get rid of most government programs.

btr2oz Says:

Apr 17, 2012 - Me too!

djs259 Says:

Apr 19, 2012 - When he says "the Federal Reserve is a cancer", what he really intends to say is "Jews are a cancer".You can take that interpretation to the bank--no pun intended.

sniped101 Says:

Apr 20, 2012 - wow.. thats amazing

sniped101 Says:

Apr 20, 2012 - it doesnt work. 21% of the money goes to to the people that need it and the other goes to beurocrats. a voluntary donation that pledges to give 90%ish to the people and actually get from improving within the month.

sniped101 Says:

Apr 20, 2012 - damn... thats a good one.

djaifmt Says:

Apr 20, 2012 - say more fool.

sniped101 Says:

Apr 20, 2012 - what do you place it with?