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Denninger vs Mish: At War Over Dennis Kucinich's Bill To End The Fed

• Market-ticker.org
 
The response from Shedlock to my previous missive on Kucinich's bill is amusing. Denninger is not the only one who is stunned. I am stunned that anyone could support this preposterous idea, assuming they read it and are sober. Neither sound money nor the free market comes from printing money into existence. Arguably the only thing worse than the Fed printing money out of thin air is Congress printing money out of thing for the purpose of full employment and/or any other absurd ideas Congress has. As opposed to loaning it into existence at gunpoint (literally in the case of TARP, QE1 and QE2), as is done now? The last thing we need, the very last thing we need is Congress lending money into existence to pay the bills or to do anything it wants for any reason. Those looking for hyperinflation can find the roots of it in that bill. Might I remind Mish (or should I rename him as "Mush", as in "for brains") that the bill contains an explicit provision prohibiting that which he claims will happen?

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