Peter Schiff Announces Run for Connecticut Senate Seat

http://www.schiffforsenate.com/index.php/site/news_detail/peter_schiff_announces_bid_for_us_senate/

The opposition has already issued statements criticizing Schiff, moments after his announcement this morning, including pointing out his lack of experience in Washington and politics. This lack of experience is one of Schiff's greatest assets in this race, as the Washington elites and career politicians have been the source of our problems through their misguided policies, decisions, and meddling in the economy. If Schiff is able to secure the Connecticut seat (and it will be difficult, given the four Republicans he will face for the primary before challenging Chris Dodd), we will be assured of at least one voice of reason in the Senate regarding our economy and the tough choices that lie ahead.

Why Doesn't the Federal Reserve Know What It Did with $10,000,000,000,000?

If you enjoyed the clip from my July 23 post depicting Rep Grayson (D) excoriating Fed Chairman Bernanke, then you will certainly revel in his skewering of Fed Inspector General Elizabeth Coleman:

http://www.youtube.com/watch?v=cJqM2tFOxLQ

The clip is self-explanatory, but in short, the individual with the responsibility for internally auditing the Fed has no clue who received $1,200,000,000,000 in recent Fed loans, nor does she have the slightest idea how another $9,000,000,000,000 in off-balance sheet transactions in the last eight months came to be. The supreme incompetence on display at our nation's central bank should be frightening at best, and worthy of vigorous investigation at the very least.