TEABAGGED!!!

[The Libertine]

Hopefully, Bernanke and and Fed monetary policies will be teabagged soon. This is Tea Party influence on the Republican party.

Republicans Eye Return to Gold Standard

The gold standard has returned to mainstream U.S. politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy.

Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold.

The move shows how five years of easy monetary policy — and the efforts of congressman Ron Paul — have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate.

Marsha Blackburn, a Republican congresswoman from Tennessee and co-chair of the platform committee, said the issues were not adopted merely to placate Paul and the delegates that he picked up during his campaign for the party’s nomination.

“These were adopted because they are things that Republicans agree on,” Blackburn told the Financial Times. “The House recently passed a bill on this, and this is something that we think needs to be done.”

full article
http://www.cnbc.com/id/48770752

Romney Reiterates He Would Replace Bernanke.

Mitt Romney said Thursday that he would replace Federal Reserve Chairman Ben Bernanke, dismissing the advice of a top adviser who suggested this week that the chairman should be considered for a third term.

The presumptive Republican nominee told the Fox Business Network that as president, he would want to install someone new in the Federal Reserve post. Mr. Bernanke’s term ends in January 2014.

On Tuesday, Glenn Hubbard, a top economic adviser to Mr. Romney, told Reuters TV that Mr. Bernanke should “get every consideration” to stay on at the Federal Reserve, calling the chairman a “model technocrat” and saying that he deserves a pat on the back.

The Fed chief hasn’t said publicly whether he would want a third four-year term, but many of his acquaintances believe he wouldn’t. A Fed spokesman declined to comment.

Mr. Romney said he appreciates the counsel of Mr. Hubbard and others but reiterated his plans to replace Mr. Bernanke. He declined to say whether Mr. Hubbard, whom he called a wonderful economic adviser, might be a candidate for the job. Many people would be considered, he said.

full article
http://blogs.wsj.com/washwire/2012/0...lace-bernanke/