Diary

Sen. Chris McDaniel: Audit and Abolish the Federal Reserve

Mississippi State Sen. Chris McDaniel, a national leader in the conservative and liberty movements, has thrown his weight behind the latest push by Kentucky’s Sen. Rand Paul and Rep. Thomas Massie to finally force a full audit of the Federal Reserve, a project begun by former Texas Rep. Ron Paul. President-elect Donald Trump has also endorsed the effort.

Beyond simply auditing the central bank, McDaniel also made clear he supports ending the institution. Created in 1913, also the inaugural year of the income tax, the Federal Reserve has fueled our boom-and-bust economic system, created perpetual inflation, and enabled the federal government to multiply it’s capacity to add debt.

In an era of increasing sympathy for central economic planning, it is encouraging that some still have the courage to defend capitalism, including free markets in banking and money.

Keep an eye on Sen. McDaniel. He may challenge Roger Wicker for U.S. Senate in 2018.