Federal Reserve Printed $432 Billion Out Of Thin Air When Herman Cain Was At The Fed

As I have pointed out before, you have to watch Herman Cain carefully, the man makes stuff up on the spot. During the debate last night, Cain denied saying that an audit of the Fed was unnecessary and that those who felt an audit was necessary were uninformed.

Rick Fisk writes to Lew Rockwell:

The question [Ron Paul] asked was about Cain's libel and slander of Paul's supporters who have on several different occasions for dared to confront him about the Federal Reserve. Cain called such questions 'stupid' in his book. He also, when as a guest host for Neil Boortz's radio show, said that the only reason people were asking questions about the fed are because they 'don't know what's going on'.

HuffPo in the below clip features what Cain said last night and how different his comments were on a radio show that he hosted.

Also, note that Cain said things were different when he was at the Fed, relative to what is going on at the Fed now. Oh yeah, sure.

Cain was deputy chairman of of the board of directors of the Federal Reserve Bank of Kansas City from 1992 to 1994 and chairman from 1995 to 1996. During that period the Federal Reserve printed $432 billion in money (m2) out of thin air.

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