It has been said many times before— the real threat to the U.S. will not come from abroad. Public consent is the all-prevailing power that will stir the nation this way or that. If we are to have any influence over the thinking of the people and redirect their present course we will need to convince a large portion of them that our way is the best.
Recently Senator Ted Cruz aggressively questioned Janet Yellen on the Fed’s possible role in causing the financial crisis and subsequent recession. In particular, he claimed that “in the summer of 2008” the Fed “told markets that it was shifting to a tighter monetary policy,” and that this announcement “set off a scramble for cash, which caused the dollar to soar, asset prices to collapse, and CPI [growth — RPM] to fall below zero, which set the stage for the crisis.”