Sarah Palin is so dumb, she understands the Federal Reserve

The woman the left loves to hate, the usual accusations of stupidity and incompetence are plentiful.  Accusations of Bush's stupidity were equally commonplace, what is it with the left and intellectual elitism?   Palin's perception even among limited government folks is not much different, just a few days ago a friend of mine threatened to move out of America if Palin ever became president.  It was a bit shocking to hear, considering how strongly he despises liberalism. 

My personal issue with Palin and why I would never support her was her support for TARP and her political loyalty.  Loyalty and favoritism do not belong in politics, they breed problems.  Palin standing by John McCain was comfounding to me considering McCain's awful track record and his growing case of RINOism.  Her social conservatism is off-putting because of the frequency that it is employed.  Social conservatism on a personal level is a trait I encourage, even if I disagree with the viewpoints, but a lot of Americans resent having religious ideas being spread through political ploys.  As always, being a hardcore Conservative her inability to see the true costs of war and our world police status will prevent her from spreading true fiscal sanity.

However those accusing Palin of being 'dumb' or 'stupid' need to step back and realize that we are in no position to judge, for none of us have walked in her shoes.  She is also bravely waging war against the entrenched elitism of the American upper crust, a trait that the Founding Fathers could be proud of.

Today, Palin's credibility shot through the roof. At this moment, with the elections behind us, there is nothing more important than what is happening with our economy.  Specifically our economy being hijacked by the men of the Federal Board of Governors and their leader, Chairman Ben Bernanke.  Outside the jurisdiction of both Congress and the President this group decides the fate of our financial lives.  Deciding how much our savings our worth, how much gas costs, how much food costs, housing, stocks, bonds, in short, everything.  Now is the time to speak out and now is the time to separate real politicians from corporatist establishment hacks.   Ron Paul has been fighting this lonely battle for years, but his ranks are growing.  Jeb Hensarling, Michelle Bachmann, Justin Amash and Cathy Rogers, Jim DeMint and now Rand Paul are joining the fight. 

Perhaps we can add Sarah Palin to the mix?  This is the first time Palin has spoken on the issue, so perhaps it is too early to celebrate, but the content and the tone is inspiring.  For a national figure of such popularity to bring this issue out in the public is stunning and inspiring.  NRO has a portion of her upcoming speech:

I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.

The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.

And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?

All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher. And it’s not just groceries. Oil recently hit a six month high, at more than $87 a barrel. The weak dollar – a direct result of the Fed’s decision to dump more dollars onto the market – is pushing oil prices upwards. That’s like an extra tax on earnings. And the worst part of it: because the Obama White House refuses to open up our offshore and onshore oil reserves for exploration, most of that money will go directly to foreign regimes who don’t have America’s best interests at heart.

We shouldn’t be playing around with inflation. It’s not for nothing Reagan called it “as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man.” The Fed’s pump priming addiction has got our small businesses running scared, and our allies worried. The German finance minister called the Fed’s proposals “clueless.” When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it’s time for Chairman Bernanke to cease and desist. We don’t want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It’s the only way we can get our economy back on the right track.

Not bad for a "dummy".  Let's hear what our super smart president has to say about this very same issue.

Update:  This would actually be the second time!  Thank you Susan for pointing this out.