Mainstream GOP blog still does not understand the Federal Reserve, mocks Ron Paul.

I have had many issues with the way certain mainstream GOP blogs portray libertarian leaning candidates like Ron Paul and Gary Johnson, but sometimes they expose their own lack of understanding to such a point that it becomes impossible to ignore.

HotAir's self proclaimed RINO Allahpundit who is generally very "reasonable" decides to poke fun at Ron Paul because Paul found Rick Perry's comments about the Fed to be ridiculous:

Via Politico, the key bit’s at 4:00. Can we now safely agree that Perry went too far? When Ron Paul is taking shots at you for being fringe-y, you’ve crossed a line that no man should cross.

Except maybe in libertarian Waterworld.

“Now they have this other governor, I can’t remember his name,” Paul joked. “He realizes that talking about the Fed is good, too. But I’ll tell you what, he makes me sound like a moderate. I have never once said Bernanke has committed treason. But I have suggested very strongly that the Federal Reserve system and all the members have been counterfeiters for a long time.”

Old theory: Ron Paul’s too radical to win New Hampshire. New theory: Ron Paul — the great centrist hope?

Funny.  Really funny.  Except that Ron Paul is right and it would serve the HotAir readers quite well to understand the issue. 

Ron Paul's main issue and an issue he has been fighting for decades is the fact that the Fed inflates the money supply.  By inflating the money supply he makes everyone poorer if the inflation does not keep up with production output.  Starting around 2008 people are starting to understand this simple concept and the issue of the Federal Reserve has become more mainstream.  In fact I would say it is probably the single most important issue of every single economy in the world, because every economy runs on money.  If the very thing that every economy is being run on is constantly being debased and devalued then every economy is playing catch up.  

The issue in fact has become so mainstream that people like Palin, Bachmann and Perry have all jumped on the anti-Fed bandwagon.  I admire them for doing this, but there is really now way of determining whether they really have issues with our central bank or scoring political points.

Perry's insinuation that if Bernanke launches QE3 certain unpleasant things would happen got the attention of the media.

But he didn’t pass on Fed Chairman Bernanke. “If this guy prints more money,” Mr. Perry said, pausing, “I don’t know what you all would do to him in Iowa, but we would treat him pretty ugly down in Texas.”

While this may score political points with some folks it is indeed a brash and silly comment that is designed to generate buzz more than advance the issue of solving our most pressing problems.  Blogs like HotAir and other entrenched Republicans need to understand that the central bank has not only caused a great deal of instability in this country while undermining the working class, but they need to promote and defend people like Ron Paul who have fought against this institution for decades. 

There are enough Democrats and liberals who are completely void of any economic thought to provide ridicule, least we can get is some civility from the Republican side.