The false hope of Herman Cain

The false hope of Herman Cain
Vox Day
Posted: May 23, 2011

For an activity that nominally purports to concern itself with leadership, politics is essentially a game of tail-chasing. In a two-party system, or more accurately, a bifactional single-party system of the sort we suffer here in the United States, winning national elections is usually considered to rely upon slicing off a critical two percent from the least-committed, least-principled, most moderate portion of the other faction's supporters. Since the winner of the previous election succeeded in claiming critical center, it is customary for the losing party's next candidate to in some way mimic the previous winner in an attempt to reclaim the crucial minority.

So, it should come as no surprise that after having been ambushed by Barack Obama's unexpected defeat of an uncharacteristically inept campaign by Hillary Clinton, some Republicans have decided that they need a "magic negro" of their own. After all, what could counteract the uplifting post-racial appeal of the first half-black, half-American president so well as a presidential candidate who is an authentic American black man, with no unsettling questions about his birth, his Social Security number, his college records, his religion and even his name? Moreover, Herman Cain is a man of legitimate accomplishment; he is not only well-spoken, but has proven himself capable of stringing more than two resonant sentences together without the use of a teleprompter.

Nevertheless, his many fine qualities notwithstanding, Herman Cain should not be the Republican Party's candidate for president for two vitally important reasons:

1) He is poorly suited to lure the marginal center away from Obama. White voters who are disenchanted with the false promise of Obama's post-racialism will not be motivated to vote for its Republican version, however genuine it might be. Black voters, on the other hand, have not historically been favorably impressed by black Republicans and are very unlikely to abandon a Democratic poster president, even though Cain is much more genuinely representative of American blacks than the Indo-Kenyan American who presently claims that role.

2) He is not even close to being a genuine conservative on the single most important issue presently facing the nation. Indeed, both his economic philosophy and his employment record are quite literally Communist. In the fifth of the "10 Planks" of the Communist Manifesto, Karl Marx demanded "Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly." In the United States, credit has been centralized in an exclusive government monopoly granted to the Federal Reserve; Mr. Cain was the deputy chairman of the Federal Reserve Bank of Kansas City from 1992-1994 and the chairman from 1995-1996.

Now, despite his five-year career as an elite bankster, Cain cannot be seriously regarded as one culpable for the massive credit booms and the various financial crises that were their inevitable consequences. Unlike Alan Greenspan and Ben Bernanke, Cain was not at the Federal Reserve proper or its flagship New York bank; it is also worth noting that his two terms of office at the bank preceded the periods of frantic money pumping that took place in 1998 and 2001 and launched the tech and housing bubbles. However, on the Neil Boortz show, his answer with regard to a prospective congressional audit of the Federal Reserve missed the point so completely that it leaves the informed observer wondering if the man is deeply disingenuous or astonishingly clueless.

"Some people say we ought to audit the Federal Reserve. Here's what I do know. The Federal Reserve already has so many internal audits it's ridiculous. I don't know why people think we're going to learn this great amount of information from the Federal Reserve. … Here's the advice I give to people who think we ought to audit the Federal Reserve. Call them up and ask them if you can have one of their PR people explain to you how the Federal Reserve operates. I think a lot of people are calling for the audit of the Federal Reserve because they don't know enough about it! There's no hidden secrets going on the Federal Reserve to my knowledge. We've got 12 Federal Reserve banks, find out which district you're in, call them up and go from there! We don't need to waste money with another commission or an audit. It's not necessary. Because, folks, we've got a lot of other problems we need to worry about."

This is untrue. There is no bigger or more central problem facing America than the one posed by its current financial system.

Furthermore, it is almost painful to have to point out that an internal audit is absolutely no use to parties outside the Federal Reserve system. The entire point of having an external audit is to determine the extent to which the Fed has been engaging in fraud and other criminal activities given that its highest officers have openly confessed to actions that clearly exceed its charter from Congress, and in some cases, even appear to violate the law. Given that major media organizations such as Bloomberg News were forced to file suit in federal court to learn what securities were being accepted by the central bank as collateral for trillions of dollars in illicit loans provided to various international banks, it is simply ludicrous to suggest that anything significant can be learned by a private individual telephoning the district office of a regional bank.

Herman Cain is far too financially and economically dubious to be given any serious thought as a conservative presidential candidate. Since the Federal Reserve is the primary cause of America's ongoing economic depression, it would be the height of stupidity to nominate one of its foxes in the expectation he will put right the American hen house.

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