The Fed, as you might expect, isn't exactly enthused about this bill. Fed Governor Jerome Powell calls it "misguided," and outgoing Fed President Richard Fisher, hardly a liberal, says it just shows that it's "convenient to create a bogeyman."
But Paul sees something more nefarious going on than people he disagrees with exercising their First Amendment rights. "The Fed, with unlimited power to print money," Paul says, "now prints that money to lobby against Congressional oversight."
That's quite an accusation. If it were true that the Fed was printing money to basically bribe Congress with, it'd be one of the biggest scandals in recent memory. Heck, if it were even true that the Fed was printing money at all right now, it'd be a big story since it stopped last year. So what's Rand Paul's proof? Oh, that's right. He doesn't have any. He's just saying unsubstantiated things to try to rile people up and raise more money from them.
Although maybe that's giving Paul too much credit. It's possible that he really doesn't know. Back in 2011, when inflation was 2.9 percent, he warned that Weimar-style hyperinflation was coming. Today, inflation is 0.7 percent, but he's still warning about it. So maybe he really does think the Fed is printing money, and maybe he really does think it's using this nonexistent money to lobby Congress with.
Like I said before, sometimes it's hard to tell the charlatans from the cranks.