The Best Hope for Restoring the American Dream Now Lives in the US Senate

Sen. John Cornyn (R-Texas) (photo credit: Gage Skidmore)
Sen. John Cornyn (R-Texas) (photo credit: Gage Skidmore)

Who will conjure the American Dream back for us?

Politics is part prestidigitation, part reality. A great magician distracts her audience’s attention while producing the payoff. Abracadabra!

Want to see how it’s done? Focus on the hidden hand.

In this case, the United States Senate.

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Money matters.  Bad money “engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”  Bad money “is noticed by only a few very thoughtful people … gradually overthrows governments, and in a hidden insidious way.”

Lucky for America, we have, in the Congress that “one man in a million” riding to our rescue with a proposed monetary commission  Actually, greatly against the odds, we have several: Rep. Kevin Brady (the monetary commission’s prime sponsor), Rep. Jeb Hensarling (Chair of the committee of jurisdiction, House Financial Services Committee), and Rep. Paul Ryan (Speaker). Together almost unheralded, they got this antidote to what is stifling American job creation passed last November.

The Congressional Research Service summarizes it:

This bill establishes the Centennial Monetary Commission to: examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time… and recommend a course for U.S. monetary policy going forward.

This excellent piece of legislation could finally smoke the snake out from the wood pile. It now sits in the World’s Greatest Deliberative Body, the United States Senate.

It portends as crucial to restoring the American Dream.

Its prime Senate sponsor,  another “man in a million,” is no less than the Honorable John Cornyn, the #2 leader of the Senate and Senate Whip. Bonus: it is in the jurisdiction of the excellent Senate Banking Committee Chairman Richard Shelby.

It emerged into plain view last month. So, thereby, did the pathway out of the no-jobs box canyon into which Washington has ridden America.

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Read the full article at Forbes.com.

Ralph Benko, internationally published weekly columnist, co-author of The 21st Century Gold Standard, lead co-editor of the Gerald Malsbary translation from Latin to English of Copernicus’s Essay on Money, is American Principles Project’s Senior Advisor, Economics.