Herman Cain made a false claim during debate

[GALTGULCH8]

http://www.ronpaul20...s-fed-position/

Maybe Cain just forgot, to give him the benefit of the doubt. The video and story is on a "The Huffington Post" report.

http://www.huffingto..._n_1006228.html

"Mr. Cain, in the past you have been rather critical of any of us who would want to audit the Fed. You have said -- you've used pretty strong terms, that we were ignorant and that we didn't know what we are doing, and therefore, there was no need for an audit anyway, because if you had one, you're not going to find out anything, because everybody knows everything about the Fed," Paul said.

"But now that we have found and we have gotten an audit, we have found out an awful lot on how special businesses get bailed out -- Wall Street, the banks, and special companies, foreign governments. And you said that you advise those of us who were concerned, and you belittled -- you say call up the Federal Reserve and just ask them. ... Do you still stick by this, that that this is frivolous, or do you think it's very important? Sixty-four percent of the American people want a full audit of the Fed on a regular basis."

Cain said that, in fact, he didn't oppose an audit, and that when he served on the Fed it was a different institution. You have misquoted me. I did not call you or any of your people ignorant. I don't know where that came from, he said. You've gotta be careful of the stuff you get off the Internet.

A careful check of the Internet, however -- guided by the Paul campaign -- turns up audio of Cain saying just what Paul accused him of saying. As recently as 2010, long after the Fed began engaging in the lending Cain says he opposed, Cain belittled those calling for an audit.

"Some people say that we ought to audit the Fed. 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 gonna learn this great amount of information by auditing the Federal Reserve. I think a lot of people are calling for this audit of the Federal Reserve because they don't know enough about it. There's no hidden secrets going on in the Federal Reserve to my knowledge," he said.

During the debate Cain forcefully denied the allegation and made Paul seem to be misguided in his attack but how many will learn the truth?

Ron Paul certainly has singlehandedly drawn attention to the role of the Fed as a major factor in our economic crisis, not to mention such historical consequences of Fed action as The Great Depression of the thirties and other assorted inflationary periods and recessions.

I got up early the day after the debate and went to the Wall Street Journal site where I found an article concerning the debate and no one had posted a comment yet. It had occurred to me that I wished that Ron Paul had mentioned, for the benefit of anyone wanting to know more about the Fed, G. Edward Griffin's expose: The Creature From Jekyll Island, which discusses the history of central banking in America and the secret origin of the Federal Reserve Act of 1913. So I put up the very first post on the www.wsj.com site to that effect. Perhaps someone will take the trouble to find the book, but Ron Paul had an audience of several million and missed the opportunity!