The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- I think I know some lab mice that have received less examination than the 2012 Republican primary candidates. It seems with each passing cycle, the campaigning starts earlier, there are more debates, and the media frenzy gets more intense.
Herman Cain: The Fed ChairmanCain's lucky he's known as "The Guy Who Makes Pizza" instead of "The Guy Who Prints Money." Herman Cain was chairman of the Federal Reserve Bank of Kansas City from 1995 to 1996, and held the positions of Deputy Chairman and Board Member during the preceding six years. This was the heyday of Alan Greenspan's bubble economy, and there is little record of Cain dissenting. While some have remarked that Cain knew little about economics when he joined the board, he had ample time to learn. Yet, when challenged to name his favorite Fed Chairman at this year's debates, Cain still chose Greenspan! Cain's flagship "9-9-9 Tax Plan" is drawing headlines, but it contains no in-depth discussion of monetary policy, other than brief allusions to a "strong dollar." No mention of quantitative easing or the money supply. No condemnation of artificially low interest rates.
- Bullish for gold
- Bearish for USD
Mitt Romney: The Closet DemocratConsider the following quote: "My experience tells me that we were on the precipice, and we could have had a complete meltdown of our entire financial system, wiping out all the savings of the American people. So action had to be taken." It sounds like Tim Geithner, Ben Bernanke or Paul Krugman. President Obama himself has said exactly the same thing countless times. Yet, this quote comes from Mitt Romney at a recent Republican debate. Romney supported the TARP bailouts. Romney defends the Federal Reserve. Romney even implemented socialized medicine as governor of Massachusetts. He says he would conduct monetary and fiscal policy "differently" than Obama, but when you're car is headed over a cliff, it doesn't much matter whether you drive on the right or left side of the road! Just as with Cain, Romney still does not understand the terrible precedent set by the bailouts, and the devastating consequences loose monetary policy has on the U.S. dollar and global economy. Worse yet, Romney hasn't even offered a credible plan to reduce government involvement in the economy. Romney's campaign slogan might as well be, "A New Face for the Status Quo." And the status quo is a collapsing dollar and skyrocketing gold. Romney Presidency:
- Very bullish for gold
- Very bearish for USD