Posted on 08/29/2009 7:47:33 AM PDT by TigerLikesRooster
THE FEDERAL RESERVE MUST DIE
“Paper money eventually returns to its intrinsic value ---- zero.” – Voltaire
“The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit created out of thin air can provide sustainable economic growth has delivered this crisis to us. Instead of economic growth and stable prices, (The Fed) has given us a system of government and finance that now threatens the world financial and political institutions. Pursuing the same policy of excessive spending, debt expansion and monetary inflation can only compound the problems that prevent the required corrections. Doubling the money supply didn’t work, quadrupling it won’t work either. Buying up the bad debt of privileged institutions and dumping worthless assets on the American people is morally wrong and economically futile.” - Representative from Texas Ron Paul questioning Federal Reserve Chairman Ben Bernanke
I’ve read and witnessed various pundits during the Presidential campaign describe Ron Paul as crazy. The corrupt tax and spenders in Congress know their days would be numbered if they followed his vision of government. After reading his tremendously sane rebuke of Ben Bernanke and the policies of his Federal Reserve, I’m reminded of a classic scene from Seinfeld.
Jerry: “Ah, you're crazy."
Kramer: "Am I? Or am I so sane that you just blew your mind?!"
Jerry: "It's impossible!"
Kramer: "Is it? Or is it so possible that your head is spinning like a top?!"
Jerry: "It can't be."
Kramer: "Can it? Or is your entire world just crashing down all around you?"
Jerry: "Alright, that's enough."
Kramer: "Yaaaaaaahhh!!!"
(Excerpt) Read more at theburningplatform.com ...
Ping!
Congress created the crisis, not the Fed.
Did you hear about the misinformation in auditing the fed?
I actually had to issue an apology since I ran with the Washington Post story
http://www.ronpaul.com/2009-08-28/barney-frank-didnt-say-that-hr-1207-will-pass-in-october/
Ron Paul and Seinfeld!? I read no further even though it looks like he has a good point.
I can’t cope with nuts this morning.
Well, that's a gross exaggeration. The Fed has destroyed only 95% of the value of the dollar since it was formed in 1913.
A few other articles you should see
http://www.freerepublic.com/focus/f-news/2327264/posts
http://www.freerepublic.com/focus/f-news/2327265/posts
http://www.freedomsphoenix.com/News/056456-2009-08-28-2009-bankfailure-tally-climbs-to-84.htm
Not quite...we can always use it for toilet paper. At least we would have one up on Cuba, for a while.
Correct, requiring banks to lend to those who couldn't repay, spending more than they receive in taxes, and confiscatory tax rates will do us in always. The value of the dollar has stayed remarkable steady through this mess, so the Federal Reserve has been able to accomplish it's primary task.
Disagree. It is only because of paper fiat currency that America has been able to get in such enormous debt.
http://goldismoney.info/forums/
The Germans used their fiat bucks eventually as fuel for their fireplaces.
There is no such thing as “real” money.
Contrary to popular belief, the government doesn’t just print fiat money. The government actually borrows fiat money (Federal Reserve Notes) from the from the private Federal Reserve bank. The Federal Reserve doesn’t actually have anything to lend to the government, they just create this money electronically by crediting the accounts of government securities dealers. Our national debt is actually our monetary base, and if it were paid back there would be no money in existence. The other 95% of our money supply is created by banks, not the government, by using the fractional reserve system with the Federal Reserve at it’s heart.
The most important thing to remember is that we have a debt-money system. Money is Debt. Money can only come into existence when someone borrows it into existence.
This is correct. It is the biggest scam in history. Why should we pay interest to private bankers for doing next to nothing?
Ping
Elements. Any value humans put on them are cultural artifacts.
Grab a match and set their clothes on fire, throw the bums out. They are liars cheaters and need to have some fire set to their feet and policies.
NATIONALIZED THE FED OR DESTROY IT.
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