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
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.
Ping
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.
Bump for a great article and good discussion.
Sad to see the vandalism in the keywords.
Why abuse the keywords? Why not just post?