Posted on 01/10/2011 6:17:58 AM PST by IbJensen
The Patriot-Liberty movement has railed against the Federal Reserve for decades. Inexorably attached to the abolishment of the private banking monopoly, the entire political career of Ron Paul is an inspiration for any citizen who values liberty and defends the U.S. Constitution. The Federal Reserve is the Enemy of America.
The central cause for the financial collapse of the country rests upon the fractional reserve debt created money racket, which relegates the taxpayer to chattel slave status. You know this is true, and the politicians fear that at some breaking point you will rise up and force a return to honest money.
Ron Paul states the obvious in the Congressional Record.
“Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of the special interests and their own appetite for big government.
Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy”.
Is it possible to replace a private banking cartel as the issuer of money? Career politicians spend trillions of Federal Reserve Notes that accrue interest payments upon the very creation of money. In this political environment, can this tribute payable to the central bank, be eliminated?
Listen to an NPR radio “All Things Considered”, and compare the fairy tale viewpoint of the role and function of the Federal Reserve by NPR to the rational and fiscally sound solutions that Congressman Paul presents. The apologists for the central banking swindle are “Tools” not of capital but of elite’s bankstersthat hold hostage an entire economy. Business no longer has the effective ability to overcome the excessive burden of unnecessary systemic interest. This is the inevitable consequence of a debt pyramid, when governments are required to pay tribute on money created by an accounting addition. It is sad that self-professed intellectuals are so ignorant of the functions and ultimate purpose of the Federal Reserve.
Viewing Ron Paul 0wnz the Federal Reserve and on Dylan Ratigan Jan 6 2011 provides valuable background and a hint of what may be possible. Expectations need to be realistic. While the dam is buckling and a flood is poised to wipe out the valley, only a perspective from high ground can attempt to ease the pain, which is inevitable. Paul is playing down the immediate prospects of replacing the Fed, not because he lost his nerve, but because of the squishy, all things considered mentality, that permeates the society. In order to right the ship of state, the bailing needs to start with stopping the bail outs.
Such measures are pale when placed in context with the real power that rules both the money centers and the political suites. Remember your history before you risk its repeat . . .
“The high office of the President has been used to foment a plot to destroy the American's freedom and before I leave office, I must inform the citizens of this plight.” — President John Fitzgerald Kennedy - In a speech made to Columbia University on Nov. 12, 1963, ten days before his assassination!
Challenging the Central Bank stands as a risky venture and surviving not always guaranteed. The following is from President John F. Kennedy, The Federal Reserve And Executive Order 11110.
Section 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended-
By adding at the end of paragraph 1 thereof the following subparagraph (j):
(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12,1933, as amended (31 U.S.C.821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denomination of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption
and --
By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
Sec. 2. The amendments made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.
John F. Kennedy The White House, June 4, 1963.
Just coincidental or is there a direct message when one seeks to remove the gravy train from the inside circle of the real conspirators? Note that devoted followers of Ron Paul need to recognize that one man standing alone needs protection. The best way to secure that a serious audit of the Federal Reserve will take place is to coordinate among all factions and ideologies the imperative requirement that the Central Bank is accountable to the People. An audit is not nearly the resolution to replace the Fed, but it can be the starting point to invoke righteous outrage of the populace that might spread to the newly elected representatives on the Hill.
If Congressman Dennis Kucinich can agree with Ron Paul, The Tea Party freshmen can take the leap. In 2007, Paul Introduces H.R. 2755: To Abolish the Federal Reserve. Section (b) Repeal of Federal Reserve Act- Effective at the end of the 1-year period beginning on the date of the enactment of this Act, the Federal Reserve Act is hereby repealed. The enactment of this simple directive would be the most earth shattering and economic liberating action seen in the lifetime of everyone alive. If you doubt this conclusion, examine the significance of the American Financial Stability Act of 2010. Thomas R. Eddlem states, “In short, the bill would allow any investment risks that federal government regulators find acceptable and ban any regulators find unacceptable”.
Federal Reserve Bank of Philadelphia admits that the Dodd-Frank Financial Reform Act will increase the power of the Fed.
“The Financial Stability Act establishes the Financial Stability Oversight Council, which will have the responsibility to promote market discipline, coordinate with other regulators to identify and respond to threats to financial stability, and resolve gaps in regulation.
The council will have the authority to place a systemically important financial institution under the supervision of the Federal Reserve. Nonbank institutions may be required to establish an intermediate holding company to be regulated by the Federal Reserve and may be required to divest holdings. The Federal Reserve, in consultation with the council, will tighten prudential standards for the large, interconnected BHCs and financial institutions it supervises. These firms will undergo annual stress tests and will be subject to credit exposure limits. Conferees added a House-passed provision that will require such institutions to maintain a leverage ratio of 15 to 1”.
Just imagine expanding the Fed to regulate banking when the Federal Reserve should be under the microscope as the most vicious criminal syndicate of all time. When the Central Bank buys government bonds that must pay interest by the Treasury, this rigged game of extortion is out of control. “Now with holdings of $821.1 billion, the Fed is officially the second largest holder of U.S. Treasury’s, next to China and is just $25 billion away from being the Treasury's largest creditor”.
The Daily Paul is the flagship site for all things Ron Paul. Their total number of visits since 1/21/2007 reported to be over 42,403,507. The Ron Paul Forum on Liberty Forest has over 27,290 members. Both services have a devoted and loyal following. Nevertheless, this core group of activists is not enough to drive a national campaign with a single purpose. ABOLISH the Federal Reserve.
A Bloomberg National Poll conducted by Selzer & Company, has the top two issues as Unemployment and jobs at 50% and the Federal deficit and spending at 25%. The jobs and deficit issue is a direct result of the criminal central banking system. A major component of excessive spending is interest. In FY2010, the Treasury Department spent $414 Billion of your money on interest payments to the holders of the National Debt. The reason for the decline in the purchasing power of the Dollar is inescapable. In order for Ron Paul to lead the crusade against the Fed, he needs a bodyguard of millions to save the American Dream. The life you save is really your own.
If you eliminate fractional reserve banking, you’re eliminating banking as we know it. You’re left with bank time deposits.
And I bet even then you wouldn’t really eliminate the possibility of bank runs. Any bank that was rumored to be in trouble, would have people showing up trying to get their time deposits back earlier than agreed.
But a lot of capital would be setting on the sidelines, unable to earn interest because their owners aren’t willing to commit to a timeframe.
Again, where has this scheme worked. Didn’t the Austrian school actually try this in Austria for a short amount of time before it was abandoned?
I'm not aware of,or even if there is such a thing as a Austrian School bank, but an era that I would consider more Austrian( ish ) would be America from it's discovery, up to the founding of the Federal Reseve( with the exception of the Civil War ).
We had basically free banking. Although most banks were state chartered banks. It wasn't centralized and we had US God dollars as a bench mark. I think that was our best period, all considering.
Look at that era's phenomenal, real,physical growth in real, physical capital. In population,in internal improvements, in cities built, wealth, increase in living standards and quality.
Now, many of our once great, productive wealth producing centers( cities ) are tax consuming, welfare spawning, pension debt centers. Zombie cities, kept alive by financial shenannagans. Even state now, take California, Michigan, Illinois. Those were once states so wealth creating, that we named battle ships after them. Now productive people and companies of productive people flee them.
Non of this AT THIS SCALE would of happened in the pre Federal Reserve banking system. These companies, states would of been spanked, hard.
I guess we now live in a era of Self Esteem Government where every one is equal.
Hardly makes my deposit available to me upon demand.
You don't have clear title to your bank account?
Legally, sure. Until everyone else wants their deposits as well. Then the rules change for some reason.
Why would banks accept demand deposits?
For storage/security fees.
It's a bad idea.
Heh, cause fraud is such a good idea. Gotcha.
How available was your deposit when you tried to cash in your CD early?
Heh, cause fraud is such a good idea. Gotcha.
Did you prove fraud on this thread? Which post was that?
How old were you when you discovered banks could pay interest because they made loans? Was it recently?
My deposit is NOT available to me if I used it to purchase a CD. That is what a time deposit is all about.
What's the matter? You didn't address my comment about clear title to my demand deposit. Under normal circumstances, I can at will gain access. But why should the laws have to change if others wish to gain access to their demand deposits at the same time?
That is fraud. There is no need for legal banking protections if banking is honest.
No, just remembering that I was probably 5 years old when I first understood interest, loans and deposits. I never thought fraud was involved, why do you?
My deposit is NOT available to me if I used it to purchase a CD.
You can withdraw money in a CD.
You didn't address my comment about clear title to my demand deposit.
You have clear title.
Under normal circumstances, I can at will gain access.
Excellent! Then why are you confused?
But why should the laws have to change if others wish to gain access to their demand deposits at the same time?
The laws don't change.
How does fractional reserve banking fit in this definition? Or maybe you have a different definition in mind?
The laws don't change.
You are correct. They are already written and don't need to change, because this has happened many times already. But as you still refuse to acknowledge, I WILL be refused access to my demand deposit, if too many others wish access to theirs. The bank can and must refuse my demand, and everyone else's. Simply because they wish access to what should be available to them upon demand. It may be legal, but that doesn't change what it really is.
You do not think it an "intentional perversion of the truth" for a bank to say that you may demand access to your deposit at any time. When they know for a fact, that the simple act of mass redemption makes that impossible?
And you are incorrect.
But as you still refuse to acknowledge, I WILL be refused access to my demand deposit
You haven't been refused access yet you still claim fraud?
Maybe you should post the agreement you signed when you opened your account?
Did you look at the chart? Prices are almost exactly the same in 1870 and 1910.
Hmmm, are you hinting that perhaps I don't really have clear title to my demand deposit? Do I not really have the ability to demand my deposit back at any time?
Imagine that.
That's not what the chart says.
No.
Do I not really have the ability to demand my deposit back at any time?
You can demand it at anytime. Imagine that.
Sure I can make the demand. But the bank has no obligation to return my money if too many wish the same.
It OK. You can admit it. We all know already. Go ahead. Its OK. Really.
You think the bank can keep your money? Forever?
You can admit it. We all know already.
That there is no fraud involved? Do we all know that?
I guess we are done then. thx
Why wouldn't I acknowledge that bank reserves are smaller than their deposit base?
If you ever read your account paperwork, I'm sure it will say something like, "You can access your demand deposit at anytime, certain restrictions apply".
Maybe you'd stop crying fraud?
The banking panics of the 1800's were caused by this fraud. The problem is that like any other ponzi scheme, it must have new inflows to keep moving forward. The central bank as lender of last resort cured the symptoms, but really just expanded the ponzi base.
Bernie Madoffs victims were thrilled right up til the end too.
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