Posted on 06/18/2007 7:12:19 PM PDT by BlackJack
H.R. 2755: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve...
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
(Excerpt) Read more at govtrack.us ...
Good idea, but it hasn’t got a chance.
The Fed didn't cause the rise in the stock market. We were under a strong dollar policy at the time, and the Fed kept their interest rates relatively high. The housing market partly benefited from money leaving the stock market and the capital gains exemption of 1997. Also the real estate boom was a global event not just in the US.
The Fed did have a hand in the stock market crash because it ignored signs of the market self correcting. It remains to be seen what they may do to the real estate market.
I’m unsure just what full effects of an unregulated money supply backed by metal could be worse.
The best metal backed money supply I'm aware of was run by the Bank of England. It was both regulated and well managed. A couple of the worst would be during the hyperinflation of the 1920's Germany's money was backed by gold, and in the United States the Bretton Woods foreign exchange system didn't turn out too well after the Democrat's spending spree in the 1960's.
Lincoln had the treasury print greenbacks, thats where the term
comes from. After the civil war we had no debt to pay bankers
interest on.
Kennedy had the treasury print silver certificates backed by the
1 billion oz of silver the USG had at that time. That silver is
gone today.
Some say thats why they were wacked...but there is no solid proof.
Its the exact same group of people. The creature from jekyl island.
Did you hear the joke about Bush and the GOP shoving amnesty & NAU down our throats?
(Sitcom laugh track)
bump for later read.
mkjessup
Relax ...meds is a joke.
Another quote from Jefferson:
Nothing gives a person so much advantage over another as to remain always cool and unruffled under all circumstances.
I am all for that, but not Ron Paul.
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What a fool. He’s making a joke of himself, and he’s the only one who doesn’t get it.
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Yeah but, unlike the left, we reject our nutroots.
Not broken?
National Debt is almost $10 trillion lol.
We don’t have to pay any interest on bonds.
The Constitution says Congress should issue money.
Not a private bank.
You don’t understand the system. The treasury can spend money
into the economy. Like Lincoln did with greenbacks to pay for the
civil war. Congress does not have to borrow money!
That we tax payers have to pay interest on! Thats why right after
Fed Reserve act 1913 the bankers got the IRS passed. To make
sure the guv would always have the tax (from people) to pay interest.
Its the biggest scam in hisory!
The man served in Vietnam as a flight surgeon. Plus he's a doctor who delivered thousands of babies.
Of course it doesn’t have a chance. No media coverage or debate.
People are uneductaed. Don’t understand how the Fed system works.
We don’t have to pay interest on bonds (fed debt) congress can
issue money...spend it into the economy.
The corporate media will not expose this huge scam.
They are part of the system!
You get it.
Thats a good one! LOL
I served in VietNam as a combat Marine and delivered one baby. Does that make me a decent man? No, it means I did some cool things 40 years ago.
I don't have the chops to argue in full, however, do you not recall the $75Billion in extra currency that was printed by the Fed to "prepare for Y2K"? Also there was another expansion in the late 90s by Clinton to the tune of (I think) $25 or $50 Billion. The .bomb happened in mid-2000 if I recall correctly.
Kennedy also had the treasury print “UNITED STATES NOTES” in $2 and $5 denominations.
Interest free. Backed by the full faith and credit of the United States.
Somewhere I have the $5 version.
This is one of the oldest arguments in the history of the republic. The Fed was created after a crisis was averted by J.P. Morgan forcefully leading bankers. I think he kept them all in a room til they agreed. They were patriotic robber barons. Although the government appoints the board, the banks have the money and thus the most power. What the Fed does is set standards for deposit reserves to back up lending so banks don’t go broke. It does not really print money, literally, but it does affect the supply through the supply of credit. The mint prints the money, only a small % of which esists. The treasury Department sells bonds and collects taxes.
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