Posted on 09/18/2009 7:50:13 AM PDT by freepersunite
For three decades, Rep. Ron Paul has waged a lonely battle in Congress to abolish the Federal Reserve. But he has more foot soldiers across the nation today, particularly after the financial crisis, who are leading the drive for wider congressional audits of the central bank.
In his new book — “ End the Fed” — released today, Rep. Paul walks through his critique of the central bank and lays out a strategy (briefly) for eliminating it. We sat down with the congressman to hear his views on a money system backed by gold, the Fed’s challenge of withdrawing its stimulus and his legislation to audit the central bank. Excerpts of the interview:
What would a world without the Fed look like?
You’d go back to the day that if you wanted to borrow money to build a house, somebody would’ve had to save some money. You wouldn’t have zero savings and all the credit in the world. That’s just a total distortion of capitalism. Capital comes from savings. The part you don’t use for everyday living which you have left over, you reinvest and you save or you loan it out. We were living with something absolutely bizarre that had nothing to do with capitalism. We had no savings whatsoever yet there was all the credit in the world.
(Excerpt) Read more at blogs.wsj.com ...
I agree. Except let's skip the audit part.
Works for me!
Rep. Paul’s solution, if effected, will Cure FAR More of America’s ills than can be envisioned.
Little Hitlers all across America in one Govt funded fiasco after another will be out looking for a Job once the Fed free free money dries up.
The problem with it will be Keeping the Fed down and Out. Rep Paul can’t be around forever to Keep that monster out of biz. It will be up to the rest of us to Never quit banging the drum against blank check Govt printing presses.
(Silly question.)
of course but ‘they’ wont let that happen.
the only anti-Fed candidate in 2012 with potential is former NM Gov Johnson, he has a lot of appeal and we need to encourage him
He is a smarter business man and constitutionalist, and really, does anyone think he would have done worse than the current administration on foreign policy?
While I am not nearly a Ron Pauler, I think fiscally we would have been better off and none the worse in the foreign affairs catagory than we are now........
IRS needs to go too.
Amen.
Then the greasy-haired Richardson showed up and things went back to normal.
While this move might make sense, politically it isn’t going to happen. Ron Paul was gaining a lot of support for the audit idea but if he adds this provision, he will lose a lot of that support. I think most of the co-sponsors see the audit as the first step in fixing the Fed, not eliminating it.
If we go back on the gold standard, doesn’t China have all the gold?
yeah, along with most of washington. shame people are brainwashed.
The only thing we can do is help educate in our own way.
The bill doesn’t call for ending the fed, just an audit. Ron wants to get something done and there is broad agreement on that, though the Dems are probably going to try and water it down or include it in some monster regulatory bill which means Ron and Republicans won’t vote for it:(
Also, the Senate will try and kill it. They are scared of an audit/
I believe there is a lot of gold in Fort Knox, though i’m sure alot of it has been siphoned off and stolen from the American people. again, they wont allow an audit.
If the audit could put some of these slimebags behind bars, I'm all for it.
STOP! doing it..
God help us in our day, in Jesus name, Amen.
Yes, but it wouldn’t. So it’d be a waste of taxpayers’ money.
I’ll gladly settle for the Fed just being gone.
Ping
Me too. I like this line of thinking.
Some other Agencies need Sunset also!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.