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.
I understand your sarcasm.
We need to establish conditions that are favorable to wealth creation. What those conditions are is not controversial.
So government is bad, and your goal in bringing down the FED is to bring down government? Bankrupt the nation and then welfare will stop because we can't afford it?
First, if you are against welfare, or welfare as it's now implemented, then you should work to change that. The collateral damage in bringing down an entire government just to reform welfare is not warranted. There is no guarantee that what government rises from the ashes won't have even worse policies, nor is there any guarantee that what rises will even be democracy based.
Secondly, State responsibility of the poor and indigent has been recognized since at least Old Testament times. It was considered a civic duty by our fore fathers, but until the introduction of Medicaid, it was handled at the state level. History of welfare
Third, abolishing the FED is not likely to bring down the government or even stop government borrowing. It would hurt the economy at large, and therefore reduce Federal Revenues. It would not stop the government from borrowing. It could make monetary policy a little more difficult, although through history governments have found ways of devaluing metal based currencies. And frankly, it only takes a majority vote in the house to come off of a gold based standard like we did in the Civil War. So any sense of security is false.
What is the correct measure of inflation?
....”the entire political career of Ron Paul is an inspiration for any citizen who values liberty and defends the U.S. Constitution.”....
WOW! That is absolutely one of the smartest things ever posted here on FR.
I am in awe.
Congrats. You are THE MAN! You are THE BOMB!
WOW! What insight!
I thought FR was going to start banning these idiots?
Perhaps the banning should start with those who type prattle and wouldn’t know a right-winger from Rep. Wiener.
ZING!!
LMAO!
You want to post a thread asking why “Dr. Paul.” is weird? (And I guess expect what, happy congrats from real consevatives?)
You nutcakes are just burning bandwith.
“Dr. Paul” will be elected president about the same time both of you are.
But look. I hate to laugh. (Too much). So I will just wish you lil’ boys “good luck” on your quest to have a liberal elected president. The only “commies” here are perhaps the ones that support a “commie”. You get the type. Let’s surrender! 9-11 was an “inside” job.
What is “weird about Ron Paul”?
Well, only 96% of TRUE republicans have figured it out.
But you keep at it guys. You are JUST a “hair” from changing all the rest of our minds here.
Remember when I said I would not laugh “too much”. I lied.
Maybe the one used before they took out the price of energy, food, used cars..... You know, the stuff people buy.
( Guess which way the numbers would go? )
Good thing they took out used cars because Cash for clunkers, a program paid for by government debt, raised used car prices( a threefer of economic destruction. You destroy real assets, raise the price of remaining assets, and go into debt. )
For instance the Congress and the Federal Reserve bank printing trillions of dollars....that’s not inflationary?
Dan, here is a recent, public article by the Federal Reserve President of the Dallas Federal Reserve stating that Bernanke/Congress are now threatening the economic foundations, what’s left of them, of America.
http://www.dallasfed.org/news/speeches/fisher/2011/fs110112.cfm
Sounds like CPI-U.
"Those lawmakers who advocate “Ending the Fed” might better turn their considerable talents toward ending the fiscal debacle that has for too long run amuck within their own house. The Fed does not create government debt; fiscal authorities do. Deficits and the unfunded liabilities of Medicare and Social Security are not created by the Federal Reserve; they are the legacy of those who control the purse strings―the Congress, working with the president. The Fed does not earmark taxpayer money for pet projects in local communities that taxpayers themselves would never countenance; only the Congress does that. The Congress and administration play the dominant role in creating the regulatory environment that incentivizes or discourages job creation. "
I somewhat dissagree with him on the role of taxation and regulation in the export of jobs overseas. While that can certainly play a role, he fails to mention the impact of giving open access to our markets and failing to get the same in return. Our the impact on our economy of trading with countries that only have excess labor to offer when our own employment is less than full. We could remove all taxation and regulations and still not be able to compete with China's wage of $2/day.
China is a government controlled economy, those are slave wages. The dollars are not allowed to return to the US economy to buy goods, but rather are focused into buying our debt and into buying military strategic and economically strategic companies.
It's not in the US interest to do that much trade with China. The costs to the US are larger than the price difference that the consumer sees.
Thanks.
Am I reading this right?
All items (1967=100) - (Nov 2010) 655.438
That since 1967 prices are up five and a half times?
http://www.bls.gov/news.release/cpi.t01.htm
That is what the report shows. About 4.06% compounded over 43 years.
This gets back to my feelings that the Fed is the enabler.
That Fedgov would of long since hit the wall, either in the bond fund, or voting booth. Certainly right now where the Fed is buying so many Treasury notes, and being the trash can for trash Fannie/Freddie so called ‘securities’.
Anyway, is it still your notion that the Fed is ‘independent’? Or is it a political player?
Care to explain this statement, absent fractional reserve banking, which while legal today, is quite obviously fraudulent?
Thanks
So, a common saving account, a CD, after taxes, most likely doesn’t earn any real income at all, and my well over time lose value?
What do you think the governments would feel about income adjusted for inflation? I suppose they wouldn’t like that.
Three words. Fractional. Reserve. Banking.
Paper, gold, rocks, whatever you might choose as money, will always be affected by the fraud that allows banks to lend out the money they promise to provide you upon demand.
A "bank run" is nothing more and nothing less than the fraud of fractional reserve banking being exposed. It is inevitable, as we are about to find out, not even the most powerful central bank in the world can hide the fraud forever.
With an honest banking system, bank runs cannot occur. Because the money you deposited is really there when you wish to access it. There would only be a panic in the event of fraud or other criminal activity.
That is true.
Lets go back to, if there every was one, a time when there was no money.
You got a hoe. It’s by the door of your cave. Og down the street, want’s to borrow the hoe, which you are not using to hoe his hops patch, and not only will he increase his hops production, but he will bring you your hoe back, but some beer too.
Now let’s complex it a bit and say there is money, it is sea shells. Og rents the hoe, for some sea shells. ( The amount of sea shells in the tribe is the same ). However Og takes his beer down to the sea tribe to get shells for beer. He returns with a bunch of shells, and your wife now yells at you that Og has all sorts of shells to spend on his wife why don’t you go trade some beer for shells.
( Now the money supply has increased in the cave village.)
( I really think women are the source of inflation. We were happy in our cave with beer, then they ruined it. )
Care to explain this statement
Sure.
absent fractional reserve banking
Why would I explain it absent fractional reserve banking?
M1 includes currency in circulation and demand deposits.
You deposit 10 $20s in the bank. The banks loans out 9 $20s and keeps one in reserve. The money supply is your checking account ($200) plus the $180 that is in circulation. The money supply grows by $180 whether your $20s are gold coins, gold certificates or FRNs.
which while legal today, is quite obviously fraudulent?
Please explain how accepting deposits and making loans from those deposits is "obviously fraudulent".
Thanks.
A CD over the last 43 years would have easily kept up with inflation.
What do you think the governments would feel about income adjusted for inflation?
Reagan felt strongly enough that our tax brackets are now adjusted for inflation.
With the exception of the government-generated inflation of the War of 1812 and the Civil War, your chart shows comparative stability of prices from 1810 to 1910. Not especially the almost totally flat nature of prices between 1870 and 1910. We have not even close to that level of price stability since.
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