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End The Federal Reserve

Mike

Well-known member
They have surely done a poor job of Regulating the banks!!!!!!!!!


End the Fed
House.gov ^ | 25 Feb 2009 | Ron Paul


Statement of Congressman Ron Paul

United States House of Representatives

The Federal Reserve’s low interest rate policy is a big mistake; it is not a panacea.

Artificially low interest rates are achieved by inflating the money supply. Low interest rates penalize the thrifty and those who save are cheated. It promotes consumption and borrowing over savings and investing. Manipulating interest rates is an immoral act. It’s economically destructive.

The policy of artificially low interest rates caused our problems and therefore cannot be the solution. The market rate of interest is crucial information for the smooth operation of the economy. A central bank setting interest rates is price fixing and is a form of central economic planning. Price fixing is a tool of socialists and destroys production. Central bankers, politicians, and bureaucrats can’t know what the proper rate should be. They lack the knowledge and are deceived by their own aggrandizement.

Manipulating the money supply and interest rates rejects all the principles of the free market. Ironically free markets and sound money generates low rates, but unlike the artificially low rates orchestrated by the Fed, the information conveyed is beneficial to investors and savers. The Congress, by conceding this authority, conveys extraordinary economic power to the elite few. This is a power that has been abused throughout history. Only the Federal Reserve can inflate the currency, creating new money and credit out of thin air, in secrecy, without oversight or supervision. Inflation facilitates deficits, needless wars and excessive welfare spending.

Debasing a currency is counterfeiting. It steals value from every dollar earned or saved. It robs the people and makes them poorer. It is the enemy of the working man. Inflation is the most vicious and regressive of all forms of taxation. It transfers wealth from the middle-class to the privileged rich. The economic chaos that results from a policy of central bank inflation inevitably leads to political instability and violence. It’s an ancient tool of all authoritarians. Inflating is never a benefit to freedom loving people. It destroys prosperity and feeds the fires of war. It is responsible for recessions and depressions. It’s deceptive, addictive and causes delusions of grandeur with regards to wealth and knowledge. Wealth cannot be achieved by creating money by fiat. It instead destroys wealth and it rewards the special interests.

Depending on monetary fraud for national prosperity or a reversal of our downward spiral is riskier than depending on the lottery.

Inflation has been used to pay for all wars and empires. And they all end badly. Inflationism and corporatism engenders protectionism and trade wars. It prompts scapegoating: blaming foreigners, illegal immigrants, ethnic minorities, and too often freedom itself for the predictable events and suffering that result. Besides, the whole process is unconstitutional. There is no legal authority to operate such a monetary system. So let’s stop it. Let’s restore a policy of prosperity, peace, and liberty.

The time has come. Let’s End the Fed.
 

MoGal

Well-known member
They say Ron Paul and Dennis Kucinich are both on you tube saying "nationalize the federal reserve"

I thought this had some merit as this guy is explaining how these stimulus packages are going to affect main street:

http://www.lewrockwell.com/reisman/reisman48.html

Did you see the blip on the bottom of the tv screen on Bloomberg two weeks ago, " Geithner says banks will need 9 TRILLion " No one else has picked up on it or commented.

To put 1 trillion in perspective.......... if you had a business open 365 days/year and LOST one million dollars a day since Jesus was born you'd still have 700 years to go......

The central bankers are intentionally crashing the USA economy to bring about a North American Union and the Amero. What I don't understand is that drug dealers kill folks that owe much smaller amounts and yet no one has lynched the central bankers and 34 trillion has been lost (and that amount is probably not the current amount either) on wall street. People are not being told how much money has been lost in their pension funds..................... wait until that starts being leaked out.

I saw on a blog a few weeks ago, "Social Security pensioners are the new middle class" just made me so aggravated I didn't even read it.
 

MoGal

Well-known member
Wonder why the Federal Reserve isn't saying anything about this:

http://dailybail.com/home/2009/2/26/bailout-the-united-states-treasury-the-last-remaining-asset.html


I wish I could watch videos (have dial up) but this shows Ron Paul chewing out Bernanke............

http://dailybail.com/home/2009/2/26/the-bernanke-bailout-4-videos-from-federal-reserve-chairman.html


Don't Americans understand that when treasury is unable to sell their bonds then we are bankrupt. However, the central bankers want that new currency and they will continue to trash the country and bail out their buddies If folks don't start complaining to their congressional leaders and tell them NO to bailouts, and most of all to do away with the Federal Reserve AND restore the currency back to the people of the USA (not a global currency).
 
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