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Fed Independence or Fed Secrecy?
- Text size
Dr. Ron Paul, U.S. Congressman
Infowars
July 13, 2009
Last week I was very pleased that hearings were held on the independence of the Federal Reserve system. My bill HR 1207, known as the Federal Reserve Transparency Act, was discussed at length, as well as the general question of whether or not the Federal Reserve should continue to operate independently.
The public is demanding transparency in government like never before. A majority of the House has cosponsored HR 1207. Yet, Senator Jim DeMint’s heroic efforts to attach it to another piece of legislation elicited intense opposition by the Senate leadership.
The hearings on Capitol Hill provided us with a great deal of information about the types of arguments that will be levied against meaningful transparency and how the secretive central bankers will defend the status quo that is so beneficial to them.
- A d v e r t i s e m e n t
They claim the Fed is endowed with special intellectual abilities with which to control the market and that central bankers magically know what the market needs. We should just trust them. This is patently ridiculous. The market is a complex and intricate thing. No one knows what the market needs other than the market itself. It sends signals, such as prices, that should be reacted to and respected, not thwarted and controlled. Bankers are not all-knowing and cannot ignore the rules of supply and demand. They might act as if they are, but their manipulation of the market just ends up throwing it wildly off balance, which gives us the boom and bust cycles.
They claim the Fed must remain apolitical. No organization is apolitical that relies on the President to appoint the Chairman. In fact, it is subject to the worst sort of politics – power to create trillions of dollars and affect the value of every dollar in the country without the accountability of direct elections or meaningful oversight! The Fed typically enacts monetary policy that is favorable to particular administrations close to elections, to the detriment of long term considerations. They do this partly because of the political appointee process for the Chairmanship.
The only accountability the Federal Reserve has is ultimately to Congress, which granted its charter and can revoke it at any time. It is Congress’s constitutional duty to protect the value of the money, and they have abdicated this responsibility for far too long. This was the issue that got me involved in politics 35 years ago. It is very encouraging to finally see the issue getting some needed exposure and traction. It is regrettable that it took a crisis of this magnitude to get a serious debate on this issue.
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July 13th, 2009 at 3:55 pm
I killed 1st!!!!
Down with the Fed!!!
. Reply:
July 13th, 2009 at 5:56 pm
If you don’t want people to make first comments I suggest you not post comments regarding first comments. Get it?
1st killer Reply:
July 14th, 2009 at 2:51 am
yea but you know they will just do it anyways
first Reply:
July 17th, 2009 at 10:50 am
1st ha
Tim Reply:
July 23rd, 2009 at 11:11 pm
LaRouche Previews August 1 Webcast: Installing An Anti-British-Imperialist World Economy
July 16, 2009 (LPAC)– On Saturday August 1, 2009, at 1 pm Eastern Time, Lyndon LaRouche will address a world audience, and leading collaborators within the United States, in an international webcast. In a paper currently under preparation on “The Science of Physical Economy,” LaRouche directly previews the topics on which he will concentrate during that presentation.
“The world now hovers at the brink of a long dark age of absolute despair. Only the sudden and thorough scrapping of the monetary systems which have reigned over the world since the death of President Franklin Roosevelt, could provide humanity today an escape from a New Dark Age whose character would bring the entire planet rather quickly from a level of about 6.7 billions individuals, to probably something near the goals, of no more than two billions, demanded from pro-genocidalists such as the late Bertrand Russell and the sheer evil of the World Wildlife Fund of Prince Philip and the now deceased Prince Bernhard.
“While it is necessary to continue the use of money as a medium of exchange within the microcosms of the social process of economy, any useful definitions of the role of money must abandon those old, systemically failed, definitions, which have been formerly taught in schools and universities, and as presently official accounting practice; there must be sudden and sweeping installation of a new form of an anti-British-imperialist world economy, that among cooperating, perfectly sovereign nation-states. That urgently needed change, will come into existence on the battleground once occupied by the preceding reign of the now hopelessly failed existing nation-states of the former monetary systems.
“However, this urgently needed change were likely to occur, only if an inner circle of professional economic competence is created now, from among relevant leading circle among some key nations.
“For this purpose, the preliminary step of urgently needed education to be taken immediately, is to present an updated presentation of that ‘Triple Curve’ imagery which I first published in the official, 1996 announcement of my candidacy for that year’s Democratic Presidential nomination. The current update of that ‘Triple Curve’ will be presented in two public events, one prior to my August 1, 2009 international webcast, and the second during that webcast. The implications of that update, which will have been presented publicly prior to those events, are to be assumed in what is written here.
“The crucial change might appear to some as minimal. I have proposed, simply enough, to replace the existing world monetary system, as if by turning on a dime, by a fixed-exchange-rate alliance among a set of what shall be, respectively, perfectly sovereign nation-state republics. This shall be accomplished by elementary methods of reorganization in bankruptcy….”
LaRouche’s webcast will be aired live on http://www.larouchepac.com
July 13th, 2009 at 4:57 pm
Bekijk “The Obama Deception” (De Obama verleiding) met Nederlandstalige ondertiteling
http://www.youtube.com/watch?v.....playnext=1
of in één geheel:
thepiratebay.org/torrent/4879618
July 13th, 2009 at 4:58 pm
Download de NL ondertiteling bestand versie 2 (in mijn bericht hierboven is versie 1 gebruikt) voor “The Obama Deception”
http://alex-jones-movie-transl.....xlZulaYnsh
July 13th, 2009 at 5:02 pm
##############SPREAD THIS INFORMATION##############
**Wall Street criminals exposed By Marcy K.**
kaptur.house.gov/index.php?option=com_content&task=view&id=289&Itemid=1
youtube.com/watch?v=S27yitK32ds
youtube.com/watch?v=oAADyc6t4nY
**Rep. Alan Grayson asks the FEDERAL RESERVE Inspector General where the money is gone…**
youtube.com/watch?v=PXlxBeAvsB8
HQ version: youtube.com/watch?v=cJqM2tFOxLQ
#####END THE CRIMINAL RESERVE – ACTION STEPS#####
Bills to be supported: S 604 and HR 1207. Information:
ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207
or
http://www.campaignforliberty......07home.php
1. Sign the HR 1207 Petition:
www(dot)campaignforliberty.com/campaigns/hr1207petition.php
2. Sign the S 604 Petition:
www(dot)campaignforliberty.com/campaigns/s604petition.php
3. Already signed the petitions? Contact your Representatives:
www(dot)campaignforliberty.com/campaigns/hr1207action.php
July 13th, 2009 at 5:08 pm
#######Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression#######
In ‘Rolling Stone’ magazine 1082-83, Matt Taibbi takes on “the Wall Street Bubble Mafia” – investment bank Goldman Sachs. The piece has generated controversy, with Goldman Sachs firing back that Taibbi’s piece is “an hysterical compilation of conspiracy theories” and a spokesman adding, “We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good.” Taibbi shot back: “Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it.”
Includes 5 short video’s:
http://www.rollingstone.com/po.....hine/print
July 13th, 2009 at 5:11 pm
MAKE THIS VIDEO GO VIRAL:
http://www.youtube.com/watch?v=WccPO-lkK8I
jj's shadow Reply:
July 19th, 2009 at 10:47 pm
Excellent video – definitely needs to be shared!! This is the crux of the economic collapse!!!
July 13th, 2009 at 6:50 pm
Great Job Congressman Paul.
The Fed should not be allowed to be independent. They should be audited and audited to the max. I feel that transparency is should not be 5 years out, in which one of your conversations with the VP of the Fed is stated. If it inhibits debate that their comments might be made public the same day, then too bad. They should not be embarrassed about what they have to say, and they should not be allowed to make comments that it takes 5 years to be held accountable for. Congressman Paul, I applaud your chivalry, but the gloves need to come off. I watch you, and you do very well against these crooks, but we can slap them harder. These guys have been stealing from the American People for too long(1913 – almost 100 years). It is very unfortunate that we have to tiptoe around this psuedo financial system with kind banter. Its time to talk to them like the criminals that they are.
I wrote a letter to Congressman Miller (NC-13 -My District) who has not cosponsored HR1207 requiring him to fulfil his duty and sponsor the bill.
It is time to seize the Federal Reserve Assets, jail all head employees at the Federal Reserve and seize their personal assets. Perhaps liquidating all these assets will get us out of the Trillion Dollar debt we have as a Nation.
These people are the scum of the earth and they need to be made to feel this way.
metoo Reply:
July 14th, 2009 at 11:24 am
5*****
July 13th, 2009 at 9:00 pm
Thank you Paul Michael Owen for expressing so eloquently what most of us feel but can’t articulate!
July 13th, 2009 at 10:21 pm
We fight the Ron Paul fight every week. Check out REAL MEDIA On Patriot Radio New Orleans http://wgso.com/podcasts/patriot-radio.html
July 14th, 2009 at 11:06 am
Yes let’s end the Fed, so that we can replace it with a global central bank!
1st killer Reply:
July 14th, 2009 at 4:24 pm
dude, it makes sense!!!! lets watch how they soon say the fed is bad and put those traitors in jail and then come up with a brilliant idea of how a world central bank would be better. it actually makes alot of sense, this problem reaction solution assholes are always thinking of dis-info and bs to trick the american zombies.
i mean their gonna need a patsy to take the fall
well said m8!
Mazeman Reply:
July 15th, 2009 at 4:25 pm
One Trrrilion dollars, muahahahaha!
July 14th, 2009 at 4:04 pm
OK, so the Bill passes and we get an audit of the FED. Who will do the audit? The GAO? Some other independant body?
If there is an audit, you can bet your ass NOTHIHNG will be revealed except what they want us to see. Do you think for one second, information on how they have fucked us for 96 years will see the light of day?
awshucks Reply:
July 27th, 2009 at 12:11 pm
Of course not. Don’t be silly.
Thanks so much for thinking..
July 15th, 2009 at 12:11 am
When a child gets in a fight, he gets bruised. When a teen gets in a fight, noses are bloodied. When an adult gets in a fight, bones get broken. When a group (such as a nation or merely a gang) gets in a fight with another group, men die.
As the size of the power to do damage is increased, so is the penalty for its misuse. There has been a grave misuse of power by some men very high up. The penalty is as sure as the sunshine. The problem lies in the fact that the populace at large is the recipient of the penalty. And, in my opinion, those men up high have their own very secret hells that they are living in and are reaping their own special penalties.
The solution lies within each of us and what we do. Some claim to be awake, and yet ask what to do. A man awakens in the morning and ARISES. He begins to DO things that affect his life in the way that best suits him. He then checks on his wife kids and family pet. All is well there, so he goes to work and begins to do stuff there. The point here is, it is up to each and every person to DO something. Ron Paul, you sir are doing something, Thank You.
BobSam Reply:
July 15th, 2009 at 9:39 am
Nicely said. Someone posted at Infowars commenting on a related story proposing if the FED is audited honestly would it be replaced by an international central bank. I think most here would agree that is a distinct possibility.
Whether or not Ron Paul is being used for that purpose. I do not know. But you are right – he is doing something and what he is doing is very useful for us. He is educating, revealing and acting.
jayce Reply:
July 21st, 2009 at 11:22 am
Well put…We shouldn’t have ANYONE appointed by the gov’t doing the auditing, we need truly independent accountants, who can’t be bought out, threatened, or bogged down by politics.
I’m with Paul on this one.
July 15th, 2009 at 1:53 pm
There is over 60 percent supporting this bill in the house. What’s going on?
July 15th, 2009 at 9:14 pm
Be wary of those who wish to make money off your true desire to be self-sufficient.
Do not be lead astray by those who wish to threaten a “Global Bank” or “Global Economy”.
If the Federal Reserve is abolished, the Constitutional right of Coining Money and maintaining currency goes back into the hand of the People.
If you are paying attention, Congressman Paul had actually introduced a bill to “abolish” the Fed, with no support. Then he introduced the “Audit” bill – HR1207 with tremendous support. The bill is currently in committee, and investigative hearings are being held, and hopefully the bill will be put back to the floor for a vote. If you understand Congressional Procedure, you will know that just because the House of Representatives may pass this bill, it still must be agreed to in the Senate before the President can sign it into law.
The Federal Reserve is shaking in its boots. Who missed the Drudge Report’s, “Where’s the 2 Trillion Dollars?” front page several months ago? If the Fed gets truly audited we still may not know the lengths of their theivery. I think what WILL be realized is the fact that we do not need a private corporation maintaining our currency.
Once again I say, We the People have the right to rule and make our own currency it is stated specifically in the United States Constitution. This current administration is just a continuation of the past and we have not made any change in ANY point of government. The fact that people are still paying attention to politics is exciting. I hope everyone takes the time to contact their representatives and senators to remind them that THEY are working for YOU.
The idea of Self-Government will only hold true if the PEOPLE maintain control. Once we allow the rich elite to continue to make the rules of law without the check and balance of accountability to us who they represent all is lost.
If you have never contacted your representative or senator, take the opportunity to now email or call them and remind them that they report and represent you. Even if you just say hello, your name is, and you are paying attention to what they are doing, and then goodbye. It is enough to make them know we are the big brother watching THEM.
Our economy will never correct itself until we bring the jobs back to the US. We are not ready to be a global economy.
dirkie Reply:
July 25th, 2009 at 4:23 am
Please have a look at the following article :
http://en.wikipedia.org/wiki/Bretton_Woods_system
It seems that your economy has been “global” for a while and that, if you expose your Fed properly you would also expose other, similar institutions..
July 16th, 2009 at 5:07 pm
93. 93 Democratic co-sponsors. Great job Ron Paul!
http://linkthe.com/2009/07/16/.....on-a-roll/
July 18th, 2009 at 1:59 am
In light of recent events can we shift some of our focus to the question, does Barrack Obama meets the qualifications to be the President of the United States of America? This is dragging on entirely too long. He needs to release his “long form” birth certificate!!!! Anything less is irresponsible and is waisting taxpayer money and the time of our courts and judges.
July 18th, 2009 at 10:41 am
Skip the fed shit, take a look at the “Hate Crimes Bill” S. 909. This is protection for pedophiles also its more prosecution for what you thought than what you did! It will be a crime to think! Write Rep. Paul and bring this to his attention if you havent done so and go and research this peice of trash “bill” dont get distracted people!!
July 18th, 2009 at 12:18 pm
Gods promises are yeah and amen for the believer. He promises to be with those who refuse to worship the eigth king the anti christ. Those who rest in God. I will sustain you with my mighty right hand. The tribulation is only a short 3 and 1/2 years when God pours out HIS wrath. God rules and makes the way straight. Prayers are the answers. He stores them up in vials and thoses are the ones He hurls to the earth during the time of wrath. Give God glory for He has removed your errors and sins. He cast them into the sea and remembers them no more. Praise God from whom all blessing flow.
GOD RULES
July 18th, 2009 at 3:53 pm
If u have said Lord be mercyful to me a sinner. You have recieved imputed rightousness. Jesus is now your savior. You are now the rightousness of God the Father in the flesh. You have taken a step toward eternal life. God is faithful to complete that which He has begun in YOU until the day of Redemption. When you die.
GEOPOLITICS Reply:
July 20th, 2009 at 8:23 am
u poor sinner u , lol get a life dude u do ot even know what a sinner is get a real knowledge
study kabala the only unbiased true spiritual knowledge
Bible is for children
July 24th, 2009 at 6:29 am
The ony chance to get rid of the Fed is to vote in a majority of non Free Masons. Ron Paul is a free mason. He talks a good talk but it will be Tubal Cain as usual if he gets elected. There is no hope as long as the two main political parties run only Masons as our electoral choice. This country needs a large anti free mason movement like the one that took place in the early 1800s. This is where public awareness needs to be focused. You guys keep pontificating about the symptoms instead of the root cause.
July 26th, 2009 at 4:31 am
PATRIOTS, I NEED YOUR HELP!!!
Please go to http://patriotmoneybomb.com, watch the video and read all about the fundraiser we’re having this week for JTCoyoté, moderator of the Prison Planet and Infowars message boards. The DEA raided his house on false pretenses and now greedy bankers are trying to steal it! JT’s an expert and activist in the state sovereignty movement and has been at the forefront of the American Restoration! Any donation is appreciated, all we’re asking is that you give what you’re willing to part with. It’s all going to become worthless at this rate anyhow!
It’s time to be heard, and money talks. We need to show these feds that we’ve had enough and we’re NOT GONNA TAKE IT ANYMORE! ENOUGH!!!
The formula for success is:
Save JT -> Save Infowars
Save Infowars -> Save THE Infowar
Save the Infowar -> Enact State Sovereignty!
Enact State Sovereignty -> Save America
Save America -> Save The World!!
It’s time to rally the troops. It’s time to hit up the email, Facebook, Digg, Reddit, MySpace, Friendster, IM…anywhere and everywhere, let patriots everywhere know about what’s happening to JT! We either hang together, or we’ll all hang separately! Soldiers, move out!!!
July 26th, 2009 at 7:30 am
heres the truth about ron paul please watch..http://www.youtube.com/watch?v=_x6inINzThw&feature=related