In a previous election cycle at least one candidate, Ron Paul, advocated the "Audit The Fed" plan. Paul felt that the Federal Reserve is/was responsible for the collapse of the U.S. economy. Senator Rand Paul wants to audit the Fed but our Republican congress won't allow it. An article today in The Hill notes:
- - - Fed Chairwoman Janet Yellen sent a letter to Senate leadership late
last week saying that she opposes the bill and warning, if signed into
law, it could damage the economy.
The White House last year called Paul’s proposal “dangerous.”
“What
that bill is about is about Congress supplanting its judgment as to
what monetary policy should be,” said Jason Furman, chairman of Obama’s
Council of Economic Advisers. “Congress shouldn’t be telling the Fed
what to do with monetary policy.” - -
Clearly the fox doesn't want anyone else to guard the hen house. God forbid the people's representatives should shield the people's treasure.
I hear the leading Republican candidates tout their intention to "make America great again", so I don't quite understand why they don't promise to audit the Fed upon ascending to the presidency.
Clearly certain hens are also sleeping with the fox.
What the Fed accomplishes, besides bankrupting us with unrepayable interest debt, is the perpetual cycle of boom and bust which creates winners and losers. The nation's founders argued passionately against allowing a central, private bank to manage the nation's money. I think God knew this would happen before he spun up the Earth. It probably happens on every planet ever spun up in the universe.
I should say, "I do understand."
Showing posts with label Ron Paul. Show all posts
Showing posts with label Ron Paul. Show all posts
Friday, January 15, 2016
Tuesday, August 14, 2012
Legalize Competing Currencies
I recently held a hearing in my congressional subcommittee on the
subject of competing currencies. This is an issue of enormous
importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America.
This monopoly is maintained using federal counterfeiting laws, which is a bit rich. If any organization is guilty of counterfeiting dollars, it is our own Treasury. But those who dare to challenge federal legal tender laws by circulating competing currencies — at least physical currencies — risk going to prison.
Like all government created monopolies, the federal monopoly on money
results in a substandard product in the form of our ever-depreciating
dollars.
Yet governments have always sought to monopolize the issuance of
money, either directly or through the creation of central banks. The
expanding role of the Federal Reserve in the 20th century enabled our
federal government to grow wildly larger than would have been possible
otherwise. Our Fed, like all central banks, encourages deficits by
effectively monetizing Treasury debt. But the price we pay is the
terrible and ongoing debasement of our money.
Allowing individuals and business to use alternate currencies, especially currencies backed by gold
and silver, would expose the whole rotten system because the
marketplace would prefer such alternate currencies unless and until the
Fed suddenly imposed radical discipline on its dollar inflation.
Sadly, Americans are far less free than many others around the world
when it comes to protecting themselves against the rapidly depreciating
US dollar. Mexican workers can set up accounts denominated in ounces of
silver and take tax-free delivery of that silver whenever they want.
In Singapore and other Asian countries, individuals can set up bank
accounts denominated in gold and silver. Debit cards can be linked to
gold and silver accounts so that customers can use gold and silver to
make point of sale transactions, a service which is only available to
non-Americans.
The obvious solution is to legalize monetary freedom and allow the circulation of parallel and competing currencies. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing. They should be free to use gold, silver, or other currencies with no legal restrictions or punitive taxation standing in the way. Restoring the monetary system envisioned by the Constitution is the only way to ensure the economic security of the American people.
After all, if our monetary system is fundamentally sound– and the
Federal Reserve indeed stabilizes the dollar as its apologists
claim–then why fear competition? Why do we accept that centralized,
monopoly control over our money is compatible with a supposedly
free-market economy? In a free market, the government’s fiat dollar
should compete with alternate currencies for the benefit of American
consumers, savers, and investors.
As Austrian economist Ludwig von Mises explained,
sound money is an instrument that protects our civil liberties against
despotic government. Our current monetary system is indeed despotic, and
the surest way to correct things simply is to legalize competing
currencies.
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Interesting.
Monday, January 2, 2012
Right of Right
I read a little of Ron Paul's writings the other day. He insists that our usual oscillation between a Democratic president and a Republican president every few years is a pointless and fruitless dance. Congressmen argue over budget issues worth billions of dollars while utterly ignoring the trillions wasted annually. I would LOVE to see someone like Ron Paul in the White House - I might even break my voting boycott! Trouble is - I am even more right-wing Libertarian than the Paul family is. I am probably to the right of Alex Jones and Eustace Mullins. People cringe over Ron Paul's ideas because he thinks we shouldn't have soldiers in 130 countries, and that we should stop being the primary source of Israel's funding.
We have to go back to the understanding that the nation we live in is a CORPORATION. It quit being a republic with the fraudulent adoption of the 13th Amendment in 1865. The incorporation of the UNITED STATES was necessary to facilitate the borrowing - the indebtedness. At the end of the war of independence, the British did not surrender. They kept the title to the land of America. The creation of a Constitution for the 13 states was partly a bankruptcy filing (hence "Chapter 13"). The states owed 17 million Lire in war debt to the French banks. There have been two more bankruptcies since then - one in 1933 (along with that of the other Western nations), and one in 1989. The politicians MUST do the bidding of the creditors who print our phony money. Ron Paul is not wrong - we must audit, then dissolve the Federal Reserve. The media are not wrong when they say that Ron Paul cannot win the Republican nomination, and that he cannot win the presidency. God has other plans.
Stop looking to the modern American electoral process to remedy the problem. This land has been plundered and confiscated by the Venetian Nobility since its inception. The banking apparatus will make ABSOLUTELY sure that Ron Paul will not become president.
Whom should we blame? Should we blame the Idumeans? Should we blame our Shemitic selves? Should we blame Satan, or God? Truth is - this is a Telestial world. Wicked, devilish people were not placed on this earth by accident. The wheat must co-exist with the tares for a while. Can you get your head around the notion that in every world the pattern will be the same? Our Heavenly Father must be a real stud to have the grit and courage to send 12 billion of His spirit children down on this planet to vex each other with usury and terror for 6,000 years. The question is - will some of them figure out the truth and the hard realities? Will someone figure out who the tares are?
The real remedy comes by way of the Savior's 1,000-year Millennial reign (coming soon). Everybody gets to get his body back (at some point). Everybody gets to learn the truth. The bad guys will be restrained for almost the entire time, and the right will be proved right. We are given such immense freedom to create and improvise that we forget that the nature of the universe is static and absolute. A mere glance at our cosmic surroundings reveals that our existence is the result or evidence of immutable laws. Atheism, Darwinism and Relativism are merely the vain rebellion of people who don't like the rules and who don't care enough about earning the big rewards.
Right is still right (as Nehor and Korihor both learned).
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