The Fed: Mend It or End It?

May 15th, 2012

FAKE NEWS for the Zionist agenda

Ron Paul
Prisonplanet.com
May 15, 2012

Last week I held a hearing to examine the various proposals that have been put forth both to mend and to end the Fed. The purpose was to spur a vigorous and long-lasting discussion about the Fed’s problems, hopefully leading to concrete actions to rein in the Fed.

First, it is important to understand the Federal Reserve System. Some people claim it is a secret cabal of elite bankers, while others claim it is part of the federal government. In reality it is a bit of both. The Federal Reserve System is the collusion of big government and big business to profit at the expense of taxpayers. The Fed’s bailout of large banks during the financial crisis propped up poorly-run corporations that should have gone under, giving them a market-distorting advantage that no business in the United States should receive. The recent news about JP Morgan is a case in point. JP Morgan, a recipient of $25 billion in bailout money, recently announced it lost another $2 billion. If a corporation shows itself to be a bottomless money pit of “errors, sloppiness and bad judgment,” the Fed shouldn’t have expected $25 billion in free money to change that or teach anyone a lesson in fiscal discipline. But it determined that this form of deliberate capital destruction was preferable to one business suffering bankruptcy. Clearly, some changes need to be made.

Several reforms for the Fed were discussed at the hearing. One was a call for the full employment mandate to be repealed, in order to allow the Fed to focus solely on stable prices.

Another reform calls for changes to the composition of the Federal Open Market Committee. Still another proposal was for outright nationalization of the Fed or of its functions. But if what the Fed does now is bad and inflationary, allowing the Treasury to print and issue money at-will would be even worse, and could possibly lead to a Weimar-like hyperinflation.

The problems and advantages of the gold standard were discussed at the hearing. The era of the classical gold standard was undoubtedly one of the greatest eras in human history. For a period of several decades in the late 19th century, the West made enormous advances. However, the gold standard was still run by government. The temptation to suspend gold redemption reared its head again with the outbreak of World War I. Once the tie to gold was severed and fiscal restraint thrown to the wind, undoing the damage would have required great fiscal austerity. Instead, the Western world proceeded to set up a gold-exchange standard which lasted not even a decade before easy money led to the Great Depression.

While returning to the gold standard would certainly be far better than maintaining the current fiat paper system, as long as the government retains the power to go off gold we may end up repeating the same mistakes.

A d v e r t i s e m e n t

The only viable solution is to get government out of the money business permanently. The way to bring this about is through currency competition: allow parallel currencies to circulate without receiving any special recognition or favor from the government. Fiat paper monetary standards throughout history have always collapsed due to their inflationary nature, and our current fiat paper standard will be no different.

It is imperative that the American people be educated on the dangers of the Fed and the importance of restoring sound money. The laying of the groundwork must begin today, so that the American people will be prepared for the day when the mirage the Fed has created evaporates completely. The full hearing footage is available on my website and I would encourage every American to take a look.

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17 Responses to “The Fed: Mend It or End It?”

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“History Repeats Itself, First As Tragedy, Second As Farce.”

– Carl Marx; Rothschild Illuminati Puppet-Whore Envoy Sent To Destroy Russia
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Super Duper Man 1776 Reply:
May 15th, 2012 at 9:02 am

A JEW FROM VIENNA.

THEY ARE ALL BOHEMIAN, SAME AS HITLER..AUSTRIAN JEWS. SOCIALISTS, ZIONISTS.

MY FAMILY TREE COMES FROM THERE, GRAND DAD WAS BORN SAME YEAR DOWN THE STREET FROM HITLER.

TAKES BOHEMIAN TO FIGHT BOHEMIAN.
HMMM

LETS SEE

PAY 30+ % TAX TO A FOREIGN CORP.

HAVE THE IRS ALL OVER YOUR ASS.

THE FBI AS WELL,

I SAY FKEM, END THE FED.
END!
Ron Paul should be President! He may not know what the answer is but we all know what the answer isn’t and that would be the Fed (or as I call it a Den Of Thieves).

AUDIT THE FED

RON PAUL 2012
Ever notice how — despite being supposed “opposites” — both Keynesians AND Austrians are equally hostile to the following?

ht**p//www.youtube.com/watch?v=swkq2E8mswI
Ron Paul: Some people claim it is a secret cabal of elite bankers, while others claim it is part of the federal government. In reality it is a bit of both.

Between_the_lines: The group is within the government but not part of the government. The group is a privately-owned entity and independent of government, yet living within it.
The “Federal”-Reserve group’s board of governors describes the group as
“an independent entity within the government”
[Check it out here ☞h**p://www.federalreserve.gov/newsevents/speech/duke20110202a.htm]
.. and that is the very definition of a parasite – one independent entity living within another.
Ron Paul: However, the gold standard was still run by government..

Between_the_lines: But Ron Paul will never tell you: the last gold standard we had in the US, the American government guaranteed to buy the private currency of a parasitic group of Jewish Bankers with the American people’s gold.

There has been no US dollar since 1913, when it was replaced as legal tender by the dollar of a parasite(1) that infested the government. And since 1913 the US government has sporadically guaranteed the parasite’s dollar(the new legal tender) with gold.
Before it was infested by the parasite, the government had a policy of guaranteeing to convert its own dollars to gold on demand of the bearer. After it was infested by the parasite, the government continued for 20 years from 1913 until until 1933, this policy, except now it guaranteed to convert to gold the parasite’s dollars instead of its own dollars.

Then under the Bretton Woods agreement following WWII(1945) the US government again guaranteed to convert the parasite’s dollars to gold on demand of the bearer (but only if the bearer was a foreign government). And this policy continued for about 25 years from 1945 until 1971 when President Nixon ended US-government support of the parasite’s dollar.

Nixon was a totally-owned puppet of course and his puppetmeister’s motives in saving America’s gold from foreign governments, was so they could steal it themselves instead! In 1971 the US government still had some gold left but by 1982 it was all gone(2), and the “Federal”-Reserve parasite got it all – not foreign governments!

FOOTNOTES:
(1) The parasite/puppermeister is the owners of the 12 “Federal”-Reserve banks
(2) President Reagan’s gold commission in 1981..
h**p://www.mindcontagion.org/banking/hb1981.html
“The Gold Commission Finds That The US Government Owns No Gold”
END THE FED.

The Federal Reserve’s main reason for being created in the first place was to secure the value of our money. The fact that our money is now worth 98% less than when the Fed took over as monetary value steward should speak volumes as to the sheer incompetence of the Fed.

DO NOT RENEW THE FEDERAL RESERVE CHARTER IN 2013!!!
Oh, my God, i just found these guys The Yes Men. Had to share if you’ve not seen it:

youtube.com/watch?v=OazUh0Ym8rc

Great comedy making fools of the panicking power elite. We need to continue, louder, making fun of them and having fun doing it!
Mend it.

The Fed, which is not a U S Federal institution should be audited first to find out the true value of its assets thus, proving the illegibility to lend money.
Then it should change its name to “The Bank of England”. And finally it should list its owners.
If the bank is completely loaned out then it shouldn’t be allowed to lend fake money.
Conversely, when any government goes to borrow money it should have to go through a credit review to see if it is sound enough to be able to borrow money.

Maybe this has to be written into the Constitution.

Borrowing money from a private group can add some security and credibility to the worthinness of the loan. But, the burden of proof would be on both parties as to the fitness of the lender and the borrower.
My best guess is that the foreign banks are completely lent out.
All of the financial problems would eventually fix themselves without any government intervention.

Anybody who has a checking account goes through the same process. A checking account issues ‘promises to pay’. And if we decide to accept a check from someone we have the right to examine their assets to see if they have the reasonable ability to pay.

Wisconsin Task Force……….

out.

Tom Reply:
May 15th, 2012 at 1:24 pm

Mend it? Never take what your enemy gives you. End it.
Ron Paul: While returning to the gold standard would certainly be far better than maintaining the current fiat paper system, as long as the government retains the power to go off gold we may end up repeating the same mistakes.

Between_the_lines: All Ron Paul will ever talk about is gold-backed vs. fiat currency – never privately-issues vs. government-issued currency.

There are a number of possibilities, here are a few cases:

• Case 1. The government has the currency-issuing power, and a currency backed by the collective wealth of the nation.

In this case each unit of currency is one share in the collective real wealth of the nation. If the government spends new money into circulation in synch with the expansion of the economy, each unit remains backed by the same amount of real wealth, and there is no need for an income tax to finance government spending on public works. There is no need for the government to back its currency by gold. The currency is already backed by the collective wealth of the nation. The government must just be careful not to spend new money into circulation at a faster rate than the rate of expansion of the economy, lest it cause inflation.

• Case 2. Private bankers have the currency-issuing power, and issue a currency backed by nothing.

In his case, as the economy expands and more currency is needed, the government must issue interest-bearing bonds and pledges them as collateral with the bankers, to borrow more of their currency, which they create out of thin air. And when the bonds come due, the government must repeat the process for a larger amount, and use the proceeds of the new loan to pay off the interest on the old loan, roll over the old loan’s capital amount, and spend some new currency into circulation. The government must levy an income tax on the people to pay the interest, and the entire wealth of the nation is always pledged as collateral for the expanding capital amount of the loans. The capital amount of the loans must always exceed the total amount of currency in circulation. The nation can never repay its national debt to the bankers.

• Case 3. The government has the currency-issuing power, and issues a currency the government backs by gold.

The Rothschilds own 2/3 of the gold in the world, and the US government (for example) owns none. The only way the government could get enough gold to back its own currency would be to borrow it from the Rothschilds at interest, and pass the interest on to the people in the form of an income tax. Which means we would be back at case 2.

• Case 4. Private bankers have the currency-issuing power, and issue a currency the GOVERNMENT backs by gold.

In this case we get the same result as in case 2, except the government’s gold reserves are soon gone and it must either stop the redemption program (as nixon did) or borrow gold at interest from the parasite in order to defend it.

• Case 5. Private bankers have the currency-issuing power and issue a currency they themselves back by gold.

In this case we get the same result as in case 2, except the bankers must stop the redemption program if there is a run on it. The currency is backed by the wealth of the bankers not the wealth of the nation. The wealth of the nation is gradually consumed as debt collateral.

between_the_lines Reply:
May 15th, 2012 at 12:48 pm

Ron Paul is the Bankers man.
He served on President Reagan’s gold commission in 1981..
h**p://www.mindcontagion.org/banking/hb1981.html
“The Gold Commission Finds That The US Government Owns No Gold”

And he knew full well the nation had no gold. Yet immediately after the commission ended he wrote a book called “The Case for Gold”(1) in which he promoted the idea of the U.S. government backing Rothschild currency with gold again.

__________
FOOTNOTE:
(1) And by the way, Ron Paul co-authored the book with another member of the gold commission, Jewish-Zionist NWOer Lewis E. Lehrman who went on the be on the Board of Directors of Project for the notorious NWO New American Century(PNAC). Their book is often quoted in editorials in Rothschild-controlled mainstream media outlets like The Wall Street Journal, The Washington Post, National Review and Money.
How could Ron Paul be “The Bankers Man?” He’s the only candidate they don’t own or try to own or contribute to. He owns zero stocks and all his assets are in gold, silver and real estate and his net worth fluctutates between $4 to $6 million dollars which is far too pauper to be “The Bankers Man.” Even the Famous Republican Farmer Guy with the Billboards on I-5 in Washington State between Seattle Portland had words on his billboard a couple weeks ago that said “Is Ron Paul the only candidate that the Bankers don’t like?”

99% of the world’s currency is Rothchild currency. So for President Paul to say that we need to back this worthless fiat with gold only brings to the attention of the public how worthless it is and how it needs to be attatched to something of value to have any worth or meaning. Do you think Rothchild wants this to be brought to the public’s eye?

One last point…if Ron Paul was the “Bankers Man” why doesn’t he ever get invited to or attend Bilderberg? Ron Paul is a pain in the ass to the Bankers! I’m writing his name in for President in November and Jesse Ventura for Vice President. With Ventura as VP you can cut back on the Secret Service. Let’s see if Rick Perry would grab the Ventura’s arm like he did Ron Paul’s during the debates. Ventura would have cut off Perry’s circulation and had him pass out on stage, which would have been one of his better performances!!!!!!

between_the_lines Reply:
May 15th, 2012 at 4:11 pm

earzynisewon: 99% of the world’s currency is Rothchild currency..it needs to be attached to something of value to have any worth or meaning.

between_the_lines: Wrong! The currency issuing power needs to be taken from the Rothschilds, and restored to the governments whence it was stolen by the Rothschilds. And each government needs to issue its own new debt-free currency. The only thing of value that needs to be attached to those new currencies is the real wealth of the nation issuing it. Each unit of new currency is one share in the real wealth of the nation issuing it.

See Case 1 in my post, a couple up.

between_the_lines Reply:
May 15th, 2012 at 4:12 pm

Also watch this
VIDEO: h**p://video.google.com/videoplay?docid=-515319560256183936
“The Money Masters – How International Bankers Gained Control of America”

And/or read the
TEXT: h**p://archive.org/details/TheMoneyMasters

Either way, Money Masters concludes with the following solution to the problem..
1. Pay of the national debt with debt-free U.S. Notes
2. Abolish Fractional Reserve Banking.
3. Repeal of the Federal Reserve Act of 1913 and the National Banking Act of 1864.
4. Withdraw the U.S. from the IMF, the BIS and the World Bank.