Concordia res Parvae Crescunt
by Rep. Ron Paul
I have been very pleased with the progress of my legislation, HR 1207, which calls for a complete audit of the Federal Reserve and removes many significant barriers towards transparency of our monetary system. This bill now has nearly 170 cosponsors, with support from both Republicans and Democrats.
Senator Bernie Sanders has introduced a companion bill in the Senate S 604, which will hopefully begin to gain momentum as well. I am very encouraged to see so many of my colleagues in Congress stand with me for greater transparency in government.
Some have begun to push back against this bill, and I am very happy to address their concerns.
The main argument seems to be that Congressional oversight over the Fed is government interference in the free market. This argument shows a misunderstanding of what a free market really is. Fundamentally, you cannot defend the Federal Reserve and the free market at the same time.
The Fed negates the very foundation of a free market by artificially manipulating the price and supply of money – the lifeblood of the economy. In a free market, interest rates, like the price of any other consumer good, are decentralized and set by the market.
The only legitimate, Constitutional role of government in monetary policy is to protect the integrity of the monetary unit and defend against counterfeiters.
Instead, Congress has abdicated this responsibility to a cabal of elite, quasi-governmental banks who, instead of stabilizing the economy, have destabilized it. It took less than two decades for the Federal Reserve to bring on the Great Depression of the 1930’s. It has also inflated away the value of our currency by over 96 percent since its inception. It has invisibly stolen from the poor and given to the rich through this controlled inflation, and now openly stolen through recent bank bailouts. It has predictably exacerbated the very problems it was meant to solve.
Detractors have also argued that the Fed must remain immune from the political process, and that that more congressional oversight would distort their very important decisions. On the contrary, the Federal Reserve is already heavily entrenched in the political process, as the Fed chairman is a political appointee. High-level officials routinely make the rounds between positions at the Fed, member banks, Treasury and back again, taking care of friends and each other along the way.
As far as the foolishness of placing complex monetary policy decisions in the hands of politicians – I couldn’t agree more. No politician or central banker, no matter how brilliant, is smart enough to know more than the market itself. The failure of central economic planning has been witnessed over and over. It is frankly beyond me why we ever agreed to try it again.
To understand how unwise it is to have the Federal Reserve, one must first understand the magnitude of the privileges they have. They have been given the power to create money, by the trillions, and to give it to their friends, under any terms they wish, with little or no meaningful oversight or accountability. Thus the loudest arguments against greater transparency are likely to come from those friends, and understandably so.
However, it is the responsibility of every member of Congress to represent the interests of the people that sent them to Washington and find out what has been happening with our money. As the branch of government with the power of the purse, we really have no other reasonable choice when the economy is in the shape it is in.
Ron Paul is a republican member of Congress from Texas.
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I'M PRAYING THAT THESE 2 BILLS MAKE IT POSSIBLE TO AUDIT AND ELIMINATE THE FED. I CAN'T IMAGINE WITH ALL I'VE READ ABOUT THIS HEIST THAT IN MY LIFETIME I WOULD SEE THE DEMISE OF IT. I ALSO APPRECIATE THE QUALITY AND AIMS OF THE TENTH AMENDMENT CENTER AND THE PURPOSE IT SERVES FOR AMERICA. I DON'T KNOW OF ANOTHER WEBSITE THAT IS FINER THAN THIS ONE.
Too bad we can't clone Ron Paul.
Ron Paul is the only one in D.C. that I know of with an unblemished track record in regards to preforming his duties as a representative in the interests of the populace of this nation. Research the Federal Reserve which was established in December 1913. It is a privately owned bank, the owners of which are a tightly held secrete. It is known to be owned by both foreign and domestic stockholders none of which have a sense of patriotic duty. To the contrary, they are of a globalist philosophy because many of it's stock holders have interests in the world bank and the I.M.F. (international monetary fund) which is using debt to secure the resources of the world that they want. Our story domestically is that one of the prime implications of the Fed is that our government borrows money from the just as you or I do a bank @ interest, hence the primary source for the national debt.
The I.R.S. is essentially a collection agency for that debt. With the elimination of a precious metal backing of our currency us and our children and theirs have been made slaves by being taxed on our earned wages for hours worked. A?, Where do you think all the money for the bailouts is coming from? It is coming from an agreement by our government to pay it back to the makers of money out of thin air that own the Fed by taxing us and coming generations, thus enslaving us. Also all root source of the monies in country comes from the fed dictates and is then dispersed into the system by them for to the banks we get loans from. The implications of this are that if you have a home mortgage then you are working x amount of hrs. away of your life to the thief's who unconstitutionally make money out of thin air, our founding fathers stated that only congress have the authority to issue a currency and set the value thereof to protect us from the bankers.
Thomas Jefferson expressed his concerns of the privatization of our currency by bankers and the corporations that would rise with it. The reason for his concerns were obvious, he who makes the money can buy any infrastructure to maintain their control or fund the creation of corporations that help them maintain control and deception and place lackey C.E.O.s as figureheads, with them calling the shots. I can assure you the mainstream media is under their control, explaining the lack of outcry and education of whats really going on.
This global economic crisis is a preconceived event perpetrated by the international bankers that own the Fed and many other big banks in the world. The control the mechanisms to pull it off and they are. Not until they have us begging (due to much suffering)for an answer will the economic deterioration end. Their answer will be a radical change in the currencies of the world which will consolidate their control over the people. As for us, they may bypass the intentions of using the Amero for a economically unified Mexico,Canada an U.S. and go to a global cashless system, which are their ultimate intentions anyway.
I am not a proponent of violence but only a fool wouldn't be keeping his powder dry in these times. You have a responsibility to those you love and are depending on you to keep them safe and free.
Ron Paul has thus far demonstrated his patriotism and good conscience for the people. He is questioned in the documentary film FREEDOM TO FASCISM and I recommend this film for viewing and can be found in it's entirety @ google video.
As for having a beer with him, I did, although he wasn't drinking. It was in New Hampshire after the June Republican debates. Us Ron Paulers met him at a pub after the debates and I was placed on some of his videos as I was talking to him. He's about the only one that hasn't betrayed us.
A peaceful revolution is better and is how the process will begin, however, I doubt the fed gov't will allow states to actually secede
Tim, I think you make some very valid points. And, while I oppose the use of violence to try to solve our problems, I strongly support the right to bear arms..the pervasivness of weapons among the general population acts as a deterrent against even greater tyranny.
But, I believe with just flat out resistance by non-participation, nullification, and the like, the federal tyranny will eventually just wither away. Real ID is a great example of what happens with popular opposition.
The second amendment has nothing to do with crime or hunting. It was established to allow people to stand against an out of contol federal gov't in times like this.
Time to bear arms
Time to bear arms? Nope. A peaceful revolution is what's going to be successful. Ron Paul has really got the ball rolling. A few years ago he was getting mocked for bills like this. Now it's getting popular support from all around the political spectrum.
And he didn't have to point a gun at anyone to get the idea out there. Principles and persuasion will win the day against the forces of violence and tyranny in the federal government. Not more violence.
HR 985 will make it impossible to audit the fed. This administration has at its core a well established rule that any information or discussion in the media that is detrimental to it is not to be shared or promoted. Anything that does paint a dim light on it is right wing activism and a possible terrorist threat.
I think as more and more everyday people are having to face the monetary costs of a bloated federal government, the greater the chance that they'll question some of these institutions - the fed, the dea, foreign policy, and the like.
I like how pleasantly Ron offers the detractors the option to discover the reality of the fed through debate. He obviously knows those detractors will be forced to cover their own complicity in defrauding the people or if that isn't possible, to look for a safe harbor to steal away to. Under no circumstance should they receive immunity for a favorable vote to investigate the fed and all its entanglements and schemes.
You can be certain that as the support grows those who remain in opposition, having been offered knowledge of the great public demand for accountability and a well reasoned stance to support auditing and control, have more than a stubborn view to be dealt with.
I don't know that Dr. Paul partakes, but yeah, the basic idea of a good conversation with the man is appealing.
I'd like to sit over a beer with Ron Paul.....
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Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
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