Liberty Maven

Musing on the famous poem by American poet Henry Wadsworth Longfellow and the world monetary system. A European organization called the United Future World Currency created by former central bankers is exposed.

by Jake Towne, the Champion of the Constitution

Originally published on Thursday, July 9, 2009 at http://www.nolanchart.com/article6610.html

Yesterday I was unpacking my books from China, a chore that took a few hours. I came upon a wonderfully illustrated, hardbound edition of Henry Wadsworth Longfellow’s “The Wreck of the Hesperus.” Unable to resist, I sat down and cracked it open – the copy is about 70 years old.  (photo1 photo2)

For a little background, Longfellow was a New Englander who lived seaside for much of his life from 1807-1882. Many of his poems have a rhythmic cadence, and he is also very well known for the poem “Paul Revere’s Ride.” Here is “The Wreck of the Hesperus:”

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Earlier we posted Ron Paul’s two question and answer periods during today’s House committee hearing on Federal Reserve Independence. Ron Paul’s opening statement for the hearing is below.

He argues, in a preemptive strike, against what the Vice Chair attempts to use as an argument against Paul’s HR1207 later in the hearing.

An addendum the the previous video posted earlier where Ron Paul asked Fed Vice Chair questions during a Federal Reserve hearing here is the second set of questions from Dr. Paul for the 2nd panel.

He asks Dr. Allan Metzger about the difference between the term “independence” and “transparency”. He then expresses a bit of tongue and cheek shock that James Kenneth Galbraith (also on the panel) brought up the Constitution in his opening testimony, and a few other questions. Galbraith then agrees that he believes Paul’s HR1207 is proper, that members of Congress are entitled to the information an audit would provide.

You can view all the opening statements regarding this hearing at this House Finanacial Services Committee web page.

Watch this latest clip below and look for video of Ron Paul’s opening statement a bit later.

Ron Paul questioned Vice Chairman of the Federal Reserve Board of Governors today in a hearing on Fed independence on Capitol Hill today.

It’s now their “official” opinion that auditing the Federal Reserve completely will inhibit their ability to do their job, which apparently is to print money endlessly forcing a hidden tax on every person who trades in U.S. dollars.

Watch the exchange below.

Just more subterfuge in the fight to audit the Fed. Call your Senators and Congress folk about HR1207 and S604!

The bailouts are becoming recursive.  Recovery.gov was created as a “public-facing website to foster greater accountability and transparency in the use of covered funds“.  You know, so they can show us that the money is being used “wisely.”

But now it’s being reported that $18 million in additional funds well be spent to overhaul the recovery.gov web site.

Swell.

Of course it’s being trumpeted as a wonderful thing by the Recovery Accountability and Transparency Board.  Chairman Earl Devaney said:

We are pleased that another major milestone has been achieved.

Another milestone towards what?  Utter bankruptcy?

The Republican National Committee has already put out a mock ad for the new site:

The Senate version, S.604, of Ron Paul’s audit the Federal Reserve Bill (HR.1207) has doubled in cosponsors. Sure it “only” had 3 before today, but now it has 6.

One of the new cosponsors is Sam Brownback (R-KS) who also ran for the GOP Presidential nomination last year along with Ron Paul.

HR.1207 is now up to 254 cosponsors. I wonder if they would bring it up for a vote if the  entire House other than Pelosi and Barney Frank were to cosponsor it. Probably not.

I think this new support for S.604 is due to Jim DeMint starting the fight for it in the Senate the other day. Keep their phones ringing!

Unbelievable action from the Riksbank, Government Sachs, and commentary from Joe Saluzzi of Themis Trading, yet a little funny at the same time. As the Romans would say “Hostem inveni et interfice.”

by Jake Towne, the Champion of the Constitution

Originally published Wednesday, July 8, 2009 at http://www.nolanchart.com/article6604.html

Watch this really short Youtube clip, or read the dialogue for those without speakers:

Swedish Chef, from the Riksbank: “Yum, yum, yum for the Chocolate! Good, good! Chocolate!” (stirs batter)

Swedish Chef: “… And now, the mousse! Moose, moose! Moo, the moose!!” (pulls a moose into the room, pets it)

Swedish Chef: “… And now, the chocolate and the moose!!” (splats some chocolate on the moose’s nose)

Kermit, the Austrian Economist: “Wait a minute!! Enough!! Stop!!!”

Ever see something that is just complete nonsense? From the perspective of the Austrian economist, the below also qualifies.

The Swedish Krona (SEK) is one of the world’s “top” currencies. Along with 5 other currencies, it defines the Dollar Index (see “The Money Matrix – What is a Dollar Bill Worth? (PART 2/15)“). Tomorrow, on July 8^th, the Swedish central bank, the Riksbank will cut the deposit rate to -0.25%. That’s not a misprint. Negative 0.25%. Our central planners, Bernanke, Geithner, Summers and Bair are probably looking on with jealousy.

A negative deposit rate means that for balances held by member banks at the Riksbank, they will lose money over time. The banks may then even charge their customers a negative rate for carrying a balance. This might make some sense, but the banks don’t even have the money to start with!! Just like America’s FED, the Swedes practice fractional reserve banking, which by its very nature is completely fraudulent – the banks have very little of the depositor’s money, about 3-4% for the American banking system as I showed here “Off a Cliff with No Airbags: The FED Banking System Quivers in Fright“.

Why wouldn’t a Swede, say with 20,000 SEK, just take out his money, covert it into paper, and rent a security box at the bank for 50 SEK? If he keeps his currency in electronic form, he will lose about 50 SEK for the year anyways!

The Kermit in me just wants to shout, “STOP, YOU IDIOTS!!!”  This Keynesian stupidity has no apparent end.

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