Liberty MavenRon Paul on the Real Reasons Behind Fed Secrecy
September 29th, 2009 1:29 pm | by Mike Miller | Published in Bailouts, Banking, Big Government, Debt, Federal Reserve, Free Market, Liberty, Politics, Ron Paul, congress, government spending, inflation | 1
Ron Paul described in this week’s Texas Straight Talk column the recent hearing for HR1207 and the witnesses who testified on both sides of the issue. Here is part of it:
If the Fed gave its actual arguments against a full audit, they would not have mentioned anything about political independence or economic stability. Instead they would admit they don’t want to be audited because they enjoy their current situation too much. Under the guise of currency control, they are able to help out powerful allies on Wall Street, in exchange for lucrative jobs or who-knows-what favors later on. An audit would expose the Fed as a massive fraud perpetrated on this country, enriching a privileged few bankers at the top of our economic food chain, and leaving the rest of us with massively devalued dollars which we are forced to use by law. An audit would make people realize that, while Bernie Madoff defrauded a lot of investors for a lot of money, the Fed has defrauded every one of us by destroying the value of our money. An honest and full accounting of how the money system really works in this country would mean there is not much of a chance the American people would stand for it anymore.
Follow LM on Twitter
September 29th, 2009 at 10:36 pm (#)
It kinda reminds me of Andrew Jackson's premonition back in 1834 when he said." Events have satisfied my mind and I think the minds of the American people, that the mischiefs and dangers which flow from a national bank far overbalance all it's advantages. The bold effort the present bank made to control the Government, the distresses it has wantonly produced
the violence of which it has been the occasion in one of our cities famed for it's observance of law and order, are but premonitions of fate which awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.