Ron Paul appeared on CNBC’s The Kudlow Report today to continue his attack on the Federal Reserve with a full audit.
Ron Paul appeared on CNBC’s The Kudlow Report today to continue his attack on the Federal Reserve with a full audit.
November 30th, 2009 8:00 am | by Marc Gallagher | Published in Activism, Big Government, Civil Liberties, Commentary, congress, Constitution, Foreign Policy, Health Care, Individual Responsibility, Liberty, Maven Commentary, Politics, War |
Let the bribes begin! Health care debate begins today at 3pm in the U.S. Senate. There was probably a time (likely before I was born) when our lawmakers weren’t so blatant and open about bribing for votes. In some ways it is refreshing (at least they are open about it). Mostly it is just sickening.
Details of the “mock” debate and the real bribery that is about to happen can be found in this nice overview from The Politico:
After months of buildup, the historic debate on health care reform opens on the Senate floor Monday — but the C-SPAN cameras won’t see the real action.
The next phase in the Democrats’ health care push will be waged in the privacy of the Senate leadership office, where Majority Leader Harry Reid (D-Nev.) will attempt to do something that has eluded him all year: negotiate a compromise on the public insurance option that can garner 60 votes and win over a public still leery of reform.
That is one thing I think the article got wrong. There will be no effort to win over the public. There will only be an effort to get 60 votes. They are stricken with Obama-induced tunnel vision. Meanwhile Obama is ready to send more troops to die… er uh.. I mean to “finish the job” in Afghanistan. The Democrats are spineless. If they had any guts they’d hold up the health care debate until Obama stops acting like Bush on foreign interventionism. Also, why the hell aren’t they making a big stink about Obama pushing to keep the evil portions of the Patriot Act the law of the land?
If the tea parties are to really mean something we need to start seeing the stupid Obama-Hitler signs replaced by signs that say something like:
Democrats suck, Republicans suck. Who speaks for Liberty?
100 years ago America’s leaders entered the bathroom and began soiling the Constitution in earnest. With Bush and now Obama, the toilet has been flushed and the water-logged Constitution is spinning down the drain.
The soul of America is withering toward its end. America is on its death bed barely breathing. Don’t give America a chance to whisper her last words. Stand up and act up. Remember…
Friends don’t let friends make laws while drunk on government power.
Originally published November 28, 2009 at http://towneforcongress.com/economy/escaping-the-current-depression-ndash-causes-and-cures-1
Why should you care? Why, for that matter, am I spending time during Thanksgiving weekend writing this and running for U.S. Congress to serve the public as an independent private citizen, when that institution is so corrupted that it would be akin to working in a disease-ridden sewer for someone like me? In the words of Ludwig von Mises in his critique Socialism in 1922:
“Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping towards destruction. Therefore, everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interests of everyone hang on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.”
On November 14, 2009, the Mises Circle met in Newport Beach, California, and gave several lectures relevant to the current depression and how to solve it entitled “The Economic Downturn – Cause and Cure.” Below you will find the videos that will shed a lot of light on what is occurring. All of the speakers are from the Austrian school of economics, otherwise known as REALITY economics, which is completely unlike the half-witted analysis of most “respected” Keynesian economists, such as Paul Krugman and Joseph Stiglitz. Two of the speakers, Thomas DiLorenzo and Robert Murphy were my professors this summer at Mises University. If you like these talks, I highly recommend ordering (for free) a mailing of the Mises Institute’s Free Market newsletter. Below are a couple slides (46-47) I created highlighting key differences between Keynesian and Austrian economics. Read More »
Originally published November 27, 2009 at http://towneforcongress.com/economy/speech-at-the-philadelphia-federal-reserve-november-22-2009-1
Text and video of a fiery speech I gave last Sunday at the FED on November 22, 2009. After this, I gave a 30-minute talk on the transition to sound money, which can be read here. Thanks to Robert Browne for both of the below photos, and to Truth215Freedom and 4FreedomRiderof Youtube for taking the video.
I am running for the 15th Congressional District of Pennsylvania as an independent private citizen.
Today we have the usual career politician who spits upon the Constitution and who does not acknowledge the truth about the money-printing of the Federal Reserve, and endlessly votes to debase the currency for his own political gain and the detriment of those he supposedly represents. This might have something to do with the fact that he has accepted PAC contributions from Bank of America, Citibank, Wells Fargo, JP Morgan Chase, Wachovia, and HSBC and then voted for the Banker Bailout of October 2008. (1) But the 15th did not always have such poor representation.
During the Great Depression in 1934, the representative from the 15thCongressional District of Pennsylvania dared to tell the people the TRUTH about the Federal Reserve. His name was Louis T. McFadden. He dared to impeach all officers of the Federal Reserve with Treason against the Constitution and Theft from the American people by counterfeiting money.
Originally published November 27, 2009 at http://towneforcongress.com/economy/ron-paul-the-gold-price-is-rigged-by-central-banks
In a 13-minute interview on CNBC’s Squawk Box last week, Congressman Ron Paul stated one phrase that really stuck out at around 4:50:
“Gold is money. Gold measures the value of currencies. And right now gold is telling us, in spite of the fact that the gold price is rigged by central banks and various entities, gold is telling us that the dollar is in danger – great danger!! We’re in worse shape then we were in the 70′s, and it was rather chaotic then. So we’re moving into a very dangerous era according to what the gold price is telling us.”
What does Congressman Paul mean? Now, I certainly cannot speak for him, but I am re-posting below my July 2009 article “The Summers Gold Price Suppression Scheme.” Another recent, well-document essay is GATA’s Chris Powell’s speech “Gold Suppression is Public Policy and Public Record.” Be sure to check out my reference to rarely-discussed London Gold Pool of the 1960s, we are living through its modern equivalent currently. Take a look, decide for yourself, and leave any questions you may have below. Read More »
Originally published November 24, 2009 at http://www.nolanchart.com/Article7070.html
WASHINGTON, DC – Today the FDIC released its quarterly report, revealing that the Deposit Insurance Fund is bankrupt and now stands at negative $8.2 billion dollars. (page 13/26) Central planner and FDIC Chairwoman Sheila Bair has confirmed separately that future bank failures will be funded by the bailout fund allotted to the FDIC.
If you are new to the US banking scheme, you might question why banks and the FDIC are going bankrupt — don’t they HAVE all the money? The answer is they do not, banks in July 2008 had lent out about 99.4% of all the money they had on deposit. This is despite the rather insane truth that the Federal Reserve can create more money whenever it desires.
“Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.“
- Josiah Stamp, former President of the Bank of England
Originally published November 23, 2009 at http://towneforcongress.com/economy/end-the-fed-then-what-the-transition-to-sound-money-1
On November 22, 2009 I delivered some remarks after a rally and march at the Federal Reserve Bank of Philadelphia. Following my return from China, this was the first time I had the chance to speak publicly on the transition phase to sound money, and while there are plenty of FED critics, it is still rare to find solid ideas on how best to replace the FED, and furthermore, how such a transition be accomplished. Though stymied by government interventions in the short term, I believe the free market will win out in the long term. For instance, there were probably over 100 people in the crowd I spoke to that possess physical gold and silver. The dollar-denominated prices of gold and silver continue to rise at blistering rates since 2001 as the collapse of the dollar and fiat currencies unfolds.
It is so very important to realize that what we are seeing is not so much the appreciation of gold and silver as it is the unmasking of the devaluation in the dollar by the central banks. My sincere thanks to the late Dr. Murray Rothbard where one day, while sitting in Shanghai skyscraper, a single mouseclick led me down the rabbit hole, and I began to start discovering the truth about the current dishonest monetary system.
“END THE FED…. Then What? – The Transition to Sound Money” is the title of my talk today, and it’s a bit of an ambitious undertaking for a half an hour, but it’s an important topic since all of us who gathered here to protest the Federal Reserve today need to also have a plan on how best to replace the FED and the fiat monetary system. One note before I begin. I openly acknowledge that my idea is at best a starting point, and I welcome a healthy debate on this topic. I have given this particular topic quite a bit of research since first becoming aware that the dollar was not backed by gold about 2 years ago, and this past summer I attended Mises University, which is one of the very few places in the nation where one can study Austrian free market economics – the other two places being George Mason University in DC, and Grove City College in Pittsburgh.
by John Browne – Senior Market Strategist, Euro Pacific Capital
Over past years, we at Euro Pacific have taken an increasingly jaundiced view of paper currencies and written repeatedly about gold as an alternative. Along the way, we have urged investors to consider both the security and physical accessibility of their gold investments, and have advocated for at least some holdings to be in physical form. There are those who may have felt our views were overly cautious, even alarmist. Now, however, it is increasingly clear that major investors, including even central banks, are following our advice. Meanwhile, we continue to set the curve by calling for an even greater share of investors’ portfolios to be in physical bullion or secure equivalents.
Despite the trials Western economies have already experienced, worse economic times still lie ahead. The current administration appears unable to accept the pain of deleveraging and has instead set upon a course of limitless public-sector spending, financed by increased taxation, deficits, and the covert debasement of the U.S. dollar. Obama’s acolytes haven’t acknowledged the threat that their policies could cause the dollar to lose its privileged position as the world’s reserve currency, which would devastate the relative value of the U.S. dollar and many paper investments denominated in dollars, including Treasuries. Indeed, it would likely trigger a second financial collapse, this time with accompanying hyperinflation.
To protect their wealth from inflation and financial panic, big players like hedge funds, sovereign wealth funds, and central banks are turning not just to gold, but to physical gold.
Many investors are demanding and prepared to pay for physical delivery. This indicates an intention to remain invested for a significant period of time, removing considerable selling pressure from the market. More concerning, the willingness to finance physical delivery and storage indicates a fundamental decline in the credibility of paper contracts.
For centuries, gold has been the bane of profligate governments. For decades, Western governments, led by the U.S., have sought to demonetize the ‘embarrassing’ metal. Most recently, the U.S. led other central banks into the secretive Central Bank Gold Agreements (CBGA). These were designed to coordinate, through the IMF, the sale of some 500 metric tonnes of central bank gold into the market each year. The covert aim has been to make gold less attractive by concealing its appreciation and, simultaneously, create maximum price volatility to destroy gold’s legitimacy as a monetary instrument.
D o w n s i z e r – D i s p a t c h
* The House version of the bill (H.R. 1207) has 313 co-sponsors
* The Senate version (H.R. 604) has 30 co-sponsors
And last week, Ron Paul along with Rep. Alan Grayson introduced a version of the bill as an amendment to H.R. 3996, Rep. Barney Frank’s mammoth banking regulation bill.
In spite of Chairman Frank’s opposition, the Paul-Grayson amendment passed the House Financial Services Committee 43-26!
This is reason to celebrate, but it’s also the first stage in a long process. Unless we keep up the pressure on Congress, this amendment could be stripped from the bill in later negotiations.
And there’s a catch: the larger bill, H.R. 3996, is awful. Ron Paul will probably oppose this bill even if his amendment is included.
With this in mind, please write a letter to Congress demanding an audit of the Fed.
The hardwired portion of the letter at DownsizeDC.org begins,
“I support H.R. 1207, the Federal Reserve Transparency Act of 2009, and S. 604, the Federal Reserve Sunshine Act of 2009. Please pass legislation requiring an audit of the Fed.”
Here’s the rest of the letter I sent to Congress . . . Read More »
November 24th, 2009 3:49 pm | by Marc Gallagher | Published in Big Government, Commentary, congress, Constitution, Economics, Federal Reserve, Free Market, government spending, inflation, Liberty, Market Regulation, Maven Commentary, Money, Politics, Ron Paul | 5 Responses
By now everyone probably knows that Ron Paul’s bill, HR.1207, was passed as an amendment tacked on to the gigantic unconstitutional financial regulatory reform bill. By this measure, Paul’s effort to have a full audit of the Fed is poisoned by the underlying bill. So the question becomes, will Ron Paul himself vote against the bill even though it contains the fruits of his own labors. Earlier this week on CNBC he gave an indication that he would not vote for the bill because of all the new powers contained within it.
Ron Paul is still fighting to get HR.1207 passed as a standalone bill, but it is unlikely to get much traction in that form.
It is certainly plausible that Barney Frank, who’s been playing both sides of the audit, fought so hard to include Paul’s bill as part of the larger regulatory reform bill, in an attempt to poison Paul’s legislation to the point that Paul could not vote for it. However, like many of Paul’s votes, the effort may backfire. Frank’s regulatory reform bill is likely to pass with or without Paul’s vote. Ron Paul could vote against Frank’s bill, keeping his constitutional integrity, and the bill could still pass the House. The question then becomes how will it get through the Senate? And if it makes it through the Senate intact, will Obama sign the bill?
Jim DeMint and Bernie Sanders will work to get the bill through the Senate, but Judd Gregg promises to filibuster the bill if it includes Paul’s amendment. Much like all the others critical of a Fed audit, Gregg argues that the amendment will end the Fed’s independence. A day after Paul appeared on CNBC, Former Fed Governor, Ric Mishkin attempts to argue Gregg’s point. Much like those interviewing him, I’m not convinced.
If the bill should happen to make it through the Senate with Paul’s amendment attached it seems likely Obama would sign the bill. After all he wants regulatory reform and he has shown he won’t veto legislation just because it has a bit of poison in it. For instance, he signed a credit card company regulatory bill that had an amendment attached to it that allows concealed carry in National Parks earlier this year. Of course, allowing a complete audit of the Federal Reserve may be too much for Obama to swallow.
That is, if the Fed and it’s former Enron lobbyist, Linda Robertson, have any say in the matter. Incidentally, you can get an internal look at some of the tactics/arm-pulling she does as part of her career choice by reading the email correspondence she had when she was working at Enron during its final year in business. The emails were released in 2003 and are available for searching at EnronExplorer.com. Of note is an email about her suggesting she be congratulated for winning the Treasury Department’s “Alexander Hamilton” award. How appropriate, now that defending the central bank is her primary job duty.
After perusing her emails it seems quite obvious she is behind the many editorials from former Fed officials and advisors arguing against Paul’s effort at an audit. What isn’t clear is why Judd Gregg is coming out against it. Perhaps, he was targeted by Robertson as someone who is not planning on running for re-election so he can safely speak out against something 75% of Americans say they want. He doesn’t exactly have a squeaky clean record when it comes to conflicts of interest.
Instead of the audit being attached to the larger bill being a poison pill for Paul it could end up being a poison pill for Obama in the long run, but a lot must happen before that becomes a reality.