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Author Topic: YES WE CAN! Ron Paul's H.R.1207 has 302 cosponsors / 30 cosponsors in Senate  (Read 113320 times)
qwerty_1
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« Reply #520 on: July 21, 2009, 12:49:28 PM »

HR 1207 now at 275 - S 604 now at 17!

http://www.campaignforliberty.com/blog.php?view=22199

Good info about HR 1207, http://www.dailypaul.com/node/90775

Good info about S 604, http://www.dailypaul.com/node/92815

 Cool
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Ghost in the Machine
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« Reply #521 on: July 21, 2009, 02:05:40 PM »

Is 280 Veto-Proof?

290 but we need more some might change they're minds!
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« Reply #522 on: July 21, 2009, 02:06:38 PM »

300 is what you need for a beer Wink

Sane what kind of beer are you gonna send me buddy,  Grin
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« Reply #523 on: July 21, 2009, 02:18:44 PM »

Sane what kind of beer are you gonna send me buddy,  Grin

an internet coupon for a 12 oz of "The Beast" (Milwalkee's Best)

only the finest for fellow members!
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luckee1
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« Reply #524 on: July 21, 2009, 02:31:10 PM »

Blech!
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jflack
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« Reply #525 on: July 21, 2009, 02:47:04 PM »

Ron Paul Comments and audit the Fed comments in bold

Bernanke says Fed can take on supercop role

By JEANNINE AVERSA

AP Economics Writer

Related

Talton | Ten questions we'd really like to have Bernanke answer
WASHINGTON —
Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from lawmakers wary of expanding the Fed's duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place.

"The Fed has made some big mistakes," said Rep. Spencer Bachus, R-Ala., ranking member of the House Financial Services Committee.

An Obama administration proposal to make the Fed the supercop of globally interconnected financial companies would be "just inviting a false sense of security that inevitably will be shattered at the expense of the taxpayer," Bachus warned.

Bernanke countered that the administration's proposal would be a "modest reorientation" of the Fed's powers, not a great expansion of them.

The Fed boss sought to assure investors and Congress that the central bank will be able to reel in its extraordinary economic stimulus and prevent a flare up of inflation once a recovery is firmly rooted. Still, any such steps will be far off in the future. The central bank's focus remains "fostering economic recovery," he said.

Bernanke also worked to beat back an administration proposal to create a new consumer protection regulator for financial services and strip some of those duties from the central bank. The House panel delayed a committee vote on that legislation until September.

Consumer groups and lawmakers have blamed the Fed for failing to crack down early on dubious mortgages practices that fed the housing boom and figured into its collapse. Later this week, the Fed will issue a proposal to boost disclosures on mortgages and home equity lines of credit. It also will include new rules governing the compensation of mortgage originators.

Bernanke also argued against congressional proposals to let the Government Accountability Office, Congress' investigative arm, audit the central bank. He feared that audits that delve into the Fed's interest-rate decisions could compromise its independence in setting interest-rate policies.

"A perceived loss of monetary policy independence could raise fears about future inflation," he warned.

Rep. Ron Paul, R-Texas, a frequent Fed critic, rejected that argument and said the Fed already makes political calculations.

"Just the fact that (the Fed) can issue a lot of loans and special privileges to banks and corporations," Paul said. "That's political."


Rep. Bill Posey, R-Fla., who wants the Fed to be more open, argued that some people rightly say "you can find out more about the operations of the CIA, than the Fed. The public has the right to know."

Bernanke's term expires early next year, and President Barack Obama will have to decide whether to reappoint him. The Fed chief's innovative policies have been credited with pulling the economy from the edge of the abyss last year.

But those actions also have touched off criticism about putting taxpayers at risk and whether the government should be cleaning up Wall Street messes.

Bernanke again pledged to keep its key bank lending rate at a record low near zero for an "extended period." Economists predict rates will stay at record lows through the rest of this year.

Laying out a plan now to unwind the Fed's stimulus could give Bernanke more leeway to hold rates at record lows to brace the economy. It could ease investors' fears that the Fed's aggressive steps to end the longest recession since World War II could spur inflation later on.

"It is important to assure the public and the markets that the extraordinary policy measures we have taken in response to the financial crisis and the recession can be withdrawn in a smooth and timely manner as needed, thereby avoiding the risk that policy stimulus could lead to a future rise in inflation," Bernanke said. "We are confident that we have the necessary tools to implement that strategy when appropriate."

But House committee chairman Barney Frank, D-Mass., said it is important that the Fed not take those actions "prematurely" and snuff out a recovery.

Nigel Gault, economist at IHS Global Insight, said Bernanke wanted to send Congress a clear message: "Our monetary exit strategy is ready. Don't try to interfere with it."

On Wall Street, bond investors took comfort in Bernanke's remarks, pushing Treasury prices higher. The Dow Jones industrial average added about 35 points in afternoon trading, while broader indices dipped.

To revive the economy, the Fed has plowed trillions into the financial system in an effort to drive down rates on mortgages and other consumer debt. It also has created programs to bust through credit clogs, a key ingredient in turning the economy around.

Eventually, the Fed will need to soak up that money.

Besides raising its key bank lending rate, the Fed can raise the rate it pays banks on reserve balances held at the central bank, Bernanke said. That would give banks an incentive to keep their money parked there, rather having it flow back into the economy, where it can stoke inflationary pressures.

The Fed also can drain money from the financial system by selling securities from its portfolio with an agreement to buy them back at a later date. Or it can sell securities outright.

Steering the economy from recession to recovery will be a delicate move for Bernanke - economically and politically.

Bernanke repeated the Fed's forecast that the economy should start growing again in the second half of this year. But he warned that growth would be slight, leading to higher unemployment.

The nation's unemployment rate climbed to a 26-year high of 9.5 percent in June. The Fed says it could rise as high as 10.1 percent this year and stay elevated into 2011. The post-World War II high was 10.8 percent at the end of 1982.

"We have a very long haul" back to full economic health, Bernanke told lawmakers.
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jofortruth
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« Reply #526 on: July 21, 2009, 06:09:26 PM »

The Count is now 275:  (As stated above)
http://www.scribd.com/doc/15095120/HR-1207-Federal-Reserve-Transparency-Act-of-2009-Cosponsors

The new Co-Sponsors are:

Rep Rick Boucher [D-VA]
Rep David Scott [D-GA]
Rep John F. Tierney [D-MA]
Rep Peter J. Visclosky[D-IN]

House Reps who still refuse to Co-Sponsor this Bill. I hear there are mid-term elections in 2010. Remember these names:
http://www.scribd.com/doc/17353079/HR-1207-House-Reps-Not-CoSponsors-Yet-Listed-by-State
 http://www.scribd.com/doc/16495678/HR-1207-House-Members-Who-Have-Not-Signed-as-Cosponsors-


Yes, 4 new Senators S. 604 - The Count is now 17:
http://www.scribd.com/doc/17172196/S-604-Federal-Reserve-Sunshine-Act-Senate-Contact-Info

Sen Tom Coburn [R-OK]
Sen John Cornyn [R-TX]
Sen Tom Harkin [D-IA]
Sen Kay Bailey Hutchison [R-TX]
   
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TheCaliKid
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What can we do about it, really?


« Reply #527 on: July 21, 2009, 06:20:08 PM »


This is all I get:



I hate California.....can't wait to leave.
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jofortruth
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« Reply #528 on: July 21, 2009, 06:26:05 PM »

DawnIsMyGoddess,

Californians need to gang up on these idiots and get them out of office. The sooner, the better. I'm not sure what their problem is (ignorance or sellouts or maybe both) either way they need to go. They have allowed California to be impoded financially, and that should end their jobs as Congressmen!

WHY DO YOU PEOPLE PUT UP WITH THIS FROM YOUR REPS AND SENATORS?Huh?? THE WORD SHOULD BE - FIRE THEM!
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TheCaliKid
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« Reply #529 on: July 21, 2009, 06:56:39 PM »


jofortruth -


When Feinstein and Boxer went in, I was about 9 years old.

When I told him that I want to leave California because I can't take it anymore, this is what my father (who is about 75% Neo-Con), had to say: "It doesn't matter where you go, you can't get ahead of the wave". I guess it's that sunny attitude that keeps the incumbents in office.....

When I pointed out that 20 years ago, California passed draconian gun laws that to this day 95% of other states do not have, he had nothing to say.

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luckee1
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« Reply #530 on: July 21, 2009, 06:58:04 PM »

This is the letter I sent to Lamar Alexander (TN)



I am quoting you here:"The audit ? It’s a bad idea,” said Tennessee Sen. Lamar Alexander, head of the Republican Conference in the Senate. “It’s a sorry day when the Congress superimposes itself on the Fed, nosing around in monetary policy. It’s bad enough we are nosing around with the car companies."

That is a way wrong answer!  You are the people's representative of Tennessee.  It is we who want the audit.  You are hired by election to do our will and to represent us.  Do your job and audit the Federal Reserve.  You would fire anyone who you had hired to manage funds improperly and refused to give an accounting.  So too, will we fire you.  This is a right to hire (fire) state.

I cannot believe you are the same guy that walked across the state of Tennessee when running for Governor.  Have you lost your identity up there in D.C?

Best Regards
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« Reply #531 on: July 21, 2009, 07:28:36 PM »

This is all I get:



I hate California.....can't wait to leave.

I feel you, were run buy greedy idiots...
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« Reply #532 on: July 21, 2009, 07:36:46 PM »

Ron Paul must be doing one heck of a job!  wow
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« Reply #533 on: July 22, 2009, 01:59:13 PM »

Keep up the phone calls, letters to Congress (NEED MORE TO THE SENATE).

We must demand they listen to us this time, and if they don't, DO NOT VOTE FOR THEM EVER AGAIN! THE SELLOUTS AND SPINELESS CREATURES IN THIS CONGRESS MUST LOSE THEIR JOBS, JUST LIKE WHAT IS HAPPENING TO THE PEOPLE, because they have failed in their jobs as Congressmen and have allowed the banking elites to run over them, and/or buy them. This weakness in our so called leaders is UNFORGIVEABLE!

Wouldn't it be nice if we had more in Congress like RON PAUL. This guy is smart, sincere, a man's man, and isn't afraid to stand alone IF HE IS RIGHT ON AN ISSUE. He is ruled by his conscience and doing what's right, while many of the other Congressmen are bumbling idiots who vote in lockstep with whoever rules them (or whoever they can get favors from). These weak people aren't leaders, they are FOOLS!

Congress - START ACTING LIKE THE LEADERS YOU CLAIM TO BE, OR YOU WILL BE HELD RESPONSIBLE FOR EVERYTHING THE BANKERS ARE BEING ALLOWED TO DO TO THIS COUNTRY THAT IS DESTROYING IT!

 Angry
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« Reply #534 on: July 22, 2009, 04:18:23 PM »


Anyone here worried that an 'audit' of the Fed will lead to the abolition of the Fed and the creation of a "Global Fed"? This would be the prefect pretext.

Just a thought, there guys are always 10 moves ahead you know......I wish people were on board 15 years ago...... 
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Dig
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« Reply #535 on: July 22, 2009, 04:43:42 PM »

Anyone here worried that an 'audit' of the Fed will lead to the abolition of the Fed and the creation of a "Global Fed"? This would be the prefect pretext.

Just a thought, there guys are always 10 moves ahead you know......I wish people were on board 15 years ago...... 

for the fifth time [note: there is a CoIntelPro created rumor that RP is helping to bring in the IMF too]:

actually we want to expose before the planned demolition, that is why this is so important.  We already know all about the IMF/World Bank solution.  This exposes that "solution" as even more tyranny over freedom.


Concerning any BS about Ron Paul supporting the IMF...

I posted this a while ago, give it to anyone who believes that insanity:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Anyone who thinks that the IMF system of worldwide genocide is a solution to the Federal Reserve's system of illegal wars, false flags, and creation of boom/busts is insane:

~~~~~~~~~~~~~~~~~~

Argentinian Documentary Exposing the IMF strategy
 to bankrupt/enslave a wealthy, industrial country

http://video.google.com/videoplay?docid=4353655982817317115&hl=en

More on the Collapse: (Doing the same to America right now - PLEASE READ!)

http://z4.invisionfree.com/The_Great_Deception/index.php?showtopic=5524&st=0

An Argentine opinion on the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme. Like a pyramid, it has four sides and is a predictable model. The four sides are: (1) Artificially control the supply of public State-issued Currency, (2) Artificially impose Banking Money as the primary source of funding in the economy, (3) Promote doing everything by Debt and (4) Erect complex channels that allow privatizing profits when the Model is in expansion mode and socialize losses when the model goes into contraction mode.

Salbuchi - Global Financial Collapse - Part 1
http://www.youtube.com/watch?v=UlDNMB6wYmI

Salbuchi - Global Financial Collapse - Part 2
http://www.youtube.com/watch?v=78ddURofMWs

~~~~~~~~~~~~~~~~~~~~~~~~~

John Pilger
The New rulers of The World
How the IMF destroyed Indonesia

53 min - Aug 5, 2006 -
John Pilger exposes how the IMF raped resource rich Indonesia of all wealth and how they have destined the next 10 generations to perpetual slavery
http://video.google.com/videoplay?docid=-7932485454526581006

~~~~~~~~~~~~~~~~~

Thankfully Dr. Ron Paul is very clear on this issue.

http://www.ronpaullibrary.org/search/search.php?q=IMF

1. Ron Paul, Ending US Membership in the IMF | Ron Paul Library
... Statement on Ending US Membership in the IMF Mr. Speaker, I rise to ... support for the International Monetary Fund (IMF). Rooted in a discredited economic ... disregard for fundamental constitutional principles, the IMF forces American taxpayers to subsidize large, ... the latest example of the folly of IMF policies. Only four years ago the world economy was rocked by an IMF-created disaster in Asia. The IMF regularly puts the taxpayer on the hook ... dictators. The only constituency for the IMF is the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail...

2. Ron Paul, Statement on the Argentine crisis | Ron Paul Library
... economy is the International Monetary Fund (IMF), which enjoys a $37 ... the latest example of the folly of IMF policies. Only three years ago the world economy was rocked by an IMF-created disaster in Asia. The IMF regularly puts taxpayers on the hook for ... dictators. The only constituency for the IMF are the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail ... Chairman, the damage inflicted by the IMF on Argentina is immense and inexcusable. This is yet further proof that the IMF was a bad idea from the very...

3. Ron Paul, The IMF Con | Ron Paul Library
... The IMF Con The IMF Con September 27, 2004 You won t hear either ... banks and corporations in particular love the IMF, as both used IMF funds-- taxpayer funds-- ... for the poor. In fact, IMF loans often do far more harm than good. At best IMF borrowers are governments of countries with little ... stop participating in international schemes like the IMF altogether. The IMF and other complex schemes only serve to...

4. Ron Paul, Argentine Default and the IMF | Ron Paul Library
... 14, 2002 Argentine Default and the IMF Imagine a hypothetical bank run by a ... called the International Monetary Fund. The IMF is an international organization comprised of member ... Congress fund such a lousy scheme? IMF supporters claim the organization exists to fight ... the evidence shows otherwise. At best IMF borrowers are governments of countries with little ... adds to their poverty and instability. IMF money ultimately corrupts those countries it purports .... In truth, Congress funds the IMF because of the corporate interests it subsidizes ... huge multinational banks and corporations love the IMF. Big banks used IMF funds- taxpayer funds- to bail...

5. Ron Paul, Hearings on Russian Money Laundering | Ron Paul Library
... law enforcement investigation. Given that the IMF claims not to know what happened to ... them, we should not allow the IMF to hide behind the shallow defense that ... we must demand a higher standard: IMF, World Bank and U.S ... head of the congressional commission on the IMF, asked recently whether the use of IMF funds could be traced, Joint Economic .... Petersburg Times ("Skuratov Says IMF Billions Sold on the Sly," ... 1999, "Get Rid Of The IMF," when they said, "The only way to stop [the IMF] from sucking up scarce resources to...

6. Ron Paul, Abortion and National Sovereignty: No Compromises | Ron Paul Library
... members voting to support funding of the United Nations and IMF. The Mexico City Policy was drafted in the ... creates large loopholes. Meanwhile, the United Nations and IMF are two international organizations which frequently act in a ... to the funding of the false UN debt and the IMF at the end of the last session of Congress ... discussed has the Republican Congress voting to approve both new IMF funding and the payment of the phony UN debt ... sovereignty by providing further taxpayer funds to organizations such as IMF and the United Nations. Fortunately many conservative pro ... penny of US taxpayer dollars to the United Nations or IMF. Although I believe that this "grand deal...

7. Ron Paul, Conduct of Monetary Policy | Ron Paul Library
.... I argued against such funding because (1) IMF-recommended currency devaluations price our agricultural goods out of the market, (2) IMF money subsidizes our agricultural competitors, and (3) IMF bailout countries have higher protectionist barriers than other countries ( ..., May 11, 1998, Agricultural Exports and the IMF: Separating Myth from Reality). The National Family Farm Coalition points out that following IMF devaluation guidelines exacerbates our agricultural trade deficits. Agricultural exports ... devaluation of over 40%. US agricultural exports to IMF bailout countries dried up during the Asian crises....

8. Ron Paul, Sorry, Mr. Franklin, "We're All Democrats Now | Ron Paul Library
... institutions, while the poor end up in drug-infested, crime-ridden housing projects. For the same reason, not only do business leaders not object to the system, but they also become strong supporters of welfare programs and foreign aid. Big business strongly supports programs like the Export/Import Bank, the IMF, the World Bank, farm subsidies, and military adventurism. Tax-code revisions and government contracts mean big profits for those who are well-connected. Concern for individual liberty is pushed to the bottom of the priority list for both the poor and rich welfare recipients. Prohibitions placed in the Constitution against programs...

9. Ron Paul, What is Free Trade? | Ron Paul Library
... by the U.S. Congress, and yet too often the Congress has been quite willing to renege on that responsibility through fast-track legislation and deliver this authority to our President, as well as delivering through agreements, laws being passed and treaties, delivering this authority to international bodies such as the UN-IMF-World Trade Organizations, where they make decisions that affect us and our national sovereignty. The World Trade Organization has been in existence for 5 years. We voted to join the World Trade Organization in the fall of 1994 in the lame duck session after the Republicans took over the control of the House and Senate...

10. Ron Paul, The Shrimp Importation Financing Fairness Act | Ron Paul Library
..., the American taxpayer could be forced to shovel more money to these countries through the International Monetary Fund (IMF). Many of the countries in question do not have free-market economics. Thus, the ... of shrimp in the first six months of 2002. The bill also reduces America's contribution to the IMF by America's pro rata share of any IMF aid provided to one of those seven countries. Mr. Speaker, it is time for Congress to rein...

11. Ron Paul, The End of Dollar Hegemony | Ron Paul Library
... good as gold. Even during the Depression, one of Roosevelt s first acts was to remove free market gold pricing as an indication of a flawed monetary system by making it illegal for American citizens to own gold. Economic law eventually limited that effort, as it did in the early 1970s when our Treasury and the IMF tried to fix the price of gold by dumping tons into the market to dampen the enthusiasm of those seeking a safe haven for a falling dollar after gold ownership was re-legalized. Once again the effort between 1980 and 2000 to fool the market as to the true value of the dollar proved unsuccessful. In...

12. Ron Paul, The Beginning of the End of Fiat Money | Ron Paul Library
... out any expression of concern for rising deficits. The effort in recent decades to unify government surveillance over all world trade and international financial transactions through the UN, IMF, World Bank, WTO, ICC, the OECD, and the Bank of International Settlements can never substitute for a peaceful world based on true free trade ... aided these trends with all being helped with advances in computer technology. But the artificial nature of today's world trade and finance being systematically managed by the IMF, the World Bank and WTO, and driven by a worldwide fiat monetary system, has produced imbalances that have already prompted many sudden adjustments. There have...

13. Ron Paul, Your Taxes Fund South American Bailout | Ron Paul Library
... loan by getting a bigger loan, like a hapless spendthrift using one credit card to pay off another. What s worse is that American taxpayers already fund the IMF with a $37 billion line of credit, so Uruguay will be paying us back with our own money! The same goes for Brazil, which just received a record $30 billion from the IMF to deal with its own looming bank collapse. Why the sudden interest in Uruguay? Treasury Secretary O Neill s statement on the matter makes it sound like Uruguay...

14. Ron Paul, Challenge to America: A Current Assessment of Our Republic | Ron Paul Library
... rep. Ron Paul - Challenge To America: A Current Assessment Of Our Republic CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC -- (House of Representatives - February 07, 2001) The beginning of the 21st Century lends itself to a reassessment of our history and gives us an opportunity to redirect our country's future course if deemed prudent. The main question before the new Congress and the Administration is: Are we to have gridlock or cooperation? Today we refer to cooperation as bipartisanship. Some argue that bipartisanship is absolutely necessary for the American democracy to survive. The media never mention a concern for the survival of...

15. Ron Paul, Selected Greenspan-Paul Congressional Exchanges | Ron Paul Library
... Ron Paul, Selected Greenspan-Paul Congressional Exchanges | Ron Paul Library Selected Greenspan-Paul Congressional Exchanges before the U.S. House of Representatives' Committee on Financial Services 1997-2005 3/5/1997 Mr. PAUL. Thank you, Mr. Chairman. Mr. Chairman, I want to bring up the subject again about the CPI. We have talked a lot about the CPI and an effort to calculate our cost-of-living in this country, and specifically here, to measure how much we are going to increase the benefits that we are responsible for. But in reality, is not this attempt...

16. Ron Paul, A Foreign Policy for Peace, Prosperity, and Liberty | Ron Paul Library
... If our goal is honestly to remove dictators around the world, then this is the beginning of an endless task. In the transition from the original American foreign policy of peace, trade, and neutrality to that of world policeman, we have sacrificed our sovereignty to world government organizations, such as the UN, the IMF, the World Bank, and the WTO. To further confuse and undermine our position, we currently have embarked on a policy of unilateralism within these world organizations. This means we accept the principle of globalized government when it pleases us, but when it doesn't, we ignore it for the sake of...

17. Ron Paul, Potential For War | Ron Paul Library
... was the foreign sales corporation changes dictated to us by the WTO. For years the U.S. has accepted the international financial and currency management of the IMF, another arm of one-world government. The World Bank serves as the distributor of international welfare, of which the U.S. taxpayer is ... of taking money from poor Americans and giving it to rich foreign leaders, with kickbacks to some of our international corporations. Support for the World Bank, the IMF, the international criminal court, always comes from the elites and almost never from the common man. These programs, run by the international institutions, are...

18. Ron Paul, Wrong debate in House 'leadership' race | Ron Paul Library
... believe they are entitled to taxpayer largesse. The clashes are over big-government details: the welfare poor versus the welfare rich; a foreign policy of propping up right-wing dictators versus left-wing dictators; a war on poverty or a war on drugs; "protecting" the environment or bailing out the IMF. But in the Halls of Congress, little said and less is done about getting the government out of our lives, out of our wallets and off our land. In 1994 the American people expressed a desire for leaders who push for less government. The lackadaisical effort, poor results and perceived sell-outs...

19. Ron Paul, Where To From Here? | Ron Paul Library
... were members of the controversial and highly secretive Skull and Bones Society. This fact elicited no interest with the media in the campaign. Both candidates supported the Iraq War and the continuation of it. Both supported the Patriot Act and its controversial attack on personal privacy. Both supported the UN and the internationalism of UNESCO, IMF, World Bank, and the WTO. Both candidates agreed that a president can initiate war without a declaration by Congress. Both supported foreign interventionism in general, foreign aid, and pursuing American interests by maintaining a worldwide American empire. Both supported our current monetary system, which permits the Federal Reserve to accommodate deficit...

20. Ron Paul, A Republic, If You Can Keep It | Ron Paul Library
... A Republic, If You Can Keep It January 31 February 2, 2000 A Republic, If You Can Keep It ------------ Statement of HON. RON PAUL OF TEXAS 1. Introduction The dawn of a new century and millennium is upon us and prompts many to reflect on our past and prepare for the future. Our nation, divinely blessed, has much to be thankful for. The blessings of liberty resulting from the republic our forefathers designed have far surpassed the wildest dreams of all previous generations. The form of government secured by the Declaration of Independence, the American Revolution,...

21. Ron Paul, International Trade | Ron Paul Library
... the lack thereof, of low tariffs and free trade with China. But instead, I suggest we look more carefully for the cause of the coming currency crisis. We should study the nature of all the world currencies and the mischief that fiat money causes, and resist the temptation to rely on the WTO, the IMF, the World Bank, pseudo free trade, to solve the problems that only serious currency reform can address. Technorati: Politics Technorati: Ron Paul Icerocket: Politics Icerocket: Ron Paul The complete collection of writings by Ron Paul.Iraq war,taxes,health care,abortion,borders,gun control,...

22. Ron Paul, Relations with Russia. It's Time to End US Interventionism | Ron Paul Library
... they are seeking out their old enemies as scapegoats. The Russian bear has never stopped being a ferocious one, and our own policy, which is analogous to continually poking, prodding and otherwise "climbing into the cage" with that bear, is not and has not been in our own best interests. Through the IMF, the World Bank and other such entities we have continued to provide foreign aid to the bear. In doing this we are in essence feeding a very unfriendly entity. Our US leaders have told us how we need to continue subsidizing the bear because that is the way, so they say, to keep the...

23. Ron Paul, Congress Sends Billions Overseas | Ron Paul Library
... the region. $90 million for electric power plant construction in North Korea. Why are we building power plants for brutal communist dictatorships? Millions for Iraq, Cambodia, and Sudan, all of which have oppressive governments. Do we really think the citizens will get the money? $1.4 billion for the IMF and World Bank, which simply make bad loans to questionable governments at U.S. taxpayer expense. $753 million for the Export-Import Bank, which subsidizes big U.S. corporations by giving risky loans to foreign buyers of American exports, again at the expense of taxpayers. It's...

24. Ron Paul, NeoCon Global Government | Ron Paul Library
..., major donors, major troop contributing countries, appropriate United Nations organizations, the World Bank, and the International Monetary Fund among others. This new commission will create the beginning of a global UN army. It will claim the right to intervene in any conflict anywhere on the globe, bringing the World Bank and the IMF formally into the picture as well. It is a complete new world order, but undertaken with the enthusiastic support of many of those who consider themselves among the most strident UN critics. Conservatives who have been critical of the UN in the past have enthusiastically embraced this bill and the concept of UN reform. But...

25. Ron Paul, The Case for Defending America | Ron Paul Library
... Congressman Ron Pauljanuary 24, 2002, in the House of Representatives The Case for Defending America As we begin this new legislative session, we cannot avoid reflecting on this past year. All Americans will remember the moment and place when tragedy hit us on September 11th. We also all know that a good philosophy to follow is to turn adversity into something positive, if at all possible. Although we have suffered for years from a flawed foreign policy and were already in a recession before the attacks, the severity of these events has forced many of us to reassess our foreign and domestic policies. Hopefully, positive changes will come of this...

26. Ron Paul, Statement on Paul Amendment to Defund the United Nations | Ron Paul Library
... Yes, it is true, it has not been passed, but these are the plans that have been laid and they are continued to be discussed and they are moving in that direction. Today we have international government that manages trade through the WTO. We have international government that manages all international financial transactions through the IMF. We have an international government that manages welfare through the World Bank. Do these institutions really help the poor people of the world? Hardly. They help the people who control the hands of power in these international institutions and generally they help the very wealthy, the bankers, and the international corporations. It...

27. Ron Paul, The Financial Services committee's "Views and Estimates for Fiscal Year 2003" | Ron Paul Library
... work to reduce government interference in the market that only benefits the politically powerful. For example, the committee could take a major step toward ending corporate welfare by holding hearings and a mark-up on my legislation to withdrawal the United States from the Bretton Woods Agreement and end taxpayer support for the International Monetary Fund (IMF). The Financial Services committee can also take a step toward restoring Congress' constitutional role in monetary policy by acting on my Monetary Freedom and Accountability Act (HR 3732), which requires Congressional approval before the federal government buys or sells gold. This committee should also examine seriously the need for reform of the...

28. Ron Paul, The Financial Services Committee's Terrible Blueprint for 2004 | Ron Paul Library
... work to reduce government interference in the market that only benefits the politically powerful. For example, the committee could take a major step toward ending corporate welfare by holding hearings and a mark-up on my legislation to withdraw the United States from the Bretton Woods Agreement and end taxpayer support for the International Monetary Fund (IMF). The Financial Services Committee can also take a step toward restoring Congress constitutional role in monetary policy by passing legislation requiring congressional approval before the federal government buys or sells gold. Perhaps the most disappointing omission from the committee s views is the failure to address monetary policy. This is especially troubling given that many...

29. Ron Paul, The Lessons of 9/11 | Ron Paul Library
... The Lessons of 9/11 HON. RON PAUL OF TEXAS BEFORE THE US HOUSE OF REPRESENTATIVES April 22, 2004 The Lessons of 9/11 We are constantly admonished to remember the lessons of 9/11. Of course the real issue is not remembering, but rather knowing what the pertinent lesson of that sad day is. The 9/11 Commission soon will release its report after months of fanfare by those whose reputations are at stake. The many hours and dollars spent on the investigation may well reveal little we don t already know, while ignoring the most important lessons that should be learned from this egregious attack on our...

30. Ron Paul, Foolishness of Fiat | Ron Paul Library
... has tried for more than a decade to stimulate its economy and boost its stock market by printing money and increasing government spending - and it hasn't worked. Argentina, even with the hopes placed in its currency board is nevertheless facing default on its foreign debt and a crisis in confidence. More bailouts from the IMF and the US dollar may temper the crisis for a short time, but ultimately it will only hurt the dollar and US taxpayers. We cannot expect to continually bail out others with expansion of the dollar money supply, as we have with the crises in Turkey, Argentina, and countries of southeast Asia. This...

31. Ron Paul, Time To Get Serious With Big Government | Ron Paul Library
... administering these programs. Rather, the real issue is that these organizations threaten the very idea of self-government and self-determination. We do not need to change the policies these institutions are following. We need to shut down the entire international monetary apparatus and end the international welfare state. The World Bank and IMF are not merely a significant drain on U.S. taxpayers and a threat to self-government. They also use the leverage that they purchase with our tax dollars, as a means to force less developed countries to take on new and harmful fiscal, monetary and economic regulations. This serves to leave these...

32. Ron Paul, Hard Questions for Federal Reserve Chairman Greenspan | Ron Paul Library
... value of the dollar which I think we neglect here in the Congress, here in the committee and I do not think that the Federal Reserve has done a good job in protecting the value of the dollar. And it seems that maybe others are coming around to this viewpoint because I see that the head of the IMF this week, Mr. Koehler has expressed a concern and made a suggestion that all the central bankers of the world need to lay plans in the near future to possibly prop up the dollar. So others have this same concern. "You have in your testimony expressed concern about the greed factor which obviously is...

33. Ron Paul, Why Initiate War on Iraq? | Ron Paul Library
... trade agreements only when they please us, flaunting the consensus, without rejecting internationalism on principle- as we should. The way these international events will eventually play out is unknown, and in the process we expose ourselves to great danger. Instead of replacing today's international government, (the United Nations, the IMF, the World Bank, the WTO, the international criminal court) with free and independent republics, it is more likely that we will see a rise of militant nationalism with a penchant for solving problems with arms and protectionism rather than free trade and peaceful negotiations. The last thing this world needs is the development...

34. Ron Paul, The US Dollar and the World Economy | Ron Paul Library
.... Now it looks like the international financial system built on paper money is coming to an end. Modern-day globalism, since gold's demise thirty years ago, has been based on a purely fiat US dollar, with all other currencies tied to the dollar. International redistribution and management of wealth through the IMF, the World Bank, and the WTO have promoted this new version of globalism. This type of globalism depends on trusting central bankers to maintain currency values and the international institutions to manage trade equitably, while bailing out weak economies with dollar inflation. This, of course, has only been possible because the dollar...

35. Ron Paul, How Americans are Subsidizing Organized Crime in Russia | Ron Paul Library
... TST: How Americans are Subsidizing Organized Crime in Russia March 6, 2000 How Americans are Subsidizing Organized Crime in Russia Next We Will Be Sending the FBI Abroad to Fight that Crime Organized crime in Russia is a well-known problem. One of the arguments used for not sending IMF funds to Russia was the pervasive corruption throughout their government. As quickly as the funds were appropriated, they were laundered through New York banks and off to a numbered Swiss account - probably with very little actually ever passing through to Moscow. But the proponents of aid won't give up; our tax dollars, they argue, are vital for...
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« Reply #536 on: July 22, 2009, 05:59:04 PM »


I hope your right, Sane. I think you are based on how much they are flipping out right now.

BTW, I have never heard that RP is supporting the IMF.


I am proud to say that I am one of those who knew about RP long before he was a household name.....I have supported him since the late 90's.
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« Reply #537 on: July 22, 2009, 06:41:39 PM »

I hope your right, Sane. I think you are based on how much they are flipping out right now.

BTW, I have never heard that RP is supporting the IMF.


I am proud to say that I am one of those who knew about RP long before he was a household name.....I have supported him since the late 90's.

yeah i know you have not fallen into the rp disinfo, but there is a cointel inspired whisper about openning up the fed being destructive. it is bs, they are planning to implode the fed, we need an audit before that scheduled implosion. and they are fighting hard on this, pelosi is acting like the bill does not exist.
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« Reply #538 on: July 22, 2009, 06:44:40 PM »

yeah i know you have not fallen into the rp disinfo, but there is a cointel inspired whisper about openning up the fed being destructive. it is bs, they are planning to implode the fed, we need an audit before that scheduled implosion. and they are fighting hard on this, pelosi is acting like the bill does not exist.


You're right, SANE!

WE NEED TO KEEP CALLING, DAILY IF IT TAKES IT, TO FORCE THEM TO BRING THIS UP FOR A HOUSE VOTE! NOTHING ELSE IS ACCEPTABLE! KEEP CALLING FOLKS, THIS IS UNCONSCIONABLE THAT A BILL WOULD HAVE THIS MANY CO-SPONSORS AND PELOSI AND FRANK BASICALLY ARE IGNORING IT. INEXCUSEABLE!
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« Reply #539 on: July 22, 2009, 07:30:07 PM »

Are we still at 275?
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« Reply #540 on: July 22, 2009, 07:47:43 PM »


yeah i know you have not fallen into the rp disinfo, but there is a cointel inspired whisper about openning up the fed being destructive. it is bs, they are planning to implode the fed, we need an audit before that scheduled implosion. and they are fighting hard on this, pelosi is acting like the bill does not exist.

Yes, acting like it does not exist when there are so many.

So then you agree that the Fed will end? If we do indeed audit it, what then? What should be our plan? 
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« Reply #541 on: July 22, 2009, 09:51:32 PM »

Yes, acting like it does not exist when there are so many.

So then you agree that the Fed will end? If we do indeed audit it, what then? What should be our plan? 

plan?

plans are for the 10,000 insecure deceptive psychopaths. keep exposing the truth to the billions, no other plan is needed. the fed just stole 23 trillion. WERE THE F*CK DID IT GO? Just keep asking that question wherever you go.

Actually there are a few plans, check with campaign for liberty and the local mods in the financial rooms should be able to help
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« Reply #542 on: July 23, 2009, 01:50:08 AM »


Never say never I guess. I also guess that you never thought you'd be buying all of us beer!!!!  Grin Grin Grin Grin Grin
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« Reply #543 on: July 23, 2009, 07:57:43 AM »

Never say never I guess. I also guess that you never thought you'd be buying all of us beer!!!!  Grin Grin Grin Grin Grin

damn right about that one. good thing it is the beast!
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« Reply #544 on: July 23, 2009, 03:40:08 PM »

The Count is now 276:


New CoSponsor:

Rep Kathleen A. Dahlkemper (D-PA)


Reps who have STILL NOT co-sponsored this bill. You need to remember their names at Election time! No more chances!
http://www.scribd.com/doc/17353079/HR-1207-House-Reps-Not-CoSponsors-Yet-Listed-by-State

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« Reply #545 on: July 25, 2009, 01:05:09 AM »

I only voted 1 time in my whole life and that was for ron paul Sad
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« Reply #546 on: July 25, 2009, 03:05:01 AM »

They want the Fed bankrupted and finished....dont we all,its just the alternative is worse...yall better get a bookend to your wishes,or things are going to accelerate even faster(if thats possible)than it already has this year... Cry
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« Reply #547 on: July 25, 2009, 11:26:44 AM »

2 More CoSponsors in the Senate: (Totals 19 now)


Sen Orrin G. Hatch [R-UT]
Sen Lindsey Graham [R-SC]


(Watch to make sure they actually support this when it comes to a vote. They will say one thing, do another (like so many in Congress)!  Roll Eyes

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« Reply #548 on: July 25, 2009, 11:45:56 AM »


Yes, 4 new Senators S. 604 - The Count is now 17:
http://www.scribd.com/doc/17172196/S-604-Federal-Reserve-Sunshine-Act-Senate-Contact-Info

Sen Tom Coburn [R-OK]
Sen John Cornyn [R-TX]
Sen Tom Harkin [D-IA]
Sen Kay Bailey Hutchison [R-TX]
   



Sen Kay Bailey Hutchison   !? This thing will either not pass or the rabbit hole just got deeper...
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« Reply #549 on: July 25, 2009, 02:05:25 PM »

Ron Paul’s HR 1207 transcends partisan politics and upsets Congressional leadership
http://www.politicallore.com/writers/shaun-booth/ron-paul%E2%80%99s-hr-1207-transcends-partisan-politics-and-upsets-congressional-leadership/1086
Post Date: July 25th, 2009



On Wednesday a highlight of Federal Reserve Chairman Ben Bernanke’s testimony in front of the House Financial Services Committee was the five minutes he endured relentless questioning from Florida Democratic Congressman Alan Grayson. Grayson refused to allow Bernanke to avoid the question of why $500 billion had gone to foreign central banks instead of remaining in the United States. In the end Bernanke did not have any logical answers for Grayson.

That moment was a microcosm of something larger that is taking place in the House of Representatives as a result of HR 1207. Alan Grayson was the first Democrat who cosigned House Resolution 1207, Ron Paul’s bill to audit the Federal Reserve. Since Grayson cosponsored the bill over 90 of his fellow Democrats have followed.

HR 1207 is a perfect example of Congressmen willing to come together, though they might not agree across the spectrum of their political platforms, on an important issue by important issue basis.

So the question that keeps coming up is, “if HR 1207 has such tremendous bipartisan support, why is it still having a difficult time being brought to the House floor for a vote?”

The answer that Ron Paul continues to give is that the leadership in Congress want nothing to do with the bill, at least until it is substantially watered down.

The next question then becomes what does the leadership in the House (i.e. Nancy Pelosi, Barney Frank…etc.) have against having transparency in the Federal Reserve System?
I do not believe they have a vested interest in the continuing secrecy of the Federal Reserve System other than their interest to obey orders that are coming from President Obama’s administration.

Once the Obama Administration becomes the focus of the question the picture begins to come into focus.

Obama himself received over $1 million in campaign contributions from Goldman Sachs, an organization that has benefited greatly from the Fed’s recent actions.

The close ties between Wall Street and the White House has for many years allowed the
Federal Reserve to continue to operate unsupervised by the Congress.

The subtlety of Ron Paul’s bill to simply audit the Federal Reserve is its genius, not to say he has been secretive that he believes that an audit would be followed shortly by public outrage.

But the focus on transparency is something that is difficult for most Congressmen to put up a valid argument against. This leaves the Federal Reserve, namely Ben Bernanke, and eventually the leadership in the House and Senate (the Senate has a similar bill that as of this writing has 17 cosponsors) looking foolish when they are forced to use illogical arguments to justify not bringing the bill to the floor.

Ben Bernanke’s argument has essentially boiled down to his fear that if Congress had the power to audit the fed, it would politicize monetary policy, such as the setting of interest rates…etc.

The politicizing of monetary policy is already here and would be no worse if there were transparency. Transparency would simply give Congress the ability to criticize the actions of the Fed with evidence. Instead of the guessing game that has been taking place in recent hearings.

After an audit, Congressmen would be able to level accusations during hearings with solid evidence to back up their accusations. Rather than Bernanke being able to play dumb and claim to not know key information.
Perhaps the most intriguing part to me about a potential audit of the Federal Reserve is something Donald Rumsfeld famously called “the unknown, unknowns.”

Ron Paul and everyone solidly in his camp has a good idea that an audit would cause outrage not only among members of Congress but across the nation, but there could be things lurking in those books that send shock waves around the world. I’ll let you use your imagination…
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« Reply #550 on: July 25, 2009, 02:06:08 PM »

No Longer Alone, Ron Paul Fights the Fed
http://blogs.wsj.com/economics/2009/07/20/no-longer-alone-ron-paul-fights-the-fed/tab/print/
July 20, 2009, 9:27 PM ET



Rep. Ron Paul usually stands far outside the mainstream in Congress, particularly in his campaign to kill the Federal Reserve. But the Texas Republican now has the bulk of his colleagues standing alongside him in a fight against the central bank’s autonomy.

His bill to audit the Fed, just three pages long, has 274 co-sponsors — every House Republican and almost 100 Democrats — and counting. “People are upset,” he says. “People are demanding more transparency of the Fed, and they’re supporting me on this.”

The longtime Fed critic would prefer an economy without a central bank, where the market sets interest rates and troubled firms are left to sink. He blames the Fed for the past century’s financial bubbles and worries about its ability to monetize debt to finance government spending, even though Fed officials insist they’d never allow it.

Mr. Paul sees transparency as a first step in making the public more aware of the Fed’s ability to electronically print money to support the banking system. The revelations from an audit will “expose to the American people exactly how the Federal Reserve operates,” he says. “Because when they fully understand how they operate, what they do, how they manipulate monetary policy and interest rates, they will finally figure out that it’s the Fed that has caused all the mischief.”

Most of the lawmakers who have signed on as co-sponsors of the legislation don’t share Mr. Paul’s anti-Fed stance. They say Congress has an oversight role and needs a full accounting of how much money the Fed has lent — and to whom.

Some lawmakers signed up as an expression of disapproval after learning more about the Fed’s decisions to lend money to firms such as AIG. Many others say greater scrutiny is critical before any discussion of expanding the Fed’s authority in other areas, as the Obama administration proposes. “Bringing transparency and accountability to the Federal Reserve through an audit will help ensure that tax dollars are not wasted,” said Rep. John Boehner of Ohio, the House’s top Republican.

Rep. Brad Sherman, a California Democrat, says none of the Depression-era lawmakers who gave the Fed its power to lend to nonfinancial institutions “ever thought it would involve trillions of dollars.” He said the Fed system’s unique structure, with private officials leading the regional Fed banks, also needs a review by congressional auditors. “Anyone exercising governmental power should be subjected to governmental oversight.”

Even lawmakers who are less eager to sign on acknowledge the momentum. If the Fed gets added responsibilities, “there wouldn’t be any question in my mind that a bill would be passed,” said Rep. Paul Kanjorski, a senior Democrat who has not taken a position on the legislation. “They would have to buy into much more regular audit control of the Fed.”

Mr. Paul recognizes that his movement to audit the central bank  ultimately may help the Obama administration expand the Fed’s oversight role in the economy.

“I think what they’ll do is they’ll give in to some of the transparency at the same time they’ll give them more power,” Mr. Paul said. “We’re going to be bugging you a lot more. We’re going to be keeping eyes on you. That might be the way. Maybe inadvertently I’ll help them get more power at the Fed.”
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« Reply #551 on: July 25, 2009, 02:08:02 PM »

Dr. No's moment
http://dyn.politico.com/printstory.cfm?uuid=8FF498BF-18FE-70B2-A8826490ADA91B12
By: Daniel Libit
July 18, 2009 06:22 PM EST

“He hasn’t bombed Iran yet,” says Ron Paul, when asked to assess the best and worst characteristics of President Barack Obama’s six months in office.

“The worst thing is he is probably still thinking about it.”

No sooner does the representative from Texas’ 14th Congressional District, nicknamed “Dr. No” by his detractors, find himself embraced by mainstream Republicans (and even some Democrats) on domestic policy issues, then he pivots his focus to foreign affairs.

Obama, Paul told POLITICO during a sit-down in his office this week, “has talked a little better than his action, but he has already expanded [the number of troops] in Afghanistan and Pakistan. He became the peace candidate: ‘Yeah, we’re going to end that war in Iraq.’ But it’s not sincere. I don't think they had any intention, never did.”

It’s a unique time for Paul. With the economy in the tank, the same cable news shows that spurned him during the election now keep asking him on to talk monetary policy. Republican House members are finally voting with him on spending measures.

But following his exhilarant, if quixotic, quest for the presidency, Paul finds himself simultaneously gratified and frustrated by his return to the friendlier-than-before confines of the House of Representatives. He thinks he’s well situated in Congress to push for his libertarian causes, but then claims he doesn't "pay a whole lot of attention" to the activity on the House floor these days, adding, "I don't think it's relevant to the big picture.”

“A lot of this is just tinkering, bailing out, more money, more spending, no shift of direction and it's a little bit frustrating," he says.

Asked if he feels more embraced by the Republican Party establishment, Paul shrugs and says, "half and half.”

"I think there's respect. But they don't call me in and say, ‘What we need to find out from you is how you reach the young people.’"

As for another presidential run in 2012, “I don’t think that’s likely,” Paul says.

But in the next breath, he admits that he would have made the same prediction three years before his last run for the party’s banner. And he questions whether the names being bandied about as possible Republican nominees will connect to his supporters.

“The one thing that is characteristic about anybody who joins us is that they are energized and everybody recognizes that," Paul says. "We also know that it is the energy in a small group of people that really leads nations.”

"Let's say I have 15 percent of Republicans and [Mitt] Romney has 30 percent. If his people aren't energized, our guys might stand for three of his."

As for soon-to-be departing Alaska Gov. Sarah Palin, Paul dismisses her supporters as "more establishment, conventional Country-Club type of Republicans.”

"I wonder whether she's energizing the 15-20 year olds," Paul muses. "That would be a question I would have. Because she doesn't talk about the Federal Reserve and some of these issues. She doesn't talk too much about personal liberties, civil liberties, getting rid of drug laws, attacking the war on drugs, punishing people who torture."


Worse still, he adds, Palinites are partisans: “If Obama was the only one who was guilty, they would be on his case all the time, but there is a lot of partisanship and I am probably less partisan and therefore she is going to appeal to partisan Republicans better.”

As Paul sees it, such partisanship is the rough equivalent of an old Onion headline, “"Our local area sports team is superior to your local area sports team," Or as he puts it, “I think when it comes to foreign policy and monetary policy on big spending and watching out for the big corporations, Republicans are Democrats.”

And then he reverses again crediting Obama for restoring, however unintentionally, Republican principles.

“Republicans now are conservatives again” since the election, he says. “They are more consistent in voting against all these spending [measures]. And I kid them, I say, ‘are you guys voting with me now or am I voting with you?’

“Of course, they would always complain when I voted against Republican spending.“

Looking back at his presidential run, Paul seems sincerely surprised: He’s stayed the same, but suddenly the young folk who were whistling past him for years stopped to listen, even as the party’s other candidates did their best to ignore him.

“Some people say, ‘Oh, that was a good strategy,’” Paul says. “It was no more strategy than a man on the moon. It was just that I knew what I believed in, I kept talking about it, knew the problems were coming. I really assumed I would probably be back in medicine or something when the crisis hit.”

The Campaign for Liberty, the grass-roots organization that grew out of Paul's presidential campaign, has raised over $3 million since last June, attracting some 200,000 members.

“It just sort of baffles me," says Paul, shrinking, as he tends to do, when the notion of his star quality is raised.

And as of last week, 271 members of the House – about one-third of them Democrats – have signed onto HR-1207; a measure Paul introduced last February to audit the Federal Reserve.

When the Campaign for Liberty had a petition drop in support of the measure some six weeks ago, members were informed the night before that there would be a photo-op with Paul. Even with such late notice, 11 showed up to have their picture taken with "Dr. No," including Tom Cole, the former chair of the NRCC.

At the same time, Paul shrugs off his role in the House. “So I don’t work here so much. I didn’t get many signatures, because I have sort of twisted arms or put on pressure. Plus, I have nothing to trade, I am not a committee chairman and don’t have any clout, but because we have grassroots support, they got energized, and that’s how we have [271 members]…on the bill.”
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« Reply #552 on: July 25, 2009, 02:09:05 PM »

Ron Paul Wants to Shine More Light on the Fed
http://industry.bnet.com/financial-services/10001695/ron-paul-wants-to-shine-light-on-fed/
By Alain Sherter | July 21st, 2009 @ 4:13 pm


A rabble-rousing pol from East Texas, accusing the Federal Reserve of fealty to Wall Street, seeks to bring the ostensibly autonomous agency under political control once and for all. Come on down, Ron Paul!

Actually, try Wright Patman, circa 1963. The longtime congressman for decades attacked the Fed as a secretive, unaccountable cabal of elites who ignored the interests of average Americans. As chairman of the House Banking Committee in the early 1960s, Patman launched a comprehensive review of the Fed. Like Paul, a fellow Texan and populist firebrand, Patman wanted to hobble the agency by subordinating it to the Executive branch. According to some historical accounts, then-Fed chairman William McChesney Martin had to cut a deal with President Lyndon Johnson under which LBJ agreed to quash Patman’s investigation (what is it about Texans?) in exchange for the Fed maintaining low interest rates, which was necessary to help finance the escalating war in Vietnam.

All this to say that battles over the Fed’s “independence” from politics go way back, virtually to the time of its creation in 1913. In the latest salvo, Paul wants to pass a bill that would require the Fed to submit to government audit, giving taxpayers a sense of what fiscal beasts might be lurking in its balance sheet. It’s not the first time that Paul, who like Patman contends the Fed is beholden to financial interests, has gone after the agency, and in the past he’s made noises about abolishing it altogether. Those efforts never went anywhere, especially when Alan Greenspan was turning the Fed into his own cult of personality.


Ah, but what a difference an epic financial meltdown can make! Paul’s measure has considerable support on Capitol Hill, uniting Paul and other libertarian cranks, free market fundamentalists like John Boehner, progressive crusaders like Dennis Kucinich, and even more moderate members of the tribe. If these partisans share bipartisan consensus on one thing, it’s that the Fed screwed up — first, by not spotting the flames licking at the financial system, then by failing to act decisively to put out the blaze (although they disagree on what started the fire in the first place).

Not coincidentally, this urge to shackle the Fed coincides with the White House’s proposal to anoint the agency as, in the lingo of the moment, a “macroprudential regulator” charged with bleeding off systemic risk. In Washington, where turf is everything, great power comes not only with great responsibility, but also with greater congressional oversight.

Question is, to oversee what, exactly, and at what cost? The usual argument for an autonomous Fed is that it insulates monetary policy from politics. According to this theory, it’s a good idea to keep government’s greedy mitts off the piggybank. A sensible notion, given that politicos’ myopic focus on short-term goals, like raising money and getting re-elected, often conflicts with longer term concerns such as adjusting interest rates and otherwise keeping the economy on course.

Makes sense, right? But independence at the Fed has always skewed closer to an ideal than to reality. The agency is far from immune from political pressure, as the LBJ and many other episodes illustrate. Critics also point to the Fed’s proclivity for trimming its sails around election time in deference to whatever ruling party is at the helm. Most important, the Fed’s role is changing. As construed by the Obama administration, the agency’s new mandate goes far beyond its original mission of setting monetary policy to include policing the entire financial system.

And while Fed governors may not be directly accountable to the political class, in recent years they have generally shared a common philosophy on the markets, financial regulation and how to sustain economic growth. What does it mean to be independent if everyone shares the same core beliefs?

Fine, the Fed wasn’t the only financial supervisor who blew it. Every regulator from the Treasury on down willfully ignored the danger signs, as did most lawmakers and economists. But only the agency’s staunchest defenders, or someone trying to save his skin, would argue that the Fed performed well, or even adequately, as the bubbles were forming.

So Paul has a point. Given the Fed’s recent dismal track record and growing power in shaping economic policy, a little more public oversight is in order.
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« Reply #553 on: July 25, 2009, 02:10:02 PM »

Ron Paul's "audit the Fed" bill is a no-brainer!
http://www.examiner.com/x-12119-San-Miguel-County-Environmental-Policy-Examiner~y2009m7d20-Ron-Pauls-audit-the-Fed-bill-is-a-nobrainer
July 20, 1:54 PM

 
Representative Ron Paul has got some momentum behind his ‘audit the Fed’ bill.  On both sides of the aisle.  And for good cause:  Why shouldn’t the people have access to the records of this secretive bank, the very bank with a monopoly to mint US coin?

Trillions of dollars of stimulus funds were routed to the Fed where, ultimately, they disappeared.  No one knows where they went.  Apparently, not even upper Fed management.  This should be troubling, especially since during just one month (March, 2009) the Fed increased its System liquidity $2.2 trillion.  (See the Fed’s minutes, here: http://www.federalreserve.gov/monetarypolicy/files/fomcminutes20090429.pdf)

They’ve also been using the money, allegedly, to not buy up toxic assets as they had promised, but to buy banks!  The Fed is increasing its holdings while people like you and me are losing our homes!

Rather than giving all this money to a private bank, which has no obligation to disclose its operations to anyone – not even Congress – wouldn’t it make more sense to give funds directly to US Citizens?  After all, these are our tax dollars.  It’s our money to begin with.  This enormous pile of cash could help struggling homeowners, buoy up new green energy businesses, and bring a revolution of real change (not merely turning the dollar into change) to bring economic stability to the world.  Your share of the stimulus is well over $20,000.  What would you do with that?

Trickle up is not a ridiculous as it sounds.  After all, didn’t former President Bush say the best way Americans can help the economy after 9/11 was to buy a car?  Or go out to eat?  Be a patriot, he said, go shopping.

Instead, our government gives failing banks our money, a lot of it to the Fed which just prints money anyway.  Yes, the Fed prints money out of thin air to lend to the government, so that we pay back massive interest as income tax.  This is a debt-regulated economy, the value of our currency is maintained by debt – debt attached to every dollar issued.  Income tax helps pull this ‘interest’ out of circulation, maintaining an artificial scarcity.  It’s not a value-based scarcity, it’s a Fed based scarcity.  As a result, today’s dollar is worth less than 4 cents of its 1913 value, when the Federal Reserve Act was allegedly passed.  This makes the dollar one of the worst performing currencies in global history.

That’s a whole controversy we don’t need to get into.  But the fact remains, this secretive bank, ultimately held privately by unknown investors, is inimical to our economy over the long term.  This whole mess leads right back to it.  We’ve all read the quotes by the founding fathers that bankers are more dangerous to liberty than standing armies (to paraphrase Jefferson), and so many other statements one might think we would demand real change from this system of social exploit.  Instead, Obama wants to give the Fed more powers, more of our money, and continue the slide of economic destruction and exploding corporate coffers while we become homeless, powerless, utterly dependent.

Ron Paul is aware of this, and has garnered overwhelming support for his bill.  It’s time we audited the Fed, and subjected them to the same scrutiny they give us.  Moreover, it’s time these stimulus funds were put where they will do most good:  Supporting programs to assist struggling homeowners keep their homes.  It was shoddy banking policy that led millions of Americans into balloon-mortgages with insane rate adjustments.  It was shoddy banking policy that created the boom and bust cycle of the last 50 years, by increasing lending with the excessive printing of ‘fake’ money.  It was shoddy banking management that invented these toxic-assets, the derivative market, and made billions vanish.  And it was shoddy banking policy (greed) which coerced homeowners with the promise of homeownership, only to run away with all their hard-earned cash.

Giving funds to programs that help homeowners get back on their feet would be huge.  It would increase spending – folks can now afford to buy that dinner at a family restaurant.  They could afford energy audits to upgrade the efficiency of their homes.  And, perhaps most important of all, it would stabilize housing value.

But the banks need to live, they must survive, you can hear their plaintive cry.  Meanwhile millions of Americans must be made homeless, and sacrifice their property to feed the beast.  Don't get me wrong, I'm saying that the banks are the beast.  A beast who's appetite breeds hunger; the more it's fed, the more ravenous it becomes.  It's feeding on the constitution - has already partially digested it – and is belching up the American flag.

What we're seeing is backwards, insane economics.  Yet this is what is happening, and the elite expect you not to notice.  Money is just to boring, you say, or I don’t understand the economy.  What is money? You ask.  It doesn’t make any sense.  Well, I’ll tell you.  Money, today, is merely an agreement.  A fabrication.  A manufactured marriage.  It's almost an outright lie.  All of the banking and economic 'laws' are founded on our own invention to make some rich – it’s not like gravity, some fundamental law, it’s utterly contrived.  Today’s money has no intrinsic worth, other than the agreement you have to accept it.  Moreover, it must be regulated by debt to keep you believing it’s worth it.  But as it is contrived to begin with – there’s no immutable physical law guiding it – we can simply re-invent it.  In fact, we must.

It becomes necessary to reinvent money.  Any system of exchange can be used in lieu of money.  Abraham Lincoln tried this, with his Greenbucks.  And we can too.  Someone should.  We need a currency backed by goods and services, our goods and services, not some Harvard banker’s lust for numbers and interest.  We need a currency backed by carbon.

That said, in any historical instance where a ‘complementary currency’ was engendered to stave off massive deflation (for example, the Bavarian town of Worgl), aside from massive reductions in unemployment, increasing productivity, and economic rejuvenation on scales unseen, there has always been a central bank ready to declare such tender illegal.  They want it to pay your way to jail.  That way they can keep playing God, and print value on worthless bits of paper and rise above it all.

 This did happen in Worgl.  The owner of a coal mine was defaulting on his property simply because he couldn’t afford to pay the miners millions of Schillings a day.  Wage negotiations would precede every work day, sometimes with bitter consequences.  In the end, being a sharp wit, he offered to pay people with a scrip which he named after the town – the Worgl.  This scrip was backed by the very coal they were mining, each redeemable for a bushel or so.  The town government adopted the experiment.

Literally over night the unemployment rate tumbled, from well over 30% of the population to less than 3%.  Sure enough, surrounding municipalities adopted the new ‘money’ with similar benefits to the communities.  The Prime Minister of France, Edouard Dalladier, actually flew to Austria to see the ‘miracle of the Worgl.’

Soon more than 200 Austrian townships were ready to adopt the Worgl.  The Central Bank panicked.  Like a hoarding dragon it exerted their monopoly on German currency with flame and scales.  It took the Worgl to court.  It became illegal to issue ‘emergency currency,’ and the towns spiraled into economic decay and the same 30% unemployment.  The economy tumbled, poverty ensued.  A barrow-load of money was needed to buy a loaf of bread.  The situation was ripe for the rise of an impassioned leader, someone who could feed the starving millions with rhetoric and bombastic promises....  Of course, it was Adolph Hitler, and the rest, as they say, is history.

This is America, and here we can make our own laws (supposedly).  Therefore we must audit the Fed as a first step.  If they won’t play ball we should start thinking about our own emergency currencies so we can weather this storm, grant municipalities ways to provide goods and services to their people.  If the Federal Government won’t do it’s job, then it’s up to us to empower the States, our towns and communities.  We have the constitutional right to seek happiness and liberty, not be foisted oppression under some ridiculous, elitist banking scheme.

Corporate malfeasance and elitist money-whoring are no longer acceptable.  We, the American people, should not stand for it.  Check out Ron Paul’s HR 1207, and audit the Fed.  Do it now.

http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/
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« Reply #554 on: July 25, 2009, 02:24:58 PM »

Ron Paul’s HR 1207 transcends partisan politics and upsets Congressional leadership
http://www.politicallore.com/writers/shaun-booth/ron-paul%E2%80%99s-hr-1207-transcends-partisan-politics-and-upsets-congressional-leadership/1086
Post Date: July 25th, 2009

On Wednesday a highlight of Federal Reserve Chairman Ben Bernanke’s testimony in front of the House Financial Services Committee was the five minutes he endured relentless questioning from Florida Democratic Congressman Alan Grayson. Grayson refused to allow Bernanke to avoid the question of why $500 billion had gone to foreign central banks instead of remaining in the United States. In the end Bernanke did not have any logical answers for Grayson.


The Video of Grayson OWNING Bernanke (for those who haven't seen it):
http://www.youtube.com/watch?v=n0NYBTkE1yQ


Bernanke says "I DON'T KNOW"HuhHuhHuhHuhHuhHuhHuhHuhHuhHuh?? ACK WRONG ANSWER BENNIE BOY! WHAT A FOOL!  Roll Eyes
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« Reply #555 on: July 25, 2009, 02:36:04 PM »

I liked Grayson point regarding the 1913 Federal Reserve Act and asking Bernanke if he really felt that if it was really in the spirit of that Act to give 1/2 trillion dollars of American Citizen's money to a foreign country.

Indeed.  Let's get real.  These elitists are completely out of their minds having been too far removed from reality for far too many generations.
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« Reply #556 on: July 25, 2009, 02:39:13 PM »

I liked Grayson point regarding the 1913 Federal Reserve Act and asking Bernanke if he really felt that if it was really in the spirit of that Act to give 1/2 trillion dollars of American Citizen's money to a foreign country.

Indeed.  Let's get real.  These elitists are completely out of their minds having been too far removed from reality for far too many generations.


They are childish lunatics!
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What can we do about it, really?


« Reply #557 on: July 25, 2009, 02:44:28 PM »

I'll bet they just loath the fact that they even have to appear in front of Congress. Obviously, the next step for them would be to remove this last semblance of accountability altogether.  
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« Reply #558 on: July 25, 2009, 02:51:01 PM »

Some people think eggs & milk come from the store.

These elitists don't even know where eggs & milk come from, at all.  They've never been in a grocery store!
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« Reply #559 on: July 25, 2009, 03:28:24 PM »

Our illustrious Pols who have not voted for HR 1207 are traitors to the citizens of this nation.

Layman
 terms, give us your money its the law-or we sick the IRS on you and your fined or jailed.

OK, heres you 30% of my hard earned pay and every other tax dollar we give you, where is it?
Responce:
Its gone shiiit heads, and we don't know where it is! We do know your screwed, in debt and in wars. Hows that grab ya , who are these worms to question us? Stay in your breeding grounds and shut the FK up, we are the law, pay your taxes send you kids to war or let them starve, Oh ya for God and country.

279, and we need 300, what the deal here, these holdouts, are they blackmailed,freezing  out to get payoff if given a no vote, this is black and white, either they are for the citizen or against.

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