Hmmm. Let’s see, a private group of bankers can print money out of thin air and charge us interest for borrowing some of the “nothing” that they print. This same organization wants to “police” financial transactions with the blessing of congress. What has Paulson been smoking?
Criminals do not regulate, they enable more criminal behavior. Just because congress has abrogated its responsibility “to coin money and regulate the value thereof” does not make fractional reserve banking moral, ethical or constitutional. Evidently, there is the law and then there is the Federal Reserve.
“Our nation has come to expect the Federal Reserve to step in to avert events that pose unacceptable systemic risk,” Paulson plans to say…
I wonder why anyone would expect a private banking cartel to be savior of U.S. and world financial markets? Perhaps because we have been programmed to believe in artificial reality over reality. The current economic crisis we all face is not due to “too much freedom” but due to government interference, over-regulation and the destruction of the dollar by removing it from finite, tangible value (i.e., gold and silver). So now what is Treasury Secretary Paulson’s great idea? More market interference and stifling pseudo-government regulation through the private Federal Reserve System. This despite the fact that
“…the central bank has neither the clear statutory authority nor the mandate to anticipate and deal with risks across our entire financial system.”
So why then do the preponderance of economic “experts” in government and media continually call for more of that which got us into this mess in the first place? Can you say “conflicts of interest?” It is not possible that 99%+ of all pundits out there do not know the REAL reason for inflation. How dumb of an expert do you need to be to not know that printing more fiat money results in the devaluation of every dollar you already have? Supply and demand my as-pirin. Oil is not $140 a barrel because demand is up. Global demand has actually been dropping due to increased prices. The reason that oil prices are not dropping along with it is because the oil producing nations realize that Bernanke has been printing Federal Reserve Notes like there is no tomorrow. At this rate, there will be no tomorrow for the fiat U.S. dollar.
“Bottom line it for me.” O.K. You cannot solve a problem from within the same consciousness that created it.
I will say it slower for Ben Bernanke and the rest of the Keynesians out there. You cannot print, borrow or spend your way out of inflation that is caused by excessive printing, borrowing and spending, particularly to prop up the welfare/warfare state. This is precisely why government grows whether it is under the control of Democrats or Republicans. It is irresponsible not to speak this truth when such an impending and entirely preventable disaster rears its ugly head. Funny how the one man with great responsibility that actually pointed out this truth through this past primary election season was ignored, marginalized and ridiculed precisely BECAUSE he spoke the TRUTH.
Now Ron Paul has inaugurated the Campaign for Liberty so that the inmates running the asylum could be woken by the force known as We the People. If voting could actually change anything, it would have been outlawed long ago. If we lived as a free and responsible people, we would not be entertaining the potential financial collapse of this nation, nor would voting be much of an issue. When we live according to two simple laws, then all politicians and bureaucrats would be bound down by the chains of the Constitution.
Do all you have agreed to do and; do not encroach on other persons or their property. Thank you Richard Maybury. What is true for individuals is doubly true for their governments. In other words, if it is a crime for an individual, it is most certainly a crime for government. No matter who or what breaks the law, when the karmic bill comes due, the price is much greater when we maintain ignorance or arrogance. If we had lived responsibly in the first place, there would be no Federal Reserve and our money would be backed by gold and silver. Do you want individual liberty based upon economic freedom or economic slavery to fiat money by “helicopter” Ben Bernanke? You have always had the choice. If not, then you behave as if you are already enslaved.
The Fed has too much power already. That’s why we are in this mess. Watch Congress give them more. Neither Obama nor McCain show any evidence of having the slightest clue as to the real reason for the financial trouble in which we drown. It’s much deeper than the floodwaters of the Mississippi. Much. The only thing that could make it any deeper is to grant the Fed even more powers than it already has. Unconstitutionally, of course. Since when did that ever stop congress or the president? It’s been a long time.