Ron Paul to Congress: End the Fed




Statement of Congressman Ron Paul
United States House of Representatives

Statement on Federal Reserve Board Abolition Act

February 3, 2009

Madame Speaker, I rise to introduce legislation to restore financial stability to America’s economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve’s inflationary policies. This represents a real, if hidden, tax imposed on the American people.

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.

With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.

Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of special interests and their own appetite for big government.

Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.

In fact, Congress’ constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation’s founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true freemarket economy.

In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans’ standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve.



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137 Comments:

  1. If the people demanded it, show me proof dating back in the times of woodrow Wilson, because thats when it all started. He was tricked by the people when congress was on vacation and caught him vunerable. ....Wilson later expressed his regrets saying he was a most unhappy man cause he UNWITTINGLY Ruined his country, you know the one where me and you and all of us live on? he continues to say, A Great Industrial country is CONTROLLED by a system of credit. The growth of our nation , and ALL our activities are in THE HANDS of a Few men (who tricked him into signing when the rest of the congress was on vacation)We are ( now a Government)ruled by opinions and duress of a small group of dominant men. And besides why doesn't the Federal Reserve/ central banks bail out the other banks n businesses, etc? Why does the government have to do it? Let me refresh your memory once again and read it with an open mind...So where does the Federal Reserve come in? This CENTERAL BANK has its hands on every aspect of the American economy. What most people do not know is that it is not a bank owned by the government. It is a private bank that controls the printing of American money and sets the interest rates. In fact the federal government gets its money from the Federal Reserve and then pays the reserve interest on its own money! This entire system was fought by presidents since Thomas Jefferson, but the central bank and the control of American’s money supply was signed in to existence by Woodrow Wilson when Congress was on vacation.

    Several months ago I heard the name of Representative Ron Paul. I actually saw him in a debate during the primaries and heard him mention something that I have heard no one else in Washington ever complain about, and that was the Federal Reserve Central Bank. Over the months I have carefully listened to his warnings and statements, and honestly, he is one of the few who is willing to actually speak out and tell the truth about what is happening with the bailout and the possible end result of such a “rescue.”

    The entire issue is perhaps the most complex, misunderstood or confusing issue in the modern history of America. Why does the government need to bail out mortgage banking institutions when the CEOs and boards saw what was coming and did nothing about it?

    Here is what I understand – simplified. During the Clinton administration the president wanted families in America, specifically lower income families, to be able to afford a home. By passing legislation they made it easier for a family to get a bank loan on a home at no money down and a low interest rate. This was a commendable idea but there was one catch. The loan was on what was called an ARM. As one man told me, “You got the loan for 2 ½ percent with all of the cost included in the loan itself. However, over a period of time, my own sons loan would go from 2 ½ percent to 8%. The idea that sold him by the lender was, that the value of his home would rise and if needed he could sell the home and make good money in the future. Suddenly, everyone was building new homes with plans to “flip” them or build for a price and make a profit on the sell. Then the unexpected happened. People could not make their house payments and the housing bubble burst.

    These loans and mortgages (ARMS) were sold to investment banks with the idea that as the interest rate rose they would make a good profit on the interest. What it seems few people were paying attention to was the fact that many of the people (into the millions) who took out a home loan did not have the money to repay the loan yet they were still provided a loan by the bank. For example, a person making $35,000 a year may have purchased a home worth $300,000 and as the interest began rising so did the monthly payment. In our community we know of about 5 couples who are in the process of losing their homes because they cannot pay the house payment. One man simply auctioned the goods in the home and told the bank, here is your $400,000 house and the debt that goes with it. As people began walking out of their homes the banks not only saw the home values drop between 3% and in some cities 20%, but they were left with a loan that was defaulted on.

    When the banks began looking at what they had in actual cash and assets verses the number of bad loans in which they were losing money, the bad loans won out. Thus, a “credit crisis” resulted. Recently, a close friend who is in real estate called me and said his banker (in Florida) contacted him with a “super investor offer.” For one million dollars to the bank he could own 400 homes at 10 cents on the dollar! When I was in Nevada on vacation we were staying in a desert hotel and a man recognized me from television. He was a real estate agent for six states. He told me of a 2 ½ million dollar home that the bank was offering at $950,000. Another home with four bedrooms, 2 car garage and a pool built for $850,000 was being offered at $240,000. In the Las Vegas area, over 20,000 homes are in foreclosure. They are being bought up by the Chinese, the Arab oil money and other foreign investors. In fact the banks are going outside of the U.S. to find foreigners to purchase the homes that Americans have built. Perhaps Americans should go back and read the Bible where it says, that if we reject the covenant and turn from God;

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  2. If the people demanded it, show me proof dating back in the times of woodrow Wilson, because thats when it all started. He was tricked by the people when congress was on vacation and caught him vunerable. ....Wilson later expressed his regret with these words:

    “I am a most unhappy man. I have unwittingly ruined my country. A great industrial country is controlled by a system of credit…The growth of the nation, therefore, and all our activities are in the hands of a few men…we are (now a government) ruled by the opinion and duress of a small group of dominant men.”

    And besides why doesn't the Federal Reserve/ central banks bail out the other banks n businesses, etc? Why does the government have to do it? Let me refresh your memory once again and read it with an open mind...So where does the Federal Reserve come in? This CENTERAL BANK has its hands on every aspect of the American economy. What most people do not know is that it is not a bank owned by the government. It is a private bank that controls the printing of American money and sets the interest rates. In fact the federal government gets its money from the Federal Reserve and then pays the reserve interest on its own money! This entire system was fought by presidents since Thomas Jefferson, but the central bank and the control of American’s money supply was signed in to existence by Woodrow Wilson when Congress was on vacation.

    Several months ago I heard the name of Representative Ron Paul. I actually saw him in a debate during the primaries and heard him mention something that I have heard no one else in Washington ever complain about, and that was the Federal Reserve Central Bank. Over the months I have carefully listened to his warnings and statements, and honestly, he is one of the few who is willing to actually speak out and tell the truth about what is happening with the bailout and the possible end result of such a “rescue.”

    The entire issue is perhaps the most complex, misunderstood or confusing issue in the modern history of America. Why does the government need to bail out mortgage banking institutions when the CEOs and boards saw what was coming and did nothing about it?

    Here is what I understand – simplified. During the Clinton administration the president wanted families in America, specifically lower income families, to be able to afford a home. By passing legislation they made it easier for a family to get a bank loan on a home at no money down and a low interest rate. This was a commendable idea but there was one catch. The loan was on what was called an ARM. As one man told me, “You got the loan for 2 ½ percent with all of the cost included in the loan itself. However, over a period of time, my own sons loan would go from 2 ½ percent to 8%. The idea that sold him by the lender was, that the value of his home would rise and if needed he could sell the home and make good money in the future. Suddenly, everyone was building new homes with plans to “flip” them or build for a price and make a profit on the sell. Then the unexpected happened. People could not make their house payments and the housing bubble burst.

    These loans and mortgages (ARMS) were sold to investment banks with the idea that as the interest rate rose they would make a good profit on the interest. What it seems few people were paying attention to was the fact that many of the people (into the millions) who took out a home loan did not have the money to repay the loan yet they were still provided a loan by the bank. For example, a person making $35,000 a year may have purchased a home worth $300,000 and as the interest began rising so did the monthly payment. In our community we know of about 5 couples who are in the process of losing their homes because they cannot pay the house payment. One man simply auctioned the goods in the home and told the bank, here is your $400,000 house and the debt that goes with it. As people began walking out of their homes the banks not only saw the home values drop between 3% and in some cities 20%, but they were left with a loan that was defaulted on.

    When the banks began looking at what they had in actual cash and assets verses the number of bad loans in which they were losing money, the bad loans won out. Thus, a “credit crisis” resulted. Recently, a close friend who is in real estate called me and said his banker (in Florida) contacted him with a “super investor offer.” For one million dollars to the bank he could own 400 homes at 10 cents on the dollar! When I was in Nevada on vacation we were staying in a desert hotel and a man recognized me from television. He was a real estate agent for six states. He told me of a 2 ½ million dollar home that the bank was offering at $950,000. Another home with four bedrooms, 2 car garage and a pool built for $850,000 was being offered at $240,000. In the Las Vegas area, over 20,000 homes are in foreclosure. They are being bought up by the Chinese, the Arab oil money and other foreign investors. In fact the banks are going outside of the U.S. to find foreigners to purchase the homes that Americans have built. Perhaps Americans should go back and read the Bible where it says, that if we reject the covenant and turn from God;

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  3. "The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.” Deuteronomy 28:43-44

    So where does the Federal Reserve come in? This central bank has its hands on every aspect of the American economy. What most people do not know is that it is not a bank owned by the government. It is a private bank that controls the printing of American money and sets the interest rates. In fact the federal government gets its money from the Federal Reserve and then pays the reserve interest on its own money! This entire system was fought by presidents since Thomas Jefferson, but the central bank and the control of American’s money supply was signed in to existence by Woodrow Wilson when Congress was on vacation. Wilson later expressed his regret with these words:

    “I am a most unhappy man. I have unwittingly ruined my country. A great industrial country is controlled by a system of credit…The growth of the nation, therefore, and all our activities are in the hands of a few men…we are (now a government) ruled by the opinion and duress of a small group of dominant men.”

    According to the Constitution the government is to print is own money as needed. Yet, a non-government controlled non-audited group of wealthy men control the money supply and the interest rates, in co-operation with other central banks in America and Europe. Seeing what is now happening, the words of Thomas Jefferson now seem more like a prophecy being fulfilled:

    “If the American people ever allow private banks to control the issue of currency first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all of their property, until their children will wake up homeless on the continent that their fathers founded.” - Thomas Jefferson

    “I sincerely believe that the banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.” -Thomas Jefferson

    I suggest if you really want to know the inside, listen a little more to Ron Paul. He may seem a little “out on a limb” to some, but when it comes to understand the “inside scoop” and the danger of the credit crisis, he seems to be right on target.

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    • Thank you for that Lynn.

      [sarcasm] Now what is Sean's high and mighty opinion on the subject and why you, Thomas Jefferson, and Wilson are wrong :D
      Come on dude you know you have something stupid to say about this.

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      • The federal reserve was created bc the people demanded it. There was no garuntee in money and everybodies stocks plumbited when Theodore Roosevelt signed the Hepburn Act. That is the main importance of the federal reserve. They collect holdings so people are garuntee money when banks fail. Thousands of banks failed in the eighties, if there wasn't a central bank, than millions of people would of lost their savings.

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        • This isn't the first time people have set up a central bank. How do you think the central bank was first created?? A bunch of banks worked together to design a system to create a thing we call credit.. When depositers put money on a down payment for credit, a portion of that money is sent to the central bank, so if there is a run on the bank, there will be enough banks with enough holdings from depositers money to ensure the money... Everybody feels safe when their money is insured. Lets say we get rid of the federal reserve and you save up 20 thousand dollars to buy a house and that 20 thousand dollars all of a sudden disapears. I bet you would be wishing that you had the federal resrver to reimburse you.. Maybe you are happy with taking that risk, but 90% of AMERICANS feel comfort and security when their banks are FDIC approved.

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  4. Someone please ban this rat "Sean"...

    He is here to distract and confuse people with loads of meaningless crap.

    Thank you.

    D. Dixon.

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  5. Ok, this seems needed. (Read the words of Ron Paul Waaaaay Above this)
    1--"The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency."
    2--"The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank."

    Number 2 here from Dr. Paul is the sticker for me. The FED is constitutionally ILLEGAL.So lets fix that problem people.
    As to the "wizardry" the FED does now, the Congress is supposed to be doing it themselves. This way if you don't like how some genius rep. is voting on monetary policy you can get together with other citizens and fire them. That would be the transparency that we need so very badly in monetary policy.

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  6. It's sad that instead of talking about the value of this proposal and what it would take to actually give it some legs, Sean turns the conversation into one about oil, and not being able to resist the easy target, others spend their posts responding to his off-subject argument.

    To that point though (I too become guilty of the above), Sean, I don't want my tax dollars spent on "cheap renewable energy". The government has very clear functions (pass laws, enforce them, protect homeland security), of which energy production is not one(or health care, schooling, highways,automobile, etc.). That being said the government should enforce my right to clean air above my property ( if I choose to sue). The market handles all of the above much more efficiently. And besides "Capitalism is the only system that protects human-rights"(Ayn Rand)

    We have to call our congressmen and women and demand they consider this proposal. Does anyone know when it will come to the floor for a vote?

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  7. Amen! Should have been done a long time ago!

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  8. For ten years I have been saying this right along with Ron

    and everyone said OH your crazy

    the federal reserve made the depression not so bad

    and and and

    what a crock and people are stupid

    the income tax is illegal

    you say you made ten grand and they take two

    YOU DIDNT make ten you made eight

    so get rid of income tax and you make ten

    pretty simple isnt it

    screw the irs

    the irs is illegal and they KNOW IT

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  9. I had no idea who you (Ron Paul) were except in photos until just 2 days ago. Ron Paul did not create libertarian/true capitalist policy. Lao Tzu did that a few millenia back. Ron Paul should be credited for being one of the few who actually speak it & for the guts to do it. I am sorry that I did not vote for you last year (I did not vote for anyone). If there is a presidency for 2012, you will have my support.

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  10. Talk about evolution.. We are just in a time frame, there are different ages in history for all advancements in life. Thats all life is, is an advancement. Its getting from one day to the the next with the best security and technology available. Throughout history, population seems to grow and has evened out in most modern civializations. There have been uprisings in all countries all over the world.. We catagorize the ages of time and the prosperity of life at which occured. Such as the bronze age, the heroic age, the dark ages, the renaissance etc.. Evolution occurs, population grows vastly as people become more adapted to their surroundings. Information piles on top of information causing evolution to occur faster and faster from each advancement to the next.. I guess you can see where i'm going with this. Although many would claim that we are in an age of computers and great technology, I beg to differ. We are still in the industrial revoultion and we havn't begun to understand the technology that is to come.. We are facing neo evolution. Oil is running out, there is only so much oil to energy percentage available. America started running out of oil in the sixties as have 30 other countries.. The age of oil is comming to an end. This period of evolution could only last so long as we see the time of ages decrease as evolution occurs faster and faster. There will be covered up wars, there will be famine and disease. But despite all the killing and deaths, there will be good comming from this evolution transition phase. From one age to the another people have suffered to get to that revolution. There have been wars, but the wars never really seem to solve anything. It is always the ones who emerge from the passion from wars and struggle to alarm the public of whats really going on in their lives and what needs to be done. This isn't just a banking problem. That is just the outer layor to this mass economic system we call capitalism. We can call the banking system the body. Well resources and goods would be the heart to the system. We need healthy vital signs in order to maintain a healthy body. It doesn't matter what color we are, it doesn't matter what banking system we have. As long as we have to rely on other countries for resources and cannot provide any of our own. We will not have healthy capitalism. We need to stand up, alert the public so this transition phase from one age to the next wont drag out and cause so many problems.

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    • We don't want to force transition into anyones lives, but we do want to make it available. Everyone should want our hard earned tax dollars going towards something productive. That should be a no brainer. We don't want our tax dollars prolonging this transition with wars and economic troubles. We want cheap renewable resources. This wont occur until one of two things happen. 1. We inform the public of the harms of our oil consumption so we can have a massive demand for alternative fuels too create the market. 2. We use our tax dollars to build alternative fuels and so we can do this transition together and participate in revolution as a country, as america...

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      • We should not want to do this for the republicans, we should not want to do this for the democrats, or for the central banks.. We should do this for us. We should do this for American's. We the people should have the ability to be informed about our problems so we the people can stand up and fight instead of spliting up the country with different ideologies to mask the problem.

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  11. I know what i'm talking about. You all seem to not understand a thing about money.. its sooooooooooo simple to understand and its soo difficult for you all..

    http://www.youtube.com/watch?v=M-vMxKvYfVs

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  12. Pingback: Ron Paul to Congress: End the Fed « The Place I’ll Return To, Someday

  13. Browse through any topic on this website, and you will see the pattern this rats leave...

    Every topic ends in confusion by most people, since a lot of people are still not educated about the truth, since TV lies 24/7 and forces the wrong views upon the population...

    These rats are definitely getting paid, this is a full time job to distract people from the truth... by spamming sites like this with useless and meaningless garbage...

    Usually when you see a very long and leghty comment with bunch of numbers, percents, statistics, etc... skip it, it's garbage posted by the rat team.

    Do not even read it or reply, ignore it altogether.

    D. Dixon.

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    • People!
      None of us know it all. Debate properly, however.
      1. Leave out insults, they reflect frustration on your part, and you always have the option of not responding to a failed, repetitive argument.
      2. Encourage reading material that you feel may benefit the opposing party.
      3. Reinforce the points we all agree on, from time to time. This will make it possible to come to a consensus on points not in contention. This is progress.
      For my part, I will offer this:
      1. "Secrets of the Temple" by William Greider is a very good book on the history of the Fed. It is not an attack on the Fed., but after reading, you will probably conclude, we do NOT need the Fed. It IS a part of government, and we CAN abolish it.
      2. "The Secret History of the American Empire" by John Perkins gives a little insight on why the world doesn't like us very much, but fears us nonetheless.
      3. "The Elite Serial Killers of Lincoln, JFK, RFK, and MLK." by Robert Gaylon Ross, Sr. for an interesting read on how far the enemy will go to keep control of our money supply. Conspiratorial, big picture kind of stuff.
      What are you reading?

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  14. Someone please ban this rat "Sean" and his rat teammates...

    If you start arguing with them, you will waste your time...

    They are here only with one purpose, to throw people off the subject matter and to taint the name of Ron Paul with meaningless crap... loads of it.

    Please ban this rat and his teammates.

    Thank you.

    D. Dixon.

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  15. Its whatever, you can continue to think that we dont need to keep printing money to pay for our 38 billion a month gas fee. Thats just your judgment.. You can even think that we can aford to give away 38 billion dollars worth of our gold every month. Thats ok; If you think so. We'll also give 40 billion a month worth of our gold to asia for foreign goods as a bonus. I'm sure we could just replace that gold with what scarce gold we can find.

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    • we can just be their slaves and keep mining gold and silver and then handing it to asia and saudi arabia. That makes perfect sense. Lets enslave our whole country.

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      • Arguing with you is pointless. The community was right about you. You are just a rat here to flood these threads with nonsense. Check your facts dude, you and all you buddies rats! Go get a life.

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        • i have a nice life. :) i was a local dj for 5 years. i've traveled to music festivals all over the country. I went to California 3 times, Miami twice, New Mexico, Las Vegas, and new orleans 4 times for music festivals all before i turned 20.. Now I play the guitar and i am a mechanical engineer. i'm finishing my bachoelrs of science in construction business.. I used to take classes that didn't count for my major like philosophy and english history bc i'm facinated with the evolution of culture.. I can find time inbetween here and there for a nice chat.

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        • check your facts...

          http://www.youtube.com/watch?v=M-vMxKvYfVs

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          • Which is why money is so useless? It is a terrible system and we have to abolish the fed. Anyone who disagrees is entitled to their opinion.

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          • this illustration supports all monetary theory.. its the way of living that is the problem. Not the fed.. We should get rid of the fed, but thats not going to be near enough. That wont fix anything.

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          • ending the fed isn't going to fix our trade deficit. We are still going to have to borrow money to run our american empire..

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  16. I hope our economy crashes and crashes hard, cause that is the only way people like you will wake up.

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  17. to be upset over what you don't have is a waste of what you do have.

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  18. I support this legislation. From what ive read, it is the Federal Reserves ability to loan money to our government and then charge exorbant interest rates that is the main issue. This is how the Fed cartel, central bank, international bankers, make their money, off the interest from the loans to the government. Every man, woman, and child owes like 30 thousand dollars to the government to repay the trillions of dollars that the Fed has loaned the government. Furthermore, there is no transparency, I like transparency, and defending our own nation, not pre-emptive wars using deception that turn out to be lies to take a nation to war. Anyways, ive also read that Neo-cons hire agents to deflect conversations away from the main issue, abolishing the Federal Reserve, an act for which, Abe Lincoln, JFK, Ronald Reagan and many others have had violence used against them for attempting to reveal. This is not about energy, or imports/exports, this is about loaning 9 trillion dollars arbitrarily to a government and then forcing the people of that government to repay the loan at 30% interest. It is a corrupt and dishonest practice. An honest money system, which is backed by the peoples ability to repay loans, for reasonable amounts, determined by the majority, at reasonable interest rates is a more modest and decent approach than this illegal and deceptive money cartel.

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    • The federal reserve is a non-profit organization...

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      • LOL, Hahahahahahahahaha. Did you find that on their website? WOW! Way to debunk everything he said. Prop to Light for shutting him up

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        • This isn't about the trade deficit??? You should read one of MANY articles the Federal reserve has written warning us abouut our trade deficit. You should learn about the effects of outragous trade deficits.. THe federal reserve raised interest rates to 7% not 30% to slow down the devaluation of the dollar. If it wasn't for the fed, our monetary system would have collapsed a long time ago. If we stuck with the gold standard, saudi arabia would own the majority of our gold.

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          • and the federal reserve is a non profit organization. they give all the extra money after expenses to help fund the treasury department. I got that from an encyclopedia.. The money the fed collects is to try and slow down the growth and demand for oil because rising prices would cause hyperinflation destroying investments, and eventually lead us to outstanding trade deficits which it did acomplish

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      • This is maybe the finest example of absurdity I've ever read.

        You got it backwards again...hyperinflation causes out of control prices. Not the other way around.

        The Fed in a non-profit organization!? ahahahaha

        In related news, AIDS is a cure, compassion is a vice, alcohol is a sobering agent, marijuana is a deadly drug, and stealing is a virtue.

        Well I'm gonna go ride my dragon. See you all in Narnia!

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        • Here is another good quote from the smart old Sean. "the federal reserve... give all the extra money after expenses to help fund the treasury department".
          Maybe you should look at these two organizations and see how they do business with each other. They real buddy buddy.

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          • ya they are, thats why we will never get rid of the fed. bc the government benfifits off of them. and they are smarter about money than our government. so we tend to leave the money part up to our smart bankers, not our stupid politicians.

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        • well, if gas prices got too expensive, than they would have to print excess money. And thats what causes hyperinflation, or out of control prices.. You didn't think that thru.
          I don't know how many federal reserve members you actually know or have studied, but they are all very good nice people. They benifit with good salary, they don't just capture all the money and are money gods.. muahahaha. You watch too much tv. Come on now, they are regular people who were ELECTED to be bankers. Every action they make is voted on. Its more organized than you think. I imagine everyone here watches conspiracy films.. I have like 20 of them in my closet. I have both zeitgesit movies.. I have documentaries on the bilderburg group, on foreign relations, i even have documentaries on our founding fathers, what a republic is supposed to be.. I've seen all sides to the story. I know the evils that were around a hundred years ago, but wake up seriously. THis CARTEL that everyone imagines when they watch those video's is generations old.. Fiat currency and central bank practicies are scientificly proven to work. ALL COLLEGE professors STUDY and teach these methods. The same professors will tell you that the problem is our trade deficit, but i guess you never went to college or studied business.

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          • You went too far with this one. It's now obvious you're nothing more than a troll. I'm quite happy it'll now be so easy to ignore your nonsensical posts.

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          • dont be upset because your being educated.

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    • actually, every man woman and child only has to pay 2% out of our taxes for the deficit. Your taxes will not increase bc the country grows and collects more money from taxes year after year... You talk about wars.. what do you think the war in iraq was for?? In 1999 saudi arabia thought they were going to run out of oil soon, so we attacked iraq for reserves.. In late august the prices of gas went down right after 30 countries tapped into iraqs oil supply.. Dafur removed the people from the south and commited genocide for their oil.. One of hitlers first places to take over was the largest oil producing land at the time.. And you need to learn what the deficit really is. Read any of my earlier posts on investments and bonds to find out the benifits that people recieve.. 64% of our National deficit are investments called savings bonds that people invest into instead of their 401k. 64% of this debt you think the government owes the fed is actually investments that everyday people with jobs have made with great rewards. Since people save money, the deficit naturally grows larger. Savings bond investments have doubled in the past 10 years.

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      • well interest fee's make up 20% of our taxes, but that number will not raise, its actually lowered and gotten better with the growth of the population and gdp. Its actually alot less than that now and our deficit is going to slow down some bc they lowered the interest rates for return on treasury bonds.

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  19. So what is your solution genius? Because we all have no clue what to do. At least we have solutions, all you keep saying is that we spend to much on oil. Okay we get it already, but I already gave you a solution to that. Plus I don't think anyone cares what you have to say, I just like to help those who don't like to think outside of the box :)

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    • changing the monetary system isn't going to fix our trade balance. those solutions wont work. I actually would invest a great deal of this stimulus package on natural gas pumps. I would invest the rest in wind power, geothermal, and perpetual energy so we can reinvent our energy methods. Thats actually thinking outside the box.

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      • See these are the most dangerous arguments. The ones that sound good but take too much time to unpack and destroy.

        Best thing to do is let the unhampered free market decide what is our best source of energy. I think it likely it wouldn't be oil for very long if the free market was allowed to function.

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        • the free market wont do it fast enough. the free market usually invests in cheaper energy.. every day is like the day before. Same day at the office. Dependable old fasion work. we have trade deficits bankrupting america.. ok lets blow this off. It is the cause for the problem but its not important..

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          • we tend to go by the books instead of writting the books..

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          • Exactly wrong about the free market stifling innovation. That is governments job. Correct that trade deficits are problematic. Yet you fail to see that central banking and fiat money allow sustained and enormous trade deficits to occur.

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          • so your saying we will stop purchasing gas if we went back to a hard currency?

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      • LOL, sorry, but these types of energies have been around for decades, in fact I think I told you about them earlier today. Sorry dude, but people like you are the reason we are in the situation we are in today. You really have no clue what you are arguing now. You keep going in circles. I wish we could help you but you are already brainwashed into thinking this way.

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        • theyve been around but most of our energy is ran from coal. What about natural gas pumps? that was my major investmnet. Obama is going to invest in these energy resources like i mentioned, these and clean coal which is okay also. Whatever, the point is, ending the fed wont help the crisis we're in. So i promise the bill wont pass.

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          • Ending the fed won't help... based on what? your opinion, an article you found, what? You say this with such confidence. Who cares about natural gas, we need innovation, not another depletable source. Have you herd of fuel cells? How about HHO gas? There are hundreds of alternative fuels. Go to sciencedaily.com and learn a few things.

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          • ok hho gas, whatever.. I know our problem is the trade deficit. Thats the major problem nobody can address.

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          • I was using the two examples to show the complex and simple. Why not HHO gas? It is hydrogen and oxygen which are both very flammable, people are already use these to reduce their gas consumption by 15% or more. What are you contributing? You say oil is the main reason for the deficit, or did you forget that was your first argument. I think you need take a much closer look at the money system.

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          • what? i never said oil wasn't the main problem for the trade deficit. I know what HHO gas is. You can buy home kits and put them in yourself. I was wanting to do it for fun when gas got so expensive.. You didn't think this thru though... Alot of the western states are in fear of running out of water. Your just going to speed up that process.

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          • and i have no idea what your talking about 15% less gas consumption.. is that by country, or city? I know we have already moved onto natural gas pumps. They have thousands of pumps all over the country. Most city offical's cars run off natural gas. Natural gas is the only means of combustion that would move an 18 wheeler.. Really we just need electric cars. Thats also old technology. Its been around over 10 years

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  20. The treasury usually promises 50% of face value on bonds after 15 years or so from collecting interest.. That interest collected comes from around 2-5% of our income tax dollars... Thats a good investment for little the cost. Its what keeps our monetary system going.

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