Event: Congress’ Joint Economic Committee
Date: 5/5/2009
Transcript:
Ron Paul: Welcome, Chairman Bernanke. I have a couple of questions, but first I want to mention that I find it awfully frustrating at times when we always talk about inflation and we only talk about the prices and say, “We have prices under control, there is no inflation”. We have to realize that the monetary base, the liquidity was doubled in a few short months. To me there is a lot of inflation out there. It’s already inflated, we’re in the midst of inflation. Because the prices haven’t gone up doesn’t mean we don’t have the distortion. And it was that system that gave us the financial bubble. Artificially low interest rates, the mal-investment, all the mistakes made. And now we’re trying to correct all that by doing the very, very same thing.
So, I think someday we’re going to have to address this somewhat differently because I’m not very optimistic that we can solve our problems with more spending and more borrowing and more inflation in order to solve those problems. But you’ve answered this question several times, I want to bring it up again and this question has to do with when will some of this liquidity be drained? And I don’t think the answer you’ve given is very specific and I don’t expect to get a more specific answer, but I’m going to try.
What if we have a situation where prices, which is not the best measure of inflation, but let’s say the consumer price index (CPI) is going up 8% to 10% and there is no economic growth. Where are you then, because that’s not impossible, it’s happened. It’s happened in our history, it happens throughout the world, it’s a common thing, it puts you between a rock and a hard place. If you drain, interest rates go up and the economy further crashes. If you don’t, you have the explosion.
Can you give me an idea what you precisely would do if you face the situation where prices were going up 10% with no economic growth?
Ben Bernanke: Well, I think that’s an unlikely scenario but we certainly would have to take steps to ensure price stability, because if inflation gets out of control we know it has very adverse effects on the economy, both in the medium and long term and so we would obviously have to address that.
Ron Paul: Which means you would have to raise interest rates?
Ben Bernanke: This is exactly the same problem which is always faced by monetary policy, which is in a recovery when the economy is starting to grow but has not yet gotten very far, perhaps, and unemployment is still above where we would like it to be. You know, you have to take away the punch bowl, as someone once said, in order avoid the inflation risk.
Ron Paul: I see this as the real problem because we practice economic planning through manipulation of money and credit. Socialism always fails because they don’t have a pricing structure. Interventionism and inflationism fail because we don’t have a free market pricing system of money; the interest rates. Therefore it fails, it comes to conclusion and inevitably it leads to a more socialized economy. Just witness what we’re talking about. Taking over companies, taking over insurance companies, taking over banks. This has been the prediction of the free market economists and yet we continue down this path of socializing our entire economy.
I do want to address one other subject and it has to do with transparency. You said you have made a commitment to transparency and openness, which is very good and there is a lot of us that want that. And I have dealt with that and have a legislation, HR 1207, dealing with that. But in a real sense, I know what you’re doing here, but the code really protects you from telling us some of the things we’d like to know. For instance, in 1978 when the GAO was given the authority to audit the Fed, it put the exclusion in there that you can’t ask these questions. Precisely, if I wanted to know about all your agreements and discussions with foreign central banks, with foreign governments, with international financial organizations, you have no obligation and you haven’t volunteered to do this. So is there a way that you would, since you’re moving in this direction, move and consider supporting a position where Congress has a right to know these very, very crucial, vital issues dealing with their money?
I mean, everything you do deals with their money. Would you ever be open to repeal some of these provisions?
Ben Bernanke: Yes I would. Now, if you let me be specific. We have many programs where we lend money, we take collateral, and obviously we are repaid. I want to assure you, first of all, that we have very substantial oversight and controls, we have precise internal divisions which monitor these things, we have an independent IG and we have an external auditing company, a private company which provides audits every year and has given us a clean bill of health on all our financial controls, all levels of Sarbanes-Oxley requirements. That being said, if Congress needs more information about the operations that we’re doing, exactly how we manage our collateral and how we manage our lending and those sorts of things, I think we can talk to you about providing more information about that and if necessary working with the GAO.
Where I’ll be very careful, where I’d like to be just very clear, there’s been some discussion of the GAO “auditing monetary policy”. I don’t know what that means, but I certainly would resist any attempt to dictate the Federal Reserve how to make monetary policy. It’s the independence of monetary policy which is crucial to the maintenance of price stability and economic growth in this country. And that would not be acceptable but if it’s an issue of making sure that we’re appropriately managing our systems and doing what we’re saying we’re doing in terms of our lending, we want to be open, we want you to understand that we’re taking every precaution to protect the taxpayer.
Ron Paul: Of course, the policy is the only thing that really counts.
Processing your request, Please wait....
Hola Phill Claus,
-The war criminal, Henry Kissinger , ones said, -“Military men are just dumb, stupid animals to be used as pawns in foreign policy.” How is that for a rather candid, but alas realistic view on your; “…how about those who sacrificed their lives in WW1, WW2, and Vietnam.“?
-Well, the infamous Zionist is of course right. Soldiers are nothing but useful idiots. Wars can simply not be fought without them, and up thru history, wars have been the bankers’ favorite number one financial accelerator. But, wars cannot be fought without another few additional useful idiots; the Bush- Hitler- Napoleon type of guys on both side of the “fence”. However, with enough money on hand, such lunatics are not hard to find, as recent history provides ample proof of.
-The only element missing then is a “9/11-Tonkin-Pearl Harbor” kind of operation, and… pooof… the big profit machine starts rolling.
-War is about money, and the only three elements required to start and to run a war, is money, money and money. It is, “money-makes-war-makes-money”… in that order.
-Just a brief look at the price tag for recent and ongoing wars, shows the value wars have had and have for the Fed; WW2- $4,1 trillion, Korean war-$500 billion, Vietnam war-$700 billion, and Iraq war at present, some $700 billion… and then, after the “Cold War” ; “War on terror”, “War on drugs”, “War on AIDS”, War on Illegal Immigrants”, “War on Palestine” (via Israel)… Somalia… Pakistan… and all the wars which the media “forget” to tell the American people about, but which are also fully or partly financed with USD, and! dollars are produced and delivered by the Fed… out of thin air… and by nobody else.
-Traditionally however, the Rothschild clan always involved themselves financially with both parties in conflicts, and there is no reason to believe that this stopped with their creation of the Fed in 1913. Of course not.
-Back in time when they financed rebels, kings and would be emperors with their own gold and promissory notes, such financing of the enemy was rather a question of ethics, but carrying out such finance with the US Dollar is of course another matter all together, and the very matter which Doc Ron Paul wants to have a closer look at. And, what will be found, is not a few rotten apples, but the whole bloody Fed is definitely nothing but a house full of foul pickings.
- However, worse than the war racket dealings, is more than likely the Petrodollar nightmare, AND! the fact that the owners of the Fed did create and launch their new fiat money already in 2002, the Euro currency.
-Hence, sit down and ponder a while over this scenario. The oil, the Petrodollar and the Euro, and try to contemplate the impact these three elements will have on the American economy in particular. I can hardly see any other solution than a major war, but I do hope you might see some other way out of the situation.
-Finally, let me end this too-long-too-late-in-the-night-post (it is passed midnight here), by say that you all should be extremely proud to have a politician with the integrity, stamina and mental capacity like what Doc Paul is demonstrating. In my long life, I have never observed any politician anywhere, anyway close to this great and courageous man. Truly remarkable.
Like or Dislike:
2 
0
Finally, let me end this too-long-too-late-in-the-night-post (it is passed midnight here), by say that you all should be extremely proud to have a politician with the integrity, stamina and mental capacity like what Doc Paul is demonstrating. In my long life, I have never observed any politician anywhere, anyway close to this great and courageous man. Truly remarkable
…RON PAUL IS ONE OF THE FEW PEOPLE IN THIS COUNTRY WITH ENOUGH GUTS TO STAND UP FOR AMERICANS AND ITS BASIC PRINCIPLES AND NOT CAVE IN TO GREED AND MISGUIDED POWER!
Like or Dislike:
1 
0
Make that 144 and counting.
Can’t Stop A Train
Like or Dislike:
1 
0
“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States” — Sen. Barry Goldwater (Rep. AR)
Like or Dislike:
1 
0
Most Americans have no real understanding of how a computer chip works either, ABOLISH COMPUTER CHIPS!
Like or Dislike:
0 
1
Another red herring so early in the day?
Stick to drinking.
Like or Dislike:
1 
0
This is a complete misreading of the Goldwater quote. First of all, Goldwater doesn’t even mention abolishing the Fed (as you imply with your response. Secondly, I very much doubt PHILL CLAUSS (or pretty much anyone) believes the Fed should be abolished SIMPLY BECAUSE “Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited…”
Like or Dislike:
0 
1
This is a complete misreading of the Goldwater quote. First of all, Goldwater doesn’t even mention abolishing the Fed (as you imply with your response. Secondly, I very much doubt PHILL CLAUSS (or pretty much anyone) believes the Fed should be abolished SIMPLY BECAUSE “Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited
WHAT MISREADING?..IT WAS A CUT AND PASTE OF THE MANS OPINION ABOUT WHAT THE AVERAGE AMERICAN KNOWS ABOUT THE FED!…AFTER THAT…ITS ALL YOU PUTTING WORDS INTO OUR MOUTHS!…
Like or Dislike:
0 
1
I was replying to Matt and his misreading of the quote you posted. I was not replying to you or saying you misread the quote. Why would I do that? As you point out, you merely copied and pasted the quote with no commentary.
Best if you calm down a bit.
Like or Dislike:
1 
0
“Secondly, I very much doubt PHILL CLAUSS (or pretty much anyone) believes the Fed should be abolished”
MAYBE YOU SHOULD READ ALL THE POSTS ON THIS WEBSITE…IT WOULD BE THE END OF YOUR “ASS-UMPTION…YOU ENJOY PUTTING WORDS INTO PEOPLES MOUTHS…DRAWING CONCLUSIONS THAT ARE BASED ON A ARROGANT GUESSES……AND THEN MOCK THOSE WHO WANT TO RETURN OUR FINANCIAL SYSTEM TO PRE-1913 DAYS AND GIVING BACK TO AMERICA WITH OUR COUNTRY CAPTAINING ITS OWN SHIP!!…
Like or Dislike:
1 
0
Perhaps you should read my posts on this website and this thread in particular. I am no fan of central banking, fractional reserve banking, fiat money, etc.
Also, you cut off what I said. What about the “SIMPLY BECAUSE…” that comes after? I still very much doubt you want the fed abolished because people don’t understand the banking system. I’m confident you have much better reasons than that.
Like or Dislike:
1 
0
“A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world–no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” — President Woodrow Wilson
MATT THE 3RD GRADER….HOWS THIS ???
FIND SOMEONE TO READ THEN EXPLAIN THIS TO YOU…FROM ALL THE ABOVE POSTS…LOOKS LIKE YOUR THE VILLAGE IDIOT….
Like or Dislike:
0 
0
How many grades did you get through? Not enough to learn where the CAP-LOCK is, how to punctuate a sentence written in English, how to spell, or how to use an apostrophe.
A this “village idiot” is trying harder than you are.
Like or Dislike:
0 
1
I CANT TYPE FOR CRAPPOLA…BEING 58 LEAVES ME WITH VERY BAD EYESIGHT..HENCE THE CAPS AND A FEW EXTRA LETTERS HERE AND THERE…SORRY THAT BOTHERS YOU…WHAT BOTHERS ME IS MY TAX DOLLARS AND OUR COUNTRY BEING TAKEN AWAY FROM US!..WHILE YOU DOTE ON SPELLING ERRORS AND PUNCTUATION….NOTHING COME FROM YOUR BRAIN THAT DEMANDS YOUR RIGHT TO YOUR OWN FREEDOM AND RIGHTS AS AN AMERICAN!…LET ME GUESS..YOU LIKE THE FEDERAL RESEREVE RUNNING YOUR COUNTRY AND YOU LIFE…!!THE BUILDING IS BURNING OUT OF CONTROL..AND YOUR WORRIED ABOUT THE TEMPERATURE OF THE WATER TO FIGHT THE FIRE…YOUR AN EXAMPLE OF WHY AMERICA IS IN THE PITS!
Like or Dislike:
1 
0
Yes, I agree with your self assessment. At least those of your typing and communication skills.
No, I don’t think age is an excuse for arrogance (except in my case
).
No, I didn’t “YOU DOTE ON SPELLING ERRORS AND PUNCTUATION”. I mentioned your communications skills which are on par with a 6th grader who wants to hide from us old folks.
Yes, I am concerned that taxes are being “stolen”. I would put the blame on progressive taxes, spending according to statist values, simple hedonism. I tell my left-wing friends that I would accept statism/socialism/communism/liberalism if I could trust everyone to never be hedonistic or egotistic. My cynicism of old age doesn’t allow
I can only guess what you mean by: “NOTHING COME FROM YOUR BRAIN THAT DEMANDS YOUR RIGHT TO YOUR OWN FREEDOM AND RIGHTS AS AN AMERICAN”. Let me give it a shot anyway.
No, I do not “DEMAND [my] RIGHT TO … FREEDOM” because that would be useless where I don’t think they are being interfered with.
If you mean that “NOTHING COME FROM YOUR BRAIN THAT DEMAND FREEDOM” because it comes from God. I hope you are not referring to the God as defined by man. I believe in being humane which every organized religion has failed at.
No, I don’t “LIKE THE FEDERAL RESERVE RUNNING [my] COUNTRY AND YOU [sic] LIFE”. But I don’t know that there are any better options. I don’t think I am alone when I say that without some for of indirect barter, I could not make a living. But the federal reserve as we know it is not the answer either.
Yes, the building has been “BURNING OUT OF CONTROL” and has been “IN THE PITS” ever since I was an adult and probably ever since a human was in charge of human society. It actually is a much better proposal than the alternative.
No, I’m not “WORRIED ABOUT THE TEMPERATURE OF THE WATER” but fact that some want to indiscriminately splash that water everywhere and ruin all surfaces. Just like the mania that came before you (global warming, global cooling, population bomb, UFO’s, elvis impersonators, etc), I’ve learned to ignore the hysteria.
Like or Dislike:
0 
1
“I’ve learned to ignore the hysteria.”
THEN WHY DO YOU POST HERE??…JUST THINK IF THE FOUNDING FATHERS..HAD YOUR ATTITUDE!…GOD SAVE THE QUEEN!
Like or Dislike:
1 
0
” I mentioned your communications skills which are on par with a 6th grader ”
.IMAGINE..A MAN WITH A 6TH GRADE EDUCATION….WHO CARES MORE ABOUT THIS COUNTRY AND ITS DIRECTION THAN AN ARROGANT SNOB!…IT MUST SUCK BEING YOU!…
JUST CURIOUS…WHAT WAS THE EDUCATIONAL LEVEL OF THE PATRIOTS WHO FOUNDED THIS COUNTRY??…WERE ALL SCHOLARS LIKE YOURSELF????
HOW ABOUT THOSE WHO SACRIFICED THEIR LIVES IN WW1,WW2,VIET NAM??…
Like or Dislike:
1 
0
I post here for three reasons. I agree with 80-90% of RP, I want to do something to help the cause (the evolution), and I enjoy working out the wrinkles from our side of the argument. We must be prepared to face our opponents in debates. Sitting around agreeing with each other isn’t going to cut it.
Thank you for calling me a scholar. Others claim otherwise. I’m too educated for some and not educated enough for others … sounds like I’m pretty well rounded! (My clothing size tells me the same darn thing!)
I referred to your education level in response to your questioning the education level of others. I don’t think I was snotty, but I know you were.
Yes, I am impressed by soldiers of the past and present. No, I am not impressed by your standing around shouting down all those that disagree with you. Sometimes it I admire people who are well schooled and sometimes it is someone who’s schooling was on the streets.
BTW: John Adams graduated from Harvard, Madison was educated at Princeton (known as New Jersey at the time I think), TJ founded the University of Virginia but self educated himself. I think George Washington only made it through 3rd grade and I can’t remember the others.
I’ve found as much (if not more) arrogance comes from the streets as from a university hall. In fact, the slime in a university pulpit can be compared to a street gutter which is just as filthy as a church pew.
I’m sorry if I made you feel inadequate while exposing the fact that it is not just the emperor that is naked. But this is too important for me to be delicately p*ssy footing around your fragile feelings. Please do not kill RP’s chances by being a … yourself.
The narrow minded fanaticism at this blog is the greatest enemy to the ideas of limited government and fiscal responsibility.
Like or Dislike:
1 
0
Heh. It’s always funny when people call others on their poor punctuation/spelling/grammar and then make a punctuation/spelling/grammar mistake. I remember when I used to do it. Now I think it best to just avoid that game altogether.
Like or Dislike:
1 
0
Oops. I should have known better.
Like or Dislike:
0 
1
THIS “HEAD CITIZEN OF THE WORLDS RICHEST/GREEDIEST” SHOULD BE THE ONE WATERBOARDED!HE {AND HIS SECRET POTATO-HEADS}ARE NOTHING MORE THAN A NETWORK OF FINANCIAL TERRORISTS!!… THEY HAVE FAR MORE POWER,CONTROL,AND ARE MORE GUILTY THAN SOME PUNK WHO IS JAILED IN GITMO…FOR “CRIMES AGAINST SOCIETY”…
IT TIME FOR ALL COUNTRIES..TO GET RID OF THESE “GREEDY MONEYCHANGERS”..AND GET ONTO THE BUSINESS OF FREEDOM,HONESTY,AND LIFE!
Like or Dislike:
1 
0
Yes, that is how you get people to listen, assume you hold the grail of worldy knowledge… and write in caps…
Like or Dislike:
1 
0
Continue to scrape the bottom of the barrel, of its rotten fruit.
lmao
Like or Dislike:
0 
1
MATT.AFTER READING YOUR {MULTIPLAE} MUNDANE RESPONSES TO ALL THE POSTS HERE….ITS OBVIOUS YOUR STILL ATTENDING A 3RD GRADE WORLD HISTORY CLASS….AND NOT DOING WELL I MAY ADD….WAKE UP ..THIS IS YOUR COUNTRY..!!..READ ABOUT WILSON SIGNING THE FED RESV ACT OF 1913…THEN…DUH….READ WILSONS COMMENTS ABOUT “WHAT HE DID TO THE COUNTRY HE LOVES”…YOU SHOULD TRY HARDER TO LEARN AS OPPOSED TO WORRYING ABOUT SOMEONE WHO DOESNT SEE WELL.TYPING IN CAPS!…ITS FOOLS LIKE YOU WHO HAVE DUG US REAL AMERICANS INTO THIS GIANT HOLE OF GREED AND DECEPTION!…NOW,GO GET YOUR SIDEWALK CHAULK AND THEN TAKE YOUR NAP!
Like or Dislike:
1 
0
What is ‘chaulk’ and why would i take it to my nap?
Yeah, I like to read… And this quote from my reading I find to be particularly humorous in how incorrect it was. Oh, it’s a Ron Paul quote, by the way.
“We probably will see widespread civil disorder in the 1980′s.”
http://mises.org/books/goldpeace.pdf
Like or Dislike:
0 
1
English is tough for the statist child. Is this the best you could find in an entire book?
Is this an accurate quote? Since you’ve read the book, you should be able to give us a page number.
As to why civil disorder was not more widespread in the 80′s, or the even the 90′s, just think bubbles.
Now the bubbles are bursting, expecially the propaganda bubble.
Go ahead and shoot the messengers, while defending the indefensable.
Thanks for the link to some good reading.
Like or Dislike:
1 
0
You haven’t read that Ron Paul .PDF yet? It was one of the first things I read while educating myself on candidates last year?
tsk tsk… I guess you underestimate 3rd graders these days? Educate yourself on your candidate my friend.
It’s on page 15, right after the quote ‘we face an economic and political crisis greater than ANY we have faced before’. (RP added the emphasis, by the way)
That was 30 years ago… If the crisis was SO great and SO impending, how come it hasn’t happened? Is it just possible, maybe, he could have been incorrect in his assessment?
Nah… Humility is not a trait evident much on this board…
Like or Dislike:
0 
1
Another presumptive post?
What you fail to recognize is that I don’t ask trolls a question that I do not know the answer.
I’ve read everything available from Paul since 1976, as well as Mises, Hayek, Rothbard, Keynes, etc.
Your posted quote, attributed to Paul:
“We probably will see widespread civil disorder in the 1980’s.”
Actual quote:
“We probably will see widespread civil disorder in the 1980s, as a direct result of our faltering economic system.”
Again, bubbles. Housing bubbles, Stock market bubbles, DotCom bubbles ….. bubbles keeping that economic system afloat. The bubbles keep bursting and exposing the fallacy that this can continue. Now we will attempt a pure government spending bubble. When that bubble blows up, the devastation will dwarf the combined previous bubbles.
Laws of Nature, Laws of Science, Laws of Economics
Buck them, pay the price.
Humility?
Like or Dislike:
1 
0
He was certainly wrong about the widespread civil disorder in the 80′s. Apparently he gave the US citizenry far too much credit. Perhaps he still does. I doubt there will be much resistance to the current (ongoing) raping of the people by the government. Americans seem pretty content to slump through life so long as they have TV, beer, and professional sports.
It’s quite comical to see you admonish people here for acting as if they “hold the grail of worldy knowledge” when you (at least tacitly) support a statist system where a very small and select group of people attempt to centrally plan the economy. It is the interventionists (Keynesians, Marxists, Mercantalists, etc.) who suffer from the fatal conceit. The Austrian tradition is the humble economic school. In fact, the theory depends on humility and the recognition of ignorance. It is the central planners (in the US, Washington and the Fed) who have the audacity and arrogance to think they know what is best for hundreds of millions of other people. Unfortunately, they also (currently) have the means of implementing their delusions.
Like or Dislike:
1 
0
Well at least Ron Paul is standing up to these evil people and telling them the truth—-of course they aren’t listening to him as usual…………they would rather go bask in their socialist bath tub with Obama and sip martinis get rich while millions of americas are barely living month to month and getting more broke by the second…..
Like or Dislike:
1 
0
I think statist is a better term but it doesn’t matter because we aren’t going to get very many co-sponsors if we go around calling people names.
Personally, I am disappointed to see the resistance to RP getting out of the fringe.
Like or Dislike:
1 
0
I am amazed at how book smart and real life stupid some of you can be..attack Ron Paul becausee he ddoesn’t speak politik is it?..Than I suggest any of you that are critical because Ron speaks not your eastern dialect..walk a mile in his Boots Buck before you tell him what’s up…Truly – Liberalism is a brain disorder,
Like or Dislike:
1 
0
Or maybe those people are not “attacking” (too strong a word IMHO) RP but this site for taking Mr B’s words too far. Because of these kinds of actions, we are in a weaker position and more likely to lose both the battle and the war.
Maybe those people don’t agree with Mr B but they don’t automatically disagree either. In other words they’ve got the back-bone it takes to know when your enemies have a debatable point. Ignoring your enemy and thinking you are indefeatable unquestionably right is a recipe for losing the battle and having your inflated ego go pop. Aren’t real soldiers constantly reevaluating their positives and negatives?
Maybe there is someplace other than mid-west and the east coast.
Like or Dislike:
0 
0
Good Morning gents..I love watchimh smart sech as yourselves, giving carefu thought to each poimt being..If we canm at one point literally tar and feather these Shysters that truly believe that the Fed is their Daddy and will protect them from consequences. Does anyone here know if their is any investigatiner Congress for at the very least lying to the people aboutloyalty to Protect the Constitution from what it seems they have become..?..(2)..I know I’m a bit slower than most of you educated bad boys but what makes us believe that Daddy is going to have what Ron Paul is searching for?..I want to see Benevolent Ben do the perp waltz for what he and every sitting Congress has done since 1913. If your feeling a bit raw around the Glut-Max.you will get my point..I mean these guys are the deeded owner of the Ranch called Here guys..How will you force Daddy to behave when Daddy has the power and loot to tell us to get lost. Ot did I miss Benny Banksters apology to us for telling us it weren’t none of our bee’s wax where our money was shipped..He and Hank the Greek were both feeling all full of themselves after proving to there astonished brethren just how stupid and powerless we are…Hellwirg ir ..leats get ready to RUMMMBBBLLLE !!! We are not quire stretced enough I’m afraid.btw .Hpow many Fedsters are here to gather and waste there time..?..When was the last year tha any Fed Tax Revenue was used to repair anything Federal? I really have no c;lue ..But for at least 7 years I know for a fact that billions of our tax dollars is shipped to Jolly Olde..forinterest in our debt to these punks..?
Lastly is this name thay I keep running into whenever I go playing tag your it in Spookers-ville aka Langley.. to this name..I heard a voice say if you know the right Casper..He might tell you to go to rumormillnews.com and be prepared to maybe judt maybe finally making semse of these mysreious shootings all obver the worl..and almost always the killer does away with him before being “=questioned”. Am I rge only one that everytime it accures se’s that remadkable movie comint to life ..and just what id a Manchurian Candidate?..This guty and his wife were n both career officer NMavy Intel Ci..and ..He has a story to tell us all about a meeting where he and 3 other Senators I believe met some fellas that informed them that they were pne of 3 Companys that were atill in the hunt for thay plumb contract..where they would be the Newest thieves replacing the old in name maybe as we het our new currency ,,as asoon as the winner id pivked ..and the mew printing press is ok’s..that happened back inm the eqrly 90′s..There is a fascinatinf story that marrys Jim Jones to Colombibe to every one of these shoot and die storys’ we see today Gunther K. Russbacher…address again for you to see if I have gone totally stupid that..Is it true Gents ..as I believe..that all roads lead out of Dallas as a Genesis to now?
Like or Dislike:
0 
0
“The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution. . . . I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied.”
- Thomas Jefferson
Like or Dislike:
0 
0
Are you capable of making all the products you consume with your own two hands? It’s been a couple years since I’ve read him but I think those are the words he used. IIRC he also allowed direct barter (but not trading through a neutral value like money). I wonder if I could survive off Oranges and web-sites. cheesy pun warning: The only nutritional value I get from developing web sites is when I’m consuming another web service.
I doubt if TJ could live to his standards if he wasn’t the biggest slave owner at the time. Yes he was one of the more (if not the most) humanitarian and responsible slave owners, but this was a time when owning slaves was almost a necessity to owning the amount of property he inherited in an area without other energy sources like in the north.
He was in a situation so foreign to everybody around me today, that I doubt if his words can be taken strictly.
Besides, the issue is whether or not we should let the Feds or the market dictate the value we use to indirectly trade with others. TJ’s claims are too out of context to be anything but a distraction.
Like or Dislike:
0 
0
Another Thomas Jefferson quote:
“The appointment of a woman to office is an innovation for which the public is not prepared, nor am I.”
Sometimes, things change man…
Like or Dislike:
0 
0
Thomas Jefferson on how to deal with a rEVOLution from a segment of society that believed in their ‘states rights’ (makes bankers seem nice, right?):
“As to their fear, we presume that our strength and their weakness is now so visible that they must see we have only to shut our hand to crush them, and that all our liberalities to them proceed from motives of pure humanity only. Should any tribe be foolhardy enough to take up the hatchet at any time, the seizing the whole country of that tribe, and driving them across the Mississippi, as the only condition of peace, would be an example to others, and a furtherance of our final consolidation.”
Again, this is only to add to perspective… Times do change…
Like or Dislike:
0 
0
Trying to make a saddle for that red herring?
Times do change, principles do not.
Please respond with substance, or not at all.
Like or Dislike:
0 
0
Really? Principles don’t change? How is that?
We should still have slaves and women shouldn’t be able to vote?
Like or Dislike:
0 
0
Mattie, do you not read your own post before you hit the submit button?
You continue to expose, to the world, your immaturity.
Do you sincerely believe that the principle of self determination was only discovered in modern times?
There has been, is, and always will be, slaves in this world. My grandfather was the first in our family (recorded) to not be a slave. Slavery may be a state principle, but it has never been a human principle.
Can you not see that you, by your words, believe that rights are granted by the state. So sorry, youngblood ….
but our rights are God-given, and it is we that determine the rights or duties of the state.
Find a new hobby, young’un. You’re not very good at this one.
Like or Dislike:
0 
0
Wasn’t Matt claiming that things change and didn’t he give examples that could be called “principles”?
Some definitions at Princeton University:
“a basic truth or law or assumption”
“a basic generalization that is accepted as true and that can be used as a basis for reasoning or conduct”
wordnet.princeton.edu/perl/webwn
Article 1st, section 2d, of the constitution establishes the “law” that non-free (slaves) people are not to be represented as a whole person. It seems to be based on an “assumption” that non-free people are less of a concern than the free. That “generalization” is no longer held to be a “basic truth”.
What makes you think that slavery is a “state” principle and not a “human” one? I thought a state was a commonwealth of individual humans.
God forbid that rights are truly god-given. Then man has no right to self-govern. John Locke put forth a good argument in “the 2nd treatise” you may want to read. If you are referring to the words of “declaration of independence” I think there is a big difference between rights exclusively given by god and those “endowed by their creator”, and I only find the DOI to be a reason to dissolve our previous alliances.
If principles didn’t change then you and your grand-father would still be a slave. Does that mean we legally ignore 2/5th of you?
BTW: you’ll have to find another way to write me off. While my 50+ year old blood doesn’t mind being called “young”, it doesn’t take kindly to the lack of human respect you’ve shown Matt or to having its name misspelled (it’s Matt not Mattie). Why don’t you go outside and wicker some twigs for me to swat your behind with.
Like or Dislike:
0 
0
Wait a minute. Don’t most of us here deplore the MSM? Why are using their tactics?
Does the headline say anything we don’t already know? I was sure that B. would defend his mistaken position. If I believed the position was right and I was in a position to defend it, I would do so also. While there is the question of whether or not his position is reality (many here would agree it isn’t), the sound-bite didn’t accurately portray anything that wasn’t already obvious and was a waste if education was the goal. What was the goal?
Why was such an emotionally loaded quote used? Was it an attempt to raise the hairs of RP’s proponents? I would have been happier to see a head-line like “B. debates R.P.” instead of something intended to manipulate our emotions and align us with predetermined ideological rules. I don’t like being manipulated and I don’t like being forcefully aligned with any line. I don’t agree with anyone 100% so just give me enough facts that I can decide where I think the line is.
B. does have one good point and anybody who has read Dilbert knows that there are problems with micro-managing or too much oversight. This could be a problem that we need to address. However, it is much too soon. Let’s establish some ground rules first, like the need to be transparent when congress farming out it’s authority.
That said, Bernanke’s argument does have at least one huge hole in it. Where does it “dictate monetary policy”? I do not read where HR1207 says how to interpret the report or what actions to take, only that it should be audited within a certain time-line.
In B’s last sentence, he seems to soften to RP’s requests and has abandoned misrepresenting the bill (which I hope he wasn’t doing intentionally). He tries to reassure us that our concerns are being protected, now it is time for him to buckle under and prove it.
The headline would only have been accurate if all of B’s argument was that the bill must be resisted and the bill really did try to dictate policy.
Like or Dislike:
0 
0
Thank you, Fluidly Unsure. That has been what troubles me. The web-site draw is exaggerated and emotional. The truth is the only effective method of drawing people who will be the most effective in taking action. Utilizing distortion of any type will draw on those who will create cross-purposes and confusion, diminishing impact. The way the discussion was described and the way it plays out on the video one would think you were watching the wrong one. I will “resist any effort” to manipulate me through emotion, distortion or exaggeration.
Like or Dislike:
0 
0
How long will you beat that broken drum?
Did Mr. Bernanke not say what the title attributes to him?
Where is the distortion? If you thought they were trying to ‘manipulate’ you, and you saw right through it, then it was ineffective.
Ineffective manipulation = No manipulation !!
How many more posts will you dedicate to this red herring?
Sounds like someone that has fallen into a pool of pirrahna, and is bitching about the temperature of the water.
Bottomline – The article is about the smugness of Mr. Bernanke, not about 1207.
Like or Dislike:
0 
0
Thank you for your kind reply.
Hopefully, Mr. Paul will find a means of expressing his views and eliciting support in a way that does engender those who appreciate him to falling into pools of pirrahna or great gobs of schmear to pretend to sound intelligent.
I stand by what I said, which was not to question what was said. Perhaps an audiologist would be of some help to you.
No need for a response, I won’t be viewing this site again.
Like or Dislike:
0 
0
Try the shallow end of the pool, where you will feel more secure.
Thank you for your contribution.
Like or Dislike:
0 
0
I don’t get it. Chris Dodd is in a pickle because he and other members of Congress (both GOP/DEM) rushed a huge bill through that provided millions in Golden Parachutes to top bank Execs. Where was the detail in that before they signed the bill? Where was the finese? The planning. Obama doesn’t even have a detailed plan on what to do with the Guantanamo Prisoners.
And some of the visitors here are complaining about the lack of a detailed plan by Paul on a possible Fed audit? Or Paul’s lack of teleprompter speech skills? His deliverence of words?
I welcome differences of opinion.But there seems to be a collective motive here. And it isn’t to gain knowledge.Or to argue the effects of a Fed Audit. It all seems for the purpose of discouraging a Fed Audit or continuing any further support for Paul.
What else is new?
Like or Dislike:
0 
0
1) Just because someone saw through manipulative efforts doesn’t mean the efforts didn’t exist in the first place. Unless maybe you believe in a Platonic universe where only our manipulative thoughts exist. On earth, that is called “mass media”.
2) As wrong as Mr B is, I expected him to think he is right and I wouldn’t define his actions as being smug.
3) Nobody questioned whether or not what was quoted was said. So what? Why does the fact that it was quoted make it more real? The newsmedia has a history of using sound-bites to distort a message. Read the book “if no news send rumors” if you don’t believe me.
4) I want the woman at my side to communicate through emotions, not a media author. One of man’s downfalls is how susceptible to emotions he is and how those emotions only distort the picture. Useful in some cases, but only a source of distortion in others.
5) If the article was about Mr B’s “smugness” (the fact that he thought he was right), it was about as useful as last years lotto ticket numbers.
Again, I would expect Mr B. to resist uncalled for dictation so I won’t hold his words against him. What I want to know why he thinks the bill would dictate to him.
Whether or not this site has degenerated into a phanboy cess-pool is an open debate.
Like or Dislike:
0 
0
Lessee,
It is OK for Mr. B to micro-manage?
Like or Dislike:
0 
0
I don’t know if B is making “micro-managing” decisions. Whether or not the Feds are trying to “micro-manage” the economy is a completely different question and whether or not they should do it is yet another. Those questions need to be addressed, but they don’t address his counter-claims so our response only gives them even more reason to poo-poo our statements.
In a situation with hierarchical authorities like this, to get things done upper-management needs to give those below them adequate authority. Of course the first question is whether the Fed’s job should be done in the first place.
The next question is whether or not HR1207 takes away any authority from B. No it doesn’t. While doing so is on RP’s agenda, auditing their activities wont do it. Maybe he is getting nervous because of what RP will do next. Uh .. I don’t feel sorry for him.
The stakes are too important for us to take time preaching to the choir unless we are jabbing for the sake of our own egos.
Like or Dislike:
0 
0
give it to ‘em Dr.Paul!!!!!
Like or Dislike:
0 
0
What I find most interesting is Bernanke’s comments about the Fed being audited yearly by a private agency and getting a clean bill of health. People need to realize that this is nothing more than a clever re-use of the “audit” buzzword – this is not the type of audit that HR1207 is asking for. It gives no information to Congress or the American people. And of course they get a clean bill of health – the Fed is a very viable business!!
Furthermore, Bernanke says,”it’s the independence of monetary policy which is crucial to the maintenance of price stability and economic growth in this country.” This statement implies an unbiased monetary policy. The Fed controls the creation of money and lends it out at interest to anyone that will borrow – how is that unbiased? Furthermore, a market that isn’t manipulated by the Fed or other government agencies will naturally find stable prices. Similarly, if we outlaw fractional reserve banking (imagine if I was a baker that could create bread without any ingredients!), inflation wouldn’t exist.
Bernanke never answered Dr. Paul’s first question – what would you do in a specific situation experienced by many nations worldwide (including our own) throughout history – what would you do? Truth is, he doesn’t have a plan, because he’s not an economic genius…at least not in the way most people think he is.
The Fed is the mother of all ponzi schemes.
Like or Dislike:
0 
0
“this is not the type of audit that HR1207 is asking for.”
So then what, exactly, is the type of audit that HR1207 is asking for? Who is going to conduct it and how? Do you have any specifics?
Like or Dislike:
0 
0
Dude, you’ve read the bill. It answers your questions quite clearly. Read it again.
Like or Dislike:
0 
0
I think you misunderstand what it means to audit something. From Wikipedia –> “Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business.” Bernanke’s claim that this private audit gives the Fed a “clean bill of health” only proves what we already know – they’re making money hand over fist. We want to know how, we want to know with whom, and we want to be able to determine what impacts such private relationships are having our our economy and foreign policy.
As for the rest of your questions, read the bill:
“To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.”
There’s your “who”
“In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `shall audit an agency’ and inserting a period.” If you read this section of the US Code, it basically lists all of the things the GAO can audit ONLY WITH THE PERMISSION OF THE FED CHAIRMAN… permission which has never been granted in nearly 100 years that the Fed has existed. HR1207 seeks to remove exceptions entirely.
There’s your “what”
Like or Dislike:
0 
0
“they’re making money hand over fist. We want to know how, we want to know with whom, and we want to be able to determine what impacts such private relationships are having our our economy and foreign policy.”
I am impressed, now that is an audit!!!!
OK, so you basically want to have a webcam and a webex on every person working at the Federal Reserve so the general populace can oversee/judge/evaluate each action using our collective, extensive knowledge of international economic theory? Wait, or by ‘we’ do you mean the comptroller general?
Personally, I would prefer an audit like this on our lawmakers first, as (1) they are making and enforcing (by extension) the rule in the first place and (2) politicians are in no way more less susceptible to greed or corruption than bankers.
Like or Dislike:
0 
0
Here we go again,
Like a circus rodeo, the straw man riding the red herring in circles.
Your deflection skills are modest, at best.
Tell the boys upstairs to send in the backup, as you are getting weaker by the post.
Like or Dislike:
0 
0
Nice. Equivalent to “oh, i’m sorry, i can’t hear a word you said?”. From some of my research that seems like a reasonable RP response:
http://www.youtube.com/watch?v=dkNK18BlgkI
I think my point has been made, you just can’t keep a good conspiracy theorist down. Not sure if you want a solution or just agitation sometimes…
However, when this bill turns up NOTHING, we will revisit and i’ll get your take on the CONSPIRACY that kept it down, alright?
Like or Dislike:
0 
0
On the eve of the 2009 Bilderberg Group conference, which is due to be held May 14-17 at the 5 star Nafsika Astir Palace Hotel in Vouliagmeni, Greece, investigative reporter Daniel Estulin has uncovered shocking details of what the elitists plan to do with the economy over the course of the next year.
The Bilderberg Group meeting is an annual confab of around 150 of the world’s most influential powerbrokers in government, industry, banking, media, academia and the military-industrial complex. The secretive group operates under “Chatham House rules,” meaning that no details of what is discussed can ever be leaked to the media, despite editors of the world’s biggest newspapers, the Washington Post, the New York Times and the Financial Times, being present at the meeting.
According to Estulin’s sources, which have been proven highly accurate in the past, Bilderberg is divided on whether to put into motion, “Either a prolonged, agonizing depression that dooms the world to decades of stagnation, decline and poverty … or an intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency.”
The information takes on added weight when one considers the fact that Estulin’s previous economic forecasts, which were based on leaks from the same sources, have proven deadly accurate. Estulin correctly predicted the housing crash and the 2008 financial meltdown as a result of what his sources inside Bilderberg told him the elite were planning based on what was said at their 2006 meeting in Canada and the 2007 conference in Turkey.
Like or Dislike:
0 
0
End the Fed. An audit is a waste of our time.
Like or Dislike:
0 
0
The Achilles heel of all statist attempts at central economic planning is the problem of economic calculation. Ludwig von Mises, who first formulated the theory of economic calculation, reasoned that socialist planning was theoretically impossible because of its inability to rationally allocate resources due to the absence of information provided by prices determined in the marketplace. Mises’s reasoning holds true for artificial manipulation of the “time market” for interest rates:
“What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.”
Artificially low interest rates result in an impairment of the economy’s ability to perform economic calculation.
In 1974, the year following the death of Ludwig von Mises, Frederich August von Hayek won the Nobel Prize in Economics for his “pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.”
Hayek’s Nobel Prize–winning Austrian economics theories drew directly from Mises’s work on the business cycle. Hayek showed, in his book Prices and Production, how monetary distortions caused by inflation and credit expansion cause the capital structure of the economy to become maladjusted.
New money that enters the economy does not affect all economic actors equally nor does new money influence all economic actors at the same time. Newly created money must enter into the economy at a specific point. Generally this monetary injection comes via credit expansion through the banking sector. Those who receive this new money first benefit at the expense of those who receive the money only after it has snaked through the economy and prices have had a chance to adjust.
Like or Dislike:
0 
0
Economics for Kids!
The “Stock Market” is like a very big grocery store where people buy things called stocks. While the Stock Market sometimes goes up (sells more for more money), it will eventually (before long) suffer a decline (sell less for less money). This cycle (back and forth) is normal.
That’s why God made “bonds” (not James) and “precious metals” (gold and silver), so that prudent (smart) investors (rich people) could put money in different places, and take advantage (make money) from natural cycles (ups and downs) happening in different economic arenas (places).
But the Federal Reserve (banks that secretly create money) decided at some point that cyclical stock downturns (regular fall down and go booms) should be a thing of the past, and that everyone should have as much money as they ever, ever wanted.
So the Federal Reserve began to give money to anyone who wanted it (or asked nicely), and started to watch the Stock Market very closely. If the Stock Markets became sad (went down), the Federal Reserve just made up more money, and gave it away, or sold it very cheaply. The Federal Reserve calls this “Lowering Interest Rates” but smart people who study the way we use money (Economists) call this “inflation”.
After 10 years of giving away free money so that the stock market is always happy, the opposite happened. The stock market is now very sad. This is because our money has “devalued” (become worthless), because the Federal Reserve gave too much away. It is like when you eat too much candy, and it makes all your teeth so rotten, they all fall out!
Now the Stock Market is going to go way down anyway (fall down and go big boom), and our money won’t be worth anything. Why is this bad? Remember those teeth that fell out when you ate too much candy? The Dentist who used to fix your teeth for $2000.00 will now cost $75,000.00.
The End
G’Night, Johnboy
Like or Dislike:
0 
0
I agree with your intelligent comment Ms. Weston. The information summary about the Fed that was released by the Fed is the law passed by Congress detailing the structure of the Federal Reserve,defining its function as a GOVERNMENT ENTITY [not as a private entity that the ignorants continuously harp on], ITS MAIN RESPONSIBILITY AND GOALS AS THE NATION’S CENTRAL BANK, and HOW THE FED OPERATES TO ACHIEVE THE PURPOSE FOR ITS CREATION BY CONGRESS. The less informed and misinformed as you read them in many of the foregoing comments, thought that the summarized info about the Fed [this is a thick volume that needs to be summarized]that was published by the Fed [you may catch them in the Internet] is a PROPAGANDA released by “thieves” in the Fed [by the way, who are those dirty rats in the first place?]not only to deceive the people but to cover their track of “robbery” and “stealing”, as how wild and politically rabid accusations spread and polute the air dangerously worse than this outbreak of flu epidemic of chicken and swines all over the country. Hard to blame those who know nothing of what they are talking about.
Just because Ron Paul says so, roughnecks do not only want to abolish the Fed but also taxes, especially the income tax and credit. Obviously, they have a grotesque idea why nations need taxes. The roads they drive on — superhighways and freeways — the modern skylines of Los Angeles and New York [superstructures of buildings, etc.] the physical and social infractures that this wealthiest and mightiest nation on the planet have, are actually taxes and credits [by Jove!! didn't they know?(!)]
Anyway, what a waste of time to explain what we now have — what this nation now have — to brains that they do not have.
Like or Dislike:
0 
0
Sneak I urge you to read the Grace Commission Report, which was commissioned by President Reagan to identify and suggest remedies for waste and abuse in the federal government. I quote”
Resistance to additional income taxes would be even more widespread if people were aware that:
-One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey.
-Another one-third of all their taxes escapes collection from others as the underground economy blossoms in direct proportion to tax increases and places even more pressure on law abiding taxpayers, promoting still more underground economy-a vicious cycle that must be broken.
-With two-thirds of everyone’s personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.”
All our income taxes pay is the interest on our national debt, the interest we receive from borrowing our money (on all levels) from the FED. Furthermore, according to Ron Paul himself, the money from taxes we collect today, from all other sources besides individual income, is enough to power out country as it was in the early-90s. Now imagine if we had that money, plus most all Americans weren’t paying 40%+ of their income every year. That sounds like a good road to economic recovery to me.
Besides all that, the income tax is a direct unapportioned tax, which is forbidden by our constitution.
Like or Dislike:
0 
0
I first learned of the Grace Commission in college when we used it in an English class in college. I would LOVE to read it again, but cannot seem to find it. Do you know where it is available?
Like or Dislike:
0 
0
After reading the run-in for the questioning of Mr. Bernanke it was expected that there would be foul ups on the Fed Chairman’s parts, vaguery, “token” willingness to concede anything & tense moments between he and Mr. Paul. What I saw, however, was a smug Mr. Paul, a calm Mr. Bernanke, no tension and a much more than token willingness to be transparent on the part of the Fed Chairman. In theory I lean toward Ron Paul on nearly every issue, but this video showed him preening his viewpoints in a nearly arrogant fashion and not “pinning” anything on Mr. Bernanke that would cause anyone unfamiliar to think there was anything wrong with the Fed. The final shot reeked and did not show Mr. Paul in a good light. If “we” the people are going to get anything done we must not be arrogant, smug, ignorant, vague or more concerned with looking good than staying to the task. When one stoops down to exalt his viewpoint his glasses fall of and he can’t see where he’s going. Mr. Paul’s attitude was more offensive than the actions of Mr. Bernanke.
Like or Dislike:
0 
0
“I will resist any attempt to dictate monetary policy.”… how does that fit in with, “… arrogant, smug, ignorant, vague or more concerned with looking good than staying to the task.”?
How about turning your attention to the matter on hand? Transparency of the Fed activities that is. Who you find most attractive of the two, is nothing but a mere digression ma’am.
Like or Dislike:
0 
0
Forgive me if I was unclear. What concerned me was the variance between the way the discussion was described on the web-site and the way the video actually showed it. There is no difference of opinion on there being many things manipulated “behind the curtain.” There are also many people making much noise about how to “fix” things. It will take many of us making much noise and taking action to make any effective change. However, before aligning with someone as a frontrunner I want more than agreement on a point or two, I want integrity, constancy and character. The disparity between the hype and the reality, the need for exaggeration causes me to question if Mr. Paul is the right person with which to become aligned. Agreement or no, I will not give my voice to someone I cannot trust.
I actually found neither man to be “attractive” in their attitude.
Like or Dislike:
0 
0
Couldn’t the title also have been “Ben Bernanke to Ron Paul: ‘we want to be open, we want you to understand that we’re taking every precaution to protect the taxpayer.’”?
One question I keep trying to get an answer to regarding this bill: What kind of an audit is Mr. Paul actually asking for? What kind of an audit will suffice to meet his requirements for ‘successfully’ audited? Who will perform the auditing?
What is Mr. Paul looking for (please don’t parrot ‘dissolve the fed’ that is not the title of this bill) with this piece of legislation? Does anyone really know if we are auditing whether or not they have fancy dinners or collateral management? If it is policy, how do you audit that? Are we auditing the alleged connections between “the Rothschilds and the consipracy that is a Central Bank”?
I, too, am intrigued but I cannot align myself with something that smacks of vagueness and is supported by a lot (not all certainly, mind you) of hyperbole.
I don’t need rhetoric, I just need details.
Like or Dislike:
0 
0
Okay, you’ver read the bill correct. It mainly concerns itself with Section 714 of title 31, United States Code. Here is the part to be amended (as explicitly stated in the bill)…
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
Read the bill again. Apply what it says and watch your (irrlevant and trivial questions/concerns) disappear. The bill would allow the Comptroller General to audit what is currently not allowed to be audited under Section 714 title 31.
I don’t see what is so hard to understand about this. It appears you are merely confusing and distracting yourself.
Like or Dislike:
0 
0
Matt appears to be our resident straw man riding a red herring, in circles.
Like or Dislike:
0 
0
So you are saying in the audit as conducted under regulations by the Comptroller General will, if there is anything nefarious, be unearthed. As thus, if this bill passes and nothing is found, the conspiracy-mongering will cease?
Like or Dislike:
0 
0
Probably not. But how am I supposed to know how the conspiracy theorists would react? I barely know my own mind. How am I supposed to know the minds of others?
But this is just another distraction and entirely irrelevant.
Like or Dislike:
0 
0
Out of my ignorance, I read a down-to-earth summary publication of what the Fed is all about. It was published by the Fed so that ignorants like myself should not fume mad like rabid dogs in attacking the Fed. The first discovery that struck me is that the Fed is the Federal Government and private banks functioning as a single government entity. It does not function as a private bank as the ignorants believe, but as a central bank of the government. Now I know what a central bank is that all civilized nations have because I have a degree in economics. When the Fed formulates monetary policies, those from the government sitting down with their private bank counterparts are the Excutive Department acting through the President of the United States, and Congress that lays down the criteria for the Fed to follow. The make up the Board of Governors. This crazy talk about J.P. Morgan, Rockefellers and Rothchilds robbing the people of their hard money does not happen and cannot happen in the Fed is structured. The thief would be the Executive Department and Congress, not just the counterpart private banks. Such nonsense insults the intelligence of average Americans. When rabid dogs barks their protest, we know that they cannot
think straight. The issue here is like the swine flu pandemic,the spread of ignorance that contaminates. Kalantiaw.
Like or Dislike:
0 
0
Only quote out of that I need. “It was published by the Fed”. I think they may have a agenda in their publications, agree?
Like or Dislike:
0 
0
- It is indeed interesting, “sneaky”, that you signed off with “Kalantiaw”. Interesting for the very reason that “Datu Kalantiaw” was the greatest hoax ever done by Jose E. Marco. In fact it is still a truth among many people! Incredible.
Interesting for the very reason that the Federal Reserve Bank is also a giant hoax. It is the biggest hoax ever designed by the Rothschild clan, and carried out by their paisanos. AND!, “sneaky”, you are a living proof of how well their scam still works. Also incredible! (However… LOL… it might have something to do with your “degree in economics”? LOL!)
Like or Dislike:
0 
0
Bernanke provided some affirmative response. So, work on it. Submit your requests to him, and get it going.
Like or Dislike:
0 
0
Agreed. Move on what we can get now and keep pushing forward.
Like or Dislike:
0 
0
End private central banks, they never work, imprison bernanke that crook and restore the monetary system to the people.
Like or Dislike:
0 
0
WHEN ABRAHAM LINCOLN CHASED THE CENTRAL BANK BACK TO EUROPE IT COST HIM HIS LIFE. THE CONNECTIONS BETWEEN THE ROTHCHILDS AND THE ASSASINS ARE ABSOLUTE. THEY TRIED TO WHACK ANDREW JACKSON TWICE FOR CHASING THEM OUT. THEY FED’S DUMBEST AND MOST FOLLOW THE RULES AS ORDERED EMPLOYEE MR.GEORGE BUCKFUSH SHOULD BE ARRESTED FOR TREASON AGAINST THIS COUNTRY AND IT’S FINANCIAL INDUSTRY. VERY FEW PEOPLE KNOW THAT FIVE DAYS BEFORE 9/11 GEORGE SIGNED THE P4P AGREEMENT WITH CANADA , MEXICO AND THE UNITED STATES. IN THIS HIDEOUS PIECE OF BUSH LEGISLATION HE APPROPRIATED $400 BILLION DOLLARS TO PLACE FIVE MILLION MEXICAN IMMIGRANTS IN HOMES BY 2010.
HE ALSO CHANGED ALL THE LENDING RULES FOR ALL BANKS , MORTGAGE COMPANIES, FANNIE MAY , FREDDIE MAC AND WALL STREET.ALL REGULATIONS WERE REMOVED. THAT ENTITLED THESE CROOKED FREAKS TO ACCOMPLISH THEIR GOAL BY CREATING UNINSURED CREDIT SWAPS TO BRING ABOUT A GLOBAL FINANCIAL MELTDOWN. ON BRASSCHECK TV THERE IS A VIDEO BY A GENTLEMAN FROM ARGENTINA NAMED SALDUCHI (I THINK THATS CORRECT) WATCH IT AND HEAR WHAT HE SAYS THE FED DID TO ARGENTINA A COUNTRY IN THE 1900′s WAS ONE OF THE MOST PROSPEROUS COUNTRIES ON THE PLANET. TODAY THE MONEY IS WORTHLESS, PEOPLE ARE STARVING AND THEY OWE THE FED FOUN HUNDRED BILLION DOLLARS. AFTER JOHN D. ROCKEFELLER AND J.P. MORGAN GOT THROUGH CREATING THE FED IN 1913 THROUGH INTIMIDATION , BRIBERY , BLACKMAIL AND MURDER EIGHT MONTHS LATER THESE SAME TWO TRAITORS TO THIS COUNTRY CREATED THE IRS THE EXACT SAME WAY. AS THEIR KNEE BREAKER PARTNERS THEY ENLISTED OUR OWN FEDERAL GOVERNMENT AS THEIR ENFORCERS. AS DR. PAUL SAYS, THE FIRST TO GO MUST BE THE FED AND THE IRS. THIS COUNTRY WAS FOUNDED TO GET AWAY FROM TAXATION WITHOUT REPRESENTATION AND THEY FORMED THE IRS WHICH GIVES ABSOLUTELY NO SAY SO ABOUT THESE HIDEOUS TAXES. TO THE FED “MONEY IS DEBT AND DEBT IS MONEY” AND AS I SAID, AS LONG AS THEY OWN THE MORTGAGE ON THE PLANET THEY HAVE US BY THE SHORT HAIR.REMEMBER, THE IRS, THE FED,SKULL AND BONES, FREEMASONS, KNIGHTS OF COLUMBUS AND THE RHODES SCHOLAR SOCIETY ARE SECRET SOCIETIES AND THEY ANSWER TO NO ONE EXCEPT THE ROCKEFELLERS AND ROTHCHILDS!!!!!!
WOLFMAN
Like or Dislike:
0 
0
You are hitting it dead on again, Wolfman! However, in this connection, I would also like to draw attention to the following:
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve.
Then follows his famous words in a speech made to Columbia University on Nov. 12, 1963: “The high office of the President has been used to foment a plot to destroy the American’s freedom and before I leave office, I must inform the citizens of this plight.”
Hmmm?… Those words, Wolfman, he spoke ten days before his assassination!
Dr. Ron Paul is indeed a most courageous man…
Like or Dislike:
0 
0
Brandulph,
You speak as one well advised. Do you have any recommendation for reading material. Even some of Mr. Paul’s supporters seem to have different takes on some of the basics of the Fed.
I would like to become more knowledgeable and would appreciate any assistance you might offer.
Like or Dislike:
0 
0
Virginia,
- Well, the net offers it all, but the writings by Eustace Mullins and G Edward Griffin are a must I think. (“The Secrets Of The Federal Reserve” and “The Creature From Jekyll Island” are both available on the net).
- My interest in the matter started when I found the following on the net in early 2002. http://3.bp.blogspot.com/_2u3vLm8H0ag/ScOihJPB4gI/AAAAAAAAADY/fnSv8284H3g/s1600-h/ecb_p1.JPG. My notes on the document tell their own tale.:-)
- There are numerous fine videos available as well. Try e.g. http://www.youtube.com/watch?v=I0WuQ5-t3xM&NR=1.
Like or Dislike:
0 
0
Great observation Mr B..Let me ask a ccouple of q’s regarding..That awful day in Dallas and Pres. order # 11110…
It is my understanding that JFK had indeed written it in like mid June’63..had actually already had printed something like $45 Billion in Silver Certificates ready to be launched as soon as Kennedys second term was underway…Does anyone here remember when like out of the blue , this Presidential oorder was “discovered” a few short years ago, right?..I mean I try to keep plugged into the assassination and anythingnew and I fo not remember ever hearing about this bombshell until, as I said, it’s resurfacing within the last few years..If anyone has more concrete knowledge about it..please tell us all…I wrote a BLOG about JFK’s murder just a couple of months ago. I believe that his murder has been solved. I also believe that the shooter who fired the fatal shot at the Grassy Knoll area..is very much alive and in prison in the mid-west on an unrelated murder attempt… I say this with trepidation and dread knowing that most will think me a loon for even broaching the subject of JFK and a conspiracy that I believe has a lot to do with what we see happening to our Republic here and now..If anyone is interested in checking it out , I have SOME WEB ADDRESSES FOR YOU TO REVIEW AND COME TO YOUR OWN CONCLUSIONS..My BLOG was entitled..”All roads lead out of Dallas”..including the road we are traveling on right now..Nothing will chamge those roads until ot unless we solve this sgameful and largely ignored crime of the Century back in ’63..Your thoughts and opinions are coveted
Like or Dislike:
0 
0
Mr. Bernanke – it is not your job to educate Ron Paul what the Federal Reserve is all about. No matter what you say to him, it is not only that he will not understand it but because he cannot understand it, especially the intricate workings of the applied principles of economics as we learned them in school to get a doctorate.
This ignorance is suffocating: Liquidity was doubled in a few short months and there is a lot of inflation out there, he says, as if inflation is numerous and Paul counted them on his fingers and found out there was a lot! See this nonsense?
There is no such thing as “double liquidity”. What the hell is he talking about …
His limited mind on economics thinks that inflation is a distortion. Inflation is not an ogre that at the mere mention of it needs to be slain. We need inflation to expand the economy. It is run-away inflation – not inflation itself – that the Fed is on the look out. That’s where the damage comes from if not controlled. You should have tapped his head on this to share with him a little bit of your knowledge and expertise.
You told him about controlling inflation – that’s a whole book in economics, buddy. You cannot throw the book on someone who cannot even talk sense in economics! He wants the GAO to audit economic policies. Audit policies like how GAO audit government expenditures … !? Where the hell did that come from.
I suggest you just request him to read a book about the Federal Reserve. It’s monetary economics that you are very good at considering your Ph.D., and if Paul would have a hard time understanding what the Fed is about because he has no academic background in economics, would you please be kind enough to help him?
If you help him, you will not only help him out of his misery but also would enlighten his angry followers that like Paul are throwing punches in the air trying to knockout the moon.
Take it from SNEAK.
Like or Dislike:
0 
0
And I suppose that you also suggest reading O.J. Simpson’s book titled “How I would Have Killed My Wife If I had Done It” as well? Hmmmmm.
Let me get this straight. We Neanderthalls should calm down and take the time to read a book on the Federal Reserve? Written by whom? Please don’t say the same Federal Reserve.
Gee, when a book is written by the same individual/individuals who have a vested interrest in covering their tracks (sic Mein Kampf/Hitler) “don’t ya think there just might be a tad bit of old fashioned bias-bullshit in there boyeeeeee?” I think I’d prefer to just wait and read “The Federal Reserve” yet to be written by the U.S. Congress after the first audit.
“Federal Reserve Chairman Ben Bernanke and then-Treasury Department chief Henry Paulson pressured Bank of America Corp. to not discuss its increasingly troubled plan to buy Merrill Lynch & Co. — a deal that later triggered a government bailout of BofA — according to testimony by Kenneth Lewis, the bank’s chief executive.” – CoyoteBlog (do you feel comfortable with this,Sneakers?)
“Fact: one can argue that the Enron situation is more honorable than the BofA situation. Enron management was trying to protect the value of Enron shareholders.In the case of BofA, the feds demanded that BofA management hide information in order to complete a transaction that BofA shareholders might rightly oppose.” – CoyoteBlog (former Enron Execs are sitting in jail,and yet,with your education,you actually believe that there is nothing wrong with this as well? no need for an audit right?)
http://www.coyoteblog.com/coyote_blog/2009/04/double-standard.html
But alas,common sense has no place in the mind of an Educated Self Proclaimed Genius such as Sneak. Why question? Why even dare to doubt him? A true sign of wisdom is one’s willingness to trust the motives and abilities of the intelligent,annointed ones.Like the afore mentioned Bernanke/Paulson.And now Tiny Tim Tax Cheat. Who are trying so hard to have patience with all of us pesky little low-mental tax payers.
Wow! Golly Gee whillickers! Them damn yankee college boys have got their game on I tell ya! He He! Just look how they’re able to twist and force things any way they want for our own good! They persecute others while gittin away with the same thing! Holy Catfish!! But their doing it for us little ones. Cause they Luvvvvvv us!!
Go ahead Sneakers. Keep thinking we’re a bunch of dumb hicks.If that’s what makes you feel more like a man in front of your Mom’s mirror.
Like or Dislike:
0 
0
Sneaky,
Another Keynesian whore defending the indefensable.
Go ahead and spout your Marxist economic theory and we’ll just hold up the P&L statement, and point at the bottom line.
Your Ponzi scheme economics have driven this country into the ditch, AGAIN.
Your unconstitutional economic policy is destroying the middle-class, and Keynesian whores like yourself continue to defend it because that was what you were taught in your state-sponsored institution of re-education.
BTW, Dr. Ron Paul is well schooled in medicine, history, and economics. Bernanke could not touch him in any of these subjects.
Let’s ask these academics, that all back his proposed policies;
Jonathan Bean, Ph.D. – research fellow at Independent Institute*, professor of history, Southern Illinois University
David Beito, Ph.D. – professor of history at University of Alabama
Walter Block, Ph.D. – professor of economics at Loyola University* and fellow at the Mises Institute
Nelson Borelli, M.D. – Department of Psychiatry and Behavioral Sciences,?Medical School, Northwestern University
Samuel Bostaph, Ph.D. – Chairman, Department of Economics, University of Dallas
Jack Chambless, Ph.D. – professor of economics at Valencia College
Joe Michael Cobb, Ph.D. – retired professor of economics, Orange Coast College* and Saddleback College
Casimir Dadak, Ph.D. – Associate Professor of Finance and Economics, Dept. of Business and Economics, Hollins University
Thomas DiLorenzo, Ph.D. – Professor of Economics, Loyola College in Maryland; Senior Faculty Member, the Ludwig von Mises Institute
Gary Galles, Ph.D. – professor of economics at Pepperdine University
Keith Halderman – research assistant at Trebach Institute* and adjunct professor at American University
Steve H. Hanke, Ph.D. – Professor of Applied Economics, The Johns Hopkins University and Journalist for Forbes Magazine
David R. Henderson, Ph.D. – Hoover Institution* and professor of economics at the Naval Postgraduate School in Monterey, California
Guido Hulsmann, Ph.D. – Senior Fellow, Ludwig Von Mises Institute
Zagros Madjd-Sadjadi, Ph.D. – Assistant Professor of Economics, Department of Economics, Winston-Salem State University
Mark LeBar, Ph.D. – Department of Philosophy, Ohio University
William Marina, Ph.D. – Department of History, Florida Atlantic University
Charles W. Nuckolls, Ph.D. – Department of Anthropology, Brigham Young University
William H. Peterson, Ph.D. – Schlarbaum Laureate, Ludwig von Misis Institute
Ivan Pongracic, Jr., Ph.D. – Department of Economics, Hillsdale College
Arthur Robinson, Ph.D. – Founder, Robinson Curriculum; President of the Oregon Institute of Science and Medicine
Joseph T. Salerno, Ph.D. – Graduate Program Chair, Department of Finance and Economics, Lubin School of Business, Pace University
D. Eric Schansberg, Ph.D. – Department of Economics, Indiana University
Ken Schoolland, M.S.F.S. – economics and political science, Hawaii Pacific University
Larry J. Sechrest, Ph.D. – Professor of Economics, Sul Ross University
Mark Thornton, Ph.D. – Author, Former Economic Advisor to the Governor of Alabama; Senior Fellow, Ludwig von Mises Institute
Walter E. Williams, Ph.D. – professor of economics at George Mason University
Thomas E. Woods, Jr., Ph.D. – author and resident historian at the Mises Institute
James Yohe, Ph.D. – Gadsden State Community College
When you are defending the indefensable, you are part of the problem.
Like or Dislike:
0 
0
Way to go!! Oh the silence is deafening!
Like or Dislike:
0 
0
Read Henry Hazlitt “Economics In One Lesson”. There are MANY
other books on economics. Hayek “The Roal TO Serfdom” Griffin’s
“Creature From Jekyl Island”. etc. At 78 years, retired history teacher and state committee of the Reform Party, the fact that you “swallow whole” the Federal Reserve publication
is amazing especially with a degree in economics!
Also consider that the policy is NOT made by the administration of ANY President but only implimented when dictated by the Fed which is THE INTELLECTUAL AND EXPERIENTIAL SUPERIOR — THEY SAY!
Also consider the record since 1913. This was sold to the US as a way to control (manipulate) the money supply (M3 which has not even been reported for the past 3 years) so that we wouldn’t have the boom – bust cycles. 16 years later -1929- the market crashed. Why didn’t congress repeal the Fed then? Was Aldrich still in the Senate?
The money has been loosened, prosperity AND prices rose, then the money men tightened down on credit, the market fell, the money men bought assets at VERY LOW PRICES. This happenned over and over since 1913 explaining why they (Money Men) end up with “all the marbles”. Read H.W.Brand’s “Tbe Money Men” – it’s about capitalism (really free market) vs a republic since
our revolution.
Also, PhD = Piled Higher and Deeper. fernhart@verizon.net
Marianne
Like or Dislike:
0 
0
Bernanke says: “It’s the independence of monetary policy which is crucial to the maintenance of price stability and economic growth in this country.” Number one, they are doing a lousy job of it, if that is what they believe their mission is. However, they should not be in this business to begin with. Why is the Federal Reserve doing the job of our Congress and making monetary policy at all? Isn’t that the responsibility of our government? I don’t think the average American understands that our government has lost control of its US monetary policy to a privately held enterprise. As a private enterprise, American citizens are the customers of the Federal Reserve, not their dependents looking to them for policy of anything. Congress MUST get control back of the reigns on US monetary policy NOW from the Federal Reserve. I knew there was a problem, but this video really opened my eyes to the severity of mindset and worldview that must be changed if the US is ever to recover its financial and economic stability.
Bernanke says: “It’s the independence of monetary policy which is crucial to the maintenance of price stability and economic growth in this country.” He’s absolutely right……..wrestling the independence of monetary policy of the American People BACK from the Federal Reserve is absolutely crucial and urgent.
Like or Dislike:
0 
0
Well spoken point!
Like or Dislike:
0 
0
Well, obviously he hasn’t been shopping and seen how much the basic cost of everyday living has increased. This is not visible until you are trying to live on next to nothing and stretch the almighty dollar to buy the basics of living. Just yesterday we were trying to buy groceries on a very small amount of cash that we are currently forced to live on, and we realized that what we used to be able to live on was no longer viable. We observed that virtually EVERYTHING we normally buy as a food or living staple has already increased by not 10%, but 20-30%. For example, I bought a case of Kleenex that was $13.88 but not too long ago it was under $10 and had been for years. We were walking down the isle remarking that grocery items that a year ago used to be $4-6 are now $8-10. Like everything else, they can measure and make statistics say whatever they want them to say, but they can’t change the fact that the dollar doesn’t go as far at the grocery store as it did just a year ago. Bottom-line for consumers.
Like or Dislike:
0 
0
When the Fed does get audited – if they don’t destroy the evidence first – the books will show trillions of dollars being diverted to the Pentagon – Rumsfeld testified that he could not account for more than 3 trillion dollars in defense spending on Sept. 10, 2001- it’s on YouTube – . Trillions were also diverted to european interests and to a new World Bank.
Like or Dislike:
0 
0
No question about that, Eric Burt, but I am of the firm opinion, that what you point at is only the tip of “the iceberg”. It has gone on for nearly a hundred years through their FED, and now, they even have their new scam to carry on with; The European Central Bank!
Like or Dislike:
0 
0
Great Job Dr. Paul !
Bernanke’s smug answers don’t hold up against your questions – it is all about the policy – The depression and all the recessions in the 20th century have been created by Fed policies. The Fed doesn’t want to change because they profit from flooding our market with liquidity.
Like or Dislike:
0 
0
Thank you, Mr. Paul for fighting the good fight. Keep it up!
Like or Dislike:
0 
0
Very good, he’s getting defensive. Can’t wait for their reaction when the bill is implemented. Even with the bill in place they will not give away their secrets, this might be the final trigger for the rise of massive public awareness. Maybee even globally.
Whatever happens, they can’t stop public awareness anymore and they will run through their procedures in a hurry to meat their globallisation goals even more. It will be so obvious and they will break down in a panic and the rats will leave the ship.
After that operation “Clean Up” is well on it’s way.
Getting rid of all ‘think tanks’ will be fun. Liquidating all accets of members and former membbers will be a laugh.
After reinstalling the constitution, make sure by law that members in public office may not and may not have been member of any secret society.
The world will look great, green, prosperous and peacefull. Noone has to be hungry if we don’t want it!
Like or Dislike:
0 
0
Well because your liguistic skills are more in alignment with Bandito Ben- perhaps you should take over the Senators seat and if nothing else you and the Fed thief can impress one another with the fact that you are truly Cunning Linguist..I think i’ll stick with my boy from Texas
Like or Dislike:
0 
0
Thank you very much for informing me about my poor linguistic skills or as you put it liguistic skills.
My linguistic skills are fine in my native language but, since you would not understand a word of Dutch I tried to accommodate you by trying to write in English.
I’m sorry if I got a little carried away but, I am trying to get a global perspective on the whole globalisation subject and saw for the first time someone like Bernanke experiancing some real heat and how he dealt with it. It gives someone like myself the hope we can change the world we live in.
And then some dickhead like you comes along and tries to spoil my good mood. Seems to me you have a long way to go growing up and becoming aware of the world we live in. Don’t try to put people down that believe in the same cause you do. Don’t put people down because you might be better at something. It doesn’t help and it’s lost energy when you’re done.
I don’t think you have a clue what this is all about. I guess you don’t know when the FED was even created let alone by whome or where Jeckyll Island is.
If you don’t, do the research. If you do, get aquainted with topics related to it. Put your energy in something usefull instead off putting people like me down. I think you will learn that saying something like “I think i’ll stick with my boy from Texas.”, shows how ignorant you realy are.
Try commenting on the subject instead off beating someones head in with your own stupidity. Get involved and talk about this stuff in your community.
Try to understand what money is and how it enslaves you. Try to impress people with your knowledge on the subject without beeing an arrogant nitwit without any understanding of any other part of the world than Texas. There might be more.
Like or Dislike:
0 
0
But what constitutes a secret party?
Is a “secret society” one with restrictive membership and is run by a small niche? Every ToastMaster club I’ve been to qualifies as “secret”.
Does a society that openly advertises itself qualify as secret?
http://www.trilateral.org
Cecil Adams made a few good points over 20 years ago.
Membership has been used as political ammunition against many like Ford, Carter, and Bush Sr.
http://www.straightdope.com/columns/read/524/is-the-trilateral-commission-the-secret-organization-that-runs-the-world
or
http://tinyurl.com/67tcbk
As long as the idea of secret societies exists (in real or just in some peoples heads), the claim of membership is ripe for abuse. How can someone defend themselves?
Like or Dislike:
0 
0
I cannot believe how patient and restrained Ron Paul is.The US has a bunch of criminals looting it’s economy by conjuring money from cyber space and then loaning to the Govt at interest!
If we do it is called counterfeiting and we go to jail.Counterfeiting is theft since it dilutes everyone else’s assets through inflation.If the Fed does it,it is called monetary policy.Legalised theft?
Like or Dislike:
0 
0
His answers, and all notFederal noReserve answers, are always odd and they have trouble explaining what they are doing because they don’t decide the plan – they are told what to do and they do it. Then they try to explain why they are taking actions that are destroying the country.
The answer is because they are told to.
Look at the Secretary of the Treasury – he is going after tax cheats. All he has to do is arrest himself and his cronies.
Like or Dislike:
0 
0
“It’s the independence of monetary policy which is crucial to the maintenance of price stability and economic growth in this country.”-Bernanke
Well, if what you say is true Mr. Bernanke, then why are our nation’s finances so screwed up? Time to open the windows and let some fresh air into the room buddy.
My brother recently went on vacation with the owner of an American Insurance Company.The man is as wealthy as D.Trump. And even this very wealthy man felt like a peasant compared to some of the rich people that they ran into in Italy and Greece. Now where and how in God’s name can two little countries amass such wealth?
With 1/80th the economy of the U.S. Especially after WWII. How?
I’ll tell you how. Somehow,someway I suspect that a huge chunk of America’s wealth has been funneled across the ocean to fund these liberal countries.Because their big Government/Socialist ideals don’t promote free markets. Therefore, they need our money to be sent to be them, via the Fed ON A REGULAR BASIS. For decades now. That’s how. Hell, did you know that America pays for Ireland’s TV Cable? And that’s just what is made public.
Which would explain the Fed’s defiant secrecy,Obama’s European popularity and America’s urgent need to clean house. Or in President Jackson’s words ” I’m going to shut down the Banker’s grip on America and rout you out like the vermin you are!”- Andrew Jackson
God I can’t wait to read the front page news: ” Congress Shut’s Down the Fed”. One can only dream. Ha ha!. Bye bye Bernanke.Bye Bye Europe! Bye Bye Golden Parachutes. Bye Bye Fannie and Fred.No more free ride from America. From now on everyone will have to go back to earning money the old fashioned way,
work for it.
Like or Dislike:
0 
0
…LOL… I’ll tell you how. Somehow,someway I suspect that a huge chunk of America’s wealth has been funneled across the ocean to fund these liberal countries… LOL… Because their big Government/Socialist ideals don’t promote free markets… LOL… Therefore, they need our money to be sent to be them, LOL… via the Fed ON A REGULAR BASIS…LOL… For decades now…LOL… That’s how…LOL… Hell, did you know that America pays for Ireland’s TV Cable?…LOL… LOL… And that’s just what is made public… LOL… Which would explain the Fed’s defiant secrecy, Obama’s European popularity and America’s urgent need to clean house… LOL…this very wealthy man felt like a peasant compared to some of the rich people that they ran into in Italy and Greece. LOL…
I haven’t had a better laugh for ages, Peter, just incredibly funny! LOL!… and then the punch, -”Bye Bye Europe”… LOL… Please write more!
Like or Dislike:
0 
0
OK Mr.Einstein (Brandulph).
You’re response has the trademark of adolescence. Please stay out of the bars and try to study so maybe you’ll learn something while wasting your parent’s money in college.
I guess all of the post-Obama-Campaign ACCORN Bloggers are out of work and have been hired by an obviously nervouse FED to harrass supporters of Paul’s bill.
Like or Dislike:
0 
0
Hi there Peter!
- Evidently I have totally misunderstood you… I honestly thought that you WERE joking.
- I am an EC citizens (Norwegian of birth, 70 years old in a few days, living in Germany and in Spain).
- Hence, my reaction to your posting, linked with your reaction to my response, might sadly serve as an indication of how far away we (US/EC) might stand apart in our perception of the world in which we live, at times.
- My Blog however,- http://brandulph.blogspot.com/2009/03/federal-reserve-transparency-act.html – ought to serve you as an ample proof of the fact that we are on the same side of the “fence”, regarding the FED and related matters.
- As for the sad fact that I evidently have upset you with my “European” interpretation of your posting, please accept my apologies.
- However, Peter, for most of us Europeans, it is clear, that people anywhere in the world, linked to the “international bankers scam”, have the possibility of becoming as wealthy as any “Donald Trump” or whatever their name is.
- Further on, the nailing of the FED, is not a matter of importance for USA alone. It is of vital importance for the whole world economy, and I trust you are aware of the fact, that the ECB is plain a copy of the FED… and that it is ran by the very same jackals.
- Please hang in there, Peter, and fight onwards in this most important battle, fronted by an unbelievable courageous man, Dr. Ron Paul. (Europe by and large is unaware of it!)
Like or Dislike:
0 
0
Mr.Brandulph,
apologies excepted. I too apologize.And yes we are all in this together. On both sides of the pond.
When I was young my family was wealthy. We had oil royalties from numerous oil wells across Texas and Oklahoma.But the US Congress passed a bill in the late 60s and revived it again in the 80s to penalize US oil wells that produced barrels of oil over a certain allowed amount.This was handled (of course) in the form of extremely high taxes. Hence, our money and life style dwindled until my father passed away a broken and depressed man. He felt betrayed by the very same country he loved and fought so bravely for.He was a wounded US Army Captain in WWII.
It seems that the control of money and the power to make monitary policy has no morals or values. We all have a stake in this.
There’s a lot more going on with the Fed than just controlling interrest rates and the flow of money.They have their hands in everything. Which explains the need for the secrecy. There is definitely a sinister element involved.The defiant nature and energetic attempts to side track Paul’s Bill is evidence of this. My father witnessed it first hand. Not a conspiracy. Reality.
This is why I am amused at some of the bloggers here who ridicule Paul supporters as being Chicken Little. They really trust the Fed? Then why block an audit? What is there to hide? I’ve read every argument from the cost of the audit,the futility of an audit,the unplanned procedures of an audit to the detailed technicalities of an audit. So what?? Let’s have an audit and get it over with.
Isn’t Norway one of the clever countries that uses the steam from underground geisers to power their energy needs?
Like or Dislike:
0 
0
- Well, Peter, you have witnessed the whole scam at close range, and of course, you are absolutely right when you write, -”There’s a lot more going on with the Fed than just controlling interest rates and the flow of money.They have their hands in everything.”
The misery of religion i guess.
- “They” are, and have for a hundred years or so, been the REAL government of the USA. Simple as that, Peter, simple as that.
- When I was young, and made my first long haul on my own sailing boat, my grandpa told me, -”Remember this one thing, son. When the going gets rough, and you stand there at the helm in a bad storm, never let go of the rudder! Never ever fall on your knees, folding your hands and pray to a god for help to get you through the heavy weather. ‘Cause if you do that, you will lose your cargo, your ship and everyone sailing with her… and of course… you will be gone too! Hang on to the rudder, son… never, ever, fall on your knees in prayers! If you don’t know how to handle your ship in a bad storm… you’re not worthy of her! Sail!.. navigate!… curse the devil… but don’t pray!”
- Well, in my long life I have weathered many a storm… and it has always surprised me how frequently most Americans call on a “god” to get get themselves out of some “bad weather”.
- And by the way, the country with natural energy in abundance under their feet, is Iceland. Inhabited by good old “vikings”.
Like or Dislike:
0 
0
You boys kissed and made up yet? ..good..All of us here that are not working for the perverts in D C need to support each other ..Help educate each other ..and stand together by forming plans that we can perhaps implement as a group rather than as an individual..I was evesdropping into your emails Peter and Mr Brandulph and what I am ftnding so fasconating is that we all bring our own unique knowledge and experiences regarding this absolute lie of all lies valled the Fed..I read a story a year or so ago that I wish now I had kept. The author who only identified himself as a former Federal Reserve mid level employee stated that a substatial amount of our gold and silver reserves has been transferred to the Fedreal Reserve as payment due..and is now buried within Fed owned Bank somewhere in Europe..Perhaps just a loon trying to scare the crap out of us..But once again, how would we really know if that is true or false?..If true, than how can we ever hope to build a monetary system based on precious metals again..?
Like or Dislike:
0 
0
Alan Greenspan, Ben Bernanke, Henry Paulson, Phil Gramm, Larry Summers, Chris Dodd, and every C-level executive in mortgage lending and investment banking belong in jail for the accounting rules that were yo-yo’d to create the “credit crunch” to then justify defrauding Americans out of $700 billion and some. Political corruption is at the heart of this. The Watergate scandal with Nixon is naive and innocent in comparison to what has and is happening. What is missing are relentless journalists, wide scale prosecutions, and a 1960s-style revolution that forces a house cleaning. The Federal Reserve has done the same thing by yo-yo-ing interest rates and the money supply, by “creating” an economy when there is none. No one is better off today even after 20 or 30 years of living in the U.S.
Like or Dislike:
0 
0
Only man in Congress who truly put his love for this country and truth before his comfort,career and life !
You are My HERO and inspiration to make a difference..
Like or Dislike:
0 
0
Praise God for RON PAUL!! He is right on point, and right on his suspicions of what is going on with the money at the Federal Reserve. IF the Federal Reserve was NOT doing “shady business”, they would gladly accept an audit. What business in America can operate this way, and stay afloat? Abolish the Fed, return our country back to it’s original owners(we the people), and prosecute those global elitist bankers that have decimated our society with their crap and outright theft. Ask yourself this question? Why in the world does America owe so much money to China? I rest my case, and thank God for RON PAUL. At least honest, integrity, and ethics still mean something to this Great American!!
Like or Dislike:
0 
0
Well spoken, Frank Collatt, but how about starting with the prosecution of all the corrupt politicians who are ON THE TAKE by those who have the power to create and issue money out of nothing?… i.e. the “Rothschild” clan.
Like or Dislike:
0 
0
I AGREE!! In fact, maybe we need to create a company that hires U.S. Attorneys and Prosecutors!! From the daily news there is so much corruption, we have a shortage of attorneys assigned to prosecute all of these corrupt politicians and business people. Amazing isn’t it? Who would have thought America would have ended up headed in this direction? If other members of Congress would have the Ethics and Intergrity of RON PAUL, then we could nip this problem in the bud!! Take a look at Stanford Financial Services, the SEC was warned back in 2002′, and this individual was allowed to scam investors for another seven(7) years……
Like or Dislike:
0 
0
Audit the Fed, hell we should just get rid of it. Ever since we let them set up shop and control monetary policy, our dollar has lost value consistently. Either these guys are as smart as they want us to think they are or they are stupid as hell to lead our economy to the way it is now.
Like or Dislike:
0 
0
Thank you Mr. Paul. You are a true patriot. I love seeing Ben Bernanke squirm and we soon will be there. Contact your congressman and tell them to support this bill.
Like or Dislike:
0 
0
OF COURSE THE LOWLIFE WOULD RESIST ANY ATTEMPT TO DICTATE MONETARY POLICY! IF HE DIDN’T HIS BOSS’S ,THE ROTHCHILDS, ROCKEFELLERS,WARBURGS, STANLEY AND MORGANS WOULD CUT HIS THROAT. HE WORKS FOR A PRIVATE BANKING CARTEL THAT CURRENTLY OWNS THE MORTGAGE ON EVERY COUNTRY THAT HAS ANYTHING OF VALUE IN IT. THEY HAVE OWNED OUR CURRENCY SINCE 1913 AND AS LONG AS THEY DO NOTHING WILL EVER CHANGE. GOOGLE THE ‘FEDERAL RESERVES TRAIL OF BLOOD’ AND YOU WILL SEE HOW THESE “TAKE OVER THE WORLD” CREEPS OPERATE.WE ARE GOVERNED BY A SECRET SHADOW GOVERNMENT AND UNTIL IT IS DESTROYED THIS WORLD WILL NEVER BE RIGHT!!!!!
Wolfman
Like or Dislike:
0 
0
- Well spoken, Wolfman, well spoken!
- The very essence of the problem, which you point at, must be attacked and dealt with. Remove the cause of the cancer, and all the symptoms will disappear by themselves.
- “Let me issue and control a nation’s money and I care not who writes its laws.” are words uttered by Amschel (Bauer Mayer) Rothschild way back in 1838. And, in those words is embedded the reason for the “cancer” in the whole world ecconomy… a “cancer” made possible by the acts of corrupt politicians, world wide.
- And at present in the US, the list of politicians who do NOT support Ron Pauls bill to audit the FED, are the names of US politicians who are on the take by the “Rothschilds”.
Like or Dislike:
0 
0
A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.
For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear: Cicero Marcus Tullius – Born on January 3, 106 BC and was murdered on December 7,
=
“There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution.” – Aldous Huxley, Tavistock Group, California Medical School,
“A popular government without popular information or the means of acquiring it is but a prologue to a farce or a tragedy, or perhaps both. Knowledge will forever govern ignorance: And a people who mean to be their own Governors, must arm themselves with the power which knowledge gives.” — James Madison
(1751-1836), Father of the Constitution for the USA, 4th US President Source: letter to W. T. Barry, August 4, 1822, Ref: Letters and other Writings of James Madison, vol. 3 (276)
=
“Liberty, according to my metaphysics, is an intellectual quality, an attribute that belongs not to fate nor chance. Neither possesses it, neither is capable of it. There is nothing moral or immoral in the idea of it. The definition of it is a self-determining power in an intellectual agent. It implies thought and choice and power; it can elect between objects, indifferent in point of morality, neither morally good nor morally evil. ” — John Adams (1735-1826) Founding Father, 2nd US President Source: Letter to John Taylor 16 April 1814
=
Do not wait; the time will never be “just right’. Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along. — Napoleon Hill
Like or Dislike:
0 
0
A good, you found the copy/paste function on your computer.
Like or Dislike:
0 
0
The “Wolf-Haddy” has it down hard and straightfellow Infadels..Thank You Wolf for your making us all pay attention to the facts..Bad Ben Bernanke like hid fellow thieves and traitors ro this Country is nothing but a shyster with a clean night shirt…Now I am trying to stay calm and focused here but I am going to challenge anyone that even hints that Bernanke is anything more than a water boy for the slags that Wolf named in his BLOG..Tell me gentlemen..where am I in error here?..What has these den of thieves that make up the core group of the Federal Reserve Corp. done since crashing our party back in 1913..to make America a better, more financially solvent, more productive and better country for we the people to live in?..How many here and I know there are some pedigreed and brilliant thinkers here..How many of those fellas objected when our filthy self serving Congress decided that we were mo longer a Republic..but rather ..we were reborn as a Democracy..When did that change take place?..Who authotized it? What the hell..difference is it ..right?..WRONG..My hunch is that the bosses at the Fed..ordered the subtle change around the time when we were busy fighting a war they probably started ..I will guess about 1950..Amd we just like lemmings marched our stupid asses closer and closer to the cliff..haven’t we? Well I am not a scholar like most here ..But let me take a stab at why this Denmcracy lie is so important to the bosses..Democracy’s anywhere and everywhere are doomed to failure..WHY? Because -and it is being played out before our very eyes gents- Because Democracy says that the Majority rules..period…Which is ok when you have leaders that are not part of the swindle..but when everyone turns out to be just the same as the previous liars and thieves..and they are the majority (liberals).than they know that majority rules..NOT OUR GOD_DAMN CONSTITUTION..that is exactly wha thas happened to us fellow slaves..We let them get away with our money..our dignity..and if they are not stopped soon ..and with the voting majority officially makes us a Democracy..The Costitutional Law of this land will simply have no power ..at all..A Republic on the other hand will always consider the Constitution to be the final authority as to what is legal..That is why rhe Founders made damn sure in the Federalist Papers which is never taught at our failed Ed system are so damn important right now..Where am I in error here? How many of us has written letters to the Perverts in Congress pointing out this travesty of thinking we were just going to allow them to rape our Republic to death was poor thinking on their part..Tell me gents ..am I like making to much of this..? Is there anyone here that thinks that anyone other than the secret elite within the Fed are the monsters who own our debt?..What does that mean..?..Educate me .. I have a great 6 minute video that tells the difference between Republic and Democracy much better than I did ..Can I upload that here so everone can have a copy of it..educate me Rebels..BUT please do not dignify any of those tramps at the Fed..They are slime balls worthy of only out anger and our vows to make them pay ..some day
Like or Dislike:
0 
0
Dr. Paul, Thanks for taking on the independence of the FED. These guys think they are above scrutiny, which, to me, makes it more obvious that they are operating without any oversight (of any consequence). Hang ‘em high. Its about time to return to the intent of our founding fathers. In earlier times they may have been tarred and feathered (more likely candidates of being drawn and quartered). I am so tired of looking at the smug looks of Bernanke and Geithner. Sometimes I think they are on the verge of laughing at the questioners. Is there anybody investigating the FED, SEC or Treasury? Surely they are not above the law. (Oh that’s right, Paulson tried to pass the original bailout with the stipulation that no matter what he couldn’t be held legally responsilbe for anything he did (or didn’t do)).
Like or Dislike:
0 
0
Bernanke said it would not be acceptable for our Congress to dictate monetary policy.
It would NOT be acceptable for our elected representatives to represent us.
Wow, what exciting times we live in.
Like or Dislike:
0 
0
Everyone here needs to read “The Creature from Jekyl Island” by Griffin. The “Federal” Reserve does not serve the American people, it serves the World Bank, the CFR, the Round Table, and the mega wealthy. Remember the “Federal” Reserve is a private Corporation.
Ron Paul knows what is in this book and others like it. Thanks to Ron Paul, who by the way got an “A” on gradegov.com, the word is slowly getting out about the corruption in government, both in the U.S. and abroad.
Like or Dislike:
0 
0
This private corporation we call the “Fed” (what a joke) has
bled every aspect of this country dry. There is not anyone
or anything that has been left untouched by this monster. They
were responsible for JFK’s assassination! There is no doubt about this. These bastards need to be rounded up and
executed for all the suffering they have caused! I hope to God that there is a revolution in this country like in France!
Thomas Paine said “that revolution from time to time is good.” We need to end the “Fed” once and for all!
Like or Dislike:
0 
0
An honest man in Washington!!!???? You are appreciated more than you know,sir.
Like or Dislike:
0 
0
Ron Paul is onto the federal reserve manipulating money/interest rates. And Bernanke cannot shake him. What is frustrating are my three reprensentatives (house John Mica and senators Nelson and Martinez. These three just will not fight to take back control of the banks and funds. Honestly, these three are whimps and I am ashamed of them.
Like or Dislike:
0 
0
I just want to say thank you Dr. Paul, you’re a true patriot! It’s good to see there’s still a Congressman with a backbone who’s willing to stand up for WE THE PEOPLE and OUR CONSTITUTION! The truth will eventually overcome all the corrption in our country…GOD BLESS Dr. RON PAUL, you’re in my prayers Brother!!! KEEP THE TRUTH ALIVE…
Like or Dislike:
0 
0
nothin will happen if we sit back and watch, i honestly dont think theres enough people trying to change things not just for us but for the next generations of people. or not enough people who are realizing whats goin on rite in front of them. as long as people are comfort in there own zone then they dont want to change, and this makes it difficult for us and i can understand now why alex jones becomes to frustrated
Like or Dislike:
0 
0
Woot!! Rip him a new one!!!
Like or Dislike:
0 
0
What is so frustrating is the fact that Fed policy over the years has been a disaster. But, the Fed never learns, does not seem to care about history or past results. Just continues along the same old failed past. With that said, why be concerned about policy suggestions which might just be a whole lot better? Is it pride, ego or no-one is smarter than the Fed?
Like or Dislike:
0 
0
how about this: they want to create another depression, because it is in THEIR best interest.
Like or Dislike:
0 
0
[...] last year? He gets it. He understands better than Bernanke about monetary policies. Just watch this video and tell me who you think gets it. As a matter of fact, watch his other videos and read his views. [...]
Like or Dislike:
0 
0
thanks congressman Dr. Ron Paul, i can safely say your my idol and i just wish in my lifetime (im only 20 lol so still a long way to go) that i will be as smart and grow the balls to stand up to these people. I am very intimdated by the courts and the law and am trying to learn the laws and my rights.
i just wanna show my appreciation for standing up for the people and as i am canadian and have never been to america i still realize what happens in america effects us tremendously.
For all you people that are looking for ways to contribute i can give u a few examples of what i have done. I have started a facebook group down with one world government, i have been following the co-sponsors to the HR 1207 bill to AUDIT THE FED, and have been asking people and calling in myself, to the reps who have not co-sponsored the bill. also i have been leaveing messages on youtube, other facebook groups, and forums. and just for spite have started going into chat rooms and jus chatting it up with people and trying to raise awareness in the hopes even one person looks into this or even does a little research, becasue a little research can go along way. peace to all and i hope we get out of this mess before its to late,,, luckily i have a cabin tucked away here in the maritimes in case it gets to that point aha anyone is welcome to join
Like or Dislike:
0 
0
Soon he’ll have to bend over and take it.
Like or Dislike:
0 
0
Bernanke needs to be arested… not given quarter to continue to stel the taxpayers money….
Like or Dislike:
0 
0
I’ve noticed Bernanke is increasingly squirming under Paul’s questioning.. 124 and growing!
Like or Dislike:
0 
0