Ron Paul at Forbes.com: Audit the Federal Reserve




Two days after economics professor and CFR member Thomas F. Cooley’s Forbes.com column in defense of the Federal Reserve generated a firestorm of comments, Ron Paul was given the opportunity to present his point of view on why an audit of the Federal Reserve and its unelected bureaucrats makes sense and is necessary if we want to save the economy.

Fed Up – Audit the Federal Reserve

by Ron Paul

The Federal Reserve’s recent and unprecedented actions in the realm of monetary policy have provoked a backlash among the American people. Trillions of dollars worth of loans and guarantees have been provided to Wall Street firms, while Main Street Americans suffocate under harsh taxation, the prospect of higher debt levels and increasing inflation. These events have awakened many Americans to problems with the Fed’s loose monetary policy, the bubbles it has created in the past and the potential hyperinflation it might cause in the future.

One of the fallacies of modern economics is the idea that a central bank is required in order to keep inflation low and promote economic growth. In reality, it is the central bank’s monetary policy that causes inflation and depresses economic growth. Inflation is an increase in the supply of money, which in our day and age is directly caused or initiated by central banks. All other things being equal, inflation results in a rise in prices. A so-called “mild” rate of inflation of 3% per year leads to a 56% rise in prices over a 15-year period. Even a “low” rate of inflation of 2% per year leads to a 35% rise over that same period. How is that conducive to long-term growth?

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5 Comments:

  1. Greetings
    Pray you have time to study & support www.LibertyDollar.org solution to the federal reserve.
    End the sin of usury.
    Prayerfully v

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  2. ONCE AGAIN, RON PAUL SIR, we must stand firm in our stand to AUDIT THE FEDERAL RESERVE, to gain facts that will prove conclusively "where all of the money went, to whom, what amount, and when". An audit is the "ONLY AVAILABLE VEHICLE" with which to gain this information. I might also suggest SPECIAL COUNSEL appointed to oversee this massive undertaking with the POWER TO BRING SUBPOENAS which can be used to further gain information, and ascertain the truth. RON PAUL, You are A SUPER GREAT AMERICAN, as well as those that stand alongside you. It takes courage to do the right thing, and get the ball rolling. Everyday that "BALL" is picking up speed. I reiterate one more time for clarity to our Government Officials, if you fail to stand by RON PAUL and these companion bills to AUDIT THE FEDERAL RESERVE, the AMERICAN PEOPLE will know your position, and your presumption of complicity in allowing these unlawful and illegal practices will have been resolved. MAY GOD BLESS AMERICA AND HER PEOPLE, THOSE THAT HAVE LOVE, TRUTH, HONOR, AND JUSTICE IN THEIR HEARTS. AMEN.

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  3. Albert Olofsson

    The American people WILL oust the Bankster parasites, there is not much doubt about that. Regardless wither Internet is subject for fraudulent Government or even worse, corporate censure, or not, too many knows too much by now and the liberation progress is irreversible.

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  4. The Federal Reserve system must be abolished. It has failed and is causing even bigger problems than before 1913! What a joke! It only serves international bankers, the new American aristocracy. Even better than the old European aristocracy, it can never go bust, they'll simply get bailed out by the Federal Reserve System.. Who's actually suffering now, who's out of work? - the average American. What are bankers getting? - even higher salaries and bonuses. Just abolish this chaos and put monetary policy under authority of the US Treasury... Here's hoping...

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  5. IF WE AMERICANS CAN'T AUDIT THE FEDERAL RESERVE{AFTER ALLITS OUR MONEY!}...THEN LETS REPEAL THE FEDERAL RESERVE ACT OF 1913!.......LETS "THROW THE MONEYCHANGERS FROM OUR TEMPLE" AND GET OUR FREEDOM BACK!

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