59 responses to “Rising prices and a weak economy? It’s a very real possibility, says Ron Paul.”

  1. vyzqhnr
  2. Herewe Goagain

    Government Suspends ‘Clunkers’ Program After Only One Week
    Seems they were overwhelmed, administratively.

    Wonder how they would handle administrating health care for 300,000,000+.

    »crosslinked«

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  3. Herewe Goagain

    Tough Times

    Four of the most powerful business leaders in America arrived at the White House one day last month for lunch with President Barack Obama, sitting down in his private dining room just steps from the Oval Office.

    But even for powerful CEOs, there’s no such thing as a free lunch: White House staffers collected credit card numbers for each executive and carefully billed them for the cost of the meal with the president.

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  4. stojan nenadovic

    Non-Federal Non-Reserve, Formula is not wrong. Money IS demand is not non-credit money demand. Non-credit money is gift for pensions as demand.

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  5. Christine

    Hyperinfaltion Nation
    http://www.nia.us – How to Prepare for Hyperinflation

    Part I, II, III
    http://www.youtube.com/watch?v=SzmYI_4XCbM&feature=related
    http://www.youtube.com/watch?v=vQCCDttLhA4&feature=related
    http://www.youtube.com/watch?v=rVcyM2Z4Ego&feature=related

    Peter Schiff – Empire Collapse & Emergence of Asia
    http://www.youtube.com/watch?v=4FvwxXfc7s0&feature=related
    http://www.youtube.com/watch?v=JKPXpZ6hQkY&feature=related
    http://www.youtube.com/watch?v=MshsoCP1zFw&feature=related

    Peter Schiff – We Live In A Fake Economy – Dollar To Fall Like A Stone – Gold To $2,000.00
    http://www.youtube.com/watch?v=MIEpFz2X7QM&feature=related

    “We’re on the edge of a major, major recession.”

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    1. Christine

      Against Our Will, Mr. President
      “Put down that stick, Mr. President.”

      Viewer Discretion is Advised
      http://www.youtube.com/watch?v=77H2w1FA3dA&feature=pyv&ad=3902518749&kw=conservative%20economy&gclid=CJvNnpyV-psCFQk_agodwiag9Q

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  6. VR

    As momentum builds for Ron Paul’s efforts to audit the Fed, a new Gallup poll shows that Americans are turning against the Federal Reserve, with just 30 per cent saying the agency is doing a good job.

    35 per cent rate the job the Fed is doing as “only fair” and 22 per cent say it is doing a “poor” job.

    The contrast compared with when the question was last asked in 2003 is clear. Six years ago, just 5 per cent thought the Fed was doing a “poor” job, while 53% thought it was doing a “good/excellent” job.

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  7. Sean

    thats a good catch phrase.. “as long as a shilling will be lent.”

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  8. Nate Y

    It’s quite comical that, after throughly abusing The Constitution with your language games, you’re now attepmting to debauch on The Articles of Confederation.

    Do you not even realize that The Articles of Confederation establish an even MORE limited government? Under the Articles of Confederation, the Congress didn’t even have the ability to tax. Congress had to request money from the States.

    Here’s a section of interest:

    “The United States in Congress assembled shall never engage in a war, nor grant letters of marque or reprisal in time of peace, nor enter into any treaties or alliances, nor coin money, nor regulate the value thereof, nor ascertain the sums and expenses necessary for the defense and welfare of the United States, or any of them, nor emit bills, nor borrow money on the credit of the United States, nor appropriate money…”
    -The Articles of Confederation

    It is true that the Continental Congress began issuing paper currency or bills of credit to help finance the Revolutionary war. They were known as “Continentals” and had no solid backing. As a result, they quickly depreciated in value and became essentially worthless, prompting the phrase “not worth a Continental”. Seeing the horrors of unbacked paper currency prompted the delegates at the Constitutional Convention to include the gold and silver clause in The Constitution. Unfortunately, we have abandoned their good sense.

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    1. Sean

      hahahahahahahahahahahahahahahahaha!!!!!!!
      you didn’t finish the quote!!!! CAN YOU READ? Damn you are stupid!

      The United States in Congress assembled shall never engage in a war, nor grant letters of marque or reprisal in time of peace, nor enter into any treaties or alliances, nor coin money, nor regulate the value thereof, nor ascertain the sums and expenses necessary for the defense and welfare of the United States, or any of them, nor emit bills, nor borrow money on the credit of the United States, nor appropriate money, nor agree upon the number of vessels of war, to be built or purchased, or the number of land or sea forces to be raised, nor appoint a commander in chief of the army or navy, UNLESS NINE STATES ASSENT TO THE SAME; NOR SHALL A QUESTION ON ANY OTHER POINT,EXCEPT FOR THE ADJOURNING FROM DAY TO DAY BE DETERMINED, UNLESS BY THE VOTE OF THE MAJORITY OF THE UNITED STATES IN CONGRESS ASSEMBLED.

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      1. Sean

        thank you for helping me prove my point. good job, a round of applause.

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        1. Nate Y

          What on earth? The continuation of the passage does nothing to invalidate my point and support yours. You’re delusional.

          How about you go respond to some other people’s comments on this site? There are plenty of people who share my sentiments. They are calling for the audit/abolition of the Fed, the restoration of commodity money, renewed respect for The Constitution, free market healthcare, and so on. Respond to their posts. I’ve grown tired of your antics…again.

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          1. Sean

            James Madison – author of the constitution.

            “The present Congress can make requisitions to any amount they please, and the States are constitutionally bound to furnish them; they can emit bills of credit as long as they will pay for the paper; they can borrow, both abroad and at home, as long as a shilling will be lent.”

            -The Federalist Papers.

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      2. Herewe Goagain

        SLMFAO

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      3. Non-Federal Non-Reserve

        That’s right, they had to request all those things from the STATES. Nate’s point not invalidated. Nate’s point: “Do you not even realize that The Articles of Confederation establish an even MORE limited government? Under the Articles of Confederation, the Congress didn’t even have the ability to tax. Congress had to request money from the States.”

        If Congress had to request all those things from the STATES, then that just proves the point. Go away.

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        1. Sean

          haha you go away.

          it says the states ARE CONSTITUTIONALY BOUND to pay them. We can borrow from at home or abroad.

          We borrow a lot of money from abroad.

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          1. Sean

            That wasn’t the point nate was trying to make. Actually, that is the exact point I made in the comment before.

            “as long as a shilling will be lent.”

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          2. Sean

            emitting bills of credit and requiring money from the states are two totally different things. the congress has the right to do both.

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          3. Non-Federal Non-Reserve

            They’re “bound”? Only if they BIND THEMSELVES. What do you think “UNLESS NINE STATES ASSENT TO THE SAME” means (there were only 13 states at the time).

            Reading Comprehension for Dummies like you: that means Congress COULDN’T DO SHIT under the Articles of Confederation unless NINE OUT OF THIRTEEN STATES approved of it.

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          4. Sean

            So what. If 9 states or the majority or however many accept a fiat currency, than it is constituional and the congress is allowed regulate it.

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  9. Herewe Goagain

    About 80% of the derivative assets and liabilities carried on the balance sheets of 100 companies reviewed by Fitch were held by five banks: JP Morgan Chase, Bank of America, Goldman Sachs, Citigroup, and Morgan Stanley.

    Those five banks also account for more than 96% of the companies’ exposure to credit derivatives.

    http://www.cfo.com/article.cfm/14113089/?f=rsspage

    That Boat Won’t Float

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  10. Herewe Goagain

    As I go from one Sean post to the next, I am reminded of an old Billy Preston song.
    http://www.rhapsody.com/ringo-starr/the-anthology-so-far/will-it-go-round-in-circles-billy-preston/lyrics.html

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    1. Nate Y

      I’m curious, am I making proper arguments against his nonsense? I know it’s beyond hope to change the man’s mind but for some reason, I can’t let him pollute these boards uncontested.

      I know it’s not a good idea to feed trolls. Should I just ignore his posts? Your input would be appreciated.

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      1. Herewe Goagain

        I see his role as more carnival sideshow than troll.
        I guess how, or whether, one reacts to him would depend on their mood that day.

        Mostly, his arguments and his sources are his own greatest enemy. But it is a bit of devlish fun to kick him around.

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      2. sean

        “— to borrow money, or emit bills on the credit of the United States, transmitting every half-year to the respective States an account of the sums of money so borrowed or emitted — to build and equip a navy — to agree upon the number of land forces, and to make requisitions from each State for its quota, in proportion to the number of white inhabitants in such State; which requisition shall be binding, and thereupon the legislature of each State shall appoint the regimental officers, raise the men and cloath, arm and equip them in a solid- like manner, at the expense of the United States.”

        from the Articles of confederation.. If you even know what that is. It was the first constitution written.. In the federalist papers, they say that the same laws were transfered to the new constitution. Your stupid word games wont change the meaning written in it’s original sense, into the original constitution..

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        1. sean

          That’s what I thought. haha

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      3. Herewe Goagain

        When he starts replying to his own replies, it’s over.

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        1. sean

          haha, ya its over, I win. Nate wanted some information about bills of credit from the constitution and i gave it to him.

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          1. Herewe Goagain

            okay sean, that makes you the winner.

            lmfao

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          2. Nate Y

            No you haven’t.

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        2. Nate Y

          hahaha yeah. It’s a very strange habit.

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          1. Sean

            I did just quote the orignal constitution from 1776 about allowing bills of credit at the expense of the United States. The rewritten constitution gave the congress MORE power, not less. It gave them the power to regulate commerce.

            Your interpretation of the constitution is WRONG according to the author.

            You have a strange habbit of relying on your ignorance for the main source for all your arguments.

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  11. Nate Y

    If one wants to make Bible analogies (which I don’t think is a good idea in general), it is much more accurate to say that the Constitution is the Bible and the Bill of Rights is the 10 Commandments. The Federalist Papers are analogous to the musings of important figures like Augustine or Aquinas but hold no ultimate authority.

    Your Hamilton quote from the Federalist Papers doesn’t even argue that Congress should have the power to create paper money. It merely says that Congress can allow the States to do so. However, being that it appears in the Federalist Papers, it bears no legal authority. Legal authority is reserved for the Constitution.

    The rights of the people and the powers granted to government are outlined in the Constitution, not in the Federalist Papers. The Constitution is the law of the land. The Federalist Papers are not.

    Still waiting for you to post the article or clause in the CONSTITUTION where it states that Congress can create paper money.

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    1. sean

      No, you are wrong. It shows that congress has the authority to create money and that the individual states cannot create money unless it is of gold or silver due to incompatible trade within the states.

      You obviously don’t know anything if you don’t know that the federalist papers were written by the authors of the constitution explaining the philosophy put into it. The bible is a book of philosophy, not the constitution itself. You are so dumb founded.

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      1. sean

        The congress can use any measure to create money. I have already quoted this from the CONSTITUTION and proved u wrong.

        Where does it say in the constitution that the congress has to print money of gold and silver? It doesn’t. It does say that the states cannot print money but of gold and silver as I have already explained. If you don’t read the federalist papers and understand the philosophy of government, than you are as ignorant as a foreigner.

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        1. sean

          “The imposition of duties on imported articles, and the emission of paper money, are specimens of each kind. No man of sense will believe, that such prohibitions would be scrupulously regarded, without some effectual power in the government to restrain or correct the infractions of them.”
          James Madison- “Father of the Constitution”

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          1. sean

            “James Madison[1] (March 16, 1751 – June 28, 1836) was an American politician and political philosopher who served as the fourth President of the United States (1809–1817), and one of the Founding Fathers of the United States. Considered to be the “Father of the Constitution”, he was the principal author of the document. In 1788, he wrote over a third of the Federalist Papers, still the most influential commentary on the Constitution.” – Wikipedia

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        2. Nate Y

          Appreciate how absurd your argument is. You’re saying that the document meant (among other things) to limit the powers of government (particularly the Federal Government) actually grants limitless power to the Federal Governemnt in the realm of money creation. The argument destroys itself.

          No matter how hard you attempt to twist the words, Congress is not granted the power to create paper money under the Constitution. Under the Constitution, money is to be gold/silver.

          One can print paper. One cannot print gold/silver. One cannot coin paper. However, one can coin gold and silver. Learn to use the proper verbs.

          Let’s consult the Constitution dirctly again shall we?
          Specifically part of Article 1 Section 8 which you posted earlier…

          “Congress shall have Power…To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”

          This means exactly what it says. Congress can COIN money. Coin meaning “make coins out of gold/silver”. Regulate the value thereof, and of foreign coin means “X amount of gold/silver = a dollar; X amount of gold/silver = a pound”, etc. Dollars, Francs, Pounds, etc. are supposed to be (as they originally were) specific measurements of weight of gold/silver. Just like inches and centimeters are specific measurments of length.

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          1. sean

            HAHAHA!! You are trying to throw out a bone. Coining money is another term used for creating money. I have a bucket full of coins at home.

            You know nothing about the philosophy of our government if you have not read the Federalist Papers. They wanted a large government to protect corruption from within, a strong government to protect property and civil rights, and central powers to regulate commerce and money.

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          2. sean

            Articles of Confederation: Which the constitution was modeled after..

            “— to borrow money, or emit bills on the credit of the United States, transmitting every half-year to the respective States an account of the sums of money so borrowed or emitted — to build and equip a navy — to agree upon the number of land forces, and to make requisitions from each State for its quota, in proportion to the number of white inhabitants in such State; which requisition shall be binding, and thereupon the legislature of each State shall appoint the regimental officers, raise the men and cloath, arm and equip them in a solid- like manner, at the expense of the United States.”

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        3. Herewe Goagain

          Definition of Coining

          n. conversion of metal into coin; act of stamping coins; invention of a new word or phrase

          v. make coins out of metal, mint; invent a new word or phrase

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          1. sean

            I have copper pennies and nickel coins which are a type of metal.

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          2. Herewe Goagain

            Which does nothing to strengthen your argument on what was meant by coining.

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          3. sean

            coining money- piece of metal, usually a disk of gold, silver, nickel, bronze, copper, aluminum, or a combination of such metals, stamped by authority of a government as a guarantee of its real or exchange value and used as money.

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  12. stojan nenadovic

    Supply is greater than demand. Congress must creates new money as gift for consumers which augment demand.

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    1. Nate Y

      It appears I didn’t ask the question plainly enough or you are unwilling to provide an answer. Either way, time to move on.

      Cheers

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      1. Sean

        The constitution gives the congress the authority to coin money.

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        1. Sean

          If you would actually read the federalist papers and the constitution, you would know that the congress has the power to create paper money, but not the states. The states can only make money of gold and silver.

          James Madison “Father of the constitution” in his letters say that paper money is holds lots of guilt and will eventually wear itself out. He prohibits the states to use paper money because..

          “Had every State a right to regulate the value of its coin, there might be as many different currencies as states, and thus the intercourse among them would be impeded; retrospective alterations in its value might be made, and thus the citizen of other states be injured, and animosities be kindled among the states themselves.”
          -James Madison

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          1. Sean

            Section 8 – Powers of Congress

            To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

            Section 10 – Powers prohibited of States

            No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts;

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        2. Nate Y

          Indeed. To COIN money. Not to produce formula based debt free paper money. And according to the Constitution, as you already point out (contradicting yourself), those coins are to be gold and silver (which nicely explains the “fix a Standard of Weights and Measures” clause).

          Go ahead and cite the article or clause in the Constitution which gives Congress the power to emit bills of credit. How about this…until you find it, you won’t post on this site anymore. Deal?

          Remember, the way the Constitution is written, if a power isn’t explicitly granted to the Federal Government by the Constitution, then it is forbidden from the Federal Government and belongs to the States/people.

          Seriously dude, ask yourself this question: If James Madison would write at length about the dangers of paper money in the hands of the States, why in the hell would he want such a power granted to the Federal Government? Especially when he was a proponent of DEcentralized power.

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          1. Sean

            “No state can emit paper money — lay any duties, or imposts, on imports, or exports, but by consent of the Congress; and then the net produce shall be for the benefit of the United States: the only mean therefore left, for any state to support its government and discharge its debts, is by direct taxation; and the United States have also power to lay and collect taxes, in any way they please.” Article 1: Federalist Papers, Alexander Hamilton

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          2. Sean

            The constitution is like the ten commandments and the federalist papers are like the bible. I suggest you read.

            How about Federalist No.45 where James Madison explains the powers that the government have over the states where he says he could not imagine prohibiting paper money and the government would win over the states.

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          3. longshotlouie

            Yet again, Sean, you seem to have some trouble comprehending what you read.

            Blame it in the Look/See method of learning to read.

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          4. sean

            “The powers relating to war and peace, armies and fleets, treaties and finance, with the other more considerable powers, are all vested in the existing Congress by the articles of Confederation. The proposed change does not enlarge these powers; it only substitutes a more effectual mode of administering them. The change relating to taxation may be regarded as the most important; and yet the present Congress have as complete authority to REQUIRE of the States indefinite supplies of money for the common defense and general welfare, as the future Congress will have to require them of individual citizens;”
            -James Madison “Father of the Constitution”

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  13. stojan nenadovic

    This formula creates the only sound real money.

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    1. Nate Y

      I’m not asking about the formula. I am asking about the people charged with using it under your scenario.

      Please answer my question, what’s to keep Congress from abusing this formula? It’s already easy enough for government to manipulate unemployment, GDP, CPI, etc. what would keep them from misrepresenting “all supply and all demand” to fit desired wants? Nothing I can see.

      Have you read Web of Debt by Ellen Brown? Your solution is quite similar to the “Greenback Solution” she endorses.

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  14. stojan nenadovic

    Non-credit money as gift is better than gold. Non-credit money can solve this crisis. Non-credit money is the necessary additional quantity of money in circulation (dM) as percentage (k) of existing quantity of money in circulation (M). dM = kM ; k = (supply – demand)/demand ; If non-credit money is emitted according to the cited formula, inflation cannot exist. Also, taxes are annulled for the amount of non-credit money. The consumers pay less and producers get more than today, in the order of credit money. All get the gift from non-credit money. Without inflaton. Without Federal Reserve. Congress must create new money as non-credit money, according to the cited formula.

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    1. Nate Y

      Yeah this won’t work. What’s to keep Congress from abusing this formula based fiat currency?

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    2. Non-Federal Non-Reserve

      A change in the supply of “non-credit money” affects supply and demand too, because that money IS demand. So as soon as you create the “non-credit money”, your formula is wrong. Not that it would work anyway.

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