326 responses to “Fed Audit Will Show What They’re Hiding”

  1. JCDP

    @Douglas: “The true power of the people is within education, understanding and practical comprehension.” Roger that. How do you suggest we reach “critical mass” of a population with that capability, when we have a weak public school system and families whos parents seem so caught up in the rat race that they neglect their kids? In my book, that is a greater task than reversing the trade deficit. But that´s another discussion….

    »crosslinked«

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    1. Doulgas

      Yes Sir. I am very troubled and have many spouts of anxiety over this. The answer is in understanding the rise and fall of previous civilizations. This is the key for though’s who want to populate the new civilization that will be born after this one bites the dust. The new one is the work of divine conspiracy.

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  2. Doulgas

    Understanding how constitutional monetary policy would have changed the outcome of the past 100 years of industrial and service industry would teach you why most of the population is running in a spinning cage like a rat to keep things going. In other words, if the US Government was constitutionally running a medium of exchange there would never be periods of deflation or inflation, cut throat competition, freed trade, natural resource abuse, massive waist dumps; over population or terrorism.

    Sadly, all these things that have come to pass are simple unconstitutional stumbling blocks. Implementing sound constitutional money would require a Great Reconciliation and a highly educated population. To bad the public school system has be modified by the share holders of the Feds through bogus foundations.

    The true power of the people is within education, understanding and practical comprehension. America has become immobilized by ludicrous monetary policies that resulted in the destruction of US manufacturing, innovation and sustainability.

    Yea, the Government will send in the FBI, CIA and SWAT to confiscate all corruption corporations without a flinch. But to get a descent audit from the Feds they become chicken shit. Because they know the Feds own them, their country and the World Government. Perhaps China and Russia know this too?

    So what game do they play with the World Gov?

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  3. JCDP

    I hear you again Sean! We (you and I) may actually be able to reach some kind of common ground. You seem to be saying that we have to invent the technology to replace oil addiction BEFORE we drop the current monetary system, correct? I agree with you about the time frame, it´d take about a decade. OK, I argue that dropping the system will force/enhance the creative process and “keep us honest”. So now our discussion has turned into a chicken or egg thing. We can stop discussing as long as we are in agreement that what the Fed represents is detrimental to the country long term. Again, I believe this is why Ron Paul advocates scrapping the whole darned thing.

    @Peter: Nice post!

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  4. Christine

    Sean, consider spending your time making a bunch of youtube videos explaining your beliefs and understandings. We could then do a search to find them, watch the “views count” for popularity and read the comments below each video.

    We are a much smaller audience. I think you’ve advanced to the level that requires a much broader group that can give you all the attention you require.

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    1. Nate Y

      You speak much too kindly.

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    2. Peter

      Amen

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    3. Christine

      You have to be smarter than the cat.

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      1. longshotlouie

        Heheheheheehee, love it

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  5. Peter

    You see, this is what frightens me the most.The possible handing over of all of our Gold. I’m concerned that the current Fed strategy is going to lead to this anyway.

    China may demand all of our Gold in Fort Knox.But I seriously doubt that any President would abide by any demands for gold since it could be considered a threat to National Security.

    I guess it could happen but only if:

    a) we were to go default on interrest payments to China. (unlikely)

    b) we were to continue deficit spending (unlikely)

    c) we were to continue bailing out private industry and China were to lose confidence in our ablity to pay them back (we can longer afford it)

    d) the dollar would lose complete value ($0.00)

    Think about it: “Shut down the Fed and China could demand all of our Gold” – Sean

    “Keep printing and devaluing the dollar to the point of $0.00 value and they will demand it anyway.” – Peter

    So what in God’s name do we have to lose?

    As you say, “look at history.” Well I’m looking Sean. And I’ve noticed that the value of the dollar has been on a steady decline. Some occasional highs here and there but still a steady decline and it’s not going back up unless,….unless,…what? That is the Trillion Dollar question isn’t it?.(pun intended)

    What could possibly increase the value of the dollar other than a complete 180 degree about face towards a more solid currency? “Historically” The Fed does’nt seem to want to do this. Or more than likely CAN”T do this. Why? Probably because of the very thing that Bernanke is claiming would happen with an Audit. Political Pressure from Presidents. That’s why.

    Something has to give. Spending or Printing? Spending or printing?So what’s it gonna be?

    The Federal Reserve, with all of it’s advantages, it’s history, it’s maneuvering and power is losing control.It may have served a sound purpose long ago not today. With Washington’s ever growing power and out of control spending a whirlpool is being created. And it’s dragging everything within reach down with it.

    And if and when (God forbid) the value of the dollar is $0.00. Then what? Our Central Banking system will be rendered powerless. Print more useless paper? What then?

    If we switch over to a new foreign currency that’s being printed by some off shore entity THEY will become the new Fed.And now we(America)will no longer be in control of monetary policy.

    Talk about winning a war against America without even firing a shot. This is it.

    Thanks for the reply.

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    1. anarchist

      Peter:

      I hate to break the bad news, but it is highly doubtful
      that there is any gold held by the U.S. government.
      There has not been an audit of the gold in this country
      since 1954 under Eisenhower. The U.S. mint recently
      ran out of gold blanks needed to strike gold coins (coins
      for collectors), and had to suspend striking gold coins.
      Ron Paul has said in an interview I saw, that it is very
      doubtful that there is any gold left. It has been
      speculated that the Federal Reserve has moved it to
      European central banks. This has all happened while
      the American sheeple were not paying any attention. It
      appears now that the people are finally waking up; but
      I hope it is not too late!

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      1. longshotlouie

        Just give us an accounting. All options are on the table.

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  6. JCDP

    Turn the criminals at the Fed over to the chinese and japanese…. Wouldn´t that be a sight….

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  7. Stewart

    Point 1:
    The Bakken Formation in North Dakota is just one region that holds vast amounts of oil, plenty of oil to get us off of Mid-eastern oil. The corporatists that run the U.S. would rather make money with oil AND bombs, keeping oil a precious commodity.
    Point 2:
    The average citizen is not indebted to China. The criminals in the Federal Reserve along with their co-conspirators in the federal government, have been operating outside of the law, and are thus solely responsible for these thefts. Americans need to simply turn them over to the Chinese/Japanese to answer for their crimes.
    Point 3:
    Show up at your congressman’s next “town hall” meeting. Organized labor and the socialist/progressives are gearing up to silence you.

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    1. sean

      The protests at town halls are about oil addiction and our trade deficit? I wish, that would silence me.

      The protests at town halls are about health care which has nothing to do with what we are talking about.

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      1. longshotlouie

        Thanks for the MSM version of the town hall meetings.
        You can be commended for not playing the race card.

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      2. Ross

        More Cyber clutter Sean? Why are your posts so prolific? Don’t you have a real job? In the depravity of your avarice,do you not see that our wealth is in our common humanity,and not in the illusion of inflationary Fed money.

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  8. T. Hammer

    @Amen,

    Your #8 sounds like what Ron Paul is stating in the video. If the Fed is doing nothing wrong at all, then it doesn’t matter what is on their books. They need to be transparent to congress and the people. If the Fed doesn’t have to answer to the Congress, which is elected by the people, then that is saying that the Fed has to answer to no one. Common sense dictates that secrecy breeds corruption.

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  9. JCDP

    “His plan will cause harm to other parts of the economy, once our money starts to dwindle” Initially yes, but that is the cost of correcting the mess. Like anything in lifem the correction comes at a price.

    Ridding us of the depenecy of foreign oil: R&D in alternative energy. Again, this is not an overnight answer, but it will generate real jobs in the process while supplementing the domestic output of oil. (R&D won´t supplement oil, the results of these efforts will)

    When I say you suggest spending, it is because you seem to be saying that we have to stick with the Fed. The Fed supports spending, or am I wrong? Again, the Fed´s failed policies is what got us in this mess.

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    1. sean

      Government trade policies have contributed a great deal to our deficit. The Fed is the government’s puppet money machine supporting our oil addiction.

      It will take at least ten years to make a switch off oil and rid us of our addiction. Why put our economy into shock with a much larger unemployment rate for 10 years, when we can let the system work for a little bit longer so we can accomplish what needs to be done. We have thousands of scientists working on the problem right now.. We are going to have to change our whole economy before we change our financial system.. Our financial system is designed to fit our economy, not the other way around.

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      1. sean

        I think the reason why ron paul doesn’t talk about our oil addiction is because he knows it will take the government to stop it.

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      2. Nate Y

        Our financial system is a vampire sucking the blood from our economy.

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        1. sean

          No. Our trade deficit is a huge cut that is losing blood. The fed are like white blood cells trying to heal the cut and supplying our body with more blood.

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  10. JCDP

    Ron Paul focuses on the big picture. Change the system and the defict corrects itself. Your suggestion implies that we just keep on doing more of the same and dig ourselves a deeper hole. I still can´t get my head around that you think we can SPEND our way out of this mess. The math doesn´t add up….

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    1. sean

      I never said we can SPEND our way out of this mess. I said we have to STOP SPENDING money on oil and foreign goods. Ron Paul’s plan is not going to rid us of our DEPENDENCE on foreign oil. His plan will cause harm to other parts of the economy, once our money supply starts to dwindle.

      I support Ron Paul and the whole philosophy of limited government and sound money. I’m just trying to be real.

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  11. Amen

    Ha sean you have not read the KJV Bible.David a man after Gods own heart was a murderer and adulterer.Paul was a man of God and look what he was guilty of.Peter denied Christ and yet went on to be a God called Apostle and the 12 were called sons of thunder because they were men of God with an attitude.

    Moses killed an egyption and Solomon had over 700 wives and yet was the wisest man in the OT that ever lived.Noone is perfect and God in Christ saves through faith and not of anyones good works {Eph 2:8-9}.

    No faith in Christ for salvation means a road to hell.

    Yet in 43 years my Saviour has never failed me once.

    Amen.

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    1. sean

      That means you have never failed yourself. God doesn’t tell you to wake up every morning and brush your teeth.

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  12. Amen

    Sean you can mock Christ all you want.I have witnessed the power of God through Christ like money blessings and healings and mass deliverance and demons cast out when every other name as a test failed.

    You need to get saved or face the fires of eternity and being a JEW means nothing except there will be more JEWS in hell than gentiles.

    Amen.

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    1. sean

      1. You are definitely not a Christian with that mouth, and if god was real, he would be disappointed with your choice of words.

      2. You didn’t witness the power of God. You witnessed the power of life.

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  13. Amen

    Yes earth google shows sean as the bald bastard Barnanke pretending to be someone named sean.

    You sorry shit.

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  14. JCDP

    I hear you. I wasn´t suggesting forcing anyone to do anything. It´s a matter of choice if people see that there is a better alternative. Admittedly we are creatures of habit, but habits change if there is no other alternative, and I hope that habits change once people can intellectually comprehend that the path they are on is wrong. You can´t spend more than you have for ever. You wind up in the mess the US is in, and as longshotlouis rightfully said, you can´t SPEND yourself out of debt. That defies logic, or? Can you really not see that? The system that is in place with the Fed suggests we do just that.

    @Amen. I get your drift even if you do exaggerate a tad…;-)

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    1. sean

      You bring up a good point. Why do you think ron paul never talks about the trade deficit even though its just as large as the national deficit? It seems like he is ignoring and diverting the problems, just like every other member in congress.. Maybe bc the problems are too big, but how are we going to wake up when nobody speaks of it?

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      1. Nate Y

        Hmm…must be some type of conspiracy.

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  15. Amen

    Sean you will find out if Gods a fake when you die.

    Also what are you doing by whining about the trade deficit?

    Focusing on the trade deficit as the supposedly major problem of the US economy only diverts the attention from the real culprit, which is the US central bank.

    Sean what is the US Central bank?

    You goof ball.

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    1. sean

      Its funny how every religion plagiarizes the first original Egyptian religion.

      We are dependent on the central bank because we are dependent on foreign oil. It is plain and simple, for all those besides fake Christians.

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      1. sean

        Horus 10,000 BEFORE CHRIST

        Conception:
        Horus: By a virgin. There is some doubt about this matter.
        Jesus: By a virgin.

        Father:
        Horus: Only begotten son of the God Osiris.
        Jesus: Only begotten son of Yehovah (in the form of the Holy Spirit).

        Mother:
        Horus: Meri.
        Jesus: Miriam (a.k.a. Mary).

        Foster father:
        Horus: Seb, (Jo-Seph).
        Jesus: Joseph.

        Foster father’s ancestry:
        Horus: Of royal descent.
        Jesus: Of royal descent.

        Birth location:
        Horus: In a cave.
        Jesus: In a cave or stable.

        Birth heralded by:
        Horus: The star Sirius, the morning star.
        Jesus: An unidentified “star in the East.”

        Method of death:
        Horus: By crucifixion.
        Jesus: By crucifixion.

        Accompanied by:
        Horus: Two thieves.
        Jesus: Two thieves.

        and much much much much more….

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  16. JCDP

    Sean! I´m back! So you´re not for the Fed? Could have fooled me.

    Dealing with the trade deficit means start living within your means. I´m not naive enough to think this is done in 1 or 2 years, but put a system in place that forces people, companies and organizations to live inside their means and the transformation starts to happen. That´s what Ron Paul is suggesting. Pegging currency to the amount of Gold and Silver a country has, and you force it to live within its means. Put a debt driven system in place and all sorts of problems happen. We are living that reality today. That´s the point. Yes the mess is hard to reverse, but surely you don´t think the remedy is more of the same?

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    1. sean

      You can’t force us to stop buying oil and expect that we can drive to work everyday.

      If we wanted to start producing more, we should make it cheaper to produce here than elsewhere. We still wont be able to export as much as 10 million barrels of oil that we import every single day.. I can’t even imagine how many ships or freight carts it would take to transport 10 million barrels every day.

      I’m not for the fed at all. I’ll defend some of their actions, but I would much rather have it done correctly. By correctly I mean, stop importing goods and start living lower standards of living.

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      1. Nate Y

        As a result of the current system, a lower standard of living will be imposed on the majority of Americans while the political class will enjoy extraordinary wealth. This is always the result when power comes to be concentrated in the hands of a few.

        Keep hoping for the right philospher kings to find their way into the fed.

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        1. sean

          actually, the fed props up the living standards of our whole country. The fed is the reason why we can import oil and cheap goods.. For some reason you are for importing oil and cheap goods, but against the fed. I think you are a confused little puppy.

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  17. sean

    haha no, i’m not for the fed. God is a fake by the way.

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    1. Nate Y

      Don’t lie. You are for a system that can simply print money to pay for oil and other goods. The Federal Reserve System is such a system.

      Also, you have one more god to slay before you can call yourself an atheist. You call this god “The State”.

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      1. sean

        OKay, i’ve been sitting here explaining what we should do to live within our means and stop importing oil so we can get rid of the fed… I think you are the liar.

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        1. Nate Y

          No you haven’t. In some posts you argue that we HAVE to keep printing money to pay for oil. Other times you state that we should stop importing oil and start living within our means. We’ll ignore the contradiction for a second and say you agree with us here that the US must live within its means. Good.

          However, you do not propose any monetary method of achieving this noble end. If we stay with the current system (Deficit financing and fiat currency) we will not guide ourselves back to living within our means. If we keep doing what we’ve been doing, we will eventually have a currency crisis.

          You argue that once we have our house in order we can transistion to sound money. But this is backwards.

          If we make our way back to sound money, it will give us the means to put our fiscal/monetary house in order.

          It’s interesting to note that although you don’t believe in any god(s), you believe in the fairytales of fiat currencies and centrally planned economies.

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        2. sean

          We can’t just stop printing money because we have to pay for oil. We should find ways around oil and stop importing it. I’m sorry if that confused you.

          How will sound money help rid us of our oil dependence? Please explain.
          You need to improve your critical thinking. You can’t just say something will lead to something without knowing how.

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        3. Nate Y

          “We can’t just stop printing money because we have to pay for oil.”

          Here is a perfect example of your economic ignorance. Printed fiat bills of credit (Federal Reserve Notes called “dollars”) do not pay for imports (oil in this case). Imports are ultimately paid for by exports. Learn some basic economics.

          Moving on, you have (perhaps unwittingly) strawmanned the argument. The argumment is not “Sound money will rid us of our oil dependence”, rather, the argument is “sound money will reduce the trade deficit over time”. This is because sound money cannot be printed into existence. Unlike the current system of fiat currency which you claim we need to “let work a little longer”. If giant bubbles, enormous trade deficits, and an ever widening gap between the rich and poor is what you define as “working”, well then the current system works quite well.

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  18. Nate Y

    I’m very happy to see other posters refusing to let sean get away with his abuse of language and reason. I find his strawmanning of arguments to be the most annoying tactic he employs.

    Reason has been tried. Time for ridicule.

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    1. sean

      i’m very disappointed to not see you explain how we can manage with a trade deficit.

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  19. JCDP

    Keep your wits around you Sean. Reversing a negative trade deficit is doeable. What Ron Paul is suggesting is biting the bullet now, so that the US gets back on a level playing field and then learns to live within its means. That´s just palin old common sense. The Fed is an elaborate plan to keep trigger happy gamblers (major banks and investmant firms) happy.

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    1. sean

      We aren’t going to just start living within our means. Our cities are built upon oil consumption.

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  20. longshotlouie

    People Paying Their Bills

    OOOOOOOOOOOOOOOOH, The Humanity !!

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  21. JCDP

    Impossible is nothing my friend. It might be a task, and it might not happen overnight….

    So the dependence on foreign resources and goods is the enemy in your mind then, yeah?. Do you think the US can´t produce enough domestically to reverse the balance? Lift your eyes from the 8 trillion dollar debt for a minute and ask yourself what the character of the US is.

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    1. sean

      I don’t think we can produce enough domestically to reverse the balance because it is cheaper in other countries. That is where our production went to. Free trade makes it cheaper to produce elsewhere.

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  22. JCDP

    C´mon now Sean. Don´t YOU start arguing now….!

    Ron Paul thinks the US can beat the world in a free market economy without the crutch of the Fed. That´s his point!! He seems to have more faith in the country than you do… Aw, look at that… I´ve started arguing too…;-))

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    1. sean

      It’s impossible. We have had an 8 trillion dollar trade deficit bc of oil and other goods we depend on. You can’t have a hard currency and give away 8 trillion dollars, it just wont work. It’s funny how I look like the bad guy whenever I point out ADDITIONAL problems to our economy.

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      1. longshotlouie

        Did someone say to pay off the entire debt on Day 1?

        More of your extremely laughable fear-mongering.
        B. S. Bernanke would be soooooooo proud.

        [Hail Obama]

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        1. sean

          It’s funny how I look like the bad guy whenever I point out ADDITIONAL problems to our economy, just because you don’t have a full understanding.

          How will you pay back debt? We are 11 trillion dollars in debt. There isn’t even 11 trillion dollars in the economy. We would have to stop importing oil first, pay off the debt, and THEN move to a hard currency.

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      2. longshotlouie

        Since you are representing the problem (The FED), I suggest that while you point that finger that you should note where the rest of your fingers are pointing. We don’t even let our children pull that shit.

        Can I get an autographed poster of Ignorant Traitorous Marxist Bastard Comrade Sean?

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        1. sean

          good way to avoid my question.. Again, how can we pay off an 11 trillion dollar debt without printing money when we don’t have close to 11 trillion dollars?

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          1. Peter

            What exactly is our current GNP?

            Somehow we had a balanced budget just 10 years ago. And our deficit was far less than it is now.

            There has to be a way to pay off the deficit.

            First,try cutting spending tremendously. Close most all U.S. Military bases throughout the world except for the ones most needed.

            2nd,immediately remove any tariffs or taxes that suffocate domestic production of oil. My family suffered first hand when the U.S. Goverment passed a tax to prevent any production of oil more than a barrel a day back in the late 60′s. We, as many others, went from riches to rags.

            Imagine that? The U.S. Government deliberately shutting down domestic production of oil. Which resulted in the loss of thousands of jobs,lowering the economy and empowering our enemies.

            3rd NO MORE BAIL OUTS. We could have knocked off a good Trillion on our deficit had we not bailed out banks that still are not loaning any money.

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  23. longshotlouie

    Masochist Ignorant Traitorous Marxixt Bastard, Comrade Sean says we must worship the god of Debt. Bend over, nose to knees !!

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  24. JCDP

    Knee high in dung, huh? And too far gone to reverse the trend? How could it have come to this in the name of productivity….

    Man, I admire you sticking to your guns. I don´t agree with you, but I admire your resolve. You´ve taken some flack in here….

    BTW – This is a Ron Pauls site, you know that don´t you? He champions hard currency.

    I´m out.

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    1. sean

      He’s not a champion of international trade.

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      1. longshotlouie

        So Ron Paul is against international trade?
        Are you not embarrassed from being a lying sack of shit?

        [Hail Obama]

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        1. sean

          I never said he was “against’ international trade. You are a dirty low life liar! I said he is no “champion” of international trade. Paul Krugman is, he just won a Nobel prize for mapping out the entire trade spectrum of the world.

          You are an embarrassment to ron paul. You are an embarrassment to yourself. I’m done going around in circles with you like a lost monkey who sits at home all day and jerks off.

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        2. longshotlouie

          Wow, this gets easier every day.

          lmao

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  25. JCDP

    Ok then. How should other countries view the US then? As an example to follow?

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    1. sean

      No, we are struggling to survive, we have to borrow and spend money just to replace money spent overseas on fuel and other goods.

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      1. longshotlouie

        Come On, JCDP. Don’t you get it?
        We’re in debt up to our eyeballs. We have to SPEND our way out of debt!!

        Surely it works that way at your house.

        lmao

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        1. sean

          You are retarded. We have to spend to buy oil and survive. I don’t think paying off debt is in the interest of those who have common sense and see that we cannot live without printing money so we can buy oil.

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          1. longshotlouie

            Wake up, people. Comrade Sean is trying to explain why getting out of debt makes no sense.

            Hail Obama

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          2. sean

            How will we get out of debt? You don’t know, you’re an idiot.

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          3. longshotlouie

            But Comrade Sean, how does anyone get out of debt?

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          4. sean

            Stop buying things. We would have to stop buying oil. Duhhhhh r-r-r-r-retard

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          5. longshotlouie

            You’ve almost convinced me with your extremist, fear-mongering arguments, Comrade Sean.

            .

            .

            .

            .

            .

            Bwahahahahaahahahahaahahaahaaa

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          6. sean

            “we have to stop purchasing oil and live within our means.”

            If you see that as fear mongering, than you are a one wimp.

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  26. JCDP

    So Sean, the US can not perform in a free market economy and build a surplus? It has to be propped up by the Fed? Is that what you´re saying?

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    1. sean

      Yep. We import 10 million+ barrels of oil a day. We have had an 8 trillion dollar trade deficit over the past 25 years.

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      1. longshotlouie

        OMG, then we would have to use our own oil !!
        “oooooooh, The Humanity”

        Hail Obama

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        1. sean

          We don’t have much oil, besides shale oil which is expensive and uses twice as much energy to produce it as the energy that comes from it.

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          1. longshotlouie

            We have more oil than at any time in history, and usage continues to fall here.

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          2. sean

            It’s not possible that we have more oil now than ever before in history. Oil doesn’t “regenerate.” You are an idiot.

            Again, we have lots of shale oil which needs twice as much energy to make than what energy comes from it. Are you really this stupid or are you just arguing?

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          3. longshotlouie

            More than enough evidence to suggest otherwise (No Comrade Sean, I won’t do your research for you).

            Again, we currently possess more oil than any time in history. FACT

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          4. sean

            hahahahahah, you are soooooooooo stupid. I’m done talking to you.

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          5. longshotlouie

            yepper, that’s what I thought.

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          6. Peter

            That’s not exactly true. My late Father was a Petroleum Engineer and a Geologist.

            We have numerous wells “capped off” here in the Gulf of Mexico as well as all across Ameeica.I see them all the time when I’m fishing out in the Gulf. They are everywhere. I use to work on some of them when I was in the Oil Field.

            Alaska has a huge Oil Basin that is 5 times the size of that in the middle east.

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          7. Sean

            We have 20 billion proven reserves. We already produce 10 million barrels on top of the 10 million barrels we import..

            Lets say we just used our own oil..
            20 million a day x 365 days= 7.3 billion barrels a year.. With only 20 billion barrels in proven reserves, we would run out in less than 3 years.

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          8. Sean

            I bet your dad could of told you that peter.

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  27. Ken

    I really don’t know what planet Sean lives on. He says if there is no federal reserve, the banks will have too much power and inflate the currency??? The banks control the federal reserve!! That is the point of the audit. This independence crap that Bernanke is feeding you is pure propaganda. The President appoints his position and the banks control the federal reserve. But the federal reserve is independent of the the banks and the executive branch. Please! He is a presidential appointee!

    The monetary policy is done for the benefit of the banks, not for the people. The way Sean, talks I think he was a banker protecting his turf. Spitzer had it right. It is a big ponzi scheme. The great thing about people getting publicly disgraced is that they are not afraid to speak truth any more. When the Fed gave 80 billion dollars to AIG, it stole from the American public. They printed that money. More currency in circulation means the dollar has less value. So people with savings accounts who live within their means, get artificially low returns and on top of that their accounts might actually lose value, when you take into account the hidden inflation of the purchasing power of that dollar being diluted by the Fed. People who are not accountable, spend like crazy and live beyond their means are constantly rewarded with these artificially low rates being sent by the fed. Until this country wakes up and I believe with the help of Paul it is starting to, the government will stop punishing the people who save, our accountable and don’t need bailouts, and live within their means and stop rewarding bad behavior, which they did with these horrific bailouts the bad and destructive behavior will continue. The people that created this mess have learned nothing and the pattern will happen again, because these businesses were not allowed to fail. The first step is to reduce the deficit. It is not all the Fed’s fault. Deficit spending, was and will continue to be a big contributing factor. Paul has said this countless times. I am thankful that he is fighting for us. If this bill passes, he really should go down in history as one of the great leaders of our time.

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    1. sean

      60% of our countries assets do NOT belong to the federal reserve or banks. It is an entirely different system comprised of investment firms which have NO government oversight or involvement in any way. It has nothing to do with the fed. This is the system that crashed…

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      1. Christine

        Do you understand that whomever controls the money supply, be it in a household or a nation, that they control everything else. If a wife/husband/FED operate in secret withthe checkbook, strategically putting money where they wish, strategically spending or lending money where they wish, they have the ability to control the outcome.

        A former American president gave these investment firms the right to operate without oversight. Collusion in a network that only “uses” Americans and other countries strategically, their investments and their assets as a means to accomplish their goal.

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  28. JCDP

    And after the second great depression, if the US stuck to hard currency principle, what would happen?

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    1. sean

      Foreigners, or speculators again would end up owning a majority of our money forcing us off of a hard currency. WHy? Because we would continue buying oil and other goods.

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      1. sean

        Besides, we are in sooooo much debt. You can’t just switch to a hard currency and to pay off the debt with. Automatically foreigners would take our gold.

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        1. longshotlouie

          Gold IS The Answer
          http://www.dailypaul.com/node/96496

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          1. sean

            Where does it say anything about oil and trade deficits in that article?

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          2. longshotlouie

            Are oil and deficits not part of our economy, Comrade Sean?

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          3. sean

            The article doesn’t address why we got off the gold standard and the dangers of trade deficits.

            Again, the article does not oil and trade deficits, the only thing stopping us from having a gold standard.

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          4. longshotlouie

            Comrade Sean states that oil and deficits are not part of the economy. It follows, that eyes and lips are not part of a face.

            [Hail Obama]

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        2. longshotlouie

          Oh NO !! If we pay our debts, we’ll have less money???

          NOOOOOOOOOOOOOOOOOOOOOOOOOOO !! It Can’t Be !!

          OOOOOOOOOOOOoh, The HUMANITY !!!!!!

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          1. sean

            How are we going to pay off our debts? How will that stop us from purchasing oil and other goods overseas? You are a joke.

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          2. longshotlouie

            I’ll try that response with my creditors.

            [Hail Obama]

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  29. Peter

    Sean,
    just for arguement’s sake. And please, spare me the Doomsday Scenario. No one can assume anything in today’s World. Obama, Pelosi and Reid have ran the old scare tactic ploy into the ground.

    What exactly would happen in today’s world without a Federal Reserve?

    Forget your own philosophy, just be truthful, unbias and specific if possible.

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    1. Sean

      Well, unfortunatly, the most harmful tool the fed has is the best tool from stopping inflation. Monetary policy is too important. Congress would pick it up but congress aren’t bankers, they are lawyers, that’s why they created the fed. They would probably adopt some other form of bureaucrat and you would still have “centralized economic planning” and manipulation in the markets.

      If your talking about getting rid of the fed and monetary policy altogether, banks will have the power to lend too much money and inflate the currency too much, unless we switch to a hard currency.

      But under our economic condition, if we switched to a hard currency, we couldn’t hold a steady money supply because we spend almost a trillion dollars overseas more than we receive every year. We would end up with a deflationary spiral like the great depression when the money supply continued to dwindle away.

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      1. Nate Y

        This reads just like all other forms of postmodernist garbage. Complete nonsense.

        A total misunderstanding of economics, history, and reason. Demand your money back from whatever school you attend. They have done a terrible job.

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        1. sean

          Correct me. You keep saying i’m wrong but I really don’t know where you stand.

          So you think all we have to do is switch to a hard currency and our trade deficit will improve?

          Or do you think we can continue to spend trillions of dollars overseas with a hard currency and limited amount of money?

          Or do you think we can trade commodities that we don’t have for goods?

          I would like you to FULLY explain your distorted understanding about our trade deficit, answering one of these questions. If not, you should probably go to school.

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          1. sean

            I think you need a history lesson.

            “You only have to look at history to see what would happen without the Federal Reserve.

            1. There would be no nationally controlled monetary policy. Each bank would expand or contract credit based on their immediate business needs, not the nation’s or economy’s requirements.

            2. Before 1905, many banks were allowed to issue their own bank notes. These acted as circulating currency and many were easy to counterfeit. There were approximately 30,000 different designs of bank notes in circulation.

            3. Smaller banks would be dependent on larger banks for credit extensions, currency, etc. History has shown that larger banks often consider smaller banks as competition and didn’t care if they failed. (After 1935, the Fed was charged with looking after the overall health of the system)

            4. In international monetary matters, the nations largest private banks would represent America.

            5. There would be no elasticity to the currency. You would see more cycles of inflation/deflation, and boom/bust as we saw in the 1800s. The national banking era is considered to be the time period between 1863 and 1913. During that 50 year period, the nation suffered many financial crises. The most severe ones occurred in 1873, 1884, 1890, 1893, and 1907.

            6. In the national banking era, banks were basically unregulated and mostly acted within their own shareholder’s interests. Also, during the national banking era, bank failures were a common occurrence. In fact, there was at least one bank failure every year between 1865 and 1913. Several times, more than 100 banks would fail in a single year. That makes the current credit problem seem like an extremely tame year.

            7. There are many services that the Federal Reserve performs that would have to be taken over by the large, private banks. These services, instead of being impartially administered, would revert to being performed at the best interests of the largest banks.

            So we really don’t need a Federal Reserve if you prefer what the historical record has shown us.”

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          2. longshotlouie

            Yepper, Lord knows we don’t want the government to live within their means like ordinary Americans (sarc).

            Comrade Sean, The Commisar says that you need to upgrade your representation of the Ignorant Traitorous Marxist Bastards, or you will get one of those underground desk jockey positions.

            Hail Obama

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          3. longshotlouie

            Everbody hush. It’s time for Comrade Sean’s ‘Daily Revisionist History Lesson’.

            Long Live Our Ignorant Traitorous Marxist Bastards

            Hail Obama

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      2. VR

        The Political Economy of Moral Hazard
        http://mises.org/story/2935

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  30. longshotlouie

    Paul Krugman explains the crisis, after the fact

    http://www.reinventmyhistory.com/watch?v=4XhvG_fD0HA

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    1. Sean

      He actually predicts and explains the stock market crash a year in advance in that video.

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      1. longshotlouie

        Sorry, Ignorant Traitorous Marxist Bastard Sean.
        Noone agrees with you except Krugman and the other Keynesian Ignorant Traitorous Marxist Bastards.

        No need to go to mises.org or any other Austrian economics site, even Leftists know that he is a loon.

        Paul Krugman Is Wrong on Inflation
        http://www.huffingtonpost.com/sheldon-filger/paul-krugman-is-wrong-on_b_209408.html

        Paul Krugman is Wrong
        http://thebaldingnews.com/paulkrugman.aspx

        Krugman is Wrong
        http://www.huffingtonpost.com/hale-stewart/krugman-is-wrong_b_180340.html

        Why Krugman Is Wrong
        http://www.newsweek.com/id/80882

        Krugman Still Wrong After All These Years
        http://globaleconomicanalysis.blogspot.com/2008/12/krugman-still-wrong-after-all-these.html

        Paul Krugman: Wrong Again
        http://blog.heritage.org/2008/09/18/canadians-confirm-socialized-medicine-is-terrible/

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        1. Sean

          I started reading one of those links… One thing he criticizes krugman for calling bush and the republicans Marxist.

          Krugman in another post said that bush was increasing the troops because he didn’t want to end in defeat and that the troops should come home.. The guy proves that military officals wanted to increase the size of the military. OMG, seriously, What a douche.

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          1. longshotlouie

            yepper, keep up your deflection tactics.

            Bottomline: KRUGMAN WRONG

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          2. Matthew

            Yep, what loon. You give me great hope for the future change, LOL. So anyways off to something more important is the weather cold or hot where you’re at?

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  31. Sean

    Paul Krugman explains the crisis.

    http://www.youtube.com/watch?v=4XhvG_fD0HA

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  32. Vitek

    Hi guys
    there si english transcript – it is very easy to add subtitles for any language
    http://dotsub.com/view/f12cf161-6c7a-461a-b235-0ac5d32dc851

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  33. Peter

    Sean’s real name is Bernanke.

    Come on Ben. Why don’t you just let it go? You gave it a good run. Your former pals (Goldman Sachs) have all been set up with fat retirement packages.Compliments of the American Tax Payer.

    And one can only imagine what sizable amount you have hidden in some Off Shore Account for your meager self. So why not step down and write a nice book?

    Or maybe open up your very own little Bank in some quiet little East Coast Town. You know that’s what you’ve always wanted.

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    1. Sean

      “In October, Representative Marcy Kaptur, D-Ohio, embarrassed herself during a Congressional hearing on broadband access with an out-of-the-blue rant against Internet smut. On Thursday, she distinguished herself once again while questioning Federal Reserve Chairman Ben Bernanke during a Committee on the Budget hearing.

      KAPTUR: Number three, seeing as how you were the former CEO of Goldman Sachs, what percentage level — oh, investment — were you not…

      BERNANKE: No, you’re confusing me with the Treasury Secretary.

      KAPTUR: I got the wrong firm?

      BERNANKE: Yes.

      KAPTUR: Paulson. Oh, OK. Where were you, sir?

      BERNANKE: I was a CEO of the Princeton Economics Department.

      KAPTUR: Oh, Princeton. Oh, all right. Sorry. Sorry.

      (LAUGHTER)

      I got you confused with the other one. I’m sorry. Well, I’m glad you clarified that for the record.

      And How the World Works is glad to know that the nation’s economy is in the hands of legislators who can’t tell the difference between the Secretary of the Treasury and the Chairman of the Federal Reserve Board of Governors.”

      ― Andrew Leonard

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      1. longshotlouie

        “If the individual, or heretic, gets hold of some essential truth, or sees some error in the system being practiced, he commits so many marginal errors himself that he is worn out before he can establish his point.”

        - Ezra Pound

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    2. Matthew

      “Sean’s real name is Bernanke.”

      LOL

      “The trade of governing has always been monopolized by the most ignorant and the most rascally individuals of mankind.”

      “A constitution is not the act of a government, but of a people constituting a government; and government without a constitution is power without a right. All power exercised over a nation, must have some beginning. It must be either delegated, or assumed. There are not other sources. All delegated power is trust, and all assumed power is usurpation. Time does not alter the nature and quality of either.”

      Thomas Paine

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  34. longshotlouie

    The Heat Is On
    You Tube Pulls Hundreds Of Ron Paul Videos

    Time to raise your voices another octave. These folks just don’t get it. Your country is being sold out and any voice against this will be quashed.

    If you have Ron Paul video downloaded, it is time to start uploading to every site available. Include a note that these videos need to be stored and uploaded to as many sites as possible.

    The War Has Just Been Upgraded
    Speak Now, Or Forever Hold Your Piece

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    1. Christine

      Save and Store YouTube Videos Easily

      http://www.youtube.com/watch?v=I2Nv0cINHJo

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  35. Ross

    Sean is on this site purely as cyber clutter.His aim is to distract attention away from debate of substance.What should happen is that posts be limited to say 2 every 24 hrs for each topic,so if you have to say something of worth,really think about it and it reduces trolls like Sean hijacking the attention & debate.

    Sean’s aim is to make everything so tiresome,that nobody will bother reading anything.

    If you notice the number of posts by Sean recently,they have been really ramped up,as Ron Paul has just needs 8 more members of congress to effect his audit.

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    1. Christine

      8 more co-sponsors! WooHoo!

      For all that Americans have been through and what we are about to go through….we’ve more than earned the right to this audit, it is our right to know where our money is going.

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