Fed Audit Will Show What They’re Hiding




In this speech to Congress, Ron Paul refutes Ben Bernanke’s interpretation of HR 1207, the bill to audit the Federal Reserve, and explains why only an audit will protect the public’s interest.

Date: 7/30/2009

Ron Paul: Mr. Speaker, the big guns have lined up against HR 1207, the bill to audit the Federal Reserve. What is it that they are so concerned about? What information are they hiding from the American people? The screed is: transparency is okay except for those things they don’t want to be transparent.

Federal Reserve Chairman Ben Bernanke, argues that HR 1207, the legislation to audit the Federal Reserve, would politicize monetary policy. He claims that monetary policy must remain independent, that is; secret. He ignores history because chairmen of the Federal Reserve in the past, especially when up for reappointment, do their best to accommodate the president with politically driven low interest rates and a bubble economy.

Former Federal Reserve Board Chairman Arthur Burns, when asked about all the inflation he brought about in 1971 before Nixon’s reelection, said that the Fed has to do what the president wants it to do, or it would lose its independence. That about tells you everything.

Not by accident Chairman Burns strongly supported Nixon’s program of wage and price controls the same year, but I guess that’s not political. Is not making secret deals with the likes of Goldman Sachs, international financial institutions, foreign governments and foreign central banks politicizing monetary policy?

Bernanke argues that the knowledge that their discussions and decisions will one day be scrutinized will compromise the freedom of the Open Market Committee to pursue sound policy. If it is sound and honest and serves no special interest, what’s the problem?

He claims that HR 1207 would give power to Congress to affect monetary policy. He dreamt this up to instill fear, an old statist trick to justify government power. HR 1207 does nothing of the sort. He suggested that the day after an FOMC meeting, Congress could send in the GAO to demand an audit of everything said and done. This is hardly the case. The FOMC function under HR 1207 would not change.

The detailed transcripts of the FOMC meetings are released every 5 years, so why would this be so different and what is it that they don’t want the American people to know? Is there something about the transcripts that need to be kept secret, or are the transcripts actually not verbatim?

Fed sycophants argue that an audit would destroy the financial markets’ faith in the Fed. They say this in the midst of the greatest financial crisis in history brought on by none other than the Federal Reserve. In fact, Chairman Bernanke stated on November 14th 2007, “A considerable amount of evidence indicates that Central Bank transparency increases the effectiveness of monetary policy and enhances economic and financial performance”.

They also argue that an audit would hurt the value of the U.S. dollar. In fact, the Fed, in less than a 100 years of its existence, has reduced the value of the 1914 dollar by 96%.

They claim HR 1207 would raise interest rates. How could it? The Fed sets interest rates and the bill doesn’t interfere with monetary policy. Congress would have no say in the matter and besides, Congress likes low interest rates.

It is argued that the Fed wouldn’t be free to raise interest rates if they thought it necessary. But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future. And again, this bill does nothing to allow Congress to interfere with interest rate setting.

Fed supporters claim that they want to protect the public’s interest with their secrecy. But the banks and Wall Streets are the opponents of HR 1207, and the people are for it. Just who best represents the public’s interest?

The real question is: why are Wall Street and the Fed so hysterically opposed to HR 1207? Just what information are they so anxious to keep secret? Only an audit of the Federal Reserve will answer these questions.



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326 Comments:

  1. Paul Krugman explains the crisis.

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

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  2. 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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  3. 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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    • "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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      • "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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    • "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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  4. 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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  5. 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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    • 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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  6. Is the United States Bankrupt?
    http://research.stlouisfed.org/publications/review/06/07/Kotlikoff.pdf

    FEDERAL RESERVE BANK OF ST. LOUIS REVIEW

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  7. Haha, I can't believe sean actually appealed to Paul Krugman, on this site no less! Krugman has been thoroughly discredited by the economists at mises.org and others. Since Dr. Paul adheres to the Austrian school of economics, the argument that "unregulated" banks caused the collapse should hold little sway in this discussion. Such fallacies fail to explain the business cycle as adequately as the Mises/Heyek theory. Only 100% reserve banking as outlined by Murray Rothbard in "The Case Against the Fed" would end the business cycle. Regulations are superficial and nonsensical.

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    • I was talking plenty about business cycles on this post. I never said it didn't have anything to do with our economic collapse. You see everything as black or white, Austrian or Keynesian. You think one thing and one thing only caused the problem and one thing alone could fix it. Ya right, thats a laugh.. I would laugh at you or paul krugman, or anyone who would think such a stupid thing. Paul krugman doesn't think like that, he blames the business cycle and the fed plenty, but he can also see many things that are wrong. Paul Krugman proves austrians wrong all the time with actual data, but austrains say data doesn't matter.

      Yes interest rates played a big role, but it was investment firms taking on too much leverage that turned the recession into an economic crisis. These firms provide most of our credit, not the fed, not the banks. They own 60% of our countries assets and have NO capital requirements. No rules or regulations that banks have had for hundreds of years to keep them sound and stable.

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      • Sean... you ignorant Marxist bastard,
        continue your quest in the grey area.
        Paul Krugman continues to be wrong, never saw this coming, and is an ignorant Marxist bastard like you.

        Economics is science, and the grey area that you are so fond of is nothing more than a deflection from the reality.
        Keynes Is Dead. His Marxist experiment is dead. Our economy is in shambles, and the second wave is coming.

        Tired of being the logical, respectful debator.
        From now on, I call a spade a spade. In honor of this, you and your kind will be referred to as Ignorant Marxist Bastards.

        Ignorant Marxist Bastards are traitors to this great nation.
        The traitors will get what they deserve.

        The revolution will not be televised.

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        • LIMBO: Liberal Ignorant Marxist Bastard Offensive
          (pronounced: Lim-bough) circa; 2009,U.S./Politics/U.S. History

          LIMBO was a failed Marxist movement in America in 2009 with the aid of ACORN. The fall of "LIMBO" and the surrounding controversy it brought about resulted in the reversal of many decades old Federal Government Laws and Institutions. Two of them being "The Patriot Act" and "The Federal Reserve".

          The LIMBO movement attempted to bring forth a more Socialized/Marxist Government to the U.S. However, after the 2010 Midterm elections which resulted in the removal of numerous "established" Congressmen the movement quickly ended.

          Many debates and speculations have arisen over President Obama's possible connection with LIMBO. A Hollywood movie titled "LIMBO" was released in 2011 featuring Denzel Washington as President Obama and Sean Penn as then FED Chief Ben Bernanke."LIMBO" was nominated for three Academy Awards.

          (yes, I made this up myself. he he)

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        • Paul Krugman did see this coming. Peter schiff did a horrible job at losing everyones money.

          You don't know what karl marx is about. He is against corrupt big business and monopoly/slave controlled economies.

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          • Keep re-inventing history, Ignorant Traitorous Marxist Bastard. Krugman told us for years that there was not a problem.

            Keep kissing that KarlMarxAss.

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          • I don't support karl marx, I think he is brilliant in a twisted way. Maybe you should read his book. You do read don't you?

            Forecasting economics is different than knowing economics. They say it makes weather predicting look like physics. You can't predict economics. Peter Schiff obviously couldn't.. You can only predict trends from past experiences. Anyways, Paul Krugman did see the bubble from the begging. He is very involved into mainstream economics. Have you even read any of his stuff, or do you discredit him because your a sheep?

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          • I love it when a childish Ignorant Traitorous Marxist Bastard takes an attempt at being condescending to his elders.

            Son, I was reading Marx when your mother was just a gleam in your grand-daddy's eyes.

            Peter Schiff warned of this for years, while Krugman assured the people that there was not a problem.

            Krugman, like you, is an Ignorant Traitorous Marxist Bastard.

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          • He's not a marxist. Neither am I. Peter Schiff lost 60% of his clients money during the economic crash while krugman was receiving a nobel prize, working for the new york times while teaching at princeton and the london school of economics.

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          • Hey, Ignorant Traitorous Marxist Bastard Sean

            You keep repeating the Big Bullshit Lie, but noone can seem to confirm this. Not that it would make a damn bit of difference to you.

            Nobel Prize? WGAF, so did YASSER ARAFAT, MIKHAIL GORBACHEV, MOHAMED ANWAR AL-SADAT , HENRY A. KISSINGER, etc. Who cares?

            Let's see some evidence for your assertion about Mr. Schiff.

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          • “[Mish] is confusing short term market fluctuations with long term economic trends……I never held myself out to be a market timer. My advice was always geared to long term investors.” - Peter Schiff

            http://www.topgunfp.com/the-wall-street-journal-weighs-in-on-peter-schiff/

            http://online.wsj.com/article/SB123327685671031439.html?mod=todays_us_money_and_investing

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          • Keep grasping for those straws, Ignorant Traitorous Marxist Bastard Sean.

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          • Still awaiting your evidence, but not holding my breath.

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          • Sometimes, the loudest sound is silence.

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  8. Hey Bern... what happened to the idea of a government for the people by the people. Hate to say it, but I would rather see congress drafting fiscal policy over the reserve any day. Besides, I think Americans may be a little more involved in the political process if it directly effected their pocket books. Keep at it Ron, don't quit.

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  9. Bankruptcy of the United States of America
    U S Congressional Record, March 17, 1993 Vol. 33, page H-1303

    Please note that this original speech (below) was altered in the official US records to conceal the truth.

    http://www.dailypaul.com/node/70415

    FRN = Federal Reserve Notes

    ~excerpt...

    "Mr. Speaker, we are here now in chapter 11.
    Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government."

    "The Federal Reserve Bank who controls the supply and movement of FRNs has everybody fooled."

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  10. BERNANKE ADMITS FED’S INDEPENDENCE

    Refuses Government Audits

    ATTACKING GOVERNMENT AUDITS AS A ‘THREAT,’ Bernanke came out in strong opposition to the Federal Reserve Sunshine Act of 2009, proposed by Ron Paul. The pending legislation calls for a full auditing of the Zionist-owned Federal Reserve Bank. Bernanke argues that audits would compromise ‘independence,’ seeking to deny legislative victory for the Fed’s leading opponent, Congressman Ron Paul.

    Speaking to the House Financial Services Committee on July 21, 2009, Bernanke spoke of the ‘threat’ of audit-reviews:

    “Because government reviews may be initiated at the request of members of Congress, the threat of reviews could be seen as efforts to try to influence monetary policy decisions.” View Entire Story Here.

    In other words, Bernanke, being the Rothschild puppet that he is, wants to keep all monetary policy decisions within the closed doors of the international Jews who OWN the Federal Reserve. All outside ‘influence,’ whether from the US Congress or the American taxpayer, is unacceptable to Bernanke and the international Jews whom he represents.

    Bernanke argues that the Fed is already allowing audits of its operations. But many, like Ron Paul, contend that the current audits do NOT provide a full disclosure of the Fed’s secret activities. The sham auditing system presently in use, provides for an outside auditor RETAINED by the Fed’s own Board of Governors, as well as an internal in-house examination conducted by the Fed’s Board itself.

    The current law disallows auditing of three areas: 1) Transactions the Federal Reserve makes with international financing organizations 2) Deliberations and decisions of monetary policy 3) Transactions made by the Federal Open Market Committee (FOMC).

    The FOMC is a component of the Federal Reserve Bank, charged with overseeing the nation’s open market operations, that is, buying and selling: government bonds, foreign currency, and gold. Members of the FMOC include, (of course), Zionist Jews, Bernanke, Kohn, and Rosengred (Boston Federal Reserve).

    EITHER DEMONSTRATING HIS ESSENTIAL STUPIDITY or taking orders so as to soften the American citizens’ pessimism over the economic downturn spiral, (so they won’t blame the Zionist Jews in power), Bernanke in classic doublespeak spoke of “positive signs indicating an end to the recession despite the rate of job losses remaining high and the unemployment rate continuing its steep rise.”

    Methinks It’s Time To Unseat The Zionist Jews In Power Like Bernanke
    & End Their Stranglehold On Our Lives Once And For All.
    ___________________________________

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  11. Bernanke a Rothschild puppet.

    http://www.realzionistnews.com/?p=418

    This says it all and is enough for the audit so the crooks robbing we the people through income taxing our money be sent to prison for life.

    Maybe the FR can finance their own prison.

    Thanks Mr Ron Paul America is standing behind you.

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  12. fourty two raised four children alone for fourteen years

    single
    live in the country and have a market garden

    grow my own food and meat
    have been buying silver for FIVE YEARS I have said for five years this was coming and all my neighbours thought I was CRAZY

    if your a woman that ONE wants a marriage

    two wants ONE MAN FOR LIFE

    wants a family and live in the country
    mind our own buisness and be self sufficient
    and wait out the hell of the next ten years of DEPRESSION

    I am fourty two average looking honest faithful
    real and a bible believing christian
    NOT A LYING CHURCH GOER
    www.goodnewsaboutgod.com

    I am looking for a good woman that wants to be a wife
    and friend
    its that simple
    Integrity@cyg.net

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  13. You can go buy an iphone for a hundred bucks.

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    • I am telling you the kids in our school

      have FIVE HUNDRED DOLLAR PHONES

      and satellite tv and A THOUSAND DOLLARS WORTH OF FRICKING VIDEO GAMES

      moms and dads buy these kids everything and take their trips
      while they ignore the single moms in the towns
      living on six hundred a month

      while pig and beef and dairy farmers have gotten
      hundreds and hundreds and hundreds of thousands of dollars

      BECAUSE THEIR INDUSTRY WAS BAD boo hoo

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  14. And why is Congress afraid of an audit? The Fed threatened Congress with higher interest rates if it approved an audit. What is Congress (government) hiding? It made no response to the Fed's threat. What has Wall Street got to do with this? They did not say, no to the audit. This is a Fed and government scam.

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  15. GO PAUL GO!!!!!

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  16. An Open Letter to Congressman Murphy
    http://campaignforliberty.com/article.php?view=156

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  17. The inflationary spiral was caused by printing money without substance. We are doing the same.

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    • No. its depends where the money goes.

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    • Where should the money go, Sean?

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      • It's going to be auctioned off and liquidated. People are going to purchase the assets. I don't think the fed should of done it. I think the government should have done it like they said they were going to with the tarp funds like they did back in the late eighties.

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        • The money being printed without substance is going to be auctioned off and liquidated? How do you liquidate cash?

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          • The money borrowed/printed bought the assets and then the assets are going to be bought by the people. The money will be paid back or erased, its not going to enter our system.. The federal reserve is working as a middle man to make a transactions of huge amounts of assets.. Again, I don't think the fed should be the ones doing this.

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          • Apparently he thinks people will buy the toxic assets currently residing on the balance sheet of the Fed. Who knows? Maybe that'll actually happen. If it does, the great boondoggle will be complete.

            Financial Insititutions: Hey Fed, we got a bunch of crap on our balance sheets. We'll trade you for some newly printed dollars.

            Fed: Okay. I mean, we're all a bunch of morally and intellectually corrupt jackasses right?

            Financial Institutions: Indeed we are old boy!

            Fed: But what will we do with this garbage?

            Financial Institutions: Well, perhaps eventually you'll be able to trick someone into actually buying them!

            Fed: Oh yeah! Shouldn't be too hard. We've already tricked plenty of people into thinking we acually HELP the economy. Hell, we've even tricked ourselves! And the beauty part is that the American people, wage earners, and dollar holders will end up footing the bill. Make sure to purchase real assets with the new dollars.

            Financial Institutions: Of course! That's the way the world works!

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          • Are the assets not in the system?
            Are the people not in the system?
            If it can be erased, why pay it back?
            If we can just print money for this purpose, why not for any purpose?

            Is this a big freebie?

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          • It protected investors and investment firms. The government did the same thing back in the late eighties and it worked out. I believe the government should of done all of that like they said they were going to, and the fed should be completely transparent.

            A lot of the money invested came from our pension fund, our 401k. We would all lose our retirement funds if they didn't pay them back.

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          • WTF you talkin'bout, Willis?
            It worked out? GMAFB

            All that happened was to put off the day of reckoning.

            Whay it did do was payoff the bad bets made by the investors and investment firms. Americans have finally tired of their gambling habit, and are saying that they will no longer be an enabler.

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          • Thats why they are adding regulations that will eliminate the gambling with our pension fund 401k money.

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          • More regulations that make the monopolies larger and squeeze out the smaller businesses?

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          • no, regulations that make monopolies smaller by limiting their lending capabilities by requiring higher capital reserves.

            regulations that protect consumers by enforcing credit ratings for loans and makes sure people don't borrow money if they can't pay it back.

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          • Why the half-measure?

            Mountains of regulations have not helped.
            How many more will be enough?

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          • haha, ya regulations have helped. the ones that failed had no regulations. They aren't under government supervision because they are not depository banks.

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          • If the regulations have helped our economy, they had better stop soon. We seem to be going the wrong way.

            More regulations in a centrally planned (government manipulated) economy is the fox guarding the henhouse.

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          • The economy was ran by banks with no regulation. These unregulated banks owned 60% of our countries total assets.

            That is why we are going the direction with regulations.

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          • Economy run by banks, the central bank.

            Plenty of regulations, that support the central bank and their scheme.

            Shouldn't we be regulating the FED bank?

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          • Lawyers. Why we ever thought they would be the best group of people to run a country I will never know. They are among the most disliked folks on the planet.

            I only met one lawyer I liked...and he taught me everything I needed to know to take care of the issue myself with a free consultation...and when I handled my own case using his tips in my own way, I received twice the amount in settlement that the lawyer would have obtained for me.

            Trouble is, the government is full of lawyers who make the laws/rules, the play book, and they work in collusion with the FED and financial corporations, who control the money...and somehow with this setup Americans are suppose to find a way to be free and to pursue happiness.

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          • Dinner time.

            Enjoy your daisychain of debt. Don't forget the penicillin.

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          • We should be regulating the fed, but the majority of the economy is not run by banks or the central bank. They are run by investment firms. The same investment firms that collapsed because they weren't regulated and took on too much leverage.

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          • I applaud your efforts.

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          • I doubt that Sean recognizes when he has been left standing on his soap box with his pants down.

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  18. The tremendous German inflation which reduced in 1923 the purchasing power of the mark to one billionth of its prewar value was not an act of God. It would have been possible to balance Germany’s postwar budget without resorting to the Reichsbank’s printing press. The proof is that the Reich’s budget was easily balanced as soon as the breakdown of the old Reichsbank forced the government to abandon its inflationary policy. But before this happened, all German would-be experts stubbornly denied that the rise in commodity prices, wage rates and foreign exchange rates had anything to do with the government’s method of reckless spending. In their eyes only profiteering was to blame. They advocated thoroughgoing enforcement of price control as the panacea and called those recommending a change in financial methods “deflationists.”

    The German nationalists were defeated in the two most terrific wars of history. But the economic fallacies which pushed Germany into its nefarious aggressions unfortunately survive. The monetary errors developed by German professors such as Lexis and Knapp and put into effect by Havenstein, the Reichsbank’s president in the critical years of its great inflation, are today the official doctrine of most of the world.

    We are in for a rude awakening.

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    • Aw, they had an inflationary spiral like we did in the seventies. They tried to raise wages and just "give people more money." That is when it really loses its value and slips into hyperinflation..

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      • inflationary spiral - an episode of inflation in which prices and wages increase at an increasing rate and currency rapidly loses value.

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  19. What the Fed is REALLY Trying to Hide In Fighting an Audit:
    http://georgewashington2.blogspot.com/2009/08/what-fed-is-really-trying-to-hide-in.html

    Interesting...

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    • Yes! Exactly so.

      "But what the Fed is really struggling to keep hidden is the fact that the entire financial system is based on massive manipulation and fraud by the Fed and its primary dealers."

      So we are thinking too small if we are just thinking about the imports or a this or a that about our financial state of affairs...yes, the whole damn system is a fraud. Which makes the polticians involved and all of these financial folks gangsters who should be in jail!

      Our politicians set laws to create streams of revenue from Americas into the pocket of the government as if a corporate giant. They are bills alright...to us! They are pumping them out of the senate and house, left and right! Bankrupt or not, America somehow seems to be proceeding as if not in a shameful financial situation, politicians with heads held high, still trying to command situations and negotiations in foreign relations and wars(thinking of Hillary and Timmy in China right now). How is this when we are flat ass busted and in debt up to our eyeballs?

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      • Its a little something called "neoconservatism." Most people in congress see us as the most successful country in the world. They think we should promote democracy across the globe through economic and military means while we have the chance. They think we will benefit in the long run if we all work together.

        This will explain everything..
        http://en.wikipedia.org/wiki/Neoconservatism

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        • "Most neoconservatives are members of the Republican Party. They have been in electoral alignment with other conservatives and served in the same presidential administrations. While they have often ignored ideological differences in alliance against those to their left, neoconservatives differ from paleoconservatives. In particular, they disagree with nativism, protectionism, and non-interventionism in foreign policy, ideologies that are rooted in American history, but which have fallen out of the mainstream U.S. politics after World War II." - Wiki

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      • The saying that "America is the most powerful and rich nation in the world" is the motto of the elite bankers. "America is a free nation" is doubtful. Americans are repetitiously taught these trite sayings so as to believe it.

        When all of our way of life has been steadily declining, systems falling apart, while gangsters run our country, still Americans go to war to supposedly reduce oppression, (never thinking they are adding to it), give them a stable government (after we've destablized it), give these people freedom (while ours is slipping away)......all things we don't even have!!

        How can we give what we don't even have for ourselves? Impossible.

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  20. I have already corrected plenty of what you have said and I think you understand very little and make everything to be simpler than it is.

    "Don’t bite the hand that feeds u."

    Inflation doesn't feed me it takes away from me and everyone else.

    http://coyoteprime-runningcauseicantfly.blogspot.com/2009/07/us-banks-hold-202-trillion-in.html

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    • You have not corrected one thing I have said. You have added onto things and shared your view but never corrected me.. Exactly, everything not that simple. You can't simply take away the fed and expect good results. There is a lot more to it and that's what I've been trying to say.

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    • "Inflation doesn’t feed me it takes away from me and everyone else."

      Correct. Inflation doesn't feed you or me. But I think we should not forget to point out that inflation is basically a means of wealth redistribution. It's the method of stealing purchasing power from the people and giving it to the politcally well connected (government itself, certain industires like auto/financial/etc.) Inflation feeds the few at the expense of the many.

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      • Without credit and inflation, only the people who inherit money can start and run a business. The rich would stay rich and the poor would stay poor.

        MOST businesses run off credit/inflation. That is how they pay their employees so they can own a home and EAT. Just because your mom feeds you, doesn't make you more important than the hundreds of thousands of businesses and hundreds of million of people who rely on it. Sorry, you just wont get it your way.

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        • "Without credit and inflation, only the people who inherit money can start and run a business. The rich would stay rich and the poor would stay poor."

          ????????????????????????

          Where do you come up with that shit?

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          • I'm going to business school so I can become an entrepreneur and start my own business. I don't have the money to start it on my own so I am going to have to rely on credit. I'm going to do like everyone else and write a detailed 30 page or more business plan so a bank will supply me with the funds I need.

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          • Is your answer that you found this balderdash in your textbooks?

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          • Seriously dude. I am constantly shocked when reading his posts. The poor man's mind is so hopelessly deluded in all things economic. Oh well.

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          • Wow, actually read this.

            44% of businesses rely on credit cards for financing
            Fact recorded on: August 28, 2008. Categories: E-commerce, General.

            Share of businesses using credit cards has jumped from 16% in 1993 to 44% today, according to National Small Business Association. The proportion using bank loans dropped from 45% to 28%. A Federal Reserve survey showed that share of firms using business credit cards jumped from 34% in 1998 to 48% in 2003.

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        • I my God you are so delusional you need help.

          'Without credit and inflation, only the people who inherit money can start and run a business. The rich would stay rich and the poor would stay poor.”"

          It is called innovation. Money flows to people that have dynamic ideas, new ideas, better ideas for the people that live in the world. Under the current system or corruption innovation is hindered by control of the government and the Fed. Inflation doesn't feed you. I feel so sorry for you if you think that.

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          • Investors aren't just money gods that fly around like twinkle fairies from your dream. Wake up

            Maybe for commercial industry.

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      • Go to your local Business Development Center (funding is through the SBA). They have free counseling services with business advisors. I used to work for them, with one of the guys who started Starbucks. Businesses have been failing and folding, not much SBA funding available. Always "talking about" getting more available funding. Banks just not letting loose of those funds. The coming commercial real estate bust/heist, whatever you want to call it, may make things even more difficult.

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        • Ya, and they are going to raise capital requirements so banks don't print too much money, which will also make it more difficult. I might end up getting money from Lehman brothers, or one of those financial firms, its cheaper. haha, i'm going to get my tax dollars out of it.

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          • So you will be propping up the shadow bankers?

            And I thought you said that paying your taxes was your contribution. Why do you want those taxes back. What have you contributed then?

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          • I never said I wanted to give them money. I'll borrow money and earn back my share.

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          • Anyone starting a business might have luck with organizations you would not normally think of like www.mercycorps.org . An SBDC (small business development center) business advisor can help advise, even get public funding and exposure. SBDC branches are often located on community college campuses.

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          • I remember you posting that paying those taxes was our duty to the nation. I thought you said taxes equal love.

            Wouldn't it be more efficient if you just kept your money for your own purposes, rather than filtering it through a government sieve?

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          • i never said i thought paying taxes was my duty to the nation. I said, if there was more good in the world than we wouldn't need taxes.

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          • If our property and labor were not taxed there would be more giving. How do you keep arriving at the starting point, walking backwards?

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          • hahaha ya right. Everyone is greedy. when was the last time you donated to a sick person? You should go up to the hospital right now and help out the most you can.. I'm totally against taxes by the way and you are trying to twist my words around and make me look like I am.. A poor way to debate, but a good way to argue.

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          • You are still unable to recognize when you are chasing your own tail. How did I 'twist' your words?

            I understand that in your world, everyone is greedy. But here in the real world, that is not the case.

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    • and the really sad truth about all this is, worldwide decisions affecting everyone on the planet are being made by what the elite do with money and it's totally at their discretion when they choose a recession or fake good times. Neither keep us financially stable. They lead the world along to do what they want the masses, even nations, politicians to do via their tool, money.

      They want this NWO, so they use the state of the money flow, all of the ebbs and flows over years, to accomplish their endgame, step by step, no matter the harm done along their course. All true reasons for the destruction they cause are attributed to something else, someone else. Confusion is a tactic and part of their game strategy. That confusion is also a tool. It keeps we the people like us fighting with each other and unable to unite as a force, not just against this NWO, but for liberty and freedom.

      I don't know how it is that someone wakes up one day and says to himself or herself, I want to rule the world. As audatious and obsurd as that idea is, that is what they are pursuing and we are all aboard their train wreck. This is in total disregard for the true nature of human beings as creators of their own lives, using our own minds. We're not robots. We need to use our own minds.

      We need an audatious plan and goal.
      My question is, if money is the tool they use to move the masses in the direction they need us to go, and if one institution is corrupt and we end it only for it to be replaced by another, then how do we the people stop using the tool and being in this cycle of expanding corruption so we can live our lives the way WE want?

      If we don't use any tool they value, that gives them power and control, then their game is over!

      The FED really does need to be audited fully, even if just to show how guilty this little group of sick people has reduced America and every other country and their ciitizens to "tools in crimes against each other." ...for what?

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