53 responses to “Break the Monopoly! Ron Paul Introduces HR 4248, the Free Competition in Currency Act”

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  12. Shawn

    I wonder what Ron's stance is on the food/agriculture industry and the issues raised by films such as Food Inc and King Corn and the writings of people like Michael Pollan.
    ??

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  13. DanS

    SOUND money is the catalyst for both individual and community "TRUST." Without this TRUST, nothing will work efficiently and the global economies will continue to sink.

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  14. posh

    ending the fed will also put farming , logging , mining, local jobs and freedom back in the black . all the give away social programs that have worked so well to bankrupt the nation will no longer be funded either.

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    1. Matt

      I am sorry, maybe I missed it, but how would ending the fed put logging jobs back in the black?

      Or was logging included as some larger and overarching, totally vague statement based upon utopian beliefs rather than a thought-out premises? (i.e. 'getting rid of the Fed will rid all evil, cause the economy to be perfect and unicorns to appear and crap gold')

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  15. J Lacerenza

    I feel that real money is manditory for a healthy economy,
    credit based on real money is free from the many manipulations inherent to fiat money and manufactured credit, the value of real money ( Gold, Silver) through volitile when metered to fiat money only testifies to it's solvency as a real asset ,real money's relationship to labor as compared to a unit of Gold or silver through the centuries continues to provide a stable continuous platform for commerce, confidence in the Economy I feel can only be restored when options other than the federal reserve note can be implimented thereby giving the seller of commodities the security that he has recieved real value for his or her goods and services

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  16. dingdong

    The fiat world and the fiat inflation has to be attacked at the root.

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  17. Doug

    Washington – Tear Down Your Wall Against Currency Competition

    Here is an endorsement from Switzerland in support of Ron Paul’s Free Competition in Currency Act http://www.lewrockwell.com/orig/holland10.1.html

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  18. Perception

    I see practical problems in finding enough precious metals to put into coins.Perhaps you could have paper money with a thin strip of pure gold whose authenticity can be verified by some portable electronic metal detector.A wide variety of metals will have to be considered.

    The US Govt owns a lot of land and resources.Why not have a currency backed by these? ie the currency is redeemable in shares in the common wealth of the US people.We need to think outside the square.Work out the value of the total assets of the US Govt and divide them by the number of workers.Do not issue currency initially,beyond the value of these assets.As the economy grows then so does the money supply.

    Congress will have to act quickly since the Fed $ will collapse rapidly.

    Fiat currencies can work if enough regulation is placed on its creation.It surely can be worked out on a population and GDP growth basis.

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    1. Siegfried

      Great Idea, the US could give China Yellowstone Park and half of Yosemite to pay back our debt to them!
      Technically the park realestate has no value since it can not be developed, essentially it would simply rise in value and the Chinese would raise park fees to Americans to collect their debt back, it might take 200 years, oh well.

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    2. Nathan

      The beauty of what Dr. Paul proposes in his bill is that it creates the opportunity for us to decide for ourselves what commodity money or fiat currency we want to accept as payment for our personal transactions.

      The market will dictate what works best. It could be your idea? It could be bullion? It could be butter?

      The benefit lies in the fact that we the people would have the ability to decide what money we will use taking the monopoly away from the fed and Government, breaking the trend of money devaluation and burdensome taxation that is killing our middle class.

      Dr. Paul's Bill HR 4248 puts the market to work for our best interests, not big government or central bankers.

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  19. TakingDownTheRubicon

    I hear people of every stripe and color, complain about the corruption in Senate Chambers or in City Police Departments and the fact there are so many inbred thugs to go around it seems like reforming government is an impossible task.

    I hear all about people who wince, retort and scream about the fact that no matter how many politicians are thrown in jail, another gaggle of scumbags will get into office because there's simply no way to beat their corporate machine - we are out financed.

    I hear the weary complaints of the sick and hungry, the tired and the angry waiting to be free - no FIGHTING for their right to be free and live in peace. They go on and on about how hopeless it seems, about how the political system can never be reformed, or how no civil war will ever end the charade.

    And to them, I give a resounding answer....

    NEVER GIVE IN!!!!!!!!!!!!!!!!!

    These were the very issues facing the revolutionaries of the first century, only in a much more direct and threatening way, and the truth is there has never been a need to be frightened or alarmed by a "New World Order"

    They have a weakness, an achilles heel, that once destroyed would eliminate nearly the entire rotten system alltogether. A system so decadent and decrepit, that we need only open man's eyes to its true nature....in order to be rid of it forever!

    http://www.apfn.org/apfn/reserve.htm

    A New World Order or "wealthy aristocrats" bent on fear mongering the populous, all rely on the endless supply of counterfeit currency to install their politicians or to feed their wars.

    An endless supply of fake, worthless funny money that is run off printing presses that could accidentally stop one day. Through a central processing system so corrupt, the very mention of its name alights the flame in one million patriots.

    I'm talking about the Federal Reserve System, lads and lasses. The largest scam to ever be concocted. The source of the entire political process. You want the evil to be purged once and for all, then people must awaken and focus on the source!

    The ENTIRE Federal Reserve System is built upon fraud and theft, by going to the grassroots we can elect Ron Pauls in every district. The Federal Reserve can't block who we want in office. Moreso it can't deflect, nor can it contain!

    The Federal Reserve is a weak and depreciating institution, nearly as vile and corrupt as any "Global Order" of bankers could be. I say to you from this vantage point, we can take down this revolving door monstrosity.

    We can topple the Federal Reserve, all you need do is awaken your fellow patriots and friends from all around to the cause of freedom. When the Audits are complete and the common man sees just how unbelievably corrupt the Federal Reserve is, finally at last, Congress can be fired and we can pass HR 833 to phase out this mafia ridden enterprise from our world forever.

    When there is no more Federal Reserve and the world Fed can be abolished, there is no more money for the evil bankers of the world. God's light can strike out the vile nature of the "Global Murder Inc." and extinguish it from this world.

    Politics can start over once and for all.
    Make it known my friends, the only thing that matters before anything else of note....is to force Congress to obey our wishes and begin dismantling the Federal Reserve.

    Take out the heart of their army and they are wiped out....no amount of corporate extortion would bring them or their politicos back. Without a Fed the vast army of Sauron lie dead. A -Men, some wars are fought to secure only freedom.

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    1. Siegfried

      Ouch... thems harse words, but sadly you are correct!

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  20. Al Campbell

    Thank you Dr. Paul! Now is the time to make this go viral. We must force congress to act on this and the fed fiasco. It may seem unlikely that we can succeed, given the way we are tied to the world markets and our debt masters.

    Personally, I'm all for giving this a try and if it doesn't work or doesn't even pass as law, then I'm prepared for the worst. If we don't fix the problem, it will be fixed by those that do not have our best interest in mind.

    We had better take our responsibility seriously and get control of congress or we will be headed for rougher times...and I don't just mean more inflation and devaluation. These are the things that bring nations down or turn nations to things like civil war.

    I don't want to see such horrors, but I'll not be an ostrich with it's head in the sand! I for one am working to elect a true constitution lover and a lover of state's rights to the governor's office in Texas (Debra Medina). I'm also going to get involved at the local government level. We must all take this seriously or become what the 13th amendment prohibits....involuntary servants (which we already are) or worse...slaves!

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  21. WeAREone

    Ron Paul is telling the truth. He's a true American hero who only wants FREEDOM FOR ALL. WAKE UP AMERICA. Don't listen to stupid movies by Borat or Bruno or people who would attempt to humiliate this honorable doctor in their sick movies. I'm ashamed and dismayed that I ever bought movie tickets to such depraved stories as these. Remember, the military / industrial complex, supported by Federal Reserve theft will attempt to deceive us with every falsehood possible. I can't believe that I once thought Obama was an honorable person ... or Oprah Winfrey ... another huge and extremely skillful deception. Don't be fooled people. If you want YOUR FREEDOM, support Dr. Ron Paul's mission!

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  22. FedScam

    The Federal Reserve In A Nutshell
    http://www.apfn.org/apfn/reserve.htm

    The gold has been stolen from the bank, our true currency!!

    The thing is the Fed scam is so thin, your eyes need only be fully open to see what it is.

    The Federal Reserve is not a bunch of cops or even official US government. It is so completely stupid what this agency does.

    It is a private corporation, if you stand on its property you are under the rules of a private corporation and the “authorities” that man handle you or attack you are NOT part of the USA courts they are “rent-a-thug” security guards!!!

    They have credentials that have no I.D., other than they are employed by the Fed to handle trouble makers. Aka they are private guards that make the Fed legal since its actually a PRIVATE sanctuary for corporate goons!

    They always tell you it’s government and it is NOT! The place is not even authorized in our constitution anywhere. Once you get this fact the Fed isn’t scary, they are a bunch of scammers!

    Stand up to these lunatics by teaching the public they are nothing but a private corporation, they control everything through intimidation and lies. The worst they can do is call you names to try to get the world to think you are crazy, but look up the U.S. constitution. Something’s OFF about all this. YOU are not crazy, the Federal Reserve is not even a bank.

    It’s a private gang of bankers who run a corporate aristocracy society through private corporate laws unenforceable by anyone but those who they pay to keep the scam running.
    THE U.S. FEDERAL RESERVE IS MERELY FEDERAL EXPRESS, EVERYONE SHOULD KNOW IT!

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  23. Siegfried

    Our esteemed career politicians are not likely to give up their Heroin Addition, i.e. the ability to pay for campaign promises out of thin air.
    The sad fact is... the American People have also become junkies of Government largess and Fed is simply the instrument of the heroin distribution.
    Question>>> Are We The People, willing to suffer the rehab, and return to "Real" money, a Gold standard???

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  24. Bottomline

    I think this is a great bill as well! To keep the Feds accountable! However the so-called Mr. "Nobel Peace Prize" Winner & SCAM of a President Obama and the War proponents will stop the bill from enforcing the law of the FEDS!

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  25. EndTheScam

    The fact is, eliminating the legal tender laws that block the nation from circulating their own currency officially will end the stranglehold the Federal Reserve has.

    We can do this!

    Everyone bombard your senators to bring S 604 to vote either standalone or in the financial regulation bill!
    http://www.auditthefed.com/?mode=actionpage

    People need to be wide awake to the fact that obviously we not only need much more auditing of the Fed, we need an alternative idea that does not sound crazy.

    A currency that is backed by solid metals and a good faith banking system is not a completely crazy idea. The public must be educated in this. We not only need to send the bankers to jail for any offenses committed, we need to brainstorm on how to phase out the Federal Reserve alltogether.

    This bill will do that- Get it to the people, get it to Grayson and DeMint and to everyone who knows we can be free of the Fed!!!

    One by one, people will need to decide if its worth it or whether the corruption of the Fed should be abolished so our currency is no longer controlled.

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    1. S

      I have questions:

      1-Does the limiting amount of a metal limits the economy?

      If so, how does that play into an economy that needs to grow rationally? is the wealth then redistributed?

      2-shouldn't good faith banking be enough? open scrutiny to accountable people might be the only realistic choice.

      3- maybe a substitute for gold is needed for economy expansion.

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      1. longshotlouie

        This might help:
        http://www.dailypaul.com/node/96496

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      2. Siegfried

        1. Not at all... an ounce of metal, gold or silver, is simply a store of value. we don't need to carry the metal, we only need to allow currency competition, ala HR 4248, which will permit competitive minting of real money, not toilet paper. Growth is a function of personal savings not government borrowing and spending. Wealth and Growth are the natural reward of a frugal and thrifty soul.
        2. Yes. But Bankers are not known for their good faith. They must be held accountable by eliminating Fractional Reserve Banking on Demand Deposits; the People's Hard Earned Savings should not be diluted by unscrupulous bankers
        3. There is no "substitute" for Real Money! Once the government begins fabricating bogus currency it’s NOT money, but a broken promise and the very reason they removed Silver Certificates from circulation, because the Government would no longer honor its Debts both Public and Private

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        1. S

          Than you for the info and answers.

          Basically is like defining and setting a unit of value or activity to a substance, gold.

          Where it seems confusing and prone to valid questions for the common people is: good quality activities that generate expansion of more quality activities will be more worth in gold equivalences and that is represented in a gold storage somewhere that is a tangible rather an imaginary value. So who sets the standards? who assigns the values if there are no reliable bankers or leaders that can be trusted in the field?

          That follow up seems important to address.

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          1. S

            What I am saying is that setting the values, or resetting to the system, is an issue to think about in anticipation to the competitive nature of a free market system that sets the flow of values.

            I guess like in the system before, will it?

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          2. Siegfried

            S
            The Free Market sets the value of goods and services. Gold is simply a commodity of exchange, a commodity that the Government CAN NOT manipulate, forge, counterfit or otherwise fool with. There is plenty gold above ground to return to a gold standard. The fact is that if the US re-valued its currency back to a Gold standard, most of us would again be earning $15 per week or about $.35 (cents per hour)given that a $20 Dollar Double Eagle one ounce gold coin is selling for $1500 these days. I for one would be willing to pay those associated taxes, ZERO!!!

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          3. S

            yes, free market competition sets the value.

            I have to think better how to phrase two remaining questions. Thanks.

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  26. Ross

    The Fed are now under attack on many fronts.They will seek more wars as a distraction from their foibles.Obama the Nobel peace prize winner seems very obliging.

    The concept of a currency backed by precious metals is a good interim solution to people losing value of their wages and savings via Fed counterfeiting.Many transactions are now done on the internet.How can this Bill accommodate electronic transactions which do add to the efficiency of the economy? Can electronic transactions be done in the new currency?

    Ron ,I think this bill will gather a lot of support as the US $ collapses.

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    1. FedScam

      The thing is the Fed scam is so thin, your eyes need only be fully open to see what it is.

      The Federal Reserve is not a bunch of cops or even official US government. It is so completely stupid what this agency does.

      It is a private corporation, if you stand on its property you are under the rules of a private corporation and the "authorities" that man handle you or attack you are NOT part of the USA courts they are "rent-a-thug" security guards!!!

      They have credentials that have no I.D., other than they are employed by the Fed to handle trouble makers. Aka they are private guards that make the Fed legal since its actually a PRIVATE sanctuary for corporate goons!

      They always tell you it's government and it is NOT! The place is not even authorized in our constitution anywhere. Once you get this fact the Fed isn't scary, they are a bunch of scammers!

      Stand up to these lunatics by teaching the public they are nothing but a private corporation, they control everything through intimidation and lies. The worst they can do is call you names to try to get the world to think you are crazy, but look up the U.S. constitution. Something's OFF about all this. YOU are not crazy, the Federal Reserve is not even a bank.

      It's a private gang of bankers who run a corporate aristocracy society through private corporate laws unenforceable by anyone but those who they pay to keep the scam running.
      THE U.S. FEDERAL RESERVE IS MERELY FEDERAL EXPRESS, EVERYONE SHOULD KNOW IT!

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      1. Siegfried

        The FED is a Government Sponsored Enterprise, as are FreddyMac, FannieMae etc...
        The "Progressives" of the early 20th Century sold the Big Lie of the Fed Reserve stabilizing the monetary system.

        But the FED has been the instrument of Grand Theft Government and is the Heroin of the Politians. The withdrawl will be ugly!

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  27. Joe

    Thank you, Dr. Paul, for the wonderful Christmas present! Brilliant!

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  28. James Godson

    Most if not all of the wars fought by the U.S. have been over either the elimndation of our own central bank charter or being used as the collection agent for foreign central banks. Cancelling the Fed's charter most surely will bring war on our shores.
    The only real scenario is to start a new nation(s) inside the U.S. like the Indian nations that issue their own license plates, pay no federal income tax and legislate everything but capital crimes. Check out jcbboks.org!

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  29. longshotlouie

    “Free Competition in Currency Act of 2009”
    Another succinct resolution from the doctor.

    What's up with him? One page resolution?
    Aren't these things supposed to be hundreds of pages?

    ;) :) ;)

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  30. JB

    "It's not what backs our money - it's who controls the supply of it." - Bill Still, producer of the documentary "The Money Masters"

    We just need to nationalize the Fed, pass a balanced budget act like the states have, eliminate derivatives, and we can dispense with all this gold nonsense.

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    1. Nathan

      When not under force to use a particular money, a market will determine what it deems to be the best money. Money that evolves in a free market will tend to have the characteristics that Dr. Paul mentioned in his opening statement.

      Historically it's been gold and silver that have best meet the money needs of individuals.

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  31. Kasado

    Many of my friend balk at the idea of carrying large sums of gold coins in their pockets to pay for their consumption.
    Yet, I counter with the arguement that, "Don't you carry coins in your pocket NOW" and "if you are so accustom to paper money, mints can easily embosed them with gold or even print them interwoven with the metal"

    I lived for years in Japan and they have a compatible five dollar coin. I loved them.

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    1. Siegfried

      Just imagine walking around with your current weekly paycheck after tax, $100 to $200 dollars of walk around money, assuming you put some aside for rent??
      Well that equates to only 5 to 10 one ounce silver coins! If you are a real high roller, carry a Double Eagle one once coin and you'll be carrying the equivalent of $1,200 Fed Resrv Notes, which will soon have the value of a square of toilet tissue.
      As for Banking... Stop Fractional Reserve Banking on Demand Deposits!!!

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  33. Rhett

    The FINAL final step is to establish a gold and silver equivalent note printed on American grown hemp paper. :)

    Crazier wishes have come true.

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  34. NoAnimosityRequired

    Perfect timing too!!

    As soon as things start quickening, Representatives will start signing onto this like mad. Be sure to get Demint and Grayson on board, along with many of the congressman supporting the Audit!

    This audit will uncover so many things we will need to jump right onto the next step, this one and hopefully a clarion call to wake people up and abolish the Fed forever.......

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  35. ThomasPaineReturns.Net

    Another masterstroke by Ron Paul!!!!!
    Right now there will maybe not even be a single co-sponsor, maybe a few Republicans for show.

    But this is gonna gain massive publicity and lots of co-sponsors after the Dollar crashes more and more in the coming months.

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