64 responses to “Ron Paul: If the Fed didn’t exist there would be no deficits”

  1. Prentis Goodwin
  2. Prentis Goodwin

    HEY” Just who the F$$K is Bob Schieffer working for?

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  3. longshotlouie

    Poll: Who will be the Republican Nominee for 2012?
    http://www.dailykos.com/storyonly/2010/3/9/142944/7380

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  4. longshotlouie

    A reminder to Fled The Deflectionist:

    There is always enough gold.
    http://www.dailypaul.com/node/96496

    In the posts below you will find that Fled has figured out that gold should be about $2600/oz.
    And he did it accidentally. He still doesn’t realize what he did.

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  5. StokeyBob

    Maybe this will help make the danger of fiat money clear.

    Imagine you and me are setting across from each other. We create enough money to represent all of the world’s wealth. Each one of us has one SUPER Dollar in front of him.

    You own half of everything and so do I.

    I’m the government though. I get bribed into creating a Central Bank.

    You’re not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.

    All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!

    That isn’t the only thing though. You need to get busy and get to work because YOU’VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.

    That to me represents what has been happening to the economy, and us, and why so many of our occupations just can’t keep up with the fake money presses.

    They have been beating us with our own stick!!!!1

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    1. Fred the Protectionist

      “Fiat Money” worked fine and dandy before Nixon opened up China. Heck, when one thinks about it, all these economic problems started when we dropped tariffs in favor of higher income/corporate taxes. Thanks free traitors.

      “Fiat Money” is the basis of all banking, it’s primordial. Do you Ronulans hate all forms of banking? Shall we barter in gold?

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      1. StokeyBob

        I don’t think many people have a problem with banking when it is done based on real assets.

        If you were to look at a chart showing the devaluation of our currency in the last three decades, I think you would see that it now takes over one hundred dollars to do what it used to take less than ten to do.

        In order to recreate the devaluation it would take counterfeiting the entire money supply between ten and seventeen times over.

        The only thing primordial has been the way we have set around like blithering idiots while they stuck it to us.

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        1. Fred the Protectionist

          I don’t want to bust your fantasy but theoretically when an entity inflates fiat money, somebody supposedly benefits from it.

          If a government intentionally inflates their money supply, than they benefit from it, the extra money acts as tax revenue. Guess what, the US government (including the Federal Reserve) has not benefited from dollar devaluation because there has been no deliberate inflation of the money supply.

          And when there is inflation, there is also wage inflation. Guess what, wages have remained static, except for your richie rich buddies, anarcho-capitalists.

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          1. longshotlouie

            So the inflation was accidental? or maybe it was incidental?

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      2. StokeyBob

        Maybe I could have explained it in another way.

        When our government prints up money it doesn’t have, and gives 700 billion for birth control education in developing countries to the United Nations, every person that holds a Federal Reserve Note has their money devalued. It could even be some lady in Holland that just traded a few dollars for some of her tulips.

        That’s not banking. That is stealth socialism.

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        1. StokeyBob

          Oops.

          $648 million is closer to the truth in my last post.

          It also doesn’t really matter the amount or cause. If they don’t have it and spend it, the counterfeiting sucks the life out of the money people do have.

          Thus the stealth socialism.

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      3. longshotlouie

        Hey Fled, it’s about Nixon and Bretton Woods …. not Nixon and China.

        They held up one hand and mesmerized you, while their other hand was in your pocket.

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  6. BeaReady

    Just received below from C4L. Includes my Senator’s names so you’ll have to swap out your own. We must not sit on our hands and do nothing! Please do all that you can.

    *********

    Dear Kathy,

    Our battle to Audit the FED has reached a crisis.

    Right now, a handful of Fed-loving U.S. Senators, led by Bob Corker (R-TN), Richard Shelby (R-AL), Chris Dodd (D-CT) and Judd Gregg (R-NH), are reportedly working to rewrite from the Financial Reform Bill to strip out Audit the Fed and actually EXPAND the Fed’s power over banks, lending and money.

    I need you to contact your senators today with an urgent message: Audit the Fed and DON’T increase the Fed’s power.

    As you know, Audit the Fed is currently in H.R. 4173, a financial “reform” package that has passed the House.

    The Senate will unveil its version soon, which means you and I have to work fast.

    In addition to stripping out transparency and accountability, the Senate version is set to grant the Fed broad NEW powers over our economy by putting the Consumer Financial Protection Agency under the Fed’s purview.

    Seriously? The same Fed that won’t tell us where our trillions of dollars went is going to be put in charge of “consumer protection?”

    It would be funny if it weren’t so dangerous.

    You and I must turn up the heat on the Senate TODAY.

    Please contact Senator Sherrod Brown and Senator George Voinovich at once!

    Of course, as you know, over two thirds of the House of Representatives, almost a third of the Senate and nearly 80% of the American people support a FULL Audit of the Federal Reserve.

    So the establishment has no choice but to attempt to fight us in secret.

    That’s why they’re trying every trick in the book to make sure they kill a full-scale Audit of the Fed.

    And that’s why it has never been more important that you call Senator Sherrod Brown at 202-224-2315 and Senator George Voinovich at 202-224-3353 and DEMAND that they withdraw their support for ANY effort to strip the bill of the Audit, and oppose all efforts to grant the Fed more power under the guise of so-called “reform.”

    It’s clear that passage of this bill would pretty much guarantee that the FED is never audited, allowing the banksters to continue to rob and loot the American people.

    And this sounds like something taken directly out of the Ben Bernanke playbook.

    You see, Ben Bernanke and his buddies have been claiming the need for Fed “independence” for some time now.

    But what they’re really talking about is independence from accountability…

    …Independence to keep printing money out of thin air without any oversight from the American people, further destroying our savings and wiping out the middle class.

    That’s why it’s vital you take action IMMEDIATELY.

    Please call Senator Sherrod Brown at 202-224-2315 and Senator George Voinovich at 202-224-3353 and demand that they stand with the nearly 80% of Americans who support a FULL audit of the Federal Reserve.

    You and I are now very close to allowing the American people to have the first ever COMPLETE audit of the Federal Reserve, and without your efforts, Ben Bernanke and his cronies would have nothing to worry about.

    But I’m afraid if you and I don’t act right away, all of our efforts up until now will be rendered useless.

    And that’s something I’m not going to sit idly by and allow to happen.

    If we’re going to stop this attempt to gut Audit the Fed, we must act before it’s too late.

    So please, right now, call Senator Sherrod Brown at 202-224-2315 and Senator George Voinovich at 202-224-3353 and demand that they support a FULL audit of the Fed and OPPOSE all attempts to broaden the Fed’s power.

    And if you can, please make your most generous contribution to help Campaign for Liberty alert millions of Americans to this battle.

    But most importantly, please contact Senator Sherrod Brown and Senator George Voinovich TODAY.

    Sincerely,
    John Tate
    President

    P.S. Fed-loving Senators are working behind closed doors to strip Audit the Fed out of the Financial Reform Bill while granting the Fed even more power.

    That’s why it’s vital you IMMEDIATELY call Senator Sherrod Brown at 202-224-2315 and Senator George Voinovich at 202-224-3353 and demand they stand with the nearly 80% of Americans who support a FULL audit of the Federal Reserve.

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  7. Bottomline

    What Ron Paul suggested sounds like a golden opportunity to audit the fed and invest in gold. Dfens and Fred the protectionist are using scare tactics to prevent us from support Dr. Paul and most of his ideas.

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    1. Fred the Protectionist

      Thaaat’s right, invest in gold. Buy a piece of paper from the government stating that you own gold.

      Mmmhmm, you wouldn’t want to own any FIAT money.

      Fruitloops.

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      1. Fred the Protectionist

        That’s right Ronulans, give me 5 thumbs down.

        You wouldn’t want to have any “Fiat Money”, but you want to buy a piece of paper from the government stating that you own gold. HAHAHAHA, you’re all nuts.

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        1. longshotlouie

          Still haven’t figured out that the subject was ‘gold backed’ currency?

          Tell the home office to send us an adult that at least understands the subject matter. You Are a joke.

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    2. Dfens

      If what you’re really afraid of is the truth, then, yeah, I’m using “scare tactics”. Oh my, look at how scary I am. I’m even scaring myself.

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    3. Bottomline

      Then why should I support anything what the fed is doing? Also sounds like you both support more bailouts and having to pay higher taxes!

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      1. Fred the Protectionist

        So what is “the fed doing”?

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        1. longshotlouie

          Raping and Pillaging, but with a smile and a kind word.
          Oh, and they do it real slow, the way you like it.

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    4. longshotlouie

      Doesn’t seem like scare tactics to me. More like comedy tactics.

      The comedy team of Ben Dover and Son.

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      1. Bottomline

        You know you’re right Louie! Most of what they say are jokes anyway! & they should have their own comedy show!

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  8. Libertarian777

    Fred the Protectionist, instead of coming up with a lame accusation, why don’t you bring a rational argument to support the Federal Reserve then?

    e.g. your argument could go something along the lines of…

    since the establishment of the current Federal Reserve:
    1. your US dollar purchases more for you now than it did pre-1913
    2. the average family in the USA can get by with only 1 spouse working less hours now than ever before
    3. the Great Depression ended, and we’ve never had another Tulip pricing issue
    4. everyone can afford a house, even if unemployed or a NINJA (No Income No Job or Assets)
    5. everyone’s happy, since green paper (fiat money) looks and feels cool, is fungible and accepted everywhere (like a mastercard), and can be created in unlimited amounts (much like free hugs for everyone). Gold on the other hand is a scarce resource, hard to carry, transport and store and only the ‘rich’ would end up having it.
    6. the brightest minds in the world work there, who, through their central planning are MUCH better than the free market in pricing assets and interest rates. How many free market participants have nobel prizes in economics? In fact, as Ben Bernake predicted, this subprime mortgage crises is contained and there is no contagion risk. Central economic planning is essential to the well being of the population. Witness North Korea and Zimbabwe who have stable governments (they don’t change the head of state every 4-8 years like the USA!)
    7. the federal reserve has been independent (and doesn’t buy government securities so it can’t influence or be influenced by the government)
    8. the unemployment rate has never been this stable for such a long time (under 10% for more than 3 months!)

    etc. etc.

    ;-)

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    1. Fred the Protectionist

      You put the US on a gold standard while there is a 700+ billion a year trade deficit and Fort Knox would be sucked dry in less than 6 months. Free Traitor.

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      1. longshotlouie

        Can you back up this statement?

        of course not, you’re a boob

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        1. Fred the Protectionist

          It’s a simple matter of mathematics, I know you Libertarians lack basic mathematical skills. Fort Knox only has about 300 billion in Gold, and the trade deficit is over 700 billion per year.

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          1. longshotlouie

            The price of gold is not stagnant.
            There is always enough gold.
            http://www.dailypaul.com/node/96496

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          2. Fred the Protectionist

            Gold is an INTERNATIONAL COMMODITY, it’s just a rock. A gold rock in the US is exactly the same gold rock in say Russia.

            If you Libertarian nuts were put and charge and the dollar went back on the gold standard than we’d be out of gold in a year or two and be back on paper money. Fruitloops.

            Why do you think Nixon took us off of the gold standard in the first place, he started this free trade nonsense and knew what would happen.

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          3. Fred the Protectionist

            And there isn’t “always enough gold.” The only thing that makes gold valuable above and beyond industrial applications is it’s rarity. There isn’t “enough”.

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          4. longshotlouie

            Simply saying so does not make it so, Deflectionist.
            http://www.dailypaul.com/node/96496

            More than enough gold, forever

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          5. Fred the Protectionist

            You Ronulans and Libertarians are totally nuts.

            If there were “More than enough gold, forever” than gold wouldn’t be any more valuable than a lode of Pig Iron.

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          6. longshotlouie

            Show us the math, Fled.
            Or would that expose the hole in your bucket?

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    2. Forest

      Since the advent of the Federal Reserve:

      1) One dollar invested in the United States Total Stock Return index – a pretty comprehensive measure of free market valuation – would be worth $9,549 today.
      2) Women didn’t ‘work’ before the advent of the federal reserve? Maybe ‘Men’ in the average family, with slaves, didn’t work as much as they do now? Aren’t there larger social constructs to consider than simply ‘Blame The Fed’? Why don’t we just think back to Hunter/Gatherer days? Why not think back to when infant mortality was 15%? Now that it is super-low do we credit the Fed for keeping more of our precious babies alive?!?! I mean, that has happened since the Fed was created – more babies live? Come on, terrible argument.
      3) Read This Time Is Different. Just because the advent of something doesn’t mean it will solve everything – i.e. panics happened before the Federal Reserve as well, simply getting rid of the Fed will NOT prevent panics from occurring, however Free Markets have also had a pretty shitty go of it lately (please don’t give me this ‘these arent free markets’ drivel). Nor is that also a valid reason to just abolish it. The socio-anarchist view of ‘well just get rid of it’ isn’t very applicable in this sense.
      4) Yeah, see what happens when largely unregulated mortgage brokers and financial institutions operate in a Free Market (Shadow Banking System)? They really tend to screw other people over and commit fraud? Funny how that happens. By the way, tone down on the ‘Everyone’ bit cowboy, home ownership rate in 1967 was 63.6%, in 2008 it was 67.8%, that would be HARDLY ‘everyone’.
      5) You forgot ‘hard to use as currency’ and ‘Is At 50% of It’s Inflation Adjusted Value over The Past 30 Years’. Funny how such a fantastic ‘Storage of Wealth’ can be worth 50% less? Imagine if that was your house? By the way, the dollar is as valuable now as 35 years ago – or i guess you could say it has doubled in value over the past 30 years relative to Gold.
      6a) Ron Paul was calling for ‘widespread social unrest’ in the 1980′s and ‘predicting interest rates will create hyperinflation’, instead Volcker broke the back of inflation and the United States emerged with a good 30 years of economic prosperity. And NOW Ron Paul knows his ass from any banking system because he has been prodding previously uninformed people to riot for THREE DECADES? Apparently a broken clock isn’t right twice a day, now it is right one every 30 years?
      6b) China has a pretty ‘managed’ economy wouldn’t you say? Their economy seems to be in the black, and scaring the pants off libertarians because they keep buying this ‘Fed Issued Toilet Paper’. Well, how many Nobel Prizes do they have? Do you really freaking care or are you reading off some list of sound bytes? If anyone in the Fed won a Nobel Prize you would summarily discount it anyway, so why even present it as a logical argument in the first place?
      7) Whatever. Buy another Ron Paul book. I would argue their independence scares people more now because of the economic climate and ignorance. See Volcker above. See Greenspan admit his cherished ‘free market self-regulation’ view, one that he held from childhood and spawned the ‘pro-gold’ quotes that libertarians so like to copy/paste, those same philosophies that Ron Paul also endorses, was an abject failure. Again, let the prone to act fraudulent and as thus take your money and screw up Free Markets handle everything?
      8) I thought you said earlier “the average family in the USA can get by with only 1 spouse working less hours now than ever before”, implying that ‘working less is better’? So ‘unemployment’ is bad, but ‘working less’ is good? Must be fun in that rabbit hole, alice.

      etc etc….

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      1. longshotlouie

        Big hole in your bucket, as usual.

        Describe a ‘free market’, Mattie

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        1. Forest

          Right, I forgot, because it is confusing to you, you rationalize a confusing world by believing there are no free markets in the United States – or really the world for that matter. Noone thinks for themselves, noone has freedom to invest, and every dollar, whether spent, saved, or earned in the United States is controlled via a larger conspiracy.

          But you knew I, as a servant to the Bilderbergers, was going to say that, right?

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        2. longshotlouie

          Stop your blathering and describe a free market.

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          1. Forest

            Would you ever believe in a ‘Free Market’ so long as there is a government/Bilderbergers lurking behind the scenes?

            Sad louie, very sad. Ron Paul’s idea of a ‘Free Market’ will never happen because there will always be some form of government – which will always give you ample reason to live in your rabbit hole.

            Isn’t it time for a Tea Party, AliceLouie?

            Do you have people telling you what to invest in or buy right now? Forcing you to buy one thing or another? Forcing you to not think of how to revolutionize an industry? Forcing you to not work hard and succeed? Forcing you to buy gold, US Dollars, or foreign currencies? Forcing you to not move somewhere else?

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          2. longshotlouie

            Focus, take an extra pill, and describe a free market.

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          3. longshotlouie

            Four days later, silence.

            What Forest realized is that one question at a time was going to blow a hole in his rhetoric. He just could not make it that obvious, so he would rather not say anything.

            lmao

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  9. Dfens

    Ron Paul wants us to go to a gold standard now that we’re the biggest debtor nation in the history of the world so that we can pay his Communist Chinese masters back in gold for all the paper money they lent us to get us into this debt. I guess if the Fed didn’t exist, Ron’s Communist Chinese comrades wouldn’t exist as well? Is that what we are supposed to believe? Or maybe they wouldn’t have all that paper money that’s not backed by any commodity to lend without our Fed, is that right MoRon? Heck, maybe they have all that paper money to lend due to their protectionist trade policies that have caused thier economy to grow at over 10% for a couple decades. Wouldn’t that be something?

    Here’s what the US Constitution actually says:

    Section 8 – Powers of Congress

    The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

    To borrow money on the credit of the United States;

    Funny how it doesn’t mention the nasty old Fed being required to borrow money.

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    1. Fred the Protectionist

      Section 8.

      The Congress shall have power to…

      To establish post offices and post roads;

      ___________

      Are you suggesting Congressmen get in the little Post Office buggies and manually deliver mail to you personally? Gee wiz.

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      1. Dfens

        Ok, but you’ve got to admit it would be a good bit less ironic if he hadn’t been in Congress (doing nothing except being the good earmark fairy, apparently) for 20 years. Clearly the buck doesn’t stop at Ron Paul’s desk when he’s one of 534, but we’re supposed to believe the buck will stop at his desk if he the Prez? Fat chance.

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        1. longshotlouie

          Please explain where you would have preferred for the money, paid in by Congressman Paul’s constituents, to have gone.

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          1. Forest

            So the path to smaller government is ‘Make Sure I Get My Earmarks’?

            Interesting, well good to know Ron Paul can talk a big game, but also be a hypocrite – I guess we knew that already though.

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          2. longshotlouie

            No comprende ingles, mattie?

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          3. Forest

            Si, yo comprendo ingles, porque? Escuchame.

            “Please explain where you would have preferred for the money, paid in by Congressman Paul’s constituents, to have gone.”

            Dude, the answer was NOWHERE. I would rather IT NOT HAVE BEEN SPENT OR PAID AT ALL.

            So to live in your world of hypocrisy i just have to talk a big game and do the exact opposite? OK, gotcha, understood.

            I LIKE SMALL GOVERNMENT – BUT I ALSO LIKE BIG GOVERNMENT!

            Does that work for you, Louie?

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          4. longshotlouie

            Debate by avoidance, huh?

            So they should never have had to send that money to DC in the first place?

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          5. Forest

            So earmarks don’t cause bigger government? So this money HAD to be spent? Really? Here are some examples of Ron Paul’s form of ‘small government’, link at the bottom has the full list.

            Ron Paul’s earmark requests for FY2009
            • $3.5 million for study of health risks of exposure to vanadium
            • $1.92 million for UTMB to study muscle mass loss in aging vs. microgravity (NASA related) at International Space Station National Lab
            • $26 million for Washington, D.C. “Reading is Fundamental” program
            • $10 million for Boston, Mass., “Reach Out and Read” national center
            • $2.2 million for City of Bay City for improvements to electrical wiring in low and moderate income housing
            • $7.02 million for Army Corps of Engineers to dredge Freeport Harbor
            • $400,000 for Army Corps of Engineers for feasibility study for Feeport Harbor
            • $25,000 to install security cameras at Fox Run Apartments in Victoria

            http://blogs.chron.com/txpotomac/2008/04/ron_pauls_earmarks_for_fy2009.html

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        2. longshotlouie

          You continue to avoid answering any question directly.

          Focus

          So they should never have had to send that money to DC in the first place?

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          1. txscutie

            Louie are you asking whether forrests statement that Dr. Paul’s spending on $3.5 million on vanadium research is legitimate?

            25000 on security cameras? I am new here but I see you don’t give much support other than ‘well, that is how it is’. Please help?

            It seems like Dr. Paul might be fleecing you. But I still love him, Dr. Paul 2012!

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    2. longshotlouie

      You really shouldn’t post when you are drunk as a skunk, Dfens.
      Do you have any idea what you were trying to get across in that post?

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      1. Dfens

        If only…

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    3. Devin

      You are a bluundering idiot, I cannot fathom what a life you must have to spend your time on Ronpaul.com just to talk shit on him. You don’t know what your talking about at all and that is perfectly clear to everyone in here. You have to remember who your audience is. You need to go somewhere else if you want your non-sensical ideas to be recognized. I wish that one day you have better things to do.

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      1. Dfens

        Scratch a 1st amendment loving Libertarian and find a fascist that wants not to debate any of the points you’ve made, but only to shut you up. Who would have seen that coming? I mean, except for someone who had already seen that same thing happen in both the Republican and Democrat parties.

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        1. longshotlouie

          Just beautiful. The illiterate pissant that won’t debate his own balderdash projects that onto another poster.

          lmao

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    4. Devin

      There must be some way to get this guy to shut up. I found no spam report button or anything. Anyways, you are an idiot and everyone in here knows it. You make everyone in here support Ron Paul even more because we realize how stupid a human is capable of being. Get a life and stop hanging out in these posts if you don’t like Ron Paul.

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  10. Fred the Protectionist

    The Federal Reserve to the Libertarians is like the Jews to the Neo Nazis, or Carbon Dioxide to the Greens, or Bush to the Democrats. It’s the big bad satan.

    You’re nuts.

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    1. longshotlouie

      Finally figured out what Fred is protecting.
      The staus-quo.

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    2. Lindsey

      Fred: I would have to say that if you substitute “the American people” in place of the Libertarians in your statement you would be accurate! You do know that according to Rasmussen 80% of Americans want the Fed audited. This issue is an issue of trust and the American people do not trust the Fed. Would you buy a used car from Bernanke?

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      1. Fred the Protectionist

        No, 80% do not want to audit or even care about the Federal Reserve. You Libertarians are delusional.

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        1. longshotlouie

          Freddie says, “Rass What?”

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      2. Forest

        Wow, according to that same Rasmussen Reports “75% Say Movie Ticket Prices Too High” and “67% Say Concert Tickets are Too Expensive”. So people want free stuff and everything to be audited? This is suprising how? This is pertinent why?

        In unrelated news, a recent poll by actual voters, only 2% of people wanted Ron Paul for president. Think on that for a bit too…

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        1. longshotlouie

          Mattie is still pulling the trigger on an empty gun.

          Thanks for keeping the thread alive.

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