Ron Paul Introduces Bill to Cancel America’s Fictitious $1.6 Trillion Debt to the Federal Reserve & Lower the Debt Limit by the Same Amount

Ron Paul introduced a bill (HR 2768) that would cancel America’s $1.6 trillion debt to the Federal Reserve and simultaneously lower the debt limit by an equal amount.

In a recent interview Ron Paul had argued, “We owe $1.6 trillion to the Federal Reserve. But where did they get the money to buy our debt? Well, they created it out of thin air.

[pullshow id=”debt”]So taxpayers keep working hard to pay the interest to the Federal Reserve, as well as to finance these bonds if the Fed wants to take the monies. So I would say that is not a real debt. [pullthis id=”debt”]It’s a fictitious debt. It’s a dishonest debt[/pullthis], and that we’re not obligated.

HR 2768 currently has no co-sponsors. The bill was referred to the House Committee on Ways and Means. The full text of the bill will be available soon.

  • Tommy

    Michael…. your an idiot. Nuff said.

    • Michael

      Tommy, it’s ‘you’re an idiot, not your an idiot. But everything I said is true Tommy. The bit of support Rue Paul had before is waning quickly now and soon will be a bad joke. Think of picking another whackjob rabid rightie to support Tommy. How about Perry. He’s right in there with the craziest of the religous righies! Just right for people like you Tommy.

      • kyle

        And what would your solution be, Michael?

        May i ask, what is your opinion of F.A. Hayek? Or, Ludwig Von Mises? Or, the Federal Reserve?


  • Michael

    The debt ceiling deal has passed. The Repubilcans know they have made a huge gain. Most of the right understand that they should be happy. The left knows it should be hanging it’s collective heads on Obama’s sellout.

    So that leaves the only really unhappy people being the Dem supporters and they are not going to support ron paul. Ron paul’s support, what it was and that’s not much, will quickly melt away. As will the tea party because they have been co-opted out of existence by the mainstream Republicans.

    But perhaps that was Obama’s plan all along? Sideline the crazies as a temporary cure for the mess the tea party has made of politics. Good bye Ron Paul. You are now yesterday’s bad dream.

    • Jim

      You are amazingly stupid if you think in terms of parties winning or losing. For the most part, our so called two party system is the same beast that has two heads. Differentiating between them is just a game to divide peoples attention.

      The real two party system description would be something like this. American people on one side, globalist fascist elitists on the other.

      Try looking at it from that reality, globalists against the people of the world, because that is what it really is.

      • Michael

        Jim, I thinking in terms of what ‘is’ in government, not in terms of what you want to be and what you think your agenda will make of politics. You know it’s all a pipedream with Ron Paul as much as I do.

        What ‘is’ the situation is that it’s all about parties winning and losing. None reallly care about debts and deficits as much as they care about where their campaign money is coming from. And you know that Jim because you are a follower of Ron Paul.

        But if you want to look at it on a world scale then globalists against the people of the world works for me. Sort of. What really baffles me is that you think you are supporting people and people’s basic rights but you’re really right in bed with globalists and especially the Koch brothers. All you baggers are terribly confused and even moreso now that Ron Paul’s agenda has been defused by the Republican party. It’s politics for pay as usual pal and it’s all about who is going to take the heat for the mess that will be caused by the deal.

        And in the meantime, Ron Paul is history just like a bad dream.

        • lgn

          I think you’re delirious from too much yerba mate and wormwood tea, dude.

        • Jim

          Well, as usual, you have a bunch of unrelated, confused, random sentences, that sort of have some of the same words as what the point or topic was, but says absolutely nothing, and neither proves nor disproves anything.

          I could almost put up with you if you at least had some kind of real point, but your sole purpose seems only to be to discredit Ron Paul at the expense of logic, truth, reason or anything else. You can’t even come up with any TANGIBLE reasons, you make assumption after assumption with no substance. Back it up Michelle, or shut up.

        • Jim

          You throw the same labels around that the media does. What EXACTLY, is your definition of a, “teabagger?”

          How did racism even come into this conversation? This isn’t about race you moron, this about survival of America and her people, ALL her people. It actually extends beyond our borders to include the ENTIRE world.

          It is the elitists against the whole darn world. Everyone who isn’t in their country club is a slave, regardless of race, creed or any other pigeon hole you want to categorize people in.

          You have no clue and are wandering around lost in a miasma of perceived reality. The confused and incoherent ramblings of a drunken man.

          • Thank you for holding your ground without succumbing to an outright “p_ssing match.”

            I found myself cheering at the unalterable truth in your thinking.

            Bravo, Jim! (whoever you are.)

      • Michael

        Oh, and Jim, the biggest part of the true agenda of the tea baggers was racism. That should have been stamped out in the early beginning and then the movement could have perhaps been built around decent politics. Racism is cohesive Jim but it’s only cohesive in a small way. The tea baggers have not been able to prepare America for the 4th. Reich yet and so a party built around racist hate can’t succeed.

        Goodbye to Ron Paul and I wish only the worst for the racist pig that he calls his son.

        • Libertarian777

          If Ron Paul is racist how come he supports the 2nd amendment? So you’re saying hitler allowed Jews to own firearms? And blacks were allowed to own guns 150 years ago?

          Your argument is inconsistent. At least if you’re going to attack Ron Paul be consistent. Don’t say he’s racist then try and argue away the fact that he wants individual liberty. See unlike you, Ron Paul sees each person as an individual. It’s not about being black, white, Jewish, Muslim, Christian, gay, straight or any other moniker. It’s about being human and having individual human rights, such as the right to own and keep property, the right to defend yourself. There are no ‘rights’ that you have that can abrogate someone else’s right. This is where the Dems fall apart. They talk about a gay ‘rights’ yet want to force theft of private property (income taxes). The republicans talk about property rights (no or low income taxes) but are ok with using force to take property (Iraq, Libya). Each party violates basic human rights, but pretend to argue amongst themselves about irrelevant matters (like the debt ceiling debate. There were no cuts at all, budget next year will be higher than this year. 100% guarantee on that

  • Marty

    I am a far left libertarian and Ron Paul will have my vote on the GOP ticket. I am afraid that he will not be endorsed on that ticket because “the good ol’ boys” are afraid of his ideaolgy. I am behind his ideals and will urge my representatives and congresspersons to support this legislation!

    • Michael

      Marty, there’s something you should know before you go on with your life. If you’re libertarian then you’re either far right or crazy. Try to straighten up your problem before you get out of your teens Marty.

      • K2000k

        The political dictomony you are using is flawed but common, the simplest, and the correct way imo, to measure political leanings is to assign the far left as having total government control over your life, so thats where your facists, totalitarians, and communists go, and the far right is where the government has no control over your life, anarchy. According to that metric libertarians fall to the right of center on the scale, while most progressives, neoconservatives, socialists, liberals, and social conservatives fall to left of center.

        • Michael

          You can’t redefine the political spectrum to suit your temporary agenda k2k.

          • lgn

            My first point. You are both wrong, libertarians are neither left or right, but closer to anarchy, with constitutional protections in place. Right being social control (social-conservative), left being economic control (socialist). Neo-conservatives (nazis), neo-socialists (soviets), and the like tend towards authoritarianism. I’m not sure why Marty would support Ron Paul if he is a far left libertarian, as Ron Paul supports open and free economics and trade between individuals and nations. If you regulate trade, your a leftist, if you regulate society, your a rightist. Michael, you also don’t understand the political spectrum. Try this, you’ll find that most libertarians are probably center to center left, while maximizing freedoms for both:

            My second point. Democrats and other individuals that promote themselves as “far left liberals” also support policies like gun control and attack religious institutions, even pressing an atheist agenda. These and other policies (the attempted circumcision ban in San Francisco for instance) are not socially liberal. They do not maximize individual freedom, and they reek of authoritarianism. Using “democracy” to defeat constitutional protections of minorities is also not socially liberal. The minority in question may not always be popular, today it just happens to be the rich. I think the greatest trick the political pundits and politicians have played is hoodwinking people into thinking these are left wing policies, and the left is looking out for the “common good.” It truly is a travesty, one that can only be overcome with education and truth.

  • Starving Artist

    Every one that voted for this dept hike bill, your message to the American people is that solution to over your head dept is as follows:” If you find yourself maxed out on all the credit cards and unable to make your payments just get another credit card and max that one out too. Just don’t think what will happen six month later!” Everyone that lives by that mantra eventually has to file bankruptcy unless you can find a new job that pays 10 times more. Of course the government does not know what “Jobs” is. I have never heard so much talk about creating jobs, while at the same time so much action to destroy the job market. I have to conclude these people are insane! Geigner and Bernanke should be indicted for lying to the American People. Can they not arrest US citizens for lying to the Federal Government? Why do these people in Washington get to outright lie and do it with impunity?

    They day approaches where 70 cents of every worthless dollar is confiscated as taxes. Hell why can’t we just give every WORKING citizens a printing press and let them print money when they need it! At least it would actually go in to the various communities instead of bankers, and stimulate the economy.

    I can begin to express how disgusted I am. I will vote Ron Paul!

  • matt

    why does this kid i work with waste so much time on this shit. maybe i dont follow cuz you guys have some stupid views. stop your nonsense. this kid i work with doesnt work at work cuz his “views” get in the way. blah blah blah

    • lgn

      Why do you come to a forum and generalize an entire group of people based on one experience?

    • Ronin

      Be thankful the “kid” you work with is working and not just on the dole. Also be thankful that he cares enough about your and his liberty to try to get you to understand the value of said liberty. If you don’t comprehend the direness of the current situation in USA, I strongly suggest you do some studying about what the Founding Fathers intended for the nation. Start with Thomas Jefferson.

  • Tommy

    THANK YOU RON PAUL!!! Now, if only we had more people in congress like you to actually get this passed.

    I called my NC Rep Renee Elmers office and told them to tell her to support this bill. I doubt she will since she voted yes to the BS debt limit bill the other day but who knows. I sent her an angry email about voting yes for that other bill as well.

  • Jim

    LOL, I love it. Let them pass the debt ceiling bill, THEN introduce a bill to remove the fake debt, including the newest one. GREAT MOVE.

    It is chess after all. The globalists are not going to stop until we MAKE them stop. You better understand this or we will keep getting walked on.

  • Anthony

    Are there any Ron Paul supporters in Santa Clarita Ca,that would be interested in getting together to plan support for Ron Paul and the ideas of limited government?If so I would love to chat and take some action..Please no weirdos or anyone with ideas that are not peaceful.
    [email protected]

  • Douglas

    OMG the entire Global economy is under its influence through CRF.

    • Douglas


  • Douglas

    Ron Paul you have my vote and devotion on making the Federal Reserve be made accountable for their actions, with all incriminating evidence my devotion is to bring justice upon them!

  • Kathy

    Dr. Paul, you will have my vote in the Republican primary. I hope many others will join me in supporting you. You are the only one who can make a significant difference in Washington. In addition to this bill, please introduce legislation against formation of any “Supercongress” committee. Any such group that disenfanchises our elected representatives, disenfranchises all of us. Where in the Constitution is there a right to form such a “congress” which such vast power? We the people do not agree to that!


    Reverse tax the Fed’s stock holders at 105% of ALL PROFITS TO DATE since their inception to recoup our loses to those exploitative bastards.

  • Jon
  • Sharla Evans

    I can’t wait to see when the bill is available to read myself. 🙂

  • tj

    lol….now, now…beady-eyed Bernanke claimed on 60 Minutes that the Fed never printed money…

    but, if you looked more closely, those beady-eyes blinked even faster when he was making that statement…and the foolish interviewer never called him on it…you, see, the FED did not actually “print” more money, they simply deposited the money into the banks that held those particular T-bills…he told the truth while lying

    now, the government wants to borrow more money. So, since no one believes in the “full faith and credit of the US government” anymore, you would think interest rates will rise to account for this added risk. BUt, dont you fear, the FED is hear to artificially keep interest rates low. Pump more money into these banks, who in turn will bid on these treasuries, and thus, keeping yields low…

    the result? CPI hyperinflation continues….$5/gallon of gasoline within a year…and this after enduring over 35% inflation over the past year

    the price of gold has more than doubled…nearly tripled… since the Dems took over spending in 2006…the spending will not end soon

    Ron Paul 2012…you are either for FREEDOM or you are not

    • TruthSeeker

      The Banks are losing nothing by the low interest rates they are charging! After the bailout new fashion, low interest does NOT mean much to the banks, since the bailouts are much more profitable. Why do banks have to worry about profit off higher interest rates? Taxes paid as interest on the national debt are just another venue for central banks to make their profit + the bailouts!

      Kill USURY
      Kill the bailouts
      Hold both illegal and the game of money fraud is over!

      Central banks have no legal authority to charge us interest on the fictitious national debt. The loan has been fraudulent and hence VOID! Our Treasury can create its own money interest free. No reason to borrow!

      Support Ron Paul on bill (HR 2768)!

  • FedupwidFed

    Ron we are behind you 1000% you lead and let us know how to help! Victory in FREEDOM!

  • Starving Artist

    I am so disgusted with Washington. I don’t know where to start. If the Republican Party does not nominate Ron Paul the whole party can go to hell. I don’t trust anyone in that good ol boys club. They are all bough and paid for.
    Ron is the only one that has any credibility and the right ideas!

  • Ric Sterchi

    It’s hard to believe we do such a great job protecting Japan and Germany’s boarders and can’t safe guard our own….

  • PeoplePower

    Ron Paul is amazing listen to him he knows what he is talking about, pass the bill & end the federal reserve’s bs debt

    Go Ron Paul 🙂

  • Beverly Howard

    This just goes to show what a bunch of crooks we have in Washington office. It was a fictitious debt that all of the banks and credit cards created also when they decided to jump everybody’s interest rates on credit cards up to 30% interest rates when the people had had good credit all of their lives and had always paid their bills. There was no excuse for it. And after the credit card companies raked the American people over the coals, along with the mortgage bankers, then they went whining to Washington about all their defaults. They created the dilemma….false losses on paper when they would have continued to get paid had they left people’s interest rates at the rates the American people had agreed to…and guess who got to pay for that, too….the American taxpayers because Obama and Bush both bought into that sham.