by Ron Paul
While much has been made recently of the President’s unconstitutional appointment of Richard Cordray to be director of the Consumer Financial Protection Bureau (CFPB), lost in the hubbub has been any discussion of the unconstitutionality of, or the need for, the CFPB itself. Proponents of the CFPB claim that this new bureaucracy will help consumers by protecting them from fraudulent activity. In reality, it will only expose consumers to more financial harm.
Housed within the unconstitutional Federal Reserve, and funded not through Congressional appropriations but through the Federal Reserve’s interest revenue off the trillions of dollars of US government debt it holds, the structure of the CFPB ensures that it is run by unelected, unaccountable bureaucrats, with no effective oversight from Congress. Given broad power to regulate the activities not only of banks, but also of any other entity which the government deems offers a financial product, there is almost no limit to the scope of financial activities which the CFPB can oversee.
Giving impetus to the CFPB’s creation was the poor reputation of Wall Street banks and financial firms that developed as a result of the financial crisis. Banks which received trillions of dollars of taxpayer-funded bailouts turned around and shafted their customers by foreclosing on homes, raising credit card interest rates, and introducing numerous new fees.
But rather than keeping Wall Street in check as its proponents allege, the CFPB will end up placing further restrictions on the ability of Main Street Americans to engage in productive financial endeavors. Current law already allows only the richest Americans to invest in potentially lucrative ventures such as hedge funds because such investments are deemed to be “too risky” for the average American to invest in. The government in its paternalistic wisdom treats American investors as too stupid to know what to do with their own money, and “protects” them, supposedly, by keeping them poorer than they otherwise would be. We can expect even more of this once the CFPB is running in full stride.
The CFPB will further harm consumers by encouraging them to use only financial products which have received the Bureau’s approval. Many consumers will assume that these products are “safe”, and will fail to engage in their own due diligence, with predictably unfortunate results. We have seen this with the stock markets and the cases of Bernie Madoff and Allen Stanford, where investors trusting the SEC to prevent fraud ended up suffering huge losses. Social Security is a similar case, in which millions of people placed their trust in the government to take care of them in their old age. The inability of Social Security to pay its future obligations is well understood but ignored, and millions of Americans will likely once again learn the hard way that the government cannot be taken at its word.
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“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” John Adams 1826
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Ron Paul… Our only hope.
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*waste
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It’s not enough to say “Vote Ron Paul” In order for Dr.Paul to win, HE NEEDS THE PRIMARY. That’s the toughest part. IF YOU WANT TO VOTE IN PRIMARY YOU HAVE TO BE REGISTERED REPUBLICAN! If you don’t switch parties in time, (3 months ahead in some states from now) YOU WILL NOT BE ALLOWED TO VOTE!! Go to BLUEREPUBLICAN(dot)ORG and register ASAP! Copy and paste this everywhere! Thumbs up to help this be on top. ▬▬▬▬▬▬▬▬▬▬▬ஜ۩۞۩ஜ▬▬▬▬▬▬▬▬▬▬▬▬▬
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I may actually volunteer to help count the votes for my state’s primary, just so I can make sure Ron Paul gets the correct number of votes.
»crosslinked«
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People don’t waist your time, or give this fucking troll the satisfaction of an argument.ju88ff goes around to all the Ron Paul site looking for attention… don’t waste your time… you may distract him from sucking on Obama’s balls while opening his welfare check..
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I think we have a dilemma in this country where there is no consensus on what is our constitutional rights and if the constitution matters. This is a serious problem. You can see this obviously by those in congress and citizens on the left who don’t even believe in our constitution. We even have a sitting liberal Supreme court judge going over to Egypt and calling our constitution antiquated. She should be impeached!
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Thank you, for all you are doing. You are exposing the corruption that controls our lives, and you tell Americans the truth. The current Federal Government represents the 1%. (their owners)
Your words give me hope for a better future. peace….
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He sounds so different on the phone, anybody else think so?
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I doubt Ron Paul will win Colorado, Minnesota, and Missouri tomorrow. He could prove me wrong. Maybe he’ll actually win something in his miserable life.
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It just keeps getting worse.
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111.3 million Americans tuned in to watch the Superbowl, but not Ron Paul. Ron Paul is anti-american!
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we need this man!
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Cordray one of the worse things to ever happen to Ohio!
RON PAUL 2012
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I wish you were the congressman in my district (and every other district).
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Dr. Paul, you are MY President.
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I like it when he says shafted lol.
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Get money outta politics! Pickpockets are at the top
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american people vote for ron paul
he is your last hope !!!
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Americans need to know the truth about the voting fraud… What is going on?! Is this freedom? This is scary.
“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” -Abraham Lincoln
RON PAUL 2012!
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Meeedias scared of you rooon! Keep truckin!
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End the FED.
Arrest the criminals behind it.
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I would say EVERYONE take your money to the private credit unions, let us all do a run on the banks as they use to do. Take these s.b. down quite a few notches. Credit Unions do loans also… we need to stand up to the banks/government.
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“I have so much respect, love and gratitude for this crusader of truth. For years, the mocking, ridicule, the jokes, just makes me sick that a nation FULL of village idiots have not waken up with all the truth to be seen right in their faces.” I couldnt have said it better myself.
Ron Paul 2012!
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1 dislike? Barack Obama.
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I just wish he would get a little more inspirational, poetic, uplifting when he speaks. A leader must be able to inspire. I agree with what he’s saying, but he does come across as a bitter, grumpy old man, and we don’t need any more people just whining and complaining! He should study up on Reagan’s speeches, they were epic. He’s got to get that happening if he wants to debate 1 on 1 with Obama. With the right content in a speech you can let the people know you care about what they care about!
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you raise a good point president
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I have so much respect, love and gratitude for this crusader of truth. For years, the mocking, ridicule, the jokes, just makes me sick that a nation FULL of village idiots have not waken up with all the truth to be seen right in their faces. I pray for you and your family sir, and will continue to pass on the truth as you continue to do. Thank you so very much for caring.
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SEND A SUPPORTER TO EVERY CAUCUS POINT WITH A CAMERA AND A NOTEBOOK TO RECORD THE VOTES
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Ron Paul 20never. Barack Obama 2012!
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I doubt Ron Paul lost Nevada, unless Vegas is filled with retards
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WATCH copy,paste = ON MARCH 2, 2012 AN AMERICAN NAVAL SHIP WILL BE ATTACKED AND SUNK – Get this world Wide
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I see Barry Put a big shot for JP Morgan in charge of the Banking Rules committee!
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Florida state became famous as the center for the election tampering
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My question is, Why can’t the average American understand this simple message? Why are people being lead willingly to “slaughter” like sheep?
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