Ron Paul vs. Ben Bernanke

Ron Paul has asserted for many years that inflation is a tax that benefits those who get all that freshly printed money first, and harms everyone else. Today, Fed Chairman Ben Bernanke agreed with that assertion, but failed to present a viable plan for saving the collapsing dollar:

The Fed is now in an impossible situation. It can’t solve the problem because it is the problem. Should Ben Bernanke follow Jim Rogers’ advice – shut down the Fed and resign?

Ron Paul comments on the need for reform:

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  • Abdul Munir


    Guys please help us get all the support we need to get a bill in parleament in the uk wich allows for a competing gold backed currecny.

    UK supporters please sign pettition hear

    Ron Paul has a similer bill in congress.


  • Dear all,

    It is good to see some lively comments here. I know many people are fed up with the Fed. The way it (and the previous privately-controlled ‘national’/central banks of the USA) was foisted on the American people was improper, to say the least. The way these organisations have been and are operated against the will of the majority of the American people is unfortunate, to say the least.

    However, history shows that radical actions can lead to radical mistakes, eg. the Bolshevik ‘revolution’ in Russia.

    It may well be that a central bank is not neccessary and that its functions, like inter-bank clearing, monetary policy management, etc. can be performed by another body or bodies. The US Treasury Department seems like an obvious candidate to house the body or bodies performing some or all of these functions.

    The Federal Reserve structure is reasonably sensible, although it is dominated by the New York FRB – the other regional FRBs are largely for show. However, how the system is structured is not the most important thing. It is the way the Federal Reserve system operates in practice which is very terrible in effect.

    The most important thing is to ensure that the system implements and operates the policy or policies that achieve the outcomes that the American people want. Presently the key decision-making positions in the monetary systems of every country are populated by people who are agents of special interests (whether they know it or not), which are against the general interests of 99.99% of all the people of the world.

    We have to develop ways and means to ensure that the monetary system of the USA cannot be used as a tool of special interests. We have to develop ways and means to ensure that the monetary system of the USA is a mechanism for delivering to the American people the outcomes that they want. This will also set other counties free to do what they want.

    This is the intent of the draft legislation developed by the American Monetary Institute. The draft legislation is intended to be the minimum initial rescue package focussed on the monetary system. There are a raft of other reforms that are neccessary, but these are not the focus of the American Monetary Institute.

    There are probably some holes in this draft legislation that need to be patched-up to make it water-tight. The American Monetary Institute welcomes any advice or suggestions for improvements that help to achieve this so it is ready to go to the House.

    A healthy public debate on the money issue also helps this cause. Ron Paul and the Ron Paul organisations are doing a great job bringing the money issue and other important issues like freedom and liberty to the forefront of political activity. Keep up the good work everyone!

  • FranCrws

    Alan Greenspan “Age of Turbulence’ was very well written and iiluminating for someone who as myslef is baffled by all the
    — “BS’ handed out bythe career shovelers

  • William Norcott

    The majority in this country don’t have a clue ,it seems the more educated the dumber they are. Yes we could shut down the FED/central bank who have been bilking us at least since the civil war ended but more recently 1913 thru 1933.They helped to collapse our economy so they could take over our monetary system. Roosevelt gave lock,stock and barrel away to them,everything we hold dear to us including every citizen from that day forward in exchange for bailing us out from bankruptcy. We still have the Dept of the Treasury to print our dollars. If we don’t bite the bullet know we will be buried alive later by the biggest collapse known to man. Then all of us will suffer and there will be now more United States of America. The rest of the world will occupy us just as Russia occupied the Russian block. WAKE UP AMERICA

  • Greg Nauman

    “Abolish the Fed? Well, then what? Just because the figureheads at the Fed appear to be irresponsible and incompetent does not mean all the people in that organization are.”

    ^Ask Abraham Lincoln what he did during the civil war era.

    Read the book “The creature of Jekyll Island” and you will answer your own question

    Goto and order the video or watch it on youtube for free.

    Read or study the historical statement of those that have been involved with the federal reserve and you will see what is going on.

    Even Ben Bernanke stated that the Reserve caused the depression.

    Currency is to be a mediam of exchange and that is all, Period.

    I will look at AMI but I highly doubt from your comments they are telling the whole truth.


  • “It comes down to this. If you hate war, oppose the Fed. If you hate violations of your liberties, oppose the Fed. If you want to restrain despotism, restrain the Fed. If you want to secure freedom for yourself and your descendants, abolish the Fed.” – Lew Rockwell, in his article “War and Inflation

    “A flourishing libertarian movement, a lifelong dedication to liberty can only be grounded on a passion for justice.”
    “…injustices are deeds that are inflicted by one set of men on another; they are precisely the actions of men, and, hence, they and their elimination are subject to man’s instantaneous will.”
    “A true passion for justice, then, must be radical — in short, it must at least wish to attain its goals radically and instantaneously.”
    “In framing principle, it is of the utmost importance not to mix in strategic estimates with the forging of desired goals.” – Murray Rothbard, in his essay “Why be Libertarian?”

  • Abolish the Fed? Well, then what? Just because the figureheads at the Fed appear to be irresponsible and incompetent does not mean all the people in that organization are.

    The world should have learned by now the bitter experience of throwing the baby out with the bathwater.

    There may be good technicians in the Fed who know more about actually running the monetary system of the USA than anybody else in the world. Would those people also be sent down the road?

    Look how badly that worked in Iraq, when the US-led occupation administration arrogantly put the entire Iraqi civil service out on the streets. It is an ongoing disaster. Is that what we want for the USA also? I don’t think so!

    The US Mint issues all the US coins debt-free. The US Treasury used to issue US legal tender notes debt-free until 1971.

    Whether it is the Fed, the US Treasury, or some other national monetary agency which administers the national monetary system is of less importance than who determines the national monetary policy decisions. In a democracy like the USA, these decisions should be made to do what is best for the general well being of the American people, and be made accountable to the American people through their elected representatives in the House.

    To this end, the American Monetary Institute (AMI) has developed 2 items of draft legislation to enable this transformation without undue upheaval. These are the Monetary Transparency Act and the American Monetary Act. These items can be viewed on the AMI website at along with many other informative and accurate materials on monetary matters. The AMI welcomes helpful contributions to, and participation in, the development and promotion of good means to good ends, for all of humanity and nature.