Ron Paul: End the Fed by Allowing Competing Currencies

Will Ron Paul use his new position as Chairman of the Domestic Monetary Policy Subcommittee to deliver the coup de grâce to an embattled Federal Reserve by auditing its gold reserves and pushing for the legalization of competing currencies?

Date: 12/14/2010

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  • veradinx

    We are at a crisis stage in America and the world, the final clash of two opposing schools of thought: Keynesian and Austrian Economics. The Federal Reserve is a child of Keynesianism, a printing press responsible for weakening free markets, inflating govt and money and the boom/bust cycle. Austrian economists believe in money backed by commodity which RESTRICTS the scope of govt and empowers free market operation. Read ‘What Has Government Done to Our Money?’ for a clear picture of the Fed.

  • WillSee11

    Ron Paul is right. The Fed will end itself before we hold these crooks accountable. We don’t need a “Gold Standard” because we ALREADY HAVE ONE, and that is why gold and silver are shooting way up compared to worthless Fraudulent Reserve Notes. We do need competing currencies, and gold and silver should be traded at banks the way they were in the US years ago, What we need are ways to trade without the banks involved.

    • You don’t understand what the Gold standard is. Nixon took us OFF the gold standard. Our money has been worth LESS ever since. Look up “Nixon Shock” if you want to inform yourself a little.

  • I say you’re right! and I think you’ve tapped on the very essence of the issue…”expectation”… we’re expected to be an X and not a Y. the economy is not and “end” or goal, it is a means to an end. The big question here is what is the goal? to make a few rich and impoverish the rest? to make sure everyone is secure in their liberties? what is the goal? self preservation? why are we busted or heads and backs over this crap? fear? love?

  • I say you’re right! and I think you’ve tapped on the very essence of the issue…”expectation”… we’re expected to be an X and not a Y. the economy is not and “end” or goal, it is a means to an end. The big question here is what is the goal? to make a few rich and impoverish the rest? to make sure everyone is secure in their liberties? what is the goal? self preservation? why are we busted or heads and backs over this crap? fear? love?

  • If the fast-food gets cheaper we’ll probably get as a nation even fatter and unhealthier, too! That’s besides the point though. This concept of employment and money that seems to expect everyone who comes into this world to have a useful function… I guess my argument is that I don’t see how that can be practical if we want to have full production in an efficient manner, without tipping the scales of the economy completely towards the owners until they completely own the country?

  • Because Americans are stupid. LOL

  • geehuckwow

    Economy?? Hey, lets make it legal to work and own a home. If these necessities are taxed, then they are illegal, and regulated by banksters and crooks. Regardless what happens with the fed or the dollar, if you tax labor and primary housing, you lose. Get real! The gold standard has nothing to do with anything. We haven’t had a gold standard, and taxes go up and are ridiculous anyway. (It’s called “theft”). Federal, state, county, and city extortionists – causing rape and child molesting, too!

    • Citizen

      geehuckwow,

      You are correct, its a Spend Thrift government gone mad with taxation on the essentials of survival.

      However we have to start somewhere and that starting point might as well be returning the Power of Sound Currency back into the hands of the Common Citizens.

      Once real tangible commodity money, is allowed to becomes a competing legal tender, the FED’s “depreciating” paper money will eventually refused as payment.
      People want value and stability in their purchasing power. two things the FED is failing to provide given the heavy QE2 dilution the are engaged in.

  • Citizen

    Citizens of America

    The simple act of permitting “Competing Currencies” would eliminate the FED Reserves power to dilute and destroy our wealth.

    Citizens would be free to transact business in British Pounds, Euros or Yuans to preserve their purchasing power.
    BUT, a prudent citizen would likely hold gold and silver coin as the ONLY way to step out of the vicious government currency debasing policies which dilutes everyone’s wealth.

    But the FED and its Member Banks are hell bent on taking your wealth and shoring up their house of cards. Make no mistake, WE THE PEOPLE are the sheep they are fleecing with their self serving spend thrift policies.

  • Soinds weird …but very true!!!

  • remsensor

    You know how some countries like Venezuala for example have that one supposed “president” or government this is supposedly a democracy but everyone around the world knows its a bunch of bull shit? You know how there is always that one guy all the people actually want to win the election against the dictator but some how don’t? Well sadly, I am starting to think that Ron Paul is the guy everyone wants to win but doesn’t. The u.s. is on brink of civil war and the world is close as well…

  • trulynot

    I get the feeling this guy is going to get bumped off, he is just too aware. 🙁

  • RonPaulWI

    End the Fed, End the IRS, Stop Property Tax and elect Ron Paul!

  • masflojo

    Wow, the mainstream media has been very fair to Ron Paul lately. Has hell frozen over? Too bad its taken so long for him to get the respect he deserves.

  • InfoSeeker93

    End Ron Paul! End Tea Party for being morons with 0 economic knowledge. Helping the Jews enslave us with a Gold Standard… Have you dumbasses have no idea what u all are trying to get us into? Fiat Currency is way better then a Gold Standard. If you dont understand economics then visit jewishracism.blogspot.com to learn it!

  • InfoSeeker93

    End Ron Paul!

  • ecopsych101

    by the way, we can use gold and especially silver as a currency.

    Example: Find a baby sitter who will accept an ounce of silver for the night, buy a used car from a friend with gold and silver. Shop only at owner operated businesses and deal in gold or silver whenever you can.

  • MrGb1965

    Audit the CPI

  • he doesnt want to be

  • aragornsargonath

    If we can’t use gold or silver as competing currencies atm, why don’t our individual states make their own currencies since they can?

    • Citizen

      States can and should mint their own bullion currencies.
      BUT
      the federal government must permit the use of an alternate “competing currency”, since the Constitution mandates that the government “regulates” the currency.

      Gold or Silver bullion currency need only be marked with an honest WEIGHT and PURITY to become a legal.

      No denomination needs to be defined, it could float with market conditions.

  • srpopei

    what about those bitches running their mouth all over the jewmedia. Instead of
    running their asses and service the men…insane world we live in.