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Saturday, December 19, 2009

Ron Paul: The Fed's Money Monopoly

by Congressman Ron Paul
Texas Straight Talk
Mon, Dec 14th, 2009 12:00:00 am



Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s false sense of security in the financial system. This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry under the misguided reasoning that more government could have stopped faulty lending practices, when in actuality it caused them. This bill would also greatly increase the powers of the Federal Reserve, which too many in Congress still see as savior rather than perpetrator in this mess.

One silver lining is that the amendment to audit the Fed is still attached to the bill, and if it survives the Senate, the Fed will no longer operate in secrecy. If any version of HR 4173 becomes law, the Fed will be intervening and bailing out more rather than less, as it will gain enormous new powers in addition to those it already has. Whatever happens, the Fed and its defenders have seen that people are becoming very wary of its methods of operation, and many are downright angry at its very existence. Never again will the Fed be immune from the scrutiny of its critics. This is very positive.

Because of legal tender laws that force acceptance of the dollar, the Fed has absolute power over the currency. This absolute power is leading to the absolute corruption of our currency. The money supply has doubled in the last year or so, which is extremely dangerous. The banks seem to be hoarding liquidity now but once these dollars make their way into the economy, hyperinflation and economic chaos will be a real possibility.

Every time hyperinflation rips through an economy, the middle class gets completely wiped out. It is very alarming to watch the purchasing power of an entire life savings reduced to that of a few pennies. Those savings represent years of real labor, real time, effort and sacrifice exchanged for corruptible pieces of paper that politicians and bankers can destroy at whim.

Legal tender laws force the people to become subject to this risk for the benefit of the rulers. Artificial demand for currency allows the authorities to create arbitrary amounts of it to pay for wasteful projects, like frivolous wars and an ever-expanding public sector. This saps the private economy of jobs and purchasing power, yet the temptation proves too great for politicians, time and time again. Our government is no different. Although our dollar has taken nearly a century to lose 98f its purchasing power, the fact that we are all obliged to participate in this slow burn of the economy on pain of imprisonment is anathema to the principles of liberty.

I introduced the Free Competition in Currency Act last week to free the people from these governmental threats. HR 4248 would repeal legal tender laws, prohibit taxation on certain coins and bullion, and repeal certain laws related to coinage. The prospect of people turning away from the dollar towards alternate currencies should provide incentive for Congress to regain control of the dollar and halt its downward spiral. Restoring soundness to the dollar will remove the government's ability and incentive to inflate the currency and keep us from launching unconstitutional wars that burden our economy to excess. With a sound currency, everyone is better off, not just those who control the monetary system.
End Ron Paul's letter.
**************************************

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"Social Security"? This one will make your head explode.

More like "Social Insecurity"

I received this by email last night. As Glenn Beck says, it will make blood shoot out of your eyes.
(Author Unknown)
According to the Trustees for the Social Security Administration,

" THERE WILL NOT BE A COST OF LIVING INCREASE FOR THE NEXT TWO YEARS IN SOCIAL SECURITY BENEFITS. ADDITIONALLY THEY WILL RAISE YOUR CO-PAY FOR YOUR RX MEDICARE BENEFITS " !

They, the Congress ( BOTH " REPUBLICAN AND DEMOCRATS TOGETHER ") say no increase is warranted because of the losses in gross national product and other cute things..

NOW HERE SPORTS FANS THIS IS THE ONE THAT WILL FLIP YOU OUT!! --

THE SOCIAL SECURITY ADMINISTRATION IS FUNDING TWENTY FOUR MILLION DOLLARS-- LET ME REPEAT THAT AMOUNT... SO YOU UNDERSTAND IT $ 24,000,000.00 DOLLARS FOR NEW ELECTRONIC MEDICAL RECORDS PROCESSING FOR OUR CONGRESSMEN AND SENATORS !!

THEY ARE OBTAINING THESE FUNDS and I QUOTE DIRECTLY FROM THE SOCIAL SECURITY WEBSITE...............
" THIS MONEY WILL BE COME FROM THE SAVINGS TO BE
GENERATED FROM WITHHOLDING " COST OF LIVING INCREASES FOR 2010 & 2011 in SOCIAL SECURITY BENEFITS FOR THE ELDERLY
AND A $2.00 INCREASE ON ALL MEDICARE RX BENEFIT CO-PAY"

Please pass this to ALL your friends and have them "PROTEST TO THE IDIOTS WE ELECTED TO CONGRESS " who by the way, have just voted themselves ANOTHER 3% SALARY INCREASE!!!

We must put a stop to this outright thievery! It is THE CONGRESS AND THE SENATE, BOTH REPUBLICAN AND DEMOCRATS, WE CAN'T FIRE THEM, BUT WE SURE AS HELL CAN NOT RE-ELECT THEM, and WE CAN IMPEACH THEM or DEMAND RECALL ELECTIONS !!! HOW ABOUT WE ALL GET TOGETHER AND DUMP THESE CLOWNS.

Just watch. They will spend this money and find the software doesn't work, dump the whole thing and go back to the old steam driven system just like they did with air traffic control several years ago. Don't worry though, they've got health care all worked out.

So here is what we CAN do....
All I ask is that you consider the suggestion here.

The entire Congress of the United States is corrupt. And I mean both Houses and I mean both major parties.
(With the possible exception of Ron Paul?)
I realize that a few Members of each House are trustworthy, but, as a group they are absolutely the most corrupt bunch to ever disgrace our Nation.

In November of 2010 the entire House of Representatives will stand for re-election; all 435 of them. One third of the Senate, a total of 33 of them, will also stand for re-election. Vote every incumbent out.

And I mean every one of them. No matter their Party affiliation. Let's start all over in the House of Representatives with 435 people who have absolutely no experience in running that body, with no political favors owed to anyone but their own constituents. Let's make them understand that they work for us...

They are answerable to us and they simply have to run that body with some common sense.

Two years later, in 2012, vote the next third of the incumbents in the Senate out.

We can do the same thing in 2014 and, by that time we will have put all new people in that body as well.

We, the People, have got to take this Country back and we HAVE to do it peacefully.

That's what the Framers of our Constitution envisioned.

I am also suggesting term limits on the NEW BUNCH --8 YEARS FOR REPRESENTATIVES AND 12 YEARS OF SENATORS. NO EXCEPTIONS. THE LONGER THEY STAY IN OFFICE THE MORE POWER THEY GET AND THEY LOVE IT AND WILL DO ANYTHING TO GET RE-ELECTED.
WE HAVE TERM LIMITED THE PRESIDENT -- NOW LET'S TERM LIMIT THE LEGISLATORS.

Please, if you love this Country, send this (as I have done) to absolutely everyone whose email address appears in your address book..

This thing can permeate this Country in no time. Let's make it happen.**

VOTE THE POWER ABUSERS OUT........LET'S TAKE AMERICA BACK !!!!!!!!!

IF YOU LIKE THE WAY THINGS ARE GOING IN OUR COUNTRY, THEN DO NOTHING........