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NEW FUND RAISER COMING UP http://teaparty07.com ... (more) Added: November 09, 2007 NEW FUND RAISER COMING UP http://teaparty07.com wont you help us make history!! Have you noticed? Ron Paul is picking up a LOT of support within the financial community. So far, these are the names of v... More
Added Dec 9, 2007
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Tags teaparty07 ron paul ben bernake cnbc financial fed federal reserve dollar devaluation currency manipulation
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Recent Comments (1639)
jhknight17 Says:
DAMN! He shut him the fuck up!!! hahahahahahahah robbing bastard! Ron Paul 2012
lovegrows2012 Says:
I encourage everyone to watch a documentary titled "One Third Of The Holocaust", which debunks and exposes holocaust myths and lies. (You can find it here on YouTube.) I did not create the film, nor do I know the person who did. I'm promoting the documentary because it helped change my worldview. We all need to do our part to spread the truth about the holocaust. Take care.
Majlerin Says:
"Each of the 17 "recessions" (...) were only corrected by credit/debt bubbles fueled by the Federal Reserve (...)" Ok, so you are indeed giving credit to the Fed for "correcting" the crisis. Seems about right. There's "nothing new about what's happening today", that's the whole point. Unregulated markets are much more unstable than regulated markets, and the Fed serves that purpose. It sets the optimal inflation rate and provides liquidity to banks etc. Leaving Keynesianism was a major mistake
Majlerin Says:
Most depressions and bank panics happened before the Fed. Q.E.D. And Ron Paul is impossible to take seriously.. he opposes the Separation of Church and State "lol"
rkymtntruther Says:
"lol" doesn't make me wrong. It only reflects that you have a sense of humor about your own misconceptions. Each of the 17 "recessions" as they are called since the great depression were only corrected by credit/debt bubbles fueled by the Federal Reserve and our currency's world reserve status, not savings of money or increased production. There have been 17. I tried to post the proof but youtube won't let me. You can google it if you'd like.
minja30000 Says:
Thats not true the money comes from foreign exchange reserves, it comes from the fed's balance sheet, and the value of the economy and the value the market gives it.
BenjiEDF Says:
5:52 That's Pinnochio checking to see how much longer his nose has grown and if anyone noticed!
MDethfan Says:
Ron Paul is for ending the FED by nationalizing it. There is absolutley no good reason why the FED acts as an independant agency that cannot be fully audited. Look what this one successful lawsuit agaisnt them turned up. The FED was ordered to reveal the names of banks that borrowed money at the so-called discount window during the credit crisis. /watch?v=ePgFy4TPA18
Majlerin Says:
ok thank you :) let me just leave with this thought: what is the alternative to the Fed, or to a any "central bank"? Would unregulated private banks, 'allowed to fall' according to nature of the markets, be better? Fuel growth, or bring stability? We can study how such a system would work by looking at what existed before the Fed. Today, given the highly flexible, unpredictable and globalized markets, the dangers are much higher. how banks fare w/o a central bank. food for thought
JoseyWales82 Says:
Well there you go. We finally have some common ground. I don't blame everything on the Fed. I believe theres plenty of blame to go around. I just can't buy that having the Fed controlling our currency is beneficial to us. We may never see eye to eye but I still wish you and yours the best of luck in the upcoming mess.
Majlerin Says:
When was the last big financial crisis in the US? The great depression? Q.E.D. Keynesian economics only started being applied after the great depression, so you can't blame the previous crisis on his economics lol
rkymtntruther Says:
You assume that we DON'T understand the "modern macro-economic and financial world". Most RP folks I've met have forgotten more about it than those who try to debate them will ever know. That won't prevent the aforementioned from THINKING they know more. Fact is, defenders of Keynes and others fail to realize there is nothing new about what's happening today. The fact that The FED departed from Keynes' own economic system "decades ago" is proof of this.
rkymtntruther Says:
You are absolutely right. Are you from Russia?
Majlerin Says:
lol. I'm not blindly supporting Keynes. But it is essential to understand the modern macro-economic and financial world. Also, Keynes himself defended a more protectionist approach than that followed by the US in the post-war (for ex, the Havana Charter and an universal currency, instead of Bretton Woods). Many people attribute the 2008 crisis to Keynes. Wrong. The Fed has deviated from keynes' economics decades ago, lead by Greenspan & Co, followed a more laissez-faire and non-intervention way
MarinRichard Says:
you had it going until you told us to read anything related to Keynes.
Majlerin Says:
honestly, you people should stop believing Zeitgeistian and conspiracy theorists alike, who know very little of economics... Try reading the General Theory of Keynes or some book on macroeconomics
Majlerin Says:
3) What I'm saying is if our current system is set up so its impossible to pay off our debt. Re-read my previous comment. No it is not.. Seriously man, read some history. Where does the "debt" come from? The Bush admin. war on terror! Did u know, but the US debt was MUCH higher before WW2. Many countries spend decades with higher debts without any problems. Eventually, if the economy does well, the debt lowers. To blame the national debt on the Fed is ridiculous. You can blame it on China lol
Majlerin Says:
1) It is private yes, as in owned by private shareholders, but public in the sense that it is state controlled: "Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate." 2) that crisis and many others. The number of market crashes and bank panics was reduced A LOT by the creation of the Fed
JoseyWales82 Says:
1)The Fed is not private?...wtf? Who appointed the shareholders and who do you have to pay to be appointed to the board of directors? 2) Yeah that crises came about through deception perpetrated by J.P. Morgan. A lot of smaller banks went under and he was able to buy them up for pennies on the dollar. 3) What I'm saying is if our current system is set up so its impossible to pay off our debt. Re-read my previous comment.
Majlerin Says:
1) the Fed is not private.. wtf? The board of directors is appointed by the government 2) the crise, crises, existed BEFORE the Fed. The purpose of the Fed was to address and help aliviate and eliminate the crises and banking panics! And it fulfilled that job well, but not perfectly 3) every financial institution suffers from inflaction and debt. How do you think the US debt post-WWII was halved? Every country, company of bank borrows money, it's inevitable. It's called Capitalism
JoseyWales82 Says:
You are still missing the point. The real crisis started with The Federal Reserve Act.The fact is, the control of our currency was handed over to a private institution. This institution lends the U.S. government some shiny reserve notes (dollars) in exchange for some for some other shiny paper (bonds). The problem lies in that the bonds the fed recieves accrues interest. How do you pay back what you owe plus interest? Borrow more. Do you see the flaw? Its a downward spiral of increasing debt.
Majlerin Says:
Not that it matters, because Americans will never elect any *real* president and give them the power to change anything. Be it Ron Paul or someone from the left. A compromising, appeasing Barack Obama, controlled by a republican congress is the best you'll get for the next decade or 2.
Majlerin Says:
Well, i went to search for some video. This one is simple, brief, succinct and summarizes what everybody should see in libertarians and likewise: /watch?v=3B0Q109uQ7o "Libertarian ideology; it may sound nice in the surface, but if you think it through, it's just a call for corporate tyranny." - Chomsky