Ron Paul & Dylan Ratigan: Cancelling Debt Held By The Fed

Video - Dr. Paul with Dylan Ratigan - Is Debt Cancellation An Option? - July 13, 2011

For anyone who missed this clip the first time around.

UPDATE - TIME Magazine has picked up the scent and endorses the idea.

UPDATE - Liberal economist Dean Baker supports Paul's plan.

Ron Paul shares his thoughts on Congress cancelling the $1.6 trillion in Treasury bonds owned (accumulated during QE1 and QE2) by the Federal Reserve as a one-time event to alleviate the time constraint of the August deadline for debt ceiling negotiations.

Paul has been floating this idea for the last several weeks, though it has yet to gain much traction.  Interesting discussion.

You might not have seen:

Dr. Thomas Woods Explains Why Ron Paul Is The BEST Candidate For President In 2012

Comments

[DailyBail]

BIRMINGHAM, Ala. (AP) — Alabama's largest county is laying the groundwork for filing what would be the largest municipal bankruptcy in U.S. history, over a more than $3 billion debt for its sewer system.

http://news.yahoo.com/ala-county-readies-possible-record-bankruptcy-155646239.html

[DailyBail]

WASHINGTON (AP) — The Internal Revenue Service is making it easier for some "innocent spouses" to escape responsibility for the tax debt of their husband or wife.

http://news.yahoo.com/irs-eases-liability-rule-spouses-tax-debt-170418120.html

[DailyBail]

So It Begins ... Chicago Mercantile Exchange Slashes Value of Treasury Bills, Citing Volatility

http://www.washingtonsblog.com/2011/07/so-it-begins-chicago-mercantile.html

[DailyBail]

Destructive Force of Bubbles Created By Fed And Greenspan - Dr. Marc Faber

http://revolutionarypolitics.tv/video/viewVideo.php?video_id=15850

[DailyBail]

'Germany will turn out light on euro - system defective by design'

http://revolutionarypolitics.tv/video/viewVideo.php?video_id=15840

[DailyBail]

Edwin Vieira, Jr. on the Fed's Transfer of Wealth

http://www.thedailybell.com/2725/Edwin-Vieira-Jr-on-the-Feds-Transfer-of-Wealth

[TR]

I'm afraid. Spend more on DEFENSE.

http://www.reddit.com/r/politics/comments/j0tek/the_real_american_budget_problemdefense_spending/

http://www.warresisters.org/pages/piechart.htm

[Oberon4life]

I wonder; if Ron Paul ran as a democrat, would he be receiving the support of the mainstream media? What exactly is it in his message that they wouldn't like?

[tom dee]

It would be a positive to just cancel the debt held by the Federal Reserve. The federal reserve is a private bank so this could be done by putting the Federal Reserve into bankrupt court. It should actually go under chapter 7. Getting rid of the federal has only positive things. It is an organization which was created by foreign banks and JP Morgan. It is an amazing organization formed in a method that actually makes it a monster. Recently a freedom of information court action was ruled not correct since the federal reserve is not federal and subject to the sun shine laws. The very fact that it has sent so much of our money to foreign banks along with a refusal to even tell how much is enough for me to believe their is no reason to keep the monster aka federal reserve.
Many warned against the monster and Andrew Jackson actually killed the monster once only to have the evil once blackmail W. Wilson in bring the dead bank back. The major promise of the new federal reserve was a stable dollar. Twenty years after being back the federal reserve debased the dollar by 40 percent and stole all the gold of the nation. In the 98 years of the federal reserve the purchase value of the dollar has dropped over 99 percent. Not a very good record on their claim most important duty. Push the monster into bankrupt court and let the bankers take a hair cut. All that will happen is they will get smaller bonus checks.

[Cheyenne]

Stiff the Fed out of $1.6 trillion? Beautiful. Does any other presidential candidate from either party understand the banking and credit system in the U.S. like Ron Paul? Forget it. They're completely clueless, so what comes out of their mouths about money and debt has its source with the self-serving bankers themselves. The rest of the field, frankly, is a collective financial joke, a bunch of sock puppets who get used by the bankers like $2 whores from sunrise to sunset.

"Ron Paul has raised more 2012 campaign donations from active-duty military personnel than all other GOP candidates combined."

This invites a second comparison of Paul with the rest of the field: who but Paul fiercely opposes the wars? No one, that's who. What does the military's support of Ron Paul tell you about these wars?

And yet the sheep go on gobbling up TV and bleating their approval...

[Cheyenne]

"Recently a freedom of information court action was ruled not correct since the federal reserve is not federal and subject to the sun shine laws."

Oh? Has some legal development transpired since the Fed got pounded into the sand by Mark Pittman in his FOIA suit? To wit:

"The requirement of disclosure under FOIA and its proper limits are matters of congressional policy. The statute as written by Congress sets forth no basis for the exemption the [Federal Reserve] Board asks us to read into it. If the Board believes such an exemption would better serve the national interest, it should ask Congress to amend the statute."

Bloomberg v. Board of Governors of the Federal Reserve, 601 F.3d 143, 151 (2d Cir. 2010). The U.S. Supreme Court denied cert in this case, leaving the decision holding that the Fed is subject to FOIA request intact. You can read it here:

http://scholar.google.com/scholar_case?case=3477959921372842887&q=preska+federal+reserve+bloomberg+freedom+information&hl=en&as_sdt=2,14&scilh=0

[Cheyenne]

What's curious about the Fed decision, among other things, is that the DOJ--that's Obama's DOJ--argues on behalf of the Fed. Why is this? Why does the Executive Branch not want the Fed--a creature of Congress--to cough up?

I thought Mr. Hope-n-Change was all about transparency. Guess not.

Anyone able to mount a defense of the Teleprompter-in-Chief is hereby formally invited to explain Obama's official and total prostration before his Wall Street masters. What precisely is the difference between Obama and an Uncle Tom cigar store Indian?

The floor is all yours... Anyone?

[DailyBail]

i have no response to that cheyenne...

[S. Gompers]

Interesting posts Cheyenne.

[Cheyenne]

Fuck it. I'm headed to NYC tomorrow. I'll post from that Godforsaken shithole.

Manana.

[DailyBail]

have a good trip to the shithole...i'm sure you saw that geithner played his hand tonight on the debt ceiling...there will be no default.

[DailyBail]

And did you see this...

http://legaltimes.typepad.com/blt/2011/07/health-care-battle-reaches-supreme-court.html

Decipher that one cheyenne if you will, being our resident lawyer...does it really mean that Obamacare is now officially in the hands of SCOTUS?

[Dave]

CHARLEY REESE’S FINAL COLUMN … ORLANDO SENTINEL! 545 vs 300,000,000 PEOPLE

http://deadlinelive.info/2011/04/26/charley-reeses-final-column-orlando-sentinel-545-vs-300000000-people/

This is a must read:

               I hope this goes around THE USA at least 545 times!!!
               YOU can help it get there!!!

               GO AHEAD. . . BE AN AMERICAN!!!

[Dave]

Worth the watch.

Ron Paul 2012 Amazing!!!

http://youtu.be/F7wK5qaNOtY

A veteran speak out about Iraq and Ron Paul - YouTube.flv

http://youtu.be/kRaDxiWjSdE

Ron Paul: #1 with the Troops

http://youtu.be/Mew81eqquEM

Ron Paul most money from military.

This from 2007 campaign;

http://youtu.be/6nwZGRrqhfs

[DailyBail]

Thanks for the ron paul clips dave.

[Dave]

I'm glad you like it. My friend sent it to me in a FW; E-mail. The video's I found after looking through yours. I see where momentum is catching on for Dr. Paul. I really hope it continues on.

[robertsgt40]

Ron Paul is right on target. The Fed just created 1.6 trillion with a wave of a wand. Who got that? Wasn't me/you. We should stiff the Fed altogether. The parasite will continue to suck the host until one or both die. I prefer the parasite die...now

[DailyBail]

Agreed Robert.

[DailyBail]

TIME magazine and Dean Baker both endorse Paul's plan.

http://curiouscapitalist.blogs.time.com/2011/07/05/debt-ceiling-could-ron-pauls-plan-save-us-from-disaster-twice/

http://www.tnr.com/article/politics/91224/ron-paul-debt-ceiling-federal-reserve

[LiberatedCitizen]

Ron Paul on the Danger of Political and Social Upheaval

Read more: Ron Paul on the Danger of Political and Social Upheaval http://dailyreckoning.com/ron-paul-on-the-danger-of-political-and-social-upheaval/#ixzz1TsnTWQhP

[rxgary]

use the military and racketeering laws against fed reserve board members and ceos and the imf
problem solved

[Sagebrush]

"use the military and racketeering laws against fed reserve board members and ceos and the if
problem solved"

The Obama Administration directives to the Justice Department (Hear no evil, see no evil, speak no evil if bankers, corporations, politicians, the FED or regulatory agencies are involved ) means no investigation, no charges period.

[Inurface]

I would love to meet the two soldiers that threw the puppy. I bet I could kick a field goal with their balls or maybe their kids...

[radicaltruth]

yes.. Paul is right... liberals and lefties would use this as an opportunity to increase spending and change no behavior.

[John]

As predicted, Ron Paul backers take over Maine GOP convention

http://bangordailynews.com/2012/05/05/politics/as-predicted-ron-paul-backers-take-over-maine-gop-convention/

[Sagebrush]

John, has anyone learned why Steve abandoned the site, or had any communication with him?

[john]

Sorry to say but no one has any idea. Give DB a little slack as we all are sick of the bullshit. Until we all see justice done why fucking bother... But then again maybe he needed a break.

[Sagebrush]

I hope he's ok. I think Rule Of Law and the Republic are done for. The parasites are consolidating their power, pushing hard to destroy the Constitution, and directing a sold out government to legalize fraud and extortion committed by government or corporate elite's. Personal freedom and the rights granted by the U.S.Constitution are ignored by law enforcement and denied in court. I'm reading the Rise And Fall Of The Third Reich again and am totally amazed how close today the U.S. is paralleling the rise of National Socialism in Germany in the late 20's and early 30's. In the twenty first century Justice is becoming an obsolete term.

[john]

This map says a lot...mathematically.

http://www.imackgroup.com/mathematics/827440-presidential-primary-delegate-map-ron-paul-vs-mitt-romney/

[S. Gompers]

I hope he is ok also, good to see you Sagebrush.

[Sagebrush]

Good to see you too Gompers, hope all is well with you and yours.

[S. Gompers]

Doing much better now Sagebrush...