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« SURPRISE SURPRISE - New CNN Poll Shows Obama Tied With Romney And Ron Paul In November Showdowns, Gingrich & Santorum Trail Behind | Main | Ron Paul Annihilates Fox Debate Moderator Gerald Seib: "I Want To Cut Military Money, NOT Defense Spending, You Need To Learn The Difference!" »

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



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Reader Comments (37)

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.

Jul 27, 2011 at 1:31 AM | Registered CommenterDailyBail
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.

Jul 27, 2011 at 1:32 AM | Registered CommenterDailyBail
So It Begins ... Chicago Mercantile Exchange Slashes Value of Treasury Bills, Citing Volatility

Jul 27, 2011 at 1:57 AM | Registered CommenterDailyBail
Destructive Force of Bubbles Created By Fed And Greenspan - Dr. Marc Faber

Jul 27, 2011 at 1:58 AM | Registered CommenterDailyBail
'Germany will turn out light on euro - system defective by design'

Jul 27, 2011 at 2:04 AM | Registered CommenterDailyBail
Jul 27, 2011 at 2:07 AM | Registered CommenterDailyBail
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?
Jul 27, 2011 at 7:18 AM | Unregistered CommenterOberon4life
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.
Jul 27, 2011 at 8:10 AM | Unregistered Commentertom dee
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...
Jul 27, 2011 at 8:36 AM | Unregistered CommenterCheyenne
"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:

Jul 27, 2011 at 9:14 AM | Unregistered CommenterCheyenne
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?
Jul 27, 2011 at 3:23 PM | Unregistered CommenterCheyenne
i have no response to that cheyenne...
Jul 27, 2011 at 10:51 PM | Registered CommenterDailyBail
Interesting posts Cheyenne.
Jul 28, 2011 at 12:14 AM | Unregistered CommenterS. Gompers
Fuck it. I'm headed to NYC tomorrow. I'll post from that Godforsaken shithole.

Jul 28, 2011 at 12:37 AM | Unregistered CommenterCheyenne
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.
Jul 28, 2011 at 12:41 AM | Registered CommenterDailyBail
And did you see this...


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?
Jul 28, 2011 at 12:48 AM | Registered CommenterDailyBail


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!!!
Jul 28, 2011 at 7:43 AM | Unregistered CommenterDave
Worth the watch.

Ron Paul 2012 Amazing!!!


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


Ron Paul: #1 with the Troops


Ron Paul most money from military.

This from 2007 campaign;

Jul 28, 2011 at 7:45 AM | Unregistered CommenterDave
Thanks for the ron paul clips dave.
Jul 28, 2011 at 10:07 PM | Registered CommenterDailyBail
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.
Jul 29, 2011 at 12:58 AM | Unregistered CommenterDave
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
Jul 29, 2011 at 12:03 PM | Unregistered Commenterrobertsgt40
Agreed Robert.
Jul 29, 2011 at 3:32 PM | Registered CommenterDailyBail
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
Aug 2, 2011 at 10:43 AM | Unregistered CommenterLiberatedCitizen
use the military and racketeering laws against fed reserve board members and ceos and the imf
problem solved
Aug 2, 2011 at 6:34 PM | Unregistered Commenterrxgary
"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.
Aug 12, 2011 at 3:22 PM | Unregistered CommenterSagebrush
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...
Aug 12, 2011 at 4:57 PM | Unregistered CommenterInurface
yes.. Paul is right... liberals and lefties would use this as an opportunity to increase spending and change no behavior.
Jan 18, 2012 at 9:59 PM | Unregistered Commenterradicaltruth
May 6, 2012 at 7:30 AM | Registered CommenterJohn
John, has anyone learned why Steve abandoned the site, or had any communication with him?
May 6, 2012 at 12:18 PM | Unregistered CommenterSagebrush
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.
May 6, 2012 at 10:09 PM | Unregistered Commenterjohn
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.
May 7, 2012 at 12:43 PM | Unregistered CommenterSagebrush
I hope he is ok also, good to see you Sagebrush.
May 10, 2012 at 1:09 PM | Unregistered CommenterS. Gompers
Good to see you too Gompers, hope all is well with you and yours.
May 11, 2012 at 7:28 PM | Unregistered CommenterSagebrush
Doing much better now Sagebrush...
May 17, 2012 at 9:48 AM | Unregistered CommenterS. Gompers

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