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« Here's Another Reason To Sue The Fed - Make This Video Go Viral | Main | $4 Billion For Global Warming Research In 2011 Budget »
Friday
Jan212011

Ron Paul: "We are STILL in the dark on so much of what the Fed has done..." 

Scroll down for huge Ron Paul - Bernanke video collection...

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Editor's Note - We are reposting this story in light of Bernanke's comments - lies, actually - when asked about a Fed audit after today's speech.

Video - The latest Texas Straight Talk from Dr. Ron Paul - Jan. 10, 2011

These are some of the best quotes from the video & transcript inside...

  • "The problems the Fed was originally created to solve now look miniscule compared to the problems it has created."
  • "We are STILL in the dark on so much of what the Fed has done..." 
  • "The solution is to return sanity and freedom to monetary policy.  Forcing the entire country to use a medium of exchange that is subject to the whims of elite bankers and their cronies on Wall Street is not sanity.  Hoping that an unchecked, all-powerful, behemoth banking cartel will solve any economic problem is not sanity."

Inside, I also put together a huge collection of Ron Paul - Bernanke clips from congressional testimony through the years.  There are some excellent moments.

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Transcript

http://paul.house.gov

Toward Sensible Monetary Policy

Last week the 112th Congress was sworn in. I am pleased that I will be chairing the Monetary Policy Subcommittee of the Financial Services Committee, which has oversight of the Federal Reserve. Obviously, this position will facilitate my efforts to ensure the Fed provides the American people with more information about what they have been doing with and to our money. Not surprisingly, since my chairmanship was announced, apologists for the Fed have been recycling the old canard about how increased transparency threatens the Fed's so-called political independence.

By independence, they are referring to the Fed's ability to greatly impact the economy with virtually no meaningful oversight. We only recently learned that the bankers at the Fed were able to use the latest financial crisis to bail out Wall Street cronies and foreign central banks with billions of dollars that were created and wasted, instead of appropriated and voted on by representatives of the people. The Fed and its supporters in Congress vehemently fought even this small bit of transparency and without this one-time provision in the financial reform act forcing disclosure, we would still not have this information. Indeed, we are in the dark on so much of what the Fed has done. This is extremely dangerous for our country, yet this power and secrecy is defended as some kind of public good, which is patently ridiculous.

Our government is based on a system of checks and balances. With no check on the Fed, it is no surprise it has thrown the economy wildly off balance. The solution is not to re-inflate the bubbles the Fed created, or to continue to devalue the currency, or to throw billions at failing banks and corporations. The solution is to return sanity and freedom to monetary policy. Forcing the entire country to use a medium of exchange that is subject to the whims of elite bankers and their cronies on Wall Street is not sanity. Hoping that an unchecked, all-powerful, behemoth banking cartel will solve any economic problem is not sanity.

The problems the Fed was originally created to solve now look miniscule compared to the problems it has created. If "political independence" erodes the purchasing power of the currency by 98%, destabilizes the economy with radical booms and busts, all while increasing unemployment and tipping us ever closer to hyperinflation, perhaps it is time to try a little transparency and accountability instead. Better still -- we should try giving the people true economic freedom.

Make no mistake: the Fed is not truly independent of political pressure. Its chair is appointed by the president, and it is a creature of Congress. Congress has a duty, albeit a neglected one, to exercise oversight of the Fed. However, even if it was politically independent, it is not independent of the influences of Wall Street. One only has to look at the revolving door between the Fed and the big banks to know that. Disclosures on TARP funds confirm this.

It is nothing short of cruel and criminal for Congress to stand idly by while the life savings of Americans are inflated away to nothing. It is high time Congress insist on getting complete information on what the Fed has been doing, and for whom. My hope is that exposing the truth will demonstrate the insanity of the status quo and more people will call for sensible changes, such as legalizing competing currencies.

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Video:  Ron Paul demands a FULL audit of the Federal Reserve -- June 9, 2010

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You can start to expect something like this on a weekly basis...

Video:  Bernanke & Paul lovefest...

Here's another favorite - Paul lectures Bernanke on U.S. fascism...

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Video:  Bogie & Bacall - Ron Paul and Ben Bernanke

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Video:  Paul schools B-52 on the bailouts and the Great Depression...

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     Email to a friend...

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This is one outstanding - Texas Straight Talk from last month...

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Reader Comments (14)

« Chairman Ron Paul: "We Must Audit The Fed In 2011" (Video & Transcript) »

http://dailybail.com/home/chairman-ron-paul-we-must-audit-the-fed-in-2011-video-transc.html

last month..check it out if you haven't seen it...
Jan 14, 2011 at 1:46 AM | Registered CommenterDailyBail
« THE FRAUDULENT RESERVE: Ron Paul Says Fed Policy 'Is Out Of Control' - Bloomberg Interview (Dec. 1) »

http://dailybail.com/home/the-fraudulent-reserve-ron-paul-says-fed-policy-is-out-of-co.html
Jan 14, 2011 at 2:04 AM | Registered CommenterDailyBail
France and Germany veto increase in EU rescue fund

Germany and France have rejected calls by Brussels for a rapid increase in the size and powers of the EU's rescue machinery, once again exposing serious differences at the heart of monetary union.

http://www.activistpost.com/2011/01/france-and-germany-veto-increase-in-eu.html
Jan 14, 2011 at 2:05 AM | Registered CommenterDailyBail
« BOMBSHELL: Wikileaks Will Unveil Major U.S. Banking Scandal In Early 2011 - "An Ecosystem Of Corruption" »

http://dailybail.com/home/bombshell-wikileaks-will-unveil-major-us-banking-scandal-in.html
Jan 14, 2011 at 3:23 AM | Registered CommenterDailyBail
« Video - Ron Paul Discusses Wikileaks On House Floor: "Let The Eyes Of Vigilance Never Be Closed" »

http://dailybail.com/home/video-ron-paul-discusses-wikileaks-on-house-floor-let-the-ey.html
Jan 14, 2011 at 3:23 AM | Registered CommenterDailyBail
« Ron Paul: "What We Need Is WikiLeaks On The Federal Reserve" (VIDEO) »

http://dailybail.com/home/ron-paul-what-we-need-is-wikileaks-on-the-federal-reserve-vi.html
Jan 14, 2011 at 3:24 AM | Registered CommenterDailyBail
Interesting that a bill with so many "co sponsors" went nowhere, oops, it was a election year.

You oughta follow the money trail on that one...
Jan 16, 2011 at 7:50 PM | Unregistered CommenterS. Gompers
Ever wonder how many of those ("Co-Sponsors" ) Co-Sponsored the bill so they could sell their no vote to the banks?
I would say about 114 graft grabbing parasites is the correct number.

"A motion to return the Dodd-Frank Financial Reform bill to committee and add back the original full Fed audit was defeated -- with 114 of the original cosponsors of HR 1207 voting against it." 
Jan 16, 2011 at 8:32 PM | Unregistered CommenterSagebrush
That is exactly the point I was making Sagebrush.
Jan 16, 2011 at 10:58 PM | Unregistered CommenterS. Gompers
Consider The Following, (Early 1900s) Quote:
“Very soon, every American will be required to register their biological property in a national system, designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a charge back for our fiat paper currency. Every American will be forced to register or suffer being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be none the wiser, for not one man in a million could ever figure our plans and, if by accident one or two should figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits and beyond our wildest expectations and leave every American a contributor to this fraud, which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.” --Col. Edward Mandell House

THEN, There's The 'Bankers Manifesto' of 1892:
“We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.

Organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.

At the coming Omaha convention to be held July 4, 1892, our men must attend and direct its movement or else there will be set on foot such antagonism to our designs as may require force to overcome.

This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation.

The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.

When, through the process of law, the common people have lost their homes, they will be more tractable and easily governed through the influence of the strong arm of the government applied to a central power of imperial wealth under the control of the leading financiers.

People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.

The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.

By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.”
(http://www.casescorner.com/id46.html) It Would Seem As Though, The Criminal Bankster's Plans, Are Working Perfectly ... D.C.
Jan 17, 2011 at 5:57 AM | Unregistered CommenterDan@CC.C
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives, is above the hand that takes … Money has no motherland; financiers are without patriotism and without decency ... their sole object is gain.”
~ Napoleon Bonaparte, 1815 ~
(http://www.casescorner.com/id18.html)
Jan 17, 2011 at 6:05 AM | Unregistered CommenterDan@CC.C
Sidebar to Dan's post, Col. Edward Mandell House was the son of Thomas W. House, a gun runner, financier, and agent of the Rothschild's during the Civil War, who was linked to the anti-Lincoln, pro-banker interests.

In 1913, Colonel Edward Mandell House helped to pick the charter members of the original Federal Reserve Board once the long term family dream was realized.
Jul 28, 2011 at 3:34 AM | Unregistered CommenterS. Gompers
Thanks for that gomp...I wasn't aware of those facts.
Jul 28, 2011 at 9:03 PM | Registered CommenterDailyBail

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