Thread: Ron Pauls bill to abolish the federal reserve

The Federal Reserve System is the problem. Congress never had, nor has, the authority as Ben Bernanke said to "delegate the authority to coin and issue currency and set the value therein" to them. The Federal Reserve System should be abolished. We the people should have the control of our own currency, not a private cartel of bankers that don't live in America. The Bail out is no more than a criminal act by this administration in coordination with the Federal Reserve Banks. If this bill passes, it surely proves that there is no more government of the people for the people by the people. Let's band together and demand the removal of the Federal Reserve Act and their interest collection fee called the Federal Income Tax. No more!

1865 essentially ended any hope we had of a government of, for, and by the people. No, that's not a comment in favor of slavery.

In 1913, at 11:45 p.m., on the eve of Christmas, a group of powerful men came together to form a private corporation, designed to control the monetary system of our country. They moved with a calculated craftiness and deceit to pass legislation that would enslave every American as a debtor to their corporation. Unless you know the chicanery of how the Federal Reserve Act was passed in 1913, unless you understand the central banking system that runs almost all the countries of the world and their history of manipulation, deceit, deception, and distortion, you will not be able to hear, see, and understand what is happening under your nose. In July, Congress gave Hank Paulson a blank check, with his promised that he would not use it unless he needed to. Congress went home for summer recess and Paulson found a reason to use it; rescue Fannie and Freddie to the tune of $5.3 Trillion.
What do you think is going to happen when they get the new Resolution Trust Corporation and their hands on the purse of America? We will have several days of peace in the market and then the pattern will start all over again because the next project is to pass the Treasury's Blueprint For A Modernized Financial Regulatory System, The Blueprint is designed to transfer to the Federal Reserve, power over all savings and loans, credit unions, thrifts, state chartered banks, the entire insurance industry, mortgage industry, the U.S. Payment and Settlement System, and to make the Federal Reserve the Market Stability Regulator. Following this current round of volatility, we can expect more peaceful days in the market then, bang! The attack will shift to the personal savings, 401Ks, pension plans, and commercial mortgages. This is a complete restructuring of the American economy around the Federal Reserve. At this point, congress will be rendered powerless because they chose to "get it done fast" and voted away ALL of their power.
Let me give you an example of unbridled power. It is called "Market based Democracy." It was at a Group of Seven Finance Ministers meeting in Florida that then Treasury Secretary John Snow used the phrase "market based democracy." After doing a fair amount of research, I realized that Wall Street had transferred all tangibles into the bond, stock, commodities, or currency market. There is not one investment or asset that we own that cannot change in value due to markets, trends, or the power of the market. If you remember the Asian Currency Crisis, the currencies of five Asian countries fell to horrendous lows when they refused to sign on to the World Trade Organization Financial Services Agreement. To punish them, their currencies were sold. So much for thinking your savings and purchasing power were safe. The banks have made out like bandits. They have not retained ANY risk for the loans they make. If they make a mortgage, they can sell it on the secondary mortgage market and then that mortgage can be packaged into tranches and sold to investors worldwide; if you have an auto loan or credit card debt, it too can be sold to investors in the form of bonds; if you have certificates of deposit, they can be sold to money market funds or through brokerage firms, etc. What I am pointing out is that the system is already in place whereby the value of any asset can drop substantially and without warning because of market-based democracy. We have no control whatsoever.
Once the Federal Reserve is given unbridled power over all the valuables of America, like a pirate they will seize whatever they can, for whatever reason and we will have absolutely no recourse-that is unless YOU ARE WILLING TO STAKE YOUR SACRED FORTUNE FOR THE FREEDOM OF YOUR CHILDREN AND GRANDCHILDREN AND FOR THE PEOPLE AROUND THE WORLD WHO HAVE STOPPED LOOKING AT AMERICA FOR ANSWERS WHEN WE ARE THE PRIME REASON FOR THE PROBLEMS IN THE WORLD.
LET US BREAK THE HOLD AND BONDAGE THAT THE FEDERAL RESERVE HAS ON AMERICA! LET US DO WHAT WILSON, ROOSEVELT, TRUMAN, EISENHOWER, KENNEDY, JOHNSON, NIXON, FORD, CARTER, REAGAN, BUSH l, CLINTON, AND BUSH II have not done. LET US CALL FOR THE BREAKING OF THE FEDERAL RESERVE BY SAYING NO. We then absolve ourselves of the $51.9T which is owed to the Federal Reserve. What freedom. We will be dirt poor but we will have overcome a noose around the neck of every American citizen. This is really OUR MOMENT OF OPPORTUNITY TO SET AMERICA FREE FROM BONDAGE!!! Lastly, vote out your current Congressman or Senator if they vote for the proposed bailout. If we fail in convincing our lawmakers, then after the Blueprint is passed we can expect a new currency, the Amero and a 50% devaluation of the dollar as it is merged with Canada, Mexico and other countries in this hemisphere. If that is not enough, the coming tax on services to pay for all the bailouts will add to our misery. Will you be able to afford or stay in your home then? It will be too late. Now is the time to BREAK THE BANK!

Could not have said it better myself. I was watching an interview with Vicente Fox after he left the presidency of Mexico and heard him let slip that he and King Gerorge II had been working on border disintegration to create a North American answer to the EU. He said it in passing, as an explanation to an answer he was giving to a question on a quasi-related topic and was subtle about it. The interviewer didn't pick up on it. I strongly believe that the only way this can happen is for us to be devalued. Now, the very thought makes me vomit in my mouth a little bit, but for it to happen, America can't be so disparate with Mexico, the huge differences in ecomnomy won't allow it. American propping of tinpot criminals in the Mexican government has created a tradition that won't allow Mexio to climb up, so Amercia must be brought down. To qoute from Ferris Bueller, I weep for the future. The worst part of the whole mess, past and present is we have no one to blame but ourselves. We've bounced all over the whole world like the Lords of creation fixing this, demanding that, and feeding egos of nothing more than politicians (ewwwww) instead of keeping ourselves to ourselves and simply inviting anyone who wants to participate in freedom and peace to play on a level playing field. I've lived under a dictatorship, and I've seen the difference. In the name of globalization, we are slowly but surely moving in the same direciton. BTW, the First amendment has been suspended in St. Louis. Think it can't happen here? It's already started...
Now, no more, because it gets me too angry.

That is an over simplification.

Monetary policies between now and the Great depression are vastly different.

During the Great Depression the currency was backed by a gold standard, thus every time you printed more currency the value would be less, unless there was more gold to back the currency.

Now we have a fiat currency, which basically means the money has no actual intrinsic value other than the government's order (fiat) that the currency must be accepted as payment. It's a credit based monetary system, with the central bank (the government) being the creditor.

I could have sworn that it became illegal to own gold when FDR took the throne- er, I mean took office