". . . a republic, if you can keep it."
Ron Paul commenting on the Fed’s recent actions and questioning Bernanke:
Let’s not forget, Bernanke says “I don’t believe we’ll have an inflation problem in terms of consumer prices.” On one hand, I’m excited by what will soon be a demonstration of him being dead wrong. On the other, when hasn’t Bernanke been dead wrong?
Ron Paul: “The Federal Reserve is the culprit”
Before the US House of Representatives, February 4, 2009, introducing the The Federal Reserve Board Abolition Act, H.R. 833.
Madame Speaker, I rise to introduce legislation to restore financial stability to America’s economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve’s inflationary policies. This represents a real, if hidden, tax imposed on the American people. . . .
Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.
In fact, Congress’ constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation’s founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true free-market economy.
In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans’ standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve. (Read more from lewrockwell.com)
There is nothing so unamerican, so contrary to the principles of liberty is the draft. A draft implies that even your life is property of the state, for them to do with as they please to achieve political aims.
Ron Paul: “There is no authority. If Congress ever wanted to know what was going on, it would have to change the code. For example, right now it would be important for us to know what our monetary authorities are thinking about and talking about and planning internationally, because this system isn’t working, and a new system is going to be devised . . . it’s important to our sovereignty, and it’s important to our well being, but we don’t even have the right to know that as members of Congress.”
Ron Paul after the vote:
WOW!!!
Interesting to hear how we returned to the Gold Standard after the Civil War.
30 minutes. Ignore the first couple of callers.
Famous libertarian blogger Lew Rockwell records fantastic podcasts about the economic melt down and other issues. Find them here. I suggest downloading them to your audio players and listening during your commute. It’ll give you a perspective besides the Keynesian propaganda dominating the airwaves.
Here are some recent podcasts:
Jan 21st: Interview with Bob Murphy on the Great Depression and New Deal.
Dec 23rd: Ron Paul: There is Hope
Dec 21st: Bailout Crimes
Tell it like it is Ron!!!!