ABOLISH THE FEDERAL RESERVE from Ron Paul's speeches and statements... www.house.gov/paul
Mr. Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. I also ask unanimous consent to insert the attached article by Lew Rockwell, president of the Ludwig Von Mises Institute, which explains the benefits of abolishing the Fed and restoring the gold standard, into the record.
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.
From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.
"Rob from St. Louis MO": President Abraham Lincoln knew that the Satanic-Vatican would one day want to control, and ultimately rape, the United States of America of All Their Gold [& Silver (and eventually their Real Estate)]; so he created The "Greenback"; or the historic continuation of Our U.S. Constitutionally-Based/Mandated Gold-Standard and/or Gold-backed-Currency.
Lincoln succedded; thereby twarting The Satanic-Vatcan's Plan For Confiscating The Gold(& Silver, etc.)/Money of The United States of America.
The Satanic-Vatican forthwith (through Booth & his Roman-"Catholic"-Conspirators) Assassinated President Abraham Lincoln after Losing The "Civil War". The Satanic-Vatican lost that Monetary-War Miserably !
The Satanic-Vatican, however, succeeded in weasling-in The Federal Reserve Act in The U.S. Congress in 1913.
They Got, Through the Fed/FDR, The U.S. off the Gold-Standard in 1933; after Their manipulated/created Wold-Wide Depression of the 1930s.
About 30 years later; they Also Assassinated President John F. Kennedy & America's Silver-Standard [Kennedy tried to side-step the Fed by using The Silver-Standard as America entered a Bi-metalic system in 1890s-1900s through William Jennings Bryan] !
Will a President Ron Paul Defeat The Satanic-Vatican-Fed.
I thought monetarists had gone extinct, certainly don't hear anything of money supply targets these days.... a grand right-wing social experiment that destroyed industry, jobs and not a few lives along the way.
Rob - yes the long term issues are important. Hitting 1.4000 (or even 1.0000 in today's other news story) has no more significance than the Da Vinci Code or the Bible Code.
This is Very Important. By increasing the money supply the Fed can lower interest rates, but the increase in the money supply makes the purchasing power of the dollar weaker. In this way the Fed is able to rob the savings of the lower and middle classes, and hand the profits over to Wall Street.
Among all the Presidential candidates, only Ron Paul understands the corruption of this system. Only Ron Paul wants to abolish the corruption of this private bank called the Federal Reservea and replace it with a gold backed dollar.
With a gold standard, should inflation occur, the value of the gold increases too, keeping the purchasing power of the dollar intact.
When the US Federal Reserve lowers interest rates, it provides short-term stimulation for the economy and the stock markets go up. The currency markets for the US dollar go down and the US dollar is now very low against other currencies. This ultimately is inflationary and hurts our ability to import oil, electronics, and other products that we need.
If US interest rates go up, this will make borrowing more difficult but it will strengthen the US dollar against other currencies.
There is no "free lunch" in the long run.
Also, in the long run, we're all dead and destined for the Judgement Seat of Christ and beyond.