Bernanke needs a lesson in economics. Most people would agree that the fed has no idea how to manage their money. After this whole financial debacle, does the government even have debt consolidation plans?
RP just kept on truckin' ....
til he was good and done.
If they try to limit him or cut him off, it only makes people realize he must be saying something important.
Ron Paul's Convention Speech
Ron Paul f**ckin rocks. I wish I would have seen this kind of passion a little more during the campaign. This man is a total hero of the people. I think he finally realizes we got his back and isn't afraid to scrape off a little more of the sugar coating.
AND THE TRUTH SHALL SET YOU FREE
Anyone know why RP said "Oh please" at the beginning?
is the kind of talk that ron needs to employ more often.
these people are going to know we mean business when they hear us TALK and ACT like we mean business.
and ron is just so nice most of the time...
i wanna boxer in there kicking ass.
i wanna see ass kicked all over the national mall.
i always love to see RP all fired up!
There is often a lot of talk from politicians about pork spending, especially Republicans (though it's usually for not spending on what they want – but it isn't like Democrats aren't the same way) but it has hit a new low, with Clougherty Packing LLC. Clougherty Packing LLC is a meat packing company that prepares processed ham products, and they got just a shade over $5 million in stimulus money – that's some pork barrel spending, literally! That's some big unsecured loans for ham. Obama had pledged to fight earmarks and other wasteful spending, but it seems he's gone completely the other way. Unemployment is still rising, and lots of people could use payday loans – but Clougherty Packing LLC gets funding.
Ron Paul should have become President, but the GOP dropped the ball and supported the wrong candidate. Well, I suppose everyone here already knows that...
. He has stated many times his supporters are the ones responsible for getting the Fed issue mainstream and in the house. Dr. Paul obviously feeds off us as much as we feed off him and he is getting stronger. Imagine what this man could accomplish if the entire country was behind him.
I suspect the tone is because they gave him less time than he had written to use and it backfired: In trying to speak clearly and quickly, while ticked off by being squeezed, Ron came off as a firebrand.
(I'd bet he either gets his full time next time or they try to cut him off completely.)
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
I watched Morning Joe and they focused on the Obama birth certificate blow up during a town hall meeting, the professor arrested for breaking into his home, Justice Sotomayor, and other such topics.
"Banking establishments are more dangerous than standing armies."
Thomas Jefferson, 1799
It is monetary inflation. Price and wage inflation are an effect of monetary inflation, not a cause. This how they pull the wool. Get Irwin Schiff's book, "The Kingdom of Moltz".
It would have been tasty to have heard Bernanke's rebuttal.
Still, Ron Paul, is calling for fiscal sanity and nobody is buying it.
Why is that? CFR? Made Guys? The Mafia? Stupidity?
All of the above, I think.
wow... i cant wait till his End the Fed book comes out!!! many pages of him thrashing them like this!
"I've been studying economics longer than YOU have !"
That's not allowed on the Hill. They arrest people for that.
no matter WHAT ... you lose
....Or they just like getting their asses handed to them. Ron Paul has been there longer than most of those Bankers have been alive for starters.
Well written and well said! As always, Dr. Paul is astute and succinct and honest!
However, I think it's safe to say that Bernanke, Frank, Pelosi, any member of Goldman Sachs, Obama, whoever else fills a suit in this house-of-cards/facade-of-a-government (save for a very select few); they ALL know what Dr. Paul is saying is TRUE. They know it NOW, and they've known it. That's why the whole agenda pushes in the OPPOSITE direction! Ben Bernanke doesn't need that information. Billions of other people DO! Ben already knows how to hamstring the middle-class and eliminate it. He fronts the cartel that is doing it! He's the schmuck that got chosen to sit in the chair! The ones that OWN THE THING are nowhere to be found. They have the purse-strings and always have! Short of a total global collapse, they always will. If we can teach, learn and pass along the RIGHT THING TO DO, that Dr. Paul has spoken of here, and carry it forward to our children and other people in other countries as well, it might collapse sooner. Keep in mind, the "collapse" does not affect the working/middle class. It affects the wealthy elite that own it. Unfortunately, it has not happened thus far in history. Not sure it's in the cards now.
from Tom LaMar: Is not one of the most fundamental questions yet to be dealt with...the ownership of fiat money? Just because a bank prints it doesn't mean that it should be able to claim it as it's own and then "lend" it to our government, adding to that portion of the national debt, of which the Fed is owed about 1/2, right? Not only that, but the interest we now pay (fees too?) on the Fed "debt", which is so much that we can't hammer away at the principal (or correct term) to actually get it back to a "manageable debt" that the bankers usually speak of. Interestingly,
one of the few times in our nation's history that we were not only balancing the budget, but were debt free was under Pres. Jackson, champion of the common man, a great read !
Their ownership IS "an illusion!" No arguement here! However, if 9/10's of the world thinks the illusion is a reality, then I would be inclined to think the other 1/10th hasn't much choice but to at least go along with it. From my perspective; gold, silver and "precious metals" are about as necessary in life as used toilet paper! Why they hold value universally, over centuries, is beyond me. That resource-based society mentioned in Zeitgeist makes sense, but then the resources will only get hoarded.
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Running with Scissors is a popular memoir published by Augusten Burrows, about his experiences growing up. Running with Scissors details his being adopted by his mother's therapist, and the author's experiences growing up in Dr. Turcotte's home, some of which is patently disturbing. A film was made about the book. The response by the family of Dr. Turcotte was not pleasant – they sued him, and Burrows just received a favorable judgment in the lawsuit – for legal costs and changing the word "memoir" in the book to "book" as the family contends it contains fabrications about them and their lives. Still, with the numbers of copies sold of Running with Scissors, Burrows won't need an online payday loan.
i am not sure who to believe anymore...
On July 21st, 2009 Paul Revere says:
we had a credit bubble that added trillions of dollars to the money supply...
it is bursting...
the fed cannot 'print' fast enough to counter the deleveraging that is now occurring...
i am not sure how dr. paul can overlook this and claim that we have inflation...
inflation will occur, but only after the long deleveraging process of deflating the bursting bubble....
michael-- dont you agree with me?
When rising interest rates prevent the Fed from selling its IOU's (monetizing debt), the Treasury will turn to printing, which is really done by the Fed. Then inflation will then become noticeable. Latest issue $20 bills is 2006. Bernake quoted low M1 and M2 as a reason why inflation is not now a problem. Old dollars are sloshing around all over the world. The new bills will be a spark when people notice their availability.
You argument makes sense on the surface in a 1 + 1 = 2 environment. Unfortunately when you have a long period of government intervention and artificially favorable borrowing environments you have a little change in the effects.
Actually, to clarify, it is not as much the era of loose lending policy and artificial interest rates, it is the era of government intervention AFTER this unsustainable process has finally fallen apart at the seams.
What you have right now is trillions of dollars in bad bad investments and loans that have been added to the money supply over the past decades. If free market forces were allowed to occur (from this point, as obviously if they were allowed before we wouldn't have this situation!), these malinvestments would be liquidated and reduced to their realistic value, reducing the available money supply by the difference between the book value and the market value.
Currently the Fed is basically stop-gapping the difference for the banks by plugging a bunch of new money into the space between "book" value and REAL value. Also, mark-to-market has been eliminated (notice no major write-downs since that point - as if those instruments have been gaining value since then!!!) so for accounting purposes and money purposes that aspect of the money supply has not shrunk.
Add in the fact that most of the "deflation" occuring is in paper asset values (i.e. equity values in homes). If the equity was already used that money exists as cash within the system and the liability side of the balance sheet is held by the homeowner and ultimately the bank (when they default). To top it off the government has expanded its budget monumentally which is directly inflationary as governments spend and spend and spend injecting those new dollars directly into the economy to be passed around with all currently existing dollars.
There is small deflation right now but it's like a garden hose has been spraying at a fire hydrant for a while and the fireman are just turning the nut at the top so it can spray back.
When someone like Jim Rogers says they have NO SHORTS despite how rotten so many companies are, it should give you some pause....
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
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