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Hearing on AIG bonuses 10/14/09 - Kucinich hints at ending the Federal Reserve

Submitted by Gmartine on Sun, 10/18/2009 - 15:57
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During questioning regarding TARP and AIG bonuses Dennis Kucinich says that we should not be giving the Federal Reserve more powers and that maybe it is time for congress to undo some of the mistakes from outsourcing our money supply to a group that can't handle small problems much less large problems and that we should now take a different approach to this institution.

around 01:15:00

http://www.cspan.org/Watch/Media/2009/10/18/HP/R/24385/Treas...

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If the government controlled

Submitted by jkm1864 on Sun, 10/18/2009 - 18:51.

If the government controlled the issuance of the fiat currency We would be a lot better off. The money on interest that the federal government would generate could replace the income tax 100% more than likely. I do like the idea of using a currency such as gold or silver but I think I like the idea of no income tax better.

how about

Submitted by rocketman on Sun, 10/18/2009 - 19:02.

both?

—

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

He did quote the

Submitted by Gmartine on Sun, 10/18/2009 - 18:03.

He did quote the constitution in regards to coining money during his questioning.

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http://www.meetup.com/RP2012GrandJunctionCO

Kucinich does not really

Submitted by Jive_Dadson on Sun, 10/18/2009 - 16:31.

Kucinich does not really want to end the Federal Reserve. He wants to take it over.

That's my understanding of

Submitted by stuki on Sun, 10/18/2009 - 17:10.

That's my understanding of Kucinich's position, as well. And if there is one thing even less appealing than an independent Fed, it's a fractional reserve backstopping and "inflation targeting" Fed under direct Congressional control. To get our, or at least my, support, Dennis really needs to emphasize returning to the constitutional limitations of only issuing gold and silver as money. Until then, it looks like all he really wants to do is transfer control of discretionary printing from Bernanke to himself.

i'll take it as a start

Submitted by rocketman on Sun, 10/18/2009 - 18:25.

what a hot seat that would be for congressional members. give kucinich the power, we can get him out of office.

—

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

agreed

Submitted by troy on Sun, 10/18/2009 - 19:02.

the system can't convert to a precious metal standard overnight. it needs to be reigned in under Article I, Section 8, so Congress is in control of it -- Not the federal reserve.

Only then, will a safe conversion to a gold/silver standard take place.

First thing is first. Wrestle it out of the hands of the Fed.

Sounds interesting

Submitted by think on Sun, 10/18/2009 - 16:16.

!