Ron Paul "not in favor of closing the Federal Reserve?"
...I just heard Ron Paul say in an interview ..."I'm not in favor of closing the Federal Reserve down."...and he does'nt think it would even be Constitutional to attempt...PLEASE listen to this 37 minute interview over at ronpaulaudio.com - Ron Paul WHO Jan Mikelson Interview Iowa (37min) discusses Fox & Friends Facsim quote...he says this about 15min or so into the interview...I hope there is a good explanation for this comment...PLEASE help me to understand what he really means in this Interview about not being in favor of closing the Federal Reserve...he does mention wanting to allow competing currency, which is great but I thought he wanted to abolish the Federal Reserve along with the IRS? HELPPPPPPPP... UPDATE TO MY POST... 21Dec07...I just heard Ron Paul say from video footage posted from his Franklin Pierce Law school in Concord NH 12/19/07 appearance..."even the Federal Reserve, I don't advocate closing down the Federal Reserve IN ONE DAY, not because I'm sympathetic to it, but because the treatment would be worse than the problem we have"..."then the next step to deal with the Federal Reserve would be to eliminate there power to monotize debt."...(whew)!... My unfortunate suspicions of our good Doctor changing his stand on the Federal Reserve has been fully laid to rest now. In his Iowa interview I mentioned above, and the reason for the original post, he only said he was not in favor of closing the Federal Reserve(.) Knowing he had introduced legislation to abolish the Fed, and talked about it in the past, after hearing him only say he was not in favor of abolishing it, I got worried...now in hind sight, thankfully over nothing! Shame on me for not allowing him the benefit of the doubt and wait for clarity...I should not hang on his every word in the confines of one interview so this is a lesson well learned. Sorry to those who thought me a Troll or troublemaker, that was never my intent. I as a fellow Ron Paul supporter, was only looking for help...and I found it here...thanks to everyone's input... MAY THE CONSTITUTION BE WITH YOU!!!
Can't Shut Down the Fed Overnight
Ron Paul approaches the Federal Reserve the same way he approaches Social Security and Medicare. Philosophically he despises all of these institutions and in a world without consequences he would get rid of them all immediately.
However, shutting down the Fed overnight would have serious consequences. It could cause a dollar crisis or other financial panic (it is unknowable how the market will react). You have to remember that our fiat dollar has no intrinsic value. It is only a matter of confidence in our government and a belief that it will not just print the dollar into oblivion that prevents our money from becoming worthless overnight. Therefore the issue of what to do about the Fed is very delicate. Everyone who lives in the US is a holder of fiat dollars, so we can't afford to screw this up and start a dollar crisis.
Ron Paul's approach of allowing competition (repeal the legal tender laws and eliminate sales taxes on gold and silver), will allow Americans to choose a better money for their transactions than the fiat dollar. We will be able to protect our savings by exchanging it into gold and silver money.
The introduction of competition will force the Fed to protect its fiat dollar by raising interest rates or risk complete loss of credibility. The competition from gold and silver money will help guarantee that people's savings, whether it is held in the form of fiat dollars or gold and silver money, isn't completely destroyed by a dollar crisis and massive inflation.
After there is sufficient public participation and support for gold and silver money, the Fed can be closed down without incident. What we need first is a transition period where we break the Fed's monopoly over our money, then we can shut it down. That's what Ron Paul supports, and I think this is an excellent approach.
Sure, he said the best way
Sure, he said the best way is to give it competition. Do you honestly think he would get elected if he ran on a platform of just going in and shutting it down? That would be chaos and he'd probably be assassinated by the Rockefellers. He has stated very clearly he wants to create a competing currency and let the market do its job. Clearly the market would shut the Fed down....
The fed has a charter with the US government
You eliminate statutes that prevent the circulation of competing hard currencies.
The fed transitions into be into being a white elephant game over. Might take who knows how many years. I have no idea. Can't close the fed right away. you been down to wall street lately?
Can't close down the fed. You slowly but surely make the fed of no consequence in a healthy economy that is ruled by free markets. Their existence is all about printing money and running this liquidity through the banking system. Don't you be a afraid. Money dudes on the street will get it worked out.
Research is a good thing, old boy. Saves you all this fuss. Keeps you from looking like you are from some democratic party website or something.
T
Unify
Agreed. Exactly why
the FED knows that with Ron Paul, its days would be numbered. Even if he says he won't eliminate it, they know full well that allowing competing hard money, with no legal tender laws forcing the use of their currency -- and no forced collection of income tax using their currency -- means the death of them. Why do you think the establishment hates Ron Paul so much?
Read http://www.321gold.com/fed/greenspan/1966.html, "Gold and Economic Freedom," by Alan Greenspan in 1966, and you will understand exactly why the statists at the FED hate the very thought of people like you and me having access to gold. A MUST read.
this is the answer
The federal Reserve System was created by an act of congress and signed into law by the president. As much as GWB might like to think so, an executive order cannot overturn a law. Only a repeal of the law, another law or a court can make a law ineffectual.
The idea of a competing currency is a way to reduce the influence of the federal reserve on our monetary system. During John F Kennedy's term (shortly before he was killed) he authorized by executive order, the treasury department (part of the executive branch and the part of the government that provides the presidents security) to produce united states notes to compete with the federal reserve notes. He also ordered the coining and distribution of silver dollars. Dr Paul's idea are similar. Keep in mind that the fed recalled all the united states notes after the assassination.
You're a idiot
The way to shut down the FED is to allow competitive forms of money. Dr Paul wants it to be legal for others to be able to make gold and silver curency to compete with the FED. This is called competition of a solid monetary system instead of a private monopoly that prints worthless paper out of thin air. This is called free enterprise and eventually will replace the FED who is the one that is destroying the value of our dollar which if it continues to do so will bring this country financially to its knees. If you were familiar with what Dr Paul has said about the FED you wouldn't be printing this ridiculous post falsely accusing him. You are a troublemaker and your post is flagged and I suggest others do the same.
Why the aggression?
Stay calm. It doesn't make sense to explode like you just did...
I'm Flagging you as I agree,
I'm Flagging you as I agree, rude wasn't the way to answer this post
... or...
You could answer what may very well be an honest and well meaning question in a helpful manner. That way, anyone that comes to visit our site will see RP supporters as welcoming and helpful people who happen to know a little bit about monetary policy. Heck, that might even impress a few newcomers into joining the revolution! What a concept!
Of course, you could also continue being a giant ass as well.
I agree
Just because you know a lot about something doesn't mean that everyone else hat doesn't is an idiot. That's a bit harsh and not a good representation.
Educate
One thing at a time
While some of us would like nothing better than doing away with every unconstitutional program within 24 hours of a Paul inauguration, a more practical approach should be taken. Remember that it has taken over 100 years to get us into the mess we are in as a nation and it will take mare than 4 or even 8 years of Dr Paul at the helm to get us out.
Once the November election is over and the electors have made their accounting, then a reasoned and deliberate map to constitutional government will have to be made. I do not believe that the FED will be first on the list, and without a congress to help in this, it will likely not happen for a while.
Dr Paul can, without a bill from congress, advocate for competing currencys, such as the Liberty Dollar, which is now under attack by the feds. He can appeal to the people to contact congress regarding various departments and programs that can easliy be done away with. But again, it can not be done overnight.
Make your lists, and be ready to write and call your Rep and Sen asap after the election. With our help, it will be much easier and faster to slow and then stop the growth of government, then begin the process of reducing it to proper size.
Yes...but...
We will have to do more than just write or call our Rep's and Senators. I've ben doing that for years to no avail. I believe it would help RP more by checking the past votes of our state Rep's and Senators to see just who are actively part of the problem. For those who are part of the problem, start a petition in your state to get them recalled or impeached. Each State has different rules, but some, like Georgia, says you can recall or impeach a Senator if they fail to uphold the Constitution. Also, you could work to repeal the 17th Amendment which was not properly ratified.
If I'm not mistaken, Senators are supposed to be appointed by their State legislators and not elected by the people in special elections. The 17th amendment I believe, is what changed this.
Thanks
The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may justly be pronounced the very definition of tyranny. James Madison
The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may justly be pronounced the very definition of tyranny. James Madison
ALL IN GOOD TIME,,,
AS THE GOOD DR HAS STATED: It depends on what you want the roll of government to be ,,,, you simply can not wipe the slate clean one step at a time. out of iraq ,,turn loose of unwanted influance around the world ,,rebuild infrastucture in america. Reinstall civil liberties and the implamentation of the neccassary tools to insure they stay in place. ect .FED WILL BE ACCOUNTABLE FROM DAY ONE AND WILL BE REVAMPT . They will not be allowed to further damage the country . However how much can be accomplited without congress?
If voting could really change things,
it would be illegal. Here is hoping for change!
ALL IN GOOD TIME,,,
AS THE GOOD DR HAS STATED: It depends on what you want the roll of government to be ,,,, you simply can not wipe the slate clean one step at a time. out of iraq ,,turn loose of unwanted influance around the world ,,rebuild infrastucture in america. Reinstall civil liberties and the implamentation of the neccassary tools to insure they stay in place. ect .FED WILL BE ACCOUNTABLE FROM DAY ONE AND WILL BE REVAMPT . They will not be allowed to further damage the country . However how much can be accomplited without congress?
If voting could really change things,
it would be illegal. Here is hoping for change!
ALL IN GOOD TIME,,,
AS THE GOOD DR HAS STATED: It depends on what you want the roll of government to be ,,,, you simply can not wipe the slate clean one step at a time. out of iraq ,,turn loose of unwanted influance around the world ,,rebuild infrastucture in america. Reinstall civil liberties and the implamentation of the neccassary tools to insure they stay in place. ect .FED WILL BE ACCOUNTABLE FROM DAY ONE AND IF NESSASARY WILL BE REVAMPT . They will not be allowed to further damage the country . However how much can be accomplited without congress?
If voting could really change things,
it would be illegal. Here is hoping for change!
...Thanks everyone for your
...Thanks everyone for your input...it all makes sense now. I need to stop hanging on every word he says and take him too literally and out of context...the man is a genius...I feel alittle more like an American who can be alittle more proud of his Country with each passing day. RON PAUL RevolUTION...May the Constitution be with you!
T.K.
It would also cause
economic turmoil to try to just stop it. Just like he knows kicking all the current dependents of Soc Security would be wrong.
Liberty = Responsibility
Liberty = Responsibility
Uh...The Fed is a PRIVATE company
That would be against the Constitution to take their property away from them. Cmon I thought us Ron Paul fans knew about the Constitution.
Exactly,... let's understand that DR PAUL understands
what he is doing and what he is able to do. Besides if we dump the Fed cold turkey, that wouldn't help the already crumbling dollar. Ease out of it with a competing currency and get away from miserable fiscal policies. Hang in there folks... there's THE Doctor in the house.
....where the Spirit of the Lord is, there is LIBERTY. 2 Corinthians 3:17(b)
***wants are unlimited, means are scarce...***
By introducing a competing
By introducing a competing currency you effectively eliminate the Fed. After all, if given a choice would you even consider accepting debased US dollars if given an alternative to accept payment in gold or a gold backed currency. Ron Paul knows that Good Money will drive out the Bad Money in very quick order. Let the Fed inflate, the people will not accept US dollars but instead will insist on the competing sound money. In other words, NO Contest!
Fed Worried
A bit off topic- but did you catch the History channel's post card of the Fed- World's Mightiest Bank? They must be very worried or else they wouldn't be putting this kind of disinfo out. It opens with uniformed staff moving around gold bar and then switches to a room full of computers. They announce that digital money is better- faster, safer and easier or some such nonsense.
We must be making headway or they wouldn't be putting out this crap. I was a little disconcerted when I heard Dr. Paul say he wouldn't abolish the Fed- but now I agree competition with sound money would accomplish the same thing.
I'm back to campaigning!
Even if I don't agree with Ron Paul
on some of his stances. I trust him enough to know that he will do what's best for America and will not deviate from the Constitution. And what more can you ask of a president?
This is why I support him.
If he were to create a competing currency
would the government use that currency to pay it's bills or would the government still use fiat money?
Yes
competing currency does the trick.
WAHOR!!
http://www.dailypaul.com/node/48994
The solution
like most solutions it is better done with a scalpel than a broadsword.
Here's what I think he wants, which is what many people have wanted done in the past.
Legalize competative currency. This would give way to using gold and silver as legal tender as no one is going to use currency backed by nothing. As it goes, the federal reserve note is losing value because of wasteful spending.
With competition you get lower interest rates and more responsibility.
If the Federal Reserve doesn't do a good job then it will fail, it's bound to fail anyway and take people down with it. With a competative currency you at least have an out for people, a choice.
The President's job isn't to write executive orders willy-nilly, it is to be the Commander in Chief. He wouldn't forcibly dissolve the FED, he would let the competing free market deal with it. If the Fed isn't competative, with lower interest rates, then it will simply fail.
The End
Excellent Five Part Video on
"How Banks Rob You."
http://www.notjustnotes.ws/howbanksrobyou.htm
TROLL
TROLL
What's makes asking a legit
What's makes asking a legit question troll-ish? This is an opportunity to educate. Acting as if someone should have all of the knowledge about everything already is utterly ignorant.
...Thanks for
...Thanks for understanding...after reading everyones thoughts about my question, I think I may have taken his comment of not being in favor of closing down the Federal Reserve too literally... I understand his plan to allow competing currency (backed by Gold, silver) that would lead to the eventual death of the Federal Reserve notes and Federal Reserve itself...I just wish he would have mentioned that...I mean he has introduced legislation before to abolish it...but you know, I think he got the point across well enough in the confines of the interview...I have to stop hanging on every word he says, he is just such a hope for our Country, it is hard not too!
T.K.
Trolls are our friends
They help the message get out. If they left, how would we be able to use logic, reason, and facts to sway visitors?
The support for other candidates will wane miserably.... those who use the net know where the action is....
America is sick, call a doctor! Dr. Ron Paul.