Ron Paul Flip-flop on Fed? Austin, we have a problem.....

...and give him the right to speak his mind. I think we can all agree that something needs to be done about the Fed, and no other candidate is saying this... can't we all just get along...?

I'll give you the benefit of the doubt as a "newby" to the campaign.

Ron has said for quite a while now that his way of obliterating the fed is to introduce "competing currencies" and this was echoed in his interview last month on "Kudlow & Company" following his spanking of the Fed's chairman.

Best way to put them out of business is to allow "competition" like the way most other issues could be handled (energy, education, etc).

Wolfdog,
Please listen carefully to what Ron has to say before posting. RP's words are now the most scrutinized of any spoken/written words by any presidential candiadte.

Hate povery, not the poor - Gandhi

I love this stuff!!! I read the guy's post and thought it made sense and wondered why Dr Paul was taking the approach he is taking and then read one of the posts explaining the constitution and why Dr Paul is going about this the way he is and, wow, I feel like I'm learning something. We aren't getting this kind of dialog in the media, not on the bus or in the workplace and not at my family gatherings anyway. Reasonable, sensible dialog is one of the things drawing me and many others to support Ron Paul.

Okayyy, Mr. 2 week, 3-day.

I guess I must not understand how illegitimate the Federal Reserve is. I guess holding onto a hunk of yellow metal whose uses in this world hasn't increased beyond looking shiny and is appreciating has nothing to do with the inflation caused by the Feds.

Get the fook out of here.

If we have choice in legal tender laws; then, we could use the currency that best represents our values. To add competition to the Federal Reserve Note is a free market principle. Total elimination of central banking will lead to assassinations and war. Something not to be taken lightly.

You sound like a bit of a prick. You may not be, but I just think you should look into this stuff a bit more before you make insulting implications like that Ron Paul is somehow on board with the Amero or something insane like that. Saying his campaign needs to put out some big explanation is irritating because RON PAUL HAS WRITTEN AN ENTIRE BOOK about his ideas, both policy and philosophy.

Take some responsibility and find his positions yourself. Read Dr. Paul's "A case for gold." He outlines all of this stuff very nicely.

In fact, you don't even have to buy it:

http://www.mises.org/books/caseforgold.pdf

I would recommend that anybody here read this.

only authorizes the COINING of money by Congress -- that means, Congress can only make coins of metal as money.
Section 8 -The Congress shall have Power
TO coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures....
TO provide for the Punishment of counterfeiting the Securities and current Coin of the United States.

Congress only has those enumerated powers (it can also borrow money -- which must be coined, as seen above -- but not bills of credit, which are what Federal Reserve Notes are). Notice that Congress has no power to declare anything a legal tender. Nor do judges.

The Constitution also prohibits the States from making legal tender laws for fiat currency. Section 10 - Powers prohibited of States. No State shall ...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; ... [incidentally, every State is in violation of the Constitution, as you can see]

States cannot coin money, but they CAN make gold and silver coin legal tender in payment of debts. That means, if someone offers gold and silver in payment of a contract, you must accept it.

In the US today, we have legal tender laws which force us to use the fiat currency Federal Reserve Note -- it is the forcing of people to use this currency that is unconstitutional. The Congress has forced people to use it as legal tender (backed up by the Courts), which it has no power to do.

It is this forced legal tender status which must be undone. It cannot be undone by executive order, however. Ron Paul introduced HR 2779 to repeal these types of laws. See http://www.fame.org/HTM/Ron%20Paul%20Introduces%20HR2779%20T...

The president has no power to make laws. However, he could order the Department of Justice not to prosecute legal tender laws -- that is, he could tell them that anyone refusing Federal Reserve Notes will not be prosecuted by the Federal Government, because He understands that legal tender laws are unconstitutional, and he has taken an oath to uphold the constitution, and NOT unconstitutional laws (think what fun that would be!) But it is Congress that must undo the monopoly it gave the Federal Reserve Bank and the unconstitutional legal tender laws.

That is what Ron Paul means by legalizing competition -- getting rid of the unholy monopoly of the Federal Reserve Bank. The Fed can continue to emit worthless bills of credit which are completely irredeemable, and if people accept those as payment, they will continue to circulate. But if people are returned to the freedom to contract and accept payment in silver or gold without fear of reprisal by the federal government, what do you suppose sellers will demand? That will end the Fed in short order.

Thank you for playing, we have a lovely tin foil hat parting gift for you.

Certainly no one can abolish something so big and powerful overnight but... I just need to know if there is an issue here or are there possibly some insiders trying to make Ron Paul look like a flip flopper.
This is the main issue I got behind Ron Paul so I hope nothing changes as far as at least auditing or looking into Federal Reserve issue once elected.

He 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.

Delaware......

http://www.metatech.org/the_us_constitution.html

Delaware.

Ron Paul has wanted to legalize competing currencies since the beginning. Just doing this would let the markets render the Federal Reserve obsolete during a relatively smooth transition without having to forcefully abolish it.

Hey guy listen up. You can NOT de-construct the system in a day. It would take time and most of us know this. I'm not flaming you for your concern but unless you begin to educate yourself about the money system and figure out how it operates
most here will conclude posts such as this as trolls. And furthermore, if you are
TROLLING be warned its not gonna work ;)

If the Fed were eliminated with the "stroke of a pen" massive economic calamity would ensue. Paul knows that. The Fed should only be eliminated by a gradual process of the public converting to sound money. He is for the elimination, but just not in the short term.