CNBC: If The Federal Reserve Is Abolished, What Then?
Submitted by SteveMT on Wed, 02/08/2012 - 11:58Yep, they are attempting to bash Ron Paul on this issue again.
If The Federal Reserve Is Abolished, What Then?
CNBC – 19 minutes ago
http://finance.yahoo.com/news/federal-abolished-then-1634486...
Posted comment:
This story is a joke.
There has never been any authority in the Constitution for a central bank in this country. Since 1913 when "The Creature from Jekyll" was created, the dollar has lost 96% of its value. Why didn't you mention that fact? What does that tell you?
"A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army." - Jefferson
Interesting topic
One very good reason why this topic is interesting, and relevant, is the concern held by those who are owed a return on their investments into the Ponzi Scheme that is The Federal Reserve System (of fraud, and extortion).
I hear a lot of people claim that Ron Paul is scary, and the reasons are not stated, just the emotion.
Possible reasons for being scared of Ron Paul,
1.
My interest or dividend payments may not continue.
2.
Oil prices may go up, without (supposedly) enforcing domination in the Middle East.
3.
My ____________ (fill in the blank) subsidy from the National Government (it is not Federal, and it is not a Republic) will stop arriving in the mail.
There are a number of people potentially having those fears listed above, and more, and it may very well be that the majority of people who also have the political and economic power to choose a nominee, or a president, are within the group that fears a loss of their interest payments, or dividends, or whatever form payments currently take as purchasing power flows from those who produce surplus wealth to those who steal it with that apparatus known as The Dollar Hegemony.
Once The Federal Reserve System is down, on schedule, there will be those left holding the empty bag, or the debt, and those still trying to collect, and one more group: those who knew the schedule and moved their denominated assets in time.
Joe
Isn't it obvious? Buy gold/silver coins
from dealers who don't keep your name/address, and stash them away. Do it before the collapse, when it will be too late to protect any assets.
And read zerohedge every day.
:)
That article was just Fedspeak
I posted this on the Robin Koerner article in response to a question about having a deflationary depression like the 1930's if Ron Paul carries out his promise to end the Fed:
"This is a first in history so there is no precedent for what is going to happen. The 1930's depression was deliberately created I believe by the bankers in order to introduce socialism into America. The bankers have tried to repeat that event on a larger scale this time around in order to tighten their grip on power in a global socialist, corporate cartel, fascist system, the final synthesis of the Marxist dialectic. At least that is what I believe they want to do.
What we shall actually see, I believe, if Ron Paul is elected, is a collapse of the global debt based fiat currency and banking system and its corporate cartel infrastructure. What exactly it will collapse into is a matter of conjecture but if gold and silver have been introduced in America then the American people will be the first in the world and will very rapidly adapt to the new reality and an entirely new free market with sound money will emerge spontaneously. The carcasses of the corporate cartels will be divided up amongst new owners reversing the consolidation of the past century.
This is not the dystopian future many imagine but it is a real possibility in my view. The deflation/inflation question is largely irrelevant since these concepts are associated with the old paradigm and that is what is disappearing. Whatever death throes occur in the FRN dollar will be reflected in the price of gold and silver and simply serve to hasten its demise as a legal tender. For some this will mean poverty and for others wealth depending upon their prescience in getting out of paper currencies. All the debts in FRNs will effectively disappear; there will be a debt Jubilee.
The one area in which I see conflict arising is from the chartalists like Bill Still and Ellen Brown who are believers in the collectivist model of government and want to perpetuate it by introducing a government issued debt free fiat currency monetary system. I have another post here dealing with that issue and explain why it is in principle no different than what we have at the moment and will eventually create more problems for any society that adopts it.
The one saving grace of their model is that they propose full reserve banking. This too however can be manipulated by the bankers into a similar situation to what we have today. In order to have a truly free society we must have sound money and a real free market, in full reserve banking as in all other parts of the economy.
"Where the Welfare State is on the march the Police State is not far behind."
Melchior Palyi Hungarian Economist
Competition = put your money where your mouth is
There is ample evidence proving the fact that gold is a competitive money, and the same is true for other competitive forms of money.
For one proponent of one money to claim that the other form of money will "create more problems for any society that adopts it" is only as true as any case where it is true. In cases where it isn't true, history records that it isn't true.
Why make such claims as if all cases must adhere to the case that supports the claim? That is a case of prejudice, that is a case of convicting every example of faults that exist only in a few examples.
Putting aside all cases of prejudice, having to do with any money system whatsoever, the concept of an enforced Monopoly Money Issue can compete side by side against the optional path; that being no enforced Monopoly Money Issue.
When there is no enforced Monopoly Money Issue there is by that absence something called a Free Money Market.
Has a Free Money Market ever existed, and if so, which money became the highest quality money and the lowest cost money as the force of competition forced the many suppliers of money to compete and offer to the consumers the highest quality money, at the lowest cost?
If that does not generate an accurate answer, then the prejudicial claims of which money is better are just claims, fiat, with no backing.
Joe
My comment on yahoo
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
When Fascism goes to sleep, it checks under the bed for Ron Paul!
I'll Tell You What Happens
Government debts to the fed are erased. Over 1 trillion. Then we nationalize all fed assets, which are nothing more than the fruits of the labor of the citizens of this country stolen from them over the last 99 years, and to whom it must be returned.
And then we put issuance of currency under treasury, and decide from there whether we want to issue non debt social currency, or use gold to back it.
Either way, when we abolish the income tax, which we no longer need to pay interest on a debt that no longer exists, we unleash the greatest period of prosperity the world has ever known.
And the 400 year reign of the banker FINALLY comes to it's end.
That article was so moronic, I felt my IQ dropping as I read it
What Ron Paul has advocated is: Just abolish the capital gains tax and reporting on gold (since the constitution defined it as money), and then...
see what the free market chooses to use as money. (And as a monetary historian, the suspense is killing me ;-) )
Nuder the fed, then make it a clearing house.
Take away the interest rate pricing authority.
Eliminate the FOMC. Re-institute a silver gold coin standard. Return all other authorities to the congress.
http://infowarswilton.wordpress.com/
The Federal Reserve Building
The Federal Reserve Building in Washington , D.C. should be converted into a prison to incarcerate the very same people that occupy it now.
Nellying little professor...
"Money is Power", or shall we say, "The Monopoly to Create Credit Money and charge interest is Absolute Power". (Alex James)
Amsel (Amschel) Bauer Mayer Rothschild, 1838:
"Let me issue and control a Nation's money and I care not who makes its laws".
The Real Question: "Will Americans Throw Off The Chains of 100 Years of Slavery in 2012?" --Google that!
www.dailypaul.com/donate
My resPonse to the question
My resPonse to the question would be "you better start off by polishing up the liberty bell, because you'regoing to want to hear freedom ring! No more debt slavery to the financial masters."
If they do not comprehend that response then they better get ready for an extensive reading list before we can agree to continue the conversation.
What happened when the monopoly on long distance telephone
service was eliminated?
Competitors entered the market, and prices for long distance calls dropped dramatically.
Same BS on CroNycapitalismNetwork (CNN)
Same BS on CroNycapitalismNetwork (CNN)
CNN's reliable Richard Quest (http://www.google.com/search?q=richard+quest+meth+sex) had it on Quest Business as well...
When Neocons & Facism go to sleep, they look under the bed for Ron Paul and "WE THE PEOPLE"!
"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." M.Mead
Rick Santelli and Steve
Rick Santelli and Steve Liesman would fight less?
Ha, lol.
And Jim Rogers would be a frequent guest.
If The Federal Reserve Is Abolished, What Then?
When the legal money monopoly is no longer enforced what then?
Competition is allowed, when the legal money monopoly is no longer enforced.
If The Federal Reserve is Abolished, What Then?
Competition forces quality up and cost down.
Money will become more powerful (quality) and money interest will lower (cost).
If all that is done is to change the sign on the legal money monopoly then the force of competition will still be against the law.
The Federal Reserve can become the National Reserve, doing the same thing, no difference.
Just like Blackwater can be accused of torture and mass murder, legal of course, and then Blackwater changes the name to Xe and then to Academi, doing the same stuff, different name.
What happens if 11 or so State Governments begin their own Sovereign Banking Systems, backing the money they produce with Gold and Silver?
Competition is then legal again, and The Federal Reserve can pound sand.
No need to abolish The Federal Reserve, it will then be game over for The Federal Reserve.
Who are all those people who claim to be owed all that National debt going to call when they want their money?
Are they going to call up the Governor of Utah?
Will he pay that National Debt with Utah money when asked?
It is almost game over for The Federal Reserve System of Fraud, and those legal criminals know it, they are moving their wealth already, paying themselves bonuses, getting out while getting out is still possible. It is an orchestrated event moving along on schedule.
The insiders are banking on a new World Reserve Currency, probably stationed in China.
World War III, which is already happening, and which may not be over until 2050, is done to cover up the move from The Dollar Hegemony to whatever the new Monopoly Bank with World Reserve Currency Status (Power) is called.
Wars are purchased by those who steal wealth through the Money Monopoly Power, and they buy wars so as to destroy all competition. It is a regular thing, on a regular schedule, it is the Business Cycle at the highest amplitude, or lowest frequency, however you want to measure it.
If The Federal Reserve is Abolished, no matter what name is on the stationary, it will be Abolished because competition forces it out, and that can happen if the States, in what is left of this Republic, produce, and maintain that competition.
Each State can then compete with each other State to supply and maintain higher quality money, at lower costs, which will translate into higher standards of living, and lower costs of living, and then people can once again vote with their feet, and by doing so that power is the power that builds a fire under the feet of those people who are employed, or hired, to run the State Governments.
That is how a Democratic Federated Republic is designed to work: making sure that competition remains in force, by not making laws that outlaw competition.
A Monopoly, on the other hand, is designed so as to make competition against the law, a.k.a. Nation State, or Consolidated Government, or Despotism, or whatever false name is painting on the false front, with the false flag.
Ron Paul says almost the same thing, in different words. He actually has a clue, and is in office, that is remarkable yes, no?
Joe