Video: Congressman Ron Paul's Hearing on the Price of Money - Sept 21, 2012

it's called:

End the FED!

BUMP

Just posted an excerpt and link to the transcript of this important hearing, here :

http://www.dailypaul.com/266429/ron-paul-speaks-on-the-price...

There are a lot of deep points going on here which at times seemed to even give Dr. Paul a challenge.

Most interesting to me was the speculation in this committee of how "un-winding" the mess they've created will affect society and how to do it without a total (and sudden) collapse.

Not even these experts seem to know exactly how things would go.

Let's face it, the bankers have turned banking into a very complicated thing, when in reality it should be very simple.

That is due to 2 major reasons the way I see it...

1. Fractional Reserve banking is just plain IMMORAL (Because THEY DON'T HAVE YOUR MONEY),

2. Central banking was created to try to cover up (and hide the consequences of) the immorality of fractional reserve banking.

But now we're in so deep and so dependent on them artificially propping things up that I don't believe there's any way to correct it without a financial disaster.

The patient is totally dependent on the drug now as Dr. Paul says.

does it seem like Mr. Luetkemeyer is completely in over his head? I understand that he is a congressman, correct me if I'm wrong. He asked what would happen if the market were responsible for buying US treasuries and if it could sustain such a burden. Well... No shit the market wouldn't sustain negative interests rate on treasuries representing a nation who's debt is at 100%+ GDP! The rates would go through the roof, but it's almost more indicative that he would imply that the Fed could continue to finance the US bond market and that would somehow keep a crisis at bay indefinitely.

It is most unfortunate that we do not teach Austrian economics, thouroughly at least, in most universities. Maybe one day we could expect our elected officials in charge of monitary policy to understand the effects of artificially low interest rates and malinvestment.

They don't read the bills, they don't go to important committee meetings like this, they don't read about economics or don't have a good understanding of the constitution. Why do we pay them salary and benefits for doing nothing! On another note, it makes me smile when these guys praise Dr. Paul for his time in office.

What is glaringly obvious is those members of Congress who did not attend this hearing. The payments made to those who want to continue this train wreck called “fixing the economy” by the Fed must be very large or those who want it to continue are very naive. Either way things will continue straight for the bankruptcy cliff and at least Ron Paul et al can say we told you so.

Ron Paul is my president.