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The popular uprising against central banking

http://www.amconmag.com/article/2009/feb/09/00016/

By Thomas E. Woods Jr.

The way Ron Paul tells it, his more than 30 years of speaking and writing about money, inflation, and the Federal Reserve System attracted only limited interest outside libertarian and constitutionalist circles. The subject, and Paul as its spokesman, were scarcely to be found in the media, even—or perhaps especially—on the business networks.
But Paul’s 2008 presidential bid changed that. Suddenly the Fed was on the table for discussion for the first time since Congress established it in 1913. With Paul making the evils of central banking and fiat money a theme of his campaign, the issue took on a vigor that few expected. Even calling for the Fed’s outright abolition was longer unheard of on the television news networks.
When Paul first raised the issue in his campaign, he had no idea what he was tapping into. “I didn’t realize people your age knew so much about money and inflation,” he told a rally at the University of Pittsburgh last year. “But it gets the largest applause at college campuses. I figured the first time it happened [at the University of Southern California] it was an accident. … But then at the University of Michigan, they started to burn Federal Reserve Notes.”
To Paul’s surprise, some of his loudest applause lines involved salvos against the Fed. Chants of “End the Fed!” greeted his denunciations of the economic damage the central bank was unleashing. An underappreciated reason for Paul’s fundraising prowess was his outspoken opposition to the Fed, a subject that had long been off limits in American politics. Eventually, a national organization called End the Fed, with local chapters around the country, gave institutional expression to the issue, sponsoring a series of demonstrations against the central bank in 39 cities last November.
This is a new phenomenon on the Right. The libertarian and conservative think tanks that liberally invoke the names of Austrian School economists like F.A. Hayek have tended to ignore these men’s opposition to central banking, a position too politically incorrect even for those who pride themselves on their willingness to defend unpopular positions. The Ludwig von Mises Institute and the Foundation for Economic Education have been among the handful of exceptions to this rule, providing the scholarly infrastructure to convert what was sometimes an inchoate unease about the Fed among Paul supporters into well-honed arguments.
Unlike in the past, moreover, commentators with high media profiles now defend this view of money and central banking. Peter Schiff, president of Euro Pacific Capital, may be the best known of these. Schiff foretold the crisis before it happened, including the bankruptcy of Fannie Mae and Freddie Mac. His books Crash Proof and The Little Book of Bull Moves in Bear Markets, both of which have sold well, take an Austrian approach to current conditions. A grassroots movement is even trying to draft Schiff, a resident of Connecticut, to run for U.S. Senate against Chris Dodd in 2010

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http://www.amconmag.com/article/2009/feb/09/00016/



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Not to rain on the parade,

but I see alot of people saying "end the fed," who are simply agreeing with Dennis Kucinich's position that the Fed should be under the control of the Treasury department. Or they what to "end the fed" because they say it's "private," as if public/government central banking is preferrable. Or they oppose the Fed because they have the false belief that the Fed is in business to enrich itself, when the truth is the government requires that they turn their profits over to the Treasury (after paying salaries, Bernanke makes under $200k btw).

Not enough people calling for ending the Fed, at least among the riffraff so to speak, understand that the reason to oppose the Fed. The reason to oppose it is what Woods points out. Central planning of the money supply doesn't work. We don't want the Fed controlling the money supply nor do we want the Treasury to control the money supply. We want no central control of the money supply, period.

If there is a "popular uprising," I think it's largely a clueless popular uprising.

-------
The Fed is not a private bank. PRIVATIZE THE FED!!!
"The Federal Reserve Banks should simply be regarded as governmental agencies." -Murray Rothbard
"I now call the Federal Reserve the fourth branch of government." -Ron Paul

Well if you are interested in the complete history of the

movement, it goes back to Ezra Pound and Eustice Mullins. Here is a 1989 video of Mullins talking about encouraging RP to run as a Republican.

http://www.youtube.com/watch?v=XsYUZtGAaFY

I used to watch a lot of Eustice Mullins last year

Thank you for the links....

peace patriot*)

"(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies." ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Eustice puts a 200 year history under the FED

and the corporate monopolies.

American history can not be understood without understanding the influence and actions of the international bankers.

Just think what this country would have been like without the War of 1812, Civil War, Depression of 1929, WWI, WWII, the Vietnam War, the assassination of the Lincoln and Kennedy, and the current financial mess we are in now.

yep

That's why that truth was so dangerous to the elite that they put him in a mental institution for many years...even there he was still visited by the famous and important people of that time.

"(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies." ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Ralph I agree

Ezra Pound was the most popular contemporary American writer in the 30's up until the state jailed him in the mental institution for exposing the truth that bankers caused first world war....

Four of Ezra Pound students went on to become Nobel Prize winners....

"(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies." ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Most important excerpt of the article

"The most significant argument against the Fed, though, is not political but economic. The Austrian view is that a central bank is not merely unnecessary but harmful. There is no need for a monopoly institution, by means of artificial money creation, to prevent the natural and healthy phenomenon of falling prices."

The key to understand is that government (via its legal tender laws) are giving power to the Federal Reserve to enforce its monopoly on money production.

We need to Legalize Competing Currencies

my jaw dropped when I saw New York Times link to it!!!!

http://ideas.blogs.nytimes.com/2009/02/11/fed-up-with-the-fed/
amazing!*)
The New York Times!

but then NYTimes has a book by the author of this great article Thomas E. Woods Jr. on the number 2 spot in their bestseller list for non-fiction.

"(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies." ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15