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Advice Wanted for Class Speech on H.R. 1207

Hello DPers,

I have to give a persuasive speech on a question of policy.

I need to address 3 things
~Need- There is a problem (What is that problem?)
~Plan- A solution to the plan (H.R. 1207)
~Practicality- Can the problem be fixed (Yes?)

Things I am looking for advice:
~Specific scholarly sources I could cite. Austrian Economists of course but anything in particular? Journals, books, articles?
~A visual aid. Something that would make my audience go, "oh wow, this is a problem."
~Anything that might spike the interest in the audience. These aren't people that I would say are particularly enlightened. I need to show them why action needs to be taken. I need them to care and take interest.

I thought this would be a good opportunity to try and inform a few people. If the speech turns out good, I will consider entering a speech contest my school is hosting.
If anyone knows Dr. Paul's Bill well and would like to offer some advice it would be greatly appreciated.

Thank you.

My previous speeches were on:
The Great Depression and how government intervention didn't solve anything.
Global Warming and the fact that there is still debate.
And Peter Schiff predicting the housing bubble by understanding Austrian Economics.
For some reason I haven't been getting good grades even though I'm an A-B student. Very frustrating. I really want to hit this one out of the park!

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May I suggest the failed "war on drugs" for your next project. I would focus on marijuana. There is plenty of data and common sense backing up that argument. You could throw in HR 1866 too. No one in their right mind could disagree with that bill. Keep up the good work.


Good idea

You might want to mention that the federal reserve board are NOT elected officials and the Federal Reserve is of course NOT a federal agency. Mention the percentage loss of the value of the dollar since the fed was created. (in the 90s-would have to research). Mention who (international bankers: Rothschild, Rockefeller, JP Morgan) wrote up the Federal Reserve Act and where it was conceived. (Morgan's private estate on Jekyll Island) More or the less, the main point is that Congress and the people have no power over the Federal Reserve and transparency is needed. Good Luck!


Advice: Play their game.

Connect inflationary policy to unsustainability. BJ Lawson talks about this a lot.

When you inflate, you encourage short term investment. Why is there no market tendency to renewable resource-based energy? Because inflationary policy pushes investors to malinvest. Gradual deflation due to a fixed money supply would force the investor to compare against the cost of *not saving*, which brings about more long-term capital investments. Furthermore, environmental protection via endowed charitable organizations (especially small, local ones) would actually be possible since those organizations would not lose their savings to monetary depreciation.

True conservatism is actually the ally of conservationism.

There are two other "big theory" ideas that I like to tout:

The first is that inflation hurts the poor person far harder than the rich person. And it doesn't help people in debt - it actually only helps the rich who are in debt. So inflation drives a wedge between the rich and the poor. Note that the divide between the rich and the poor has been expanding ever since 1915 or so. This should not be surprising.

The second is that inflation artificially places a preference for value created in the future relative to value created in the past. (by making it inexpensive to borrow money, the money that you pay back is cheaper). However, the fundamental problem is that unlike the past, we can't know what happened in the future. Insurance helps take care of some of that, but it's still impossible to set everything to the actuarial "sciences".

For example, let's say an unpredicted asteroid hits New York City. Or maybe, an earthquake levels Los Angeles. When money is based on debt, if one of these cities gets destroyed, then those people who were living there, through no fault of their own, must default on their debts, because they are dead, and cannot create very much new value. Thus those people owed money are in deep trouble, and some of these people default on their debts, and so on and so forth, and the effects of a single disaster ripple through economic society. On the other hand, in a savings-based society, while it's still sad that so many people have died, most of them do not owe, and so the lost capital is a sunk cost - the disaster is contained.

The tradeoff is this: In a society without the federal reserve continually debasing the currency and inflating the value of money away, we get a less dynamic society, and less investment. But on the other hand, we don't destroy families, we live within our means, we are less likely to destroy the environment, and people are able to save for retirement, save for their children, and give away money to charity, etc.

Running a secular inflation regime is like putting society on methamphetamines. Sure, you're more productive for a short time, but eventually you become unhealthy and you either expire or come down off of your bender. And withdrawal is never pretty.

~Need- There is a problem

~Need- There is a problem (What is that problem?)

-Business Cycle(good 'so what' factor because of current events)

-Inflation(rising prices).
Negative effects: http://mises.org/efandi/ch18.asp

~Plan- A solution to the plan (H.R. 1207)

1207 wont solve this problem but it will put monetary policy more in the public view and therefore make the people aware of what is going on

~Practicality- Can the problem be fixed (Yes?)

obviously. These problems are artificial creations of govt.

Ventura 2012

You're wasting your time.

A college degree is worthless. And 435 people have no right to decide whether or not we should or shouldn't have a fiat money system.

Instead, spend some time researching local currency. Then knock on doors in your neighborhood. Ask your neighbors how they make a living and then get them to trade their products and services for credits at a neighborhood barter exchange.

College degrees are not worthless

You right if your talking about a general business degree or creative writing or psychology or anything like that, but there are still degrees that are worth working towards. I'm finishing a mechanical engineering degree and it will open up a lot of doors for me. America needs to be the manufacturing giant it used to be and I'm positioned to make that happen. And if the US sinks, I'm marketable in other countries. I might need an advanced degree down the line, but you have to gain skills and make yourself marketable. Just my point of view, Take Care


How about some simple stuff for the interest angle?

Use a part of AFTF such as the idea that Aaron Russo's parents bought a house in the 50's for $25,000. There has been no new schools, same old neighborhood, etc... and it is now $250,000. Why? Shouldn't it depreciate?

Using G. Edward Griffin - use the idea that an ounce of gold for literally thousands of years buys essentially the same thing - a nice suit and fancy shoes.

In terms of the FED - I think just explaining that our monetary policy happens in secret with a lot of foreign interests might be enought to peak interest.

Inflation is also a "bad word" - so you could explain the need as being the curbing of inflation. (real inflation has been quite large in the last year - haven't you noticed how much groceries are - and it can't be blamed on gas prices. Also - boxes are the same size but the amount of product has gone down - as in cereals and cookies. That might be interesting).

Just a couple thoughts - it is an awesome project. I'm old - so I have no idea what might appeal to your class. But, if you are trying to appeal to the instructor only - that is a whole other ball of wax.

"We are the inheritors of the American Enlightenment, which tells us that Individual Liberty always trumps collectivism in all forms."

"In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot."--Mark Twain

You may want to...

contact Dr. Paul's congressional office in D.C. I would bet they would be happy to assist you on HR 1207..
My 2 cents...mention the impending "runaway inflation" which is soon to be upon us.

Runaway inflation will

Runaway inflation will definitely be a talking point of mine.

I hadn't thought of contacting his office. Great idea!

Rich get richer til the poor get educated.


I'll check through my stuff and see if I can't find some more specific references, but Mises.org has a plethora of works by Austrian economists online that you can download in pdf form for free, or listen to on audio. In general a great source. You might be able to find there a book called "Austrian theory of the trade cycle" that has 4 essays, including ones by Rothbard and Mises, explaining how the expansion of credit leads to a misallocation of capital, the distortion of chains of production, and an eventual bust. Great essays even if not germane to your presentation. Good work!

Mises had the collection of

Mises had the collection of essays in PDF. It's amazing the wealth of information they offer for free. There is some great info in that book that I think I can use for my speech.

I wish we were learning this kind of stuff in school.
Austrian economist Hans-Hermann Hoppe used to be Professor Emeritus of Economics at my school. Would have loved to have taken some of his classes.

Rich get richer til the poor get educated.

So HR 1207 is trying to

So HR 1207 is trying to provide transparency, right? To provide some accountability for all the trillions of dollars they've printed with no congressional oversight. Correct?
What will this accomplish? Through more transparency, the Fed won't be able to dole out our money as they see fit?
Just looking for some clarity.

Rich get richer til the poor get educated.

The Fed has refused Freedom of Information Act requests

They don't want anyone to know who they are giving money to. You have to ask yourself, why?

Two recent articles to really throw you in the middle of this:



If they are audited, you can be sure there will be many angry Americans, and maybe even enough support for phasing out the Fed and forever prohibiting central banks in America.

If they are audited, it will shine all kinds of light on their entire operation.

The root cause of America's problems is the private Federal Reserve banks, controlling America's entire money supply in secrecy, with no oversight from Congress.

Ron Paul's Convention Speech

Focus on Fact That Fed Has Destroyed the Value of Dollar by 95%

And show a large graph of the historical purchasing power of the dollar over the time since the Federal Reserve has taken over.

Like this one:


Ron Paul's Convention Speech

I was thinking that would be

I was thinking that would be a good attention getter, too.
Thanks for the link to the graphs, they're perfect!

Rich get richer til the poor get educated.

I would do a little research on Nikola Tesla and all his

wonderful inventions that utilized 'free energy' or the 'aether' in the air to 'energize a system where the output is greater than the input.

I point this out because it was the very same persons who created the Federal Reserve monopoly who refused to fund this great soul because they couldn't 'meter' it.

Same goes for Raymond Royal Rife and his incredible microscope that was light years ahead of his time. How his process of high radio frequency actually rejuvenated the cellular structure within the body therefore destroying 'cancer'. He was able to see this under his microscope. 16 terminally ill cancer patients were given this treatment and all recovered. This was journalled and witnessed by I believe 8 leading doctors in the 1930's. It hit the news all over. Within weeks a Rockefeller funded doctor called it 'quackery' and denounced it as fake all over the media. Rife's laboratory was ransacked and everything confiscated by banker goons. He wasn't heard from again.

Imagine what this country would be like if didn't have the Federal Reserve. If we didn't have the AMA and big Pharma. If we didn't allow Corporations to have more 'rights' than individuals. If we actually followed the Constitution. What would it be like if we actually had a 'free press'. If TV were actually used educationally and could be used to inspire instead of deaden people.

Well, there would certainly be no WWI or WWII, no weapons industrial complex, no money in it! If our education were local and our curriculums were meaningful and brought out the latent gifts of all. Just imagine what the free market would generate for the good of all!


didn't know about rife.

Interesting information you

Interesting information you posted but I'm not sure I can relate much to H.R. 1207.

I like what you have to say though.

Rich get richer til the poor get educated.

Try mises.org

you should find everything there you need, or else links to it.

On my list

Thanks for posting.
Mises is definitely on my short list for sources.
I've read The Case Against the Fed. Hopefully I can find a few more sources along those lines.

Rich get richer til the poor get educated.

The problem is the Federal

The problem is the Federal Reserve bank has NO oversight from the government (we the people), and is not transparent. Audit the Fed.

With 1207 the Federal Reserve bank will be audited, just like the Federal Reserve bank has the IRS audit other corporations and people.

With 58 co-signers, it's hard to not to get an A

Thanks for summing it up. I

Thanks for summing it up. I just need to convince my audience that the Fed needs to be audited and how it affects them. If it were easy, Ron Paul wouldn't have to keep telling people what he's trying to do over and over again.
Like we know, some people could care less about what the Fed does (because most don't know what the Fed does) as long as they keep getting a paycheck every week.

Rich get richer til the poor get educated.