Ron paul "Thorn in the flesh" of the Fed

Originally posted by DaTroof

Originally posted by ChaoticOrder
reply to post by DaTroof

 

The Federal Reserve would benefit by having legal rights to claim the gold (whatever is left of it) in the US Bullion Depository in Fort Knox.

Why would they have that legal right? Because the Government needs to pay back everything it "borrowed" from the Federal Reserve? If that is the case, then the Government will just declare that debt null and void, throw away the Federal Reserve Notes and shut down the Federal Reserve as a central bank.

The Supreme Court would never void the debt. US Treasury Bonds can be sold before maturity, but never voided.

So basically you're saying the FED can use those bonds as a threat? Now I can understand why they would want bonds in return for Federal Reserve Notes... it was to make sure the Government had to pay it back. How freaking stupid is the Government to borrow imaginary money from them which they can simply print from thin air?!? God damn it... they should have demanded the FED simply print more notes when they need it, it's not like the FED really has trillions of dollars worth of assets backing the money it prints. Do the bond denominations also include the interest of the amount they "loan" to the Government? If so then the Government is completely screwed, because they only have the money they can get from the FED, since they have a monopoly on money creation. If not, then couldn't they simply pay back all the Federal Reserve Notes and implement a new Government issued currency?

Did you guys catch this violent act on the part of santorum against Ron Paul?


I think this is going to get much much more violent in the coming weeks. If Ron Paul did this to santorum, he would have pressed charges!

reply to post by DaTroof


little of both i am a paul supporter and as much as i would like to see the federal reserve gone, i have have some reservations on it. main concern being the federal reserve doesn't have any gold, and i think that it highly likely that the fort knox is empty (they stole everything else from us why wouldn't it be) so how would we better off having a gold backed currency if we don't have any gold? we wouldn't, we would probably turn into a third world country. so the idea sounds great untill you look at what countries have gold. how many everyday people do you know that have stock piles of gold and silver? i know 0, how would they implement the change just say the federal debt note is no longer valid use gold? everyone f'ed.

reply to post by DIRTYDONKEY


If you were to address that to Ron Paul himself it would be great. If you would like I will try to ask for you this Saturday night...

reply to post by antar

Keep fighting brother right up until November 4th 2012.

Originally posted by DaTroof
reply to post by Tw0Sides

 

While the total value of mined gold may or may not equal the Treasury Department's debt, future investment and growth in America can only be funded by foreign economies if we jump to a gold-backed currency. That's frightening.

We wouldn't have to back it with gold. Heck you can back a currency with anything. Corn, Oil, Wheat, Cattle, and hemp.

Besides, our economic systems are going to be demolished soon anyway, with the advent of 3D printing technology. That is one powder keg of technological innovation if there ever was one. It will have a bigger impact then the introduction of the factory assembly line.

I have a deep suspicion that our currency is backed by something. Life insurance investments taken out by the government for our social security numbers. "The dollar is backed by human capital." This is why, I feel foodstamp families are encouraged, immigration is encouraged. The more population, the more debt leverage our Government has to produce Bonds, and then therefore Federal reserve notes.

Thoughts?

Originally posted by antar
reply to post by DIRTYDONKEY

 

If you were to address that to Ron Paul himself it would be great. If you would like I will try to ask for you this Saturday night...

Shoot, they shuffled him out so fast that only the two top coordinators got a quick snapshot with him, the Q@A was cancelled...

At the Revolution tonight, Ron Paul was very passionate about Ending the FED and in fact said that would be his first executive order if he becomes President.