Congress debates the fate of the Federal Reserve Bank

It looks like people are finally awakening to what the monster that is the Federal Reserve Bank is all about. It has debases our currency by over 95% since its creation and has done little to stop financial catastrophies during its 100 year reign.

Now, legislaters are taking a serious look at the fate of this entity with proposals to either reform or outright abolish the Fed. With the committee led by Ron Paul, something good might actually come out of congress for once.

Congress Debates the Federal Reserve: Reform or Abolish?

In a rare moment of bipartisan unity, lawmakers and economists on both sides of the aisle largely agreed on two points: The Federal Reserve System as it stands is hurting America and something must be done to stop it. Just what exactly needs to happen, however, was the subject of considerable debate during a Subcommittee on Domestic Monetary Policy hearing Tuesday chaired by sound-money advocate and GOP presidential contender Rep. Ron Paul (R-Texas).

Dr. Paul, of course, has become famous around the world for his tireless efforts to audit, expose, and abolish the central bank. He even published a best-selling book in 2009 entitled End the Fed, a title that has become a rallying cry for millions of Americans angry about the institution’s multi-trillion-dollar bailouts, market manipulations, corruption, and debasement of the currency.

The subcommittee hearing, entitled “The Federal Reserve System: Mend It or End It?”, examined a range of different proposals to reform the nation’s monetary system — it was supposed to look at six different options emanating from both parties. One of the measures on the agenda was Congressman Paul’s own “Federal Reserve Board Abolition Act,” legislation to dismantle the central bank and restore sound money based on market principles.

The New American

Check out the link to read more about the proposals being discussed to deal with the Fed.

Will Congress finally do something about this monster or will they somehow fail us again like they always seem to do these days?

reply to post by FortAnthem


Great that there is discussion however do we really expect things to change as a result of this? Most people I chat with are still not aware that it has nothing to do with the federal government...

Seriously? Followed by a loud explosion, leaving all Congress members eviscerated. I find this very difficult to swallow.

JFK and Abraham Lincoln both wanted to do what Ron Paul is now trying to do.

Would the average American vote for JFK or Lincoln if they ran against Obama? I think so.

People need to realize the Patriotism and integrity of Ron Paul.

The only logical choice for anyone who doesn't suffer from ignorance and mind control is Ron Paul.

God Bless you Ron!

You can watch the hearing here:
C-SPAN

reply to post by FortAnthem


i have so many thoughts on this. Congress is underfunding holder because of fast and furious and congress is using a Ron Paul idea to look into the fed. The president is backing gay marriage. WTF happened while i slept last night? It's like our government has been the Grinch then they suddenly grew a heart. I mean I will take this as good news but it leaves me wondering WTF is going on why are they suddenly listening to us and actually doing something besides passing laws that take away our rights. Its like when your toddler suddenly starts acting super nice you begin to wonder "what kind of mess did you create now"

reply to post by digital01anarchy


Color me excessively suspicious. Whatever color that is.

The fact that this is finally being discussed in Congress is a huge step forward. Whether or not it goes anywhere from here is another question, but Ron Paul has come a long way. Before he ran in this race there were very few people who were aware of this problem. Now you've got thousands upon thousands chanting "End the Fed!". He has accomplished something here. He brought awareness to many of us. I think once our generation begins to replace the current politicians in power, things will start changing.

I'm trying to find the conspiracy in this. Somebody help me out.

It's not like I expect anything good to come of this. Is the Fed somehow manipulating us; do they have some replacement in mind, except they're just not going to call it "The Fed" anymore because the name has been tainted? Is this just a lot of smoke and noise--a diversion while they pull some other s#!+? Right now that's my stance on this: A diversion while something else is going down.

Sometimes I hate being so cynical, but that's the level they've brought us down to. We have absolutely no reason to be hopeful, and it's enough to make me puke that they're pretending they're going to do something good while no doubt planning something evil behind our backs....

Senate hearing on Federal support for financial institutions:
C-SPAN

I wonder what Bernanke thinks about all this.
Maybe his head exploded when this news hit the wire.

Men will die if the powers behind the Federal Reserve honestly believe they are truly threatened.
This is not something that is simply up to congress to decide and *poof* it's gone.

It will be much harder to get rid of this time but I think if the people of America have the will to tackle the "real" problems then this is a good place to start.

Originally posted by MrUncreated
reply to post by digital01anarchy

 

Color me excessively suspicious. Whatever color that is.

agreed!!!!!!!!!!!!!!!!!!!!!!!

With the age if digital currency the Federal Reserve is a dinosaur that should become extinct hell should have never been created.

We have Wilsom to thank for it's creation and we have Nixon to thank for taking us off the gold standard.

Peas in a pod so forgive me Government did create that thing so i do not really seeing them ending it.

reply to post by trouble_every_day

I'd be a little concerned for Ron Paul, he has the right idea to dismantle the FED, however these guys aren't going down without a fight if this passes (which I find necessary, but unlikely) and they likely to make examples of people that mess with them. Ron Paul it seems will be the next sacrifice on the alter of truth, just as JFK was in his time and Lincoln was in his. I really hope I am wrong, because we don't need another good politician dead at the hands of the money power.

Cheers - Dave

"Hey, lets discuss it then the sheeple will think we are on their side. Then when it is time for a decision to be made, we can split along party lines, and people will blame the opposing party for not fixing the issue. Any and all proposals will be shot down, and we can save face, and keep our money and power they have allowed us to have over the people."

Do you honestly think the powers that be will allow this? Fact is the FED own them, and can easily blackmail congress and our country.

Sorry this is nothing but a smoke-screen

I hope I am wrong, but remember these are the same people who voted for NDAA

Originally posted by tw0330
"Hey, lets discuss it then the sheeple will think we are on their side. Then when it is time for a decision to be made, we can split along party lines, and people will blame the opposing party for not fixing the issue. Any and all proposals will be shot down, and we can save face, and keep our money and power they have allowed us to have over the people."

Do you honestly think the powers that be will allow this? Fact is the FED own them, and can easily blackmail congress and our country.

Sorry this is nothing but a smoke-screen

I hope I am wrong, but remember these are the same people who voted for NDAA

edit on 9-5-2012 by tw0330 because: (no reason given)

Yes. My point exactly. These people DO NOT represent US. They have absolutely no reason to stop the gravy train--certainly not on our account.

The Fed's charter expires in 2013 anyway. Why wait until now? My suspicion is that they'll end the Fed, per se the Fed, but put the same damn people in charge of whatever they replace it with.

I know they're trying to soothe our anger--shut us up about it while they do something just as bad, or worse, behind our backs--and it just makes me angrier....

I agree with this being done for public appeasement in some form or another, as the congressmen may be just learning enough so they can pander on this issue to their constituents. There is absolutely no way any action will be taken here concerning the dismantling of the Federal Reserve. There could be financial regulations as a result of this meeting, which would definitely be a start to temporarily fixing the economy. (Still have fundamental problems with the structure of the monetary system.) I would think reinstating Glass-Steagal could be a possible outcome of the meeting. In any case, we can bet on the fact their constituents will be taken care of. By that, I mean the corporations and Wall Street will still be able to rake in billions through dubious means and usually outright thievery legally. Their buddies in congress would never let them lose their ultimate power and wealth. NEVER. So we have to remember, don't trust a politician. That goes for Ron Paul, too. (He is no Jesus Christ and he has suspicious ties to the Constitution Party that coincidentally runs on his EXACT platform. They want to install a christian theocracy, no joke. I don't want to debate that, just wanted to pointed out that there is no "messiah" when it comes to politicians and we must watch ourselves in order to not worship candidates and let our critical thinking caps fall off.) We will find out soon enough what the results of this meeting were.