Populists Back Ron Paul's Plan To Kill the Fed

Populists Back Ron Paul's Plan To Kill the Fed

www.americanfreepress.net

The trillion-dollar Wall Street bailout plan negotiated by the White House and Congress has reinvigorated the debate about Texas Republican Rep. Ron Paul’s Federal Reserve Board Abolition Act (HR 2755), which was introduced into Congress in June 2007.

In the halls of Congress, legislators have yet to bring Paul’s bill to the floor. It is currently languishing in the House Committee on Financial Services.

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Now is the time for Americans to fan the flames. Call your congressman and two senators and ask them to support Ron Paul’s bill, which would abolish the Fed. There can be no end to these manufactured financial crises until the government gets rid of the Fed and replaces it with honest, debt-free money.

[cont.]

There has been a great deal of discussion about this landmark legislation on the Internet and in the alternative press. Constitution Party presidential candidate Chuck Baldwin has even made abolishing the Fed one of the top planks in his platform.

Paul’s measure, as it is now, would kill the Federal Reserve Act and would then phase out the Federal Reserve one year after the bill becomes law.

The Federal Reserve Act, passed by Congress in 1913, laid the foundation for the creation of a privately owned and controlled central bank and gave private bankers the power to control the nation’s money supply.

Nearly 100 years later, the role the central bank has played in the financial scandal has been widely reported in the mainstream. Former Federal Reserve chairman Alan Greenspan, once heralded as “the maestro,” has been feeling the heat for supporting the deregulation of financial institutions and flooding markets with cheap dollars.

U.S. News & World Report had a recent commentary titled “From Enron to the Financial Crisis, With Alan Greenspan in Between” excoriating Greenspan, who as the nation’s top banker, repeatedly downplayed the risks associated with derivatives even after the collapse of Enron in 2002.

On September 27, The New York Times also hit Greenspan for his failure to watch over and regulate greedy banks. To its credit, the Times also blasted Congress for dismantling important safeguards, including the Glass-Steagall Act, which kept commercial and investment banks at a safe distance.

“Now we know that an entire ‘shadow banking system’ has grown up,” wrote the Times, “without rules or transparency, but with the ability to topple the financial system itself.”

Even the cable news shows are getting in on the game. NBC’s cable news show interviewed well-known investor Jim Rogers, who made a fortune betting on commodities markets.

“How much money does the Federal Reserve have?” asked Rogers. “I know they can run their printing presses forever, but that is not good for the world. Inflation is not good for the world. A collapsing currency is not good for the world. It means worse recession in the end. . . . I would abolish the Federal Reserve.”

Neo-conservative talk show host Glenn Beck has also assailed the Federal Reserve for its role in the financial crisis. On September 15, Beck had a lively debate about who exactly owns the Federal Reserve.

“The Federal Reserve has nothing to do with the government,” said Beck. “It’s a separate, global banking system. . . . And when everyone was meeting with our Secretary of Treasury Henry Paulson, I thought to myself: ‘Who the hell is representing us, the American people?”

Ron Paul financial advisor Paul Schiff responded: “The Fed got us into this mess. It drives me crazy to see Alan Greenspan on television talking about this ‘100 year flood,’ like the events that are taking place today are random and have nothing to do with his monetary policy. He blew up the bubble, and now it’s burst.”

Wall Street Journal editorial writer Steven Moore added: “And by the way, who elected Ben Bernanke? Who elected Alan Greenspan?”

www.americanfreepress.net
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reply to post by GoldenFleece

Call your congressman and two senators and ask them to support Ron Paul’s bill, which would abolish the Fed

The same Senators and Congressmen who ignored the 80% of the population that called them expressing their desire to kill the bailout? Something tells me that they don't give a rats "you know what" about what you or I think.

The first step in waking everyone up would be a simple audit (or not so simple, perhaps). That is what Dr Paul presented to the American people, once again, after the bailout was first rejected.

The problem, I think, is that an audit would be performed by the IRS. Anyone see the issue there?

Lots of outside oversight would be required...

Naomi Klein, author of The Shock Doctrine, pegged the criminal BushCo cabal:

"The Bush administration doesn't believe in the free market. They have invented no-risk capitalism. They've spent seven years transferring public money into private hands. Their final act is taking private debt and transferring it into public hands."

reply to post by GoldenFleece

Their final act is taking private debt and transferring it into public hands."

I hope that the combination of my quote, picture and this explanation will remove this from the 1liner category.

[edit on 5-10-2008 by Karlhungis]

Yes, they ignored us. And yes, they will probably ignore us again. But at least we can make their lives miserable, flood the mailboxes, crash the servers and hopefully give them many, many, many sleepless nights worrying about re-elections.

According to the web-bot and timewave people the politicians will have alot more to worry about than elections very soon.

[edit on 5-10-2008 by 2stepsfromtop]

There is no looking to government officials of the elected variety to address this issue.

Even the honorable Dr. Paul cannot breach the will of the transnational bankers at this juncture.

The system has been altered to protect them and their agenda. It will not be the system itself that 'fixes' this problem. In fact, the system shows every sign of being managed and driven to a specific end. The crushing of the American economy. Every act they take is sold on an almost religious faith in the profit-based paradigm of the Fed and its self-destructing monetary policy.

There is no more room for debate and 'political' solutions to a crisis manufactured and exacerbated by those who were oath-bound to fight it tooth and nail - and there 'esteemed' appointees.

People who will decry the events as reality shows them to be are in short order, and they are not long to prosper, or have access to the means to spread the word.

An esteemed colleague of mine questioned my categorization of those passing the bill as traitors. When I told them they circumvented the Constitution, he looked at me blankly, as if such an assertion was ludicrous.

These are the true future victims. God help them, for they are not helping themselves, nor each other, as they rally and cheer around around the burning edifice that is our national integrity.

May Ron Paul continue and gather more support, for at least he did represent the truth to the American people, who were busy at the time watching the pixies and wizards in politics on their Hollywood platforms.

Originally posted by 2stepsfromtop
According to the web-bot and timewave people the politicians will have alot more to worry about than elections very soon.

Yes, I think you are right. It will be very interesting to see if or what happens on October 7th.