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Ron Paul Discusses Financial Turmoil and the Fed 9/18/08

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September 18, 2008 – Comments (13)

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

- Thomas Jefferson 

Half a trillion dollars in bailouts, then the media goes to Ron Paul for advise. Mark Ron Paul's words in this interview.

Ron Paul Discusses Financial Turmoil and the Fed 9/18/08

Reference:

This Congressman warned of the Credit Bubble June 16, 2002

Someone predicted this economic collapse A year ago, who?

Ron Paul Discusses Financial Turmoil and the Fed 9/18/08

The amount of lying on the part of the government and people involved in this debacle is overwhelming, the biggest challenge is to find the "truth tellers" in a game where the majority in the "public eye" seem to be, criminially inept,  horribly stupid or just plain pathalogical liars. 

Maybe it has always been this way, but with the internet, catching paid liars and idiots etc.... has never been easier.

Criminially Stupid? But he probably made millions for himself? Head of S & P Rating Agencies.

 

This guy manages $150 billion dollars? Seriously


Curbing Short SellersOne of the nation's top pension funds taking aim at short sellers, with Christopher Ailman, CalSTRS CIO and CNBC's Maria Bartiromo.

To quote Barry Ritholtz 

"Wow, this guy Christopher Ailman is utterly clueless.  I don't usually say things like this, but "Way to keep your eye on ball, genius!"

I don't have much of a problem with the uptick rule -- its pointless, and is easily worked around by hedge funds -- but i can take it or leave. And, I agree that rules against naked short-selling -- already illegal -- should be enforced.

But if you think the current economic, credit and financial problems are caused by shorting, you are simply a smoking too much dope. (Don't do drugs, or you will end up a brain-dead piece of lawn furniture).

Idiots . . ."

Watch this insane idiot: 

http://www.cnbc.com/id/15840232?video=859220651

More lying: 

McCain Blasts Wall Street, But Employs 83 of Its Lobbyists

and more:

McCain Lies About Reformer Credentials

 

FYI -

Peter Schiff to Don Harrold: Let the Free Market Work it Out!

 

Humor:

I got this in the mail today from AIG ... seriously [PIC]

13 Comments – Post Your Own

#1) On September 18, 2008 at 9:02 PM, abitare (92.53) wrote:

FYI -

Contrarian investor Bill Fleckenstein finds the move outrageous. “Short sellers if anything have been warning about these problems. To change the rules in the middle of the game because they don’t like the outcome is just a disgrace,” he says on Fast Money.

Essentially, Fleckenstein feels if the shorts drove these stocks to levels they were not warranted buyers would have stepped in and the price would have corrected.

And that’s not all. Fleckenstein feels like the move is the equivalent of market manipulation on the part of the government. “To change the rules almost overnight on the day before an expiration is almost like market manipulation on the part of the SEC!” he concludes.

Should be interesting.

Fast Money 18 Sep 08 

 

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#2) On September 18, 2008 at 9:11 PM, abitare (92.53) wrote:

Greenspan: This Is The Worst Economy I've Ever Seenhuffingtonpost.com Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation on Sunday, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.

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#3) On September 18, 2008 at 9:14 PM, dexion10 (27.75) wrote:

nice post on bill fleckensteins comments.. you should post that as it's own blog post...

I concur with his thoughts.

Shorts will be steam rolled at the open... this gap up may not be filled for years... this is a bottom.

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#4) On September 18, 2008 at 9:22 PM, abitare (92.53) wrote:

dexion10,

Good call, let me let this post run a little longer and WILCO.

FYI -  the video is on Fast Money toght on the cnbc.com page. 

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#5) On September 18, 2008 at 9:34 PM, russiangambit (29.40) wrote:

Yeah, Ron Paul, tell them like it is. So, why again McCain is the republican candidate and not Ron Paul? I will never get it. The most intelligent and honest person in the government is not good enough?

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#6) On September 18, 2008 at 9:44 PM, Option1307 (29.83) wrote:

Oh course not russian...I mean dah!!!! Don't you know that the most desired/only trait to be a good poitician is dishonesty/sutpidity....

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#7) On September 18, 2008 at 9:44 PM, abitare (92.53) wrote:

russiangambit,

Ron Paul - Electability - Censored by Fox 1-10-08

 

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#8) On September 18, 2008 at 9:52 PM, ikkyu2 (99.17) wrote:

Horse is out of the barn, clear over in the next county.  A lot of people saying it should not have been allowed to get this far doesn't amount to much more than a lot of chin music.

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#9) On September 18, 2008 at 10:06 PM, Harold71 (22.28) wrote:

I'm pretty sure short sellers didn't make all these companies go bankrupt. 

You can ban short selling but you can't make people buy stock. 

The big helpful gov't can't support this thing forever.  Get your barf bag ready, see you at Dow 7,000.  Please say it can't happen, you just encourage me.

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#10) On September 19, 2008 at 1:34 AM, lquadland10 (< 20) wrote:

Hey Aba, I am voting Ron Paul and I hope Nader will be his vp. I have read the books and done the homework and I am at peace with my decision. Now if only I could get someone to tell me where to get some signs that don't cost me more than 5.00 I will be in 7th heaven. Did you hear the news that The Rothschild daughter left Obama camp and is now for John? I have been enlightened and the genie must be put back in the bottle so that Indian Jones wins and Jurassic Parks does not happen. Although I have seen quite a few mutations popping up around the world. I kind of now see you as my Indian Guide.Now for other news
Chinese Parents Frantic Over Tainted Milk By ANITA CHANG, AP posted: 1 HOUR 23 MINUTES AGO comments: 126 filed under: Health News, World News PrintShareText SizeAAAswitchFont(1,"smallText"); SHIJIAZHUANG, China (Sept. 18) - Hundreds of Chinese parents, some cradling infants, converged on the company at the heart of the tainted baby formula scandal Thursday, demanding refunds and asking what they can safely feed their children. Thousands of others filled hospitals, many hovering over sons and daughters hooked to IVs after drinking milk powder tainted with melamine, a toxic industrial chemical that can cause kidney stones and lead to kidney failure.       Baby milk powder laced with melamine, used in plastics and fertilizers, has been blamed in the deaths of four babies. More than 6,000 others have been sickened. Some 1,300 babies, mostly newborns, remain hospitalized, with 158 suffering from acute kidney failure.       
Glitch Shuts Down Biggest Atom Smasher posted: 1 HOUR 43 MINUTES AGOcomments: 70 filed under: Science News, World News     
Rare Viking Shield Found in Denmark posted: 4 HOURS 57 MINUTES AGOcomments: 15 filed under: World News       
US Teen Died in Yemen Terror Attack posted: 1 HOUR 20 MINUTES AGOcomments: 6 filed under: World News      Are the powers upset that is mc cain loosing? 
Gates Regrets Civilian Afghan Deaths posted: 1 DAY 5 HOURS AGOcomments: 250 filed under: World NewsPakistan Vows Action Against US Raids posted: 2 DAYS 8 HOURS AGOcomments: 1251 
This one is important.filed under: Terrorism News, World News    important.  You know what I just thought of? Mc cain reminds me of a spartan and bush reminds me of a pirate. Now all I have to do is figure out who Obama is. 

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#11) On September 19, 2008 at 1:39 AM, lquadland10 (< 20) wrote:

Donnald Trump just supported mc cain and clintons and dissed obama

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#12) On September 19, 2008 at 9:47 AM, Harold71 (22.28) wrote:

Short money moving to commodities?  Congrats SEC, you just made gas more expensive.

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#13) On September 19, 2008 at 6:53 PM, abitare (92.53) wrote:

Harold71,

Yep. 

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