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abitare (99.38)

Ron Paul "Yes I Would End The Fed"

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December 15, 2010 – Comments (6)

Zerohedge and Fortune have the story here:

http://www.zerohedge.com/article/ron-paul-head-monetary-policy-subcommittee-yes-i-would-end-fed

not only does the Texas doctor make it all too clear that he once again has presidential ambitions, but when asked whether he wants to end the Fed, gives the following brilliant reply: "Well, I don't expect to. The Fed's going to end itself when they destroy the system. So yes I would end the Fed but I would do it gradually and have a transition." Good luck Ron. However, there will be no gradual transition. If anything, it will be protracted, very much involuntary, and quite likely violent, as it would mark the end of a century-long scheme to transfer countless ounces (no pun intended) of tangible wealth to the ruling oligarchy in exchange for worthless and infinitely dilutable linen.

Some of the other choice soundbites:

Will you run for president in 2012? “Sure, there's always a chance. Probably depends on my mood come next January or February. I have not made up my mind. I have a lot of people supporters who are very anxious for me to do it. Right now I'm totally undecided.”

Do you want to end the Fed? “Well, I don't expect to. The Fed's going to end itself when they destroy the system. So yes I would end the Fed but I would do it gradually and have a transition.”

But some would consider ending the Fed is a bit extreme, don't you think? “No, I think printing money is extreme and crazy. I think the obscenity is allowing the Federal Reserve to print $3.3 trillion and we don't even know where it went. That to me is what's so extreme. And that's what the American people are waking up to. Government is extremely out of control. That is what I think everybody agrees on in the Tea Party movement.”

Do you really think America could adopt the gold standard? How can this practically happen? “Look at how many people have money in exchange-traded funds for gold. Billions and billions of dollars. I've always considered myself being on the gold standard.”

More from Fortune: here:

http://www.zerohedge.com/article/ron-paul-head-monetary-policy-subcommittee-yes-i-would-end-fed

 

 

6 Comments – Post Your Own

#1) On December 15, 2010 at 10:16 PM, abitare (99.38) wrote:

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#2) On December 15, 2010 at 10:43 PM, NOTvuffett (< 20) wrote:

+1

The FED was initialy charged with stabilizing the economy, and to keep the dollar stable.  they have done a fantasticaly poor job of it.

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#3) On December 16, 2010 at 8:29 AM, Jbay76 (< 20) wrote:

I thin it'd be good to have a presidential election come down to Nader vs Paul =D

This interview and Pauls' comments are of no surpirse given his books  "End the Fed" and The Revolution: A Manifesto". I came across them via a whereaminow thread and highly suggest everyone read the books! The history behind money creation and the Fed in general is amazing.  You definitely don't get that type of education from school

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#4) On December 16, 2010 at 9:27 AM, ChrisGraley (31.45) wrote:

I hope he runs in 2012. I'd vote for him simply to end the FED.

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#5) On December 16, 2010 at 11:08 AM, chk999 (99.98) wrote:

My money is on the Fed. We will have a central bank of some flavor long after our kids are dead of old age.

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#6) On December 16, 2010 at 2:35 PM, rfaramir (30.46) wrote:

A) They are trying to do an impossible job. No one knows what the interest rate "should be" but market participants who want credit for investments each know how badly, how much they're willing to pay for it; and other market participants with savings they have accumulated that they do not immediately need, know how much they want in return for it being put at risk in investments. The *result* of all that is an interest rate. The Fed should not try to guess and manipulate, we should have liberty.

B) The Fed spends more than Congress does! I'm floored! (Again, as I heard this earlier this month.) I'm flabbergasted at the amount of power they wield, and horribly appalled at the unaccountability of that power! And all these dollars that they give away (or loan, or use to purchase securities), are all printed from nothing, backed by nothing, and ultimately are worth nothing. And one day that's what they will be worth, if they are never backed by a commodity, market money (such as gold, but not limited to just gold in theory).

Audit the Fed, then End it!

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