govtrack.us— H.R. 2755 - To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
Jun 17, 2007View in Crawl 4
The major flaw with this Keynesian perspective is that historically prices have consistently fallen in the absence of a central bank. There is also the matter of the severity and length of recessions that has been much greater since the creation of the Fed. I'm not going to spend the time to write out the whole argument as you have, but once again I will suggest you and any one else the slightest bit curious about a counter argument to the mainstream view, which has various historical inconsistencies, take a look a mises.org. It has a great deal of information about Austrian economics and you can not possibly fully understand Ron Paul's position without and understanding of this school of economics. Comment is buried, click here to see the rest.
@mellowchimp:Well, when gold is the basis of money, no ;) What our friend here is doing is comparing the ratio between gold and fiat currency ... by using gold as the constant for that comparison. So in that sense, gold is consistent and the value of the dollar is going down... but if you were to use the dollar as the constant for that comparison, that would mean gold prices are going up! So in essence what he's doing by saying the price of gold is consistent is to a large extent, circular logic. You could apply that for any commodity, it's just that gold is used because it's market value is considered to be more or less consistent. If we used the earliest IBM's developed in the late 80's, then well we'd get very strange numbers, hehe.
It is true that the Australian Economy has been doing well, the only problem is the mainstream economic view says it should be. Here is a article about one aspect of Australia's current success from scholars that are part of the Austrian School of economics, the School that Ron Paul believes in. <a class="user" href="http://blog.mises.org/archives/006725.asp">http://blog.mises.org/archives/006725.asp</a>
Well, if gold is worth, let's say, $500 per ounce, then a $1 gold coin would contain 1/500 ounces of gold. It doesn't matter how much currency you currently have. When you look at the current price of gold, it's not that the value of gold is going up, it's that the value of our dollar is going down.
To all those that say or think: This is great, but it will never pass.Go here: <a class="user" href="http://www.house.gov/writerep/">http://www.house.gov/writerep/</a>Fill out the wiretap permission information truthfully. It's saving your taxdollars, right?Send a message to your representative. It has to be at least this long: Please support HR 2775.That's it. Three words and a number. It took me longer to WRITE THIS than it took me to do it.
ummm..."Twice a day, the London gold pool sets the price of gold based upon basic economics of supply and demand. The world then uses these prices to determine the price of bullion and gold related products."
"People don't realize this is the real reason we invaded Iraq."No. If we were only after the oil, then we could have simply occupied the oil fields, built a fence around them, and left the rest of Iraq to figure out what to do with Saddam themselves.-jcr
It's also worth noting that the first government greenbacks had the phrase "will pay to the bearer in lawful money on demand". The notes were promises to pay gold or silver.-jcr
No longer the case, I'm afraid. The Fed buys T-bills, and is allowed to lend against the value of those bills. The upshot is that the public pays interest to banks for the money they create.-jcr
Here's what to do:Go to <a class="user" href="https://forms.house.gov/wyr/welcome.shtml">https://forms.house.gov/wyr/welcome.shtml</a>to find your representative in congress. Then, email them something like this:Congressman [Your Congressman's Last Name here], I'm writing this [morning, afternoon, evening] to inquire about your position on H.R. 2755: Federal Reserve Board Abolition Act. Thomas Jefferson said it best when he said: "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." Any economy built on debt and fiat currency is destined to fail as history has shown us. Our current system is unsustainable. I feel with certainty that the sub-prime mortgage crisis, the free-falling value of my savings and the soaring cost of oil are merely a harbinger of what is to follow if we don't recognize that the Federal Reserve isn't the answer but is, in fact, the problem. Like any parent, I hope to leave my daughter an inheritance so that she may be secure in her life and seek to improve it. If we continue to do nothing about the banking interests at the Federal Reserve destroying our savings and our economy it may be that she's only left with an utterly unrepayable and dream-smothering mountain of debt.Value must be restored to our currency. The Federal Reserve must be abolished.Most sincerely,-[You're freedom-loving, ass-kicking self]Do it bay-BEE, just do it! No one can stop you ;)
Well I hope you understand that he doesn't mean using gold coins for money. He's talking about making every dollar worth a set amount of gold. Eliminating inflation and devaluation, because that dollar will always be worth that amount of gold. A competing currency would work best instead of suddendly replacing our dollar. We could have fed money and gold money, you'd choose which you'd like.
in the constitution 1st amendment art#1 sec.#8 is writ in as congress shall have the right to create ,coin, and control the value of the U.S.dollar thereof for the country and the people but in 1913,DEC 22ND president Woodrow Wilson passed into law with the vote of the congress the federal reserve act and gave the right to Private bankers.now is the time to have h.r.2755 Ron Paul's bill pass through congress the senate and the President.Congress can then account for all monies needed to run this great country with the senate,govt take back control of the treasury and print dollars amply as needed. No national debt no interest to pay to the fed reserve,no fed taxes, money will then be created free of no bankers just accountants needed for circulation to banks and people of the U.S.
12 02 2008 today I had went to congress women Carol Shea-porter N.H. my request for support on Ron Paul rep TX. his bill H.R.2755 presented to congress & senate.
we don't need the FED to loan us money. the constitution gives Congress the authority to do so, and it is our best interests as a nation to let them do it. by borrowing all of our money, at interest, from the federal reserve (a bank) we are putting ourselves in debt from the beginning. if we coined our own money (as the founders intended), there would be far less debt.
plutorobotJun 18, 2007
The major flaw with this Keynesian perspective is that historically prices have consistently fallen in the absence of a central bank. There is also the matter of the severity and length of recessions that has been much greater since the creation of the Fed. I'm not going to spend the time to write out the whole argument as you have, but once again I will suggest you and any one else the slightest bit curious about a counter argument to the mainstream view, which has various historical inconsistencies, take a look a mises.org. It has a great deal of information about Austrian economics and you can not possibly fully understand Ron Paul's position without and understanding of this school of economics. Comment is buried, click here to see the rest.
lordcarboJun 20, 2007
@mellowchimp:Well, when gold is the basis of money, no ;) What our friend here is doing is comparing the ratio between gold and fiat currency ... by using gold as the constant for that comparison. So in that sense, gold is consistent and the value of the dollar is going down... but if you were to use the dollar as the constant for that comparison, that would mean gold prices are going up! So in essence what he's doing by saying the price of gold is consistent is to a large extent, circular logic. You could apply that for any commodity, it's just that gold is used because it's market value is considered to be more or less consistent. If we used the earliest IBM's developed in the late 80's, then well we'd get very strange numbers, hehe.
misconstruedJun 21, 2007
DIGG THIS: <a class="user" href="http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF">http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF</a>It's been buried as Spam by anti-Ron Paul people. 737 Diggs so far and it's never made the main page! Let's get it to 1,000. KEEP DIGGING!DIGG THIS: <a class="user" href="http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF">http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF</a>Ron Paul was banned by the Iowans for Tax Relief forum! ALL OTHER CANDIDATES WERE INVITED! The forum is run by one of McCain's campaign guys in Iowa!DIGG THIS: <a class="user" href="http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF">http://www.digg.com/2008_us_elections/The_Ron_Paul_Censorship_Continues_Excluded_by_Iowans_for_Tax_Relief_WTF</a>
frankencJun 25, 2007
Wow, it's a bill I can understand. It could fit on 1 letter sized piece of paper!
plutorobotJun 27, 2007
It is true that the Australian Economy has been doing well, the only problem is the mainstream economic view says it should be. Here is a article about one aspect of Australia's current success from scholars that are part of the Austrian School of economics, the School that Ron Paul believes in. <a class="user" href="http://blog.mises.org/archives/006725.asp">http://blog.mises.org/archives/006725.asp</a>
esfisherJun 29, 2007
Well, if gold is worth, let's say, $500 per ounce, then a $1 gold coin would contain 1/500 ounces of gold. It doesn't matter how much currency you currently have. When you look at the current price of gold, it's not that the value of gold is going up, it's that the value of our dollar is going down.
esfisherJun 29, 2007
Right, but if bandwidth doubled, the value of your currency would be cut in half.
garthwaitedJul 1, 2007
To all those that say or think: This is great, but it will never pass.Go here: <a class="user" href="http://www.house.gov/writerep/">http://www.house.gov/writerep/</a>Fill out the wiretap permission information truthfully. It's saving your taxdollars, right?Send a message to your representative. It has to be at least this long: Please support HR 2775.That's it. Three words and a number. It took me longer to WRITE THIS than it took me to do it.
calc1000Jul 1, 2007
Is it just me, or are 99% of the anti-Paul comments nothing but ad hominem and/or based on a lack of knowledge of what's being discussed? No offense.
arjungAug 22, 2007
ummm..."Twice a day, the London gold pool sets the price of gold based upon basic economics of supply and demand. The world then uses these prices to determine the price of bullion and gold related products."
nsresponderDec 23, 2007
Well, he might be on a good track, though. Arthur C. Clarke had the idea many years ago of a currency backed by kilowatt-hours.-jcr
nsresponderDec 23, 2007
"People don't realize this is the real reason we invaded Iraq."No. If we were only after the oil, then we could have simply occupied the oil fields, built a fence around them, and left the rest of Iraq to figure out what to do with Saddam themselves.-jcr
nsresponderDec 23, 2007
The Federal Reserve is private, the IRS is not. Do a bit more studying.-jcr
nsresponderDec 23, 2007
It's also worth noting that the first government greenbacks had the phrase "will pay to the bearer in lawful money on demand". The notes were promises to pay gold or silver.-jcr
nsresponderDec 23, 2007
No longer the case, I'm afraid. The Fed buys T-bills, and is allowed to lend against the value of those bills. The upshot is that the public pays interest to banks for the money they create.-jcr
silverseeker123Feb 15, 2008
You couldn't be more brainwashed and more wrong. Please do some research to find out why!
wulfgangMar 26, 2008
Here's what to do:Go to <a class="user" href="https://forms.house.gov/wyr/welcome.shtml">https://forms.house.gov/wyr/welcome.shtml</a>to find your representative in congress. Then, email them something like this:Congressman [Your Congressman's Last Name here], I'm writing this [morning, afternoon, evening] to inquire about your position on H.R. 2755: Federal Reserve Board Abolition Act. Thomas Jefferson said it best when he said: "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." Any economy built on debt and fiat currency is destined to fail as history has shown us. Our current system is unsustainable. I feel with certainty that the sub-prime mortgage crisis, the free-falling value of my savings and the soaring cost of oil are merely a harbinger of what is to follow if we don't recognize that the Federal Reserve isn't the answer but is, in fact, the problem. Like any parent, I hope to leave my daughter an inheritance so that she may be secure in her life and seek to improve it. If we continue to do nothing about the banking interests at the Federal Reserve destroying our savings and our economy it may be that she's only left with an utterly unrepayable and dream-smothering mountain of debt.Value must be restored to our currency. The Federal Reserve must be abolished.Most sincerely,-[You're freedom-loving, ass-kicking self]Do it bay-BEE, just do it! No one can stop you ;)
fullapertureMar 28, 2008
Well I hope you understand that he doesn't mean using gold coins for money. He's talking about making every dollar worth a set amount of gold. Eliminating inflation and devaluation, because that dollar will always be worth that amount of gold. A competing currency would work best instead of suddendly replacing our dollar. We could have fed money and gold money, you'd choose which you'd like.
wtfamericaSep 29, 2008
Truly a great video, thanks for posting.
dinkNov 14, 2008
There is a rally on November 22nd to do abolish the fed. In the mean time, be sure to get you Abolish the Fed Shirt: <a class="user" href="http://store.ninaground.com/apparel/shirts/abolish-the-fed.html">http://store.ninaground.com/apparel/shirts/abolish ...</a>
dlandry2002Dec 2, 2008
in the constitution 1st amendment art#1 sec.#8 is writ in as congress shall have the right to create ,coin, and control the value of the U.S.dollar thereof for the country and the people but in 1913,DEC 22ND president Woodrow Wilson passed into law with the vote of the congress the federal reserve act and gave the right to Private bankers.now is the time to have h.r.2755 Ron Paul's bill pass through congress the senate and the President.Congress can then account for all monies needed to run this great country with the senate,govt take back control of the treasury and print dollars amply as needed. No national debt no interest to pay to the fed reserve,no fed taxes, money will then be created free of no bankers just accountants needed for circulation to banks and people of the U.S.
dlandry2002Dec 2, 2008
12 02 2008 today I had went to congress women Carol Shea-porter N.H. my request for support on Ron Paul rep TX. his bill H.R.2755 presented to congress & senate.
ronpaul2008laDec 25, 2008
Support this legislation by helping to collect petition signatures. Please visit <a class="user" href="http://www.EndTheFed.US/repeal.php">http://www.EndTheFed.US/repeal.php</a>
sunsmudgeApr 14, 2009
we don't need the FED to loan us money. the constitution gives Congress the authority to do so, and it is our best interests as a nation to let them do it. by borrowing all of our money, at interest, from the federal reserve (a bank) we are putting ourselves in debt from the beginning. if we coined our own money (as the founders intended), there would be far less debt.