What is Digg?606 Comments
- stonewaljacksn, on 10/23/2007, -24/+271This will never go anywhere, but you have no idea how happy I am to see this. Taking this action may hurt us in the short term, but it is the ONLY way to save our society. ***** all this ***** about same sex marriage and abortion and the electoral college's downsides and *****, THIS is the #1 problem we face.
- Demolama, on 10/23/2007, -20/+226Those who disagree with his ideas have got to admit he is walking the walk rather than just talking the talk.
- DustinR, on 10/11/2007, -26/+166We are already on the petrodollar, this is where we get the axis of evil from. In the 70s we made a deal with Opec so they can only sell oil in $$$. So how do you get dollars? you sell stuff to America. The Axis of evil started because Iraq, Iran and North Korea started selling and buying oil in Euros.
- elitedw, on 10/11/2007, -13/+145the guy is a 100 times smarter than our current president. Ron Paul is actually thinking of the future of this country.
- Cutkomp, on 10/11/2007, -25/+155So? I didn't call a well-respected, 10-term Congressman an idiot and I have never claimed to be the smartest cat in the world. Go do a historical check on what every single president who has went 6-feet-under during their term had in common besides being white guys. Then check the guys that had attempts on their life, same connection. What RP is doing takes balls. Would you march into battle knowing everyone before you that has tried hasn't made it.
- Cutkomp, on 10/11/2007, -27/+141Well, he's running for president and sittin' in Congress on the Financial Services committee that the bill got referred to while you're sittin' on Digg calling him an idiot. What's that make you? I think you had better plead the 5th on that one.
- inactive, on 10/11/2007, -19/+130"Government," said Ludwig von Mises, "is the only agency that you can take a useful commodity like paper, slap some ink on it and make it totally worthless."
"Gold, Peace and Prosperity -- The Birth of a New Currency" by Congressman Ron Paul. - inactive, on 10/11/2007, -18/+123"More citizens are realizing that Congress and the Federal Reserve have generated a flood of paper money with no intrinsic value."
Ron Paul, "Gold, Peace and Prosperity -- The Birth of a New Currency," Page 16 - Fordi, on 10/11/2007, -10/+100I've seen a lot of arguments for the support of Ron Paul, but this one convinces me.
Ron Paul for nomination in 2008. Let him and Obama duke it out.
Meanwhile, if he gets this anywhere *near* passing, I can bet he'll be assassinated within a week. - kjk437, on 10/11/2007, -3/+92@cdnyny
Notice that Ron Paul introduces these types of bills regardless of whether he's running for President or not. He's not doing this at this particular moment for publicity. He does it because he believes it's right. - satanatnmtedu, on 10/23/2007, -48/+126And, are we going back to the gold standard? Maybe the crude oil standard would be better.
- Pile, on 10/11/2007, -20/+96"We are already on the petrodollar, this is where we get the axis of evil from. In the 70s we made a deal with Opec so they can only sell oil in $$$. So how do you get dollars? you sell stuff to America. The Axis of evil started because Iraq, Iran and North Korea started selling and buying oil in Euros."
-- DustinR is dead on the money here...
People don't realize this is the real reason we invaded Iraq. It has more to do with controlling the proliferation of the Euro than oil. The E.U. is positioned to be the most powerful economic force on the planet, and the U.S. could be left out of the world market with the dollar becoming worthless. - xspinkickx, on 10/23/2007, -16/+91the federal reserve has been ripping the american people off for so long....
- knomevol, on 10/11/2007, -16/+90Further proof he -knows- why your sons are dying in Iraq.
- expert01, on 10/11/2007, -6/+80Criticism of Federal Reserve System: http://en.wikipedia.org/wiki/Federal_Reserve_System#Criticisms
Apparently this system was created in 1913, and was written by Nelson Aldrich along with the representatives of the three largest banks at that time.
Also: He introduced this bill in 2003, and it didn't get anywhere. - NoTiG, on 10/11/2007, -5/+72"Few Americans give much thought to the Federal Reserve System or monetary policy in general. But even as they strive to earn a living, and hopefully save or invest for the future, Congress and the Federal Reserve Bank are working insidiously against them. Day by day, every dollar you have is being devalued."
article from Ron pauls archive at lew rockwell: http://www.lewrockwell.com/paul/paul380.html
Here are some other links worth educating yourself:
Money masters: http://video.google.com/videoplay?docid=-515319560256183936&q=money+masters&total=956&start=0&num=10&so=0&type=search&plindex=0
Secrets of the Federal reserve:
http://www.apfn.org/apfn/reserve.htm
How economic slavery works:
http://ubuntuforums.org/showthread.php?t=467807 - Pile, on 10/11/2007, -14/+79Notice there are two kind of people responding here...
1. Those that understand the current economic system
2. Those that call Ron Paul an idiot and have no idea what he's talking about so they attack the messenger and ignore the message.
Look at the critics of this bill. They either call Ron Paul an idiot (without any substantiation) or spread FUD about the economy tanking if the Federal Reserve was abolished. In both cases, they don't know what they're talking about, but what else is new? - pogfreak, on 10/11/2007, -12/+76Crude oil would be a poor choice to back a currency because it is constantly being spent (i.e. consumed) where as gold is generally kept in gold ingots and not used.
- kylebrothert, on 10/11/2007, -11/+74cutkomp said:
"... I think you had better plead the 5th on that one."
Do we still have a fifth amendment? Or was that repealed in the Patriot Act? - crazybugger, on 10/11/2007, -7/+67The Federal Reserve and the IRS is not a govt entity. Its a private organization whos shares are not traded in public.
Ron Paul has some serious balls. If he manages to pull this thing off, he will literally change the way the world functions. - greves, on 10/11/2007, -16/+71Cyre: would you care to explain why he's an idiot for attempting to dismantle the roots of the corporate-fascist system in spite of the above facts ( http://trosch.org/law/fed-paper-money.html , yes the website is crap but the facts are fine, look them up elsewhere. It was just a nice summary I found on Google) makes Ron Paul an idiot?
- jcarrion1976, on 10/11/2007, -12/+67Dugg the article because of my economic education.
Dugg you down because your lack of economic education. The economic failings of John Maynard Keynes theories are evident world wide. I suggest you stop drinking the Econ 101 kool-aid being spoon fed to you in screwl. - Corrosionx, on 10/11/2007, -7/+61Doesn't mean it isn't right. It just means Ron Paul is the only one with the balls to support it.
- hansblix, on 10/11/2007, -3/+57Congress was given the power to print money, not a private central bank.
Here is a video that gives a history of the Fed. Long, but you'll get the idea in the first hour.
http://video.google.com/videoplay?docid=7757684583209015812&q=history+of+the+federal+reserve&total=108&start=0&num=10&so=0&type=search&plindex=0 - Fieri, on 10/11/2007, -10/+64Right ***** on! The Federal Reserve is the muzzle on the American economy. Ron Paul '08!
- obliviousfool, on 10/11/2007, -10/+61I was kinda riding the fence on Ron Paul, but this makes me love the guy! The Fed is flawed and it has caused drastic changes in American history. I just hope this viewpoint doesn't get him killed!
- BESTenemy, on 10/11/2007, -9/+59@cutkomp
If Ron Paul gets elected, he'll be riding back seat of a limo, JFK-style.
Kennedy signed executive order 11-1-10 (silver currency standard declaration). Dismissed the FED. Few months later bang! And the next guy in office undoes everything within his first month in the office, before FED clerks are done packing.
I already said it once - I'd rather have RP alive and well as a congressman, than see him dead as a president. - inactive, on 10/23/2007, -1/+47I'm not so sure that most people understand the significance of the Federal Reserve. If he announces a plan to abolish the IRS, that is something everyone can understand. As it is, some people might get a negative view of Ron Paul for this stance on the Federal Reserve. I would like to see Ron Paul decide to sponsor or co-sponsor Mike Gravel's plan to outlaw the war in Iraq.
- BESTenemy, on 10/11/2007, -4/+50Crude Oil standard? That's what we're on right now, thanks to OPEC. If dollar wasn't the only official OPEC currency, other coutnries wouldn't be holding such vast USD reserves. If all the oil consumers were to flush their USD reserves, picking something else, Euro for instance, we'd go bankrupt, or go into default like in early 70's.
- KungFuJesus, on 10/23/2007, -2/+45you should watch "america: freedom to fascism"
your opinion on the federal reserve will be totally changed - nestafett, on 10/11/2007, -5/+47Did I get dugg down earlier for asking a question so I could understand the issue better?
wow, so what is the point of the comment section then?
thanks for your help diggers, really making a difference, changing some minds, not at all wasting the potential of something that is historically revolutionary - FatHed, on 10/11/2007, -5/+43The federal reserve is unconstitutional, the constitution grants the right to coin money and set the value to both the house and the senate. That cannot be changed without an amendment to the constitution. A law cannot alter the rights of the house and the senate, it can't make them lose the right to a secret suborganization of congress. The other reason that congress has this right is because then they must debate these things on a public floor, so we could know what the hell was going on.
- Corrosionx, on 10/11/2007, -3/+39"where Lois is running for gov't and everyone starts cheering when ever she says "9/11""
Yeah, the only difference is this is the tactic used by all the other candidates (except Paul, Kucinich and Gravel). - ytcracker, on 10/11/2007, -5/+40i joined ron paul's campaign and have donated to his efforts. i love how he is a libertarian in republican clothing, and his voting record is incredibly impressive. he truly isn't a typical capitol hill windbag.
- alvinrod, on 10/11/2007, -1/+36Perhaps this will draw attention to the Federal Reserve and cause at least some Americans to educate themselves on the matter.
- quakerorts, on 10/11/2007, -4/+38Please contact your Congressional reps and Senators and ask them to cosponsor and support this bill. It's so easy to do on their websites. And quote Thomas Jefferson to them:
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802) - knomevol, on 10/11/2007, -11/+45you need to go beyond your economics class and learn some history.
go and study some other countries whose currencies are not backed by central banks - they are doing just fine, and their citizens are not slaves their whole lives paying interest for every dollar (or whatever the name of their currency) in their wallet.
you like being a slave? go for it, but take it someplace else (if they'll have you) - nestafett, on 10/11/2007, -13/+44I dont know alot about this, If we went to the gold standard would we have to devalue what gold is out there to match the money we already have printed, or visa versa?
- Grouser, on 10/11/2007, -6/+37This bill should pick up momentum after the stock market crashes.
- inactive, on 10/11/2007, -18/+47Yeah, well a brick is 100 times as smart as bush though....
- obliviousfool, on 10/11/2007, -10/+38Okay let's not read into this things that aren't there. We're talking about abolishing the fed. Presumably we would replace it with something else to control the money supply. Something transparent and public. FWIW, Milton Friedman has suggesting using a computer! This talk of returning to the gold standard, aside from being unworkable and a really bad idea, has nothing to do with abolishing the fed. Please don't try to confuse things!
- Fieri, on 10/11/2007, -8/+35Yes, hilarious how hundreds of Americans are dying every month to stuff the pockets of private bankers who run the Federal Reserve fraud and pretend that Americans are required to pay income tax. You, my friend, are the joke, and the hundreds of millions of zombies like you who vote for Republicans and Democrats believing that will change the country.
- pirothezero, on 10/11/2007, -6/+33You want to back that up with actual substance and not just make some hollow statement?
- BuffalOBisoN, on 10/11/2007, -12/+38Ron Paul WILL BE the 44th President of the United States. The Anti-Federalists are back beeatch!
- Marc39, on 10/11/2007, -19/+45Uh, I consider a politician who have been elected 10 or more times a career politician. So the saying "Kick 'em all out!" goes for him too.
- BuffalOBisoN, on 10/11/2007, -6/+32@pogfreak: Say what? Since Dr. Paul is the most fiscally conservative member of Congress I am a bit confused by your statement. Please explain.
- strafefire, on 10/11/2007, -3/+29We would go into a HUGE recession, since the American dollar is an instrument of debt.
However, by going back to the gold standard, the American dollar would be worth a HELLAVU lot more and would become the world wide currency of choice (the currency of choice for the world markets, especially during a recession is the swiss franc, since it is the ONLY world currency still on the gold standard).
American buying power would increase, thereby lowering the cost FOR US to import goods to the USA -- including oil.
Instead of shorting the dollar, or dumping it en masse like more and more countries are doing, they would be buying it up in gobs.
The BAD:
Banks would have a harder time lending out money because now they would be required to have more money on hand for transactions because the FED back would be no more.
Credit companies would be severely hurt.
Banks would force foreclosures on anyone deemed a partial risk.
Huge recession.
American would be forced to become savers again vice borrowers.
Interest rates would go very high like Japan and Switzerland --> forcing us to become savers even more.
One thing to remember is that markets always go in cycles, and for every recession, there will always be a powerful bull market cycle. - ApolloXLII, on 10/11/2007, -2/+27@alvinrod
i think it's working... at least here on digg... which we need more of (ideas and comments backed by logical statements and proven facts). now lets see if we can jump-start it and carry it beyond digg.
*calling my sister who has a P.H.D. in Economics in regards to abolishing the Federal Reserve.*
her response- "Hmmm... well, we'd be hurting for a short period of time, but in the long run, i could see it benefiting us greatly."
*calling a friend of mine who dropped out of college*
his response- "Dude, it's the Federal Reserve. Thats important, right? Wait, isn't Ron Paul that Republican guy? Dude, he's gay."
i rest my case. - jcarrion1976, on 10/23/2007, -2/+26The expansion and contraction of the economy is a manipulation of the money supply by the central banks. (Federal Reserve)
When you expand the money supply (ie lower interest rates) the market gets flooded with easy money and people will increase their debt load. This is exactly what the central banks want. (this is what is going on today)
Your would think that getting interest in monies created out of thin air is the true motive behind the central banks, but it is not. The true desire is to contract the money supply after it has been expanded. This contraction has the benefit of making it very difficult to pay off your debts causing you to eventually default on your loan. (depression)
The very reason for the expansion and subsiquent contraction of the money supply is to take wealth away from the people by default and move it into the hands of the elite bankers.
Learn more about the money system by watching "The Money Masters"
http://video.google.com/videoplay?docid=-515319560256183936&q=money+masters&total=956&start=0&num=10&so=0&type=search&plindex=0
By the way, the Federal Reserve Act of 1913 was passed in the senate by 3 senators after the senate had been adjourned. By only three men. Think about that fact. - TLG4Freedom, on 10/11/2007, -1/+25What he's saying is that every penny goes from Your pocket >> IRS >> FederalReserve (for interest payment)
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