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Fed Independence or Fed Secrecy?
Ron Paul
Campaign For Liberty
Tuesday, July 14, 2009
Last week I was very pleased that hearings were held on the independence of the Federal Reserve system. My bill HR 1207, known as the Federal Reserve Transparency Act, was discussed at length, as well as the general question of whether or not the Federal Reserve should continue to operate independently.
The public is demanding transparency in government like never before. A majority of the House has cosponsored HR 1207. Yet, Senator Jim DeMint’s heroic efforts to attach it to another piece of legislation elicited intense opposition by the Senate leadership.
The hearings on Capitol Hill provided us with a great deal of information about the types of arguments that will be levied against meaningful transparency and how the secretive central bankers will defend the status quo that is so beneficial to them.
Claims are made that auditing the Fed would compromise its independence. However, by independence, they really mean secrecy. The Fed clearly cherishes its vast power to create and spend trillions of dollars, diluting the value of every other dollar in circulation, making deals with other central banks, and bailing out cronies, all to the detriment of the taxpayer, and to the enrichment of themselves. I am happy to challenge this type of “independence”.
They claim the Fed is endowed with special intellectual abilities with which to control the market and that central bankers magically know what the market needs. We should just trust them. This is patently ridiculous. The market is a complex and intricate thing. No one knows what the market needs other than the market itself. It sends signals, such as prices, that should be reacted to and respected, not thwarted and controlled. Bankers are not all-knowing and cannot ignore the rules of supply and demand. They might act as if they are, but their manipulation of the market just ends up throwing it wildly off balance, which gives us the boom and bust cycles.
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They claim the Fed must remain apolitical. No organization is apolitical that relies on the President to appoint the Chairman. In fact, it is subject to the worst sort of politics — power to create trillions of dollars and affect the value of every dollar in the country without the accountability of direct elections or meaningful oversight! The Fed typically enacts monetary policy that is favorable to particular administrations close to elections, to the detriment of long term considerations. They do this partly because of the political appointee process for the Chairmanship.
The only accountability the Federal Reserve has is ultimately to Congress, which granted its charter and can revoke it at any time. It is Congress’s constitutional duty to protect the value of the money, and they have abdicated this responsibility for far too long. This was the issue that got me involved in politics 35 years ago. It is very encouraging to finally see the issue getting some needed exposure and traction. It is regrettable that it took a crisis of this magnitude to get a serious debate on this issue.
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47 Responses to “Fed Independence or Fed Secrecy?”
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July 14th, 2009 at 5:10 am
My mom always told me a secret is a lie and she was right. The truth shines bright but a secret is hidden and the Fed Reserve is a big secret/lie. But hey the government is made up of lies. When did it become ok to lie? It should be against the law but it is not so they can protect their secrets. Make a no lie policy and maybe we will believe them or at least prosecute and overturn anything based on lies. Which is all their decisions from the first world war on. Well when the money runs dry perhaps the truth will flow.
CAPTAIN AMERUCA Reply:
July 14th, 2009 at 6:14 am
I totally agree with you kebcreation, my mother to to be truthfull! I’VE seen her suffer because she was truthfull. IN the early 90’s she had a heart attack, she tried to get some assitance, from our so called gov.BUT was turned down, i remenber her crying after she got off the phone could not understand by telling the truth would hurt her.if she would have lied she would have gotten it! THEY(gov.) want you to lie, she said, what are they teaching the young people of our country,to be lier’s!THE truth is as i look back our so called rep’s lie to us every election.OBAMA, SAID,NANCY(house speaker) they both said, they would stop the war of lie’s, obama has not stopped (WIRE TAPPING&PATRIOT ACT). OUR SUPPREAM COURT , in one of there rulling’s before our election said it was alright to lie(our so called rep’s).WHAT are they teaching our young! I guess so they(gov.) are able to lie that (we the people) accept it without questioning what they are saying. EVERWHERE we turn nothing but lie’s cheating is alright! WE ARE IN A MIST OF LIE’S! WE THE PEOPLE must demand the truth inour kid;s , bottom line to stop our so called gov, stop lying to us. TOGETHER WE MUST START DEMANDING THE TRUTH, TO SET US FREE, MOST OF ALL TO KEEP US FREE. AND, THAT’S THE TRUTH!!!!!!!!!!!!!!!!!
mars Reply:
July 14th, 2009 at 7:06 am
And Satan is thegreatest liar of all
Joe Reply:
July 14th, 2009 at 1:36 pm
No that would be religion. Satan, in fact comes from one such religion. A convinent scape goat built into the religion itself. Watch out for the great liar. He will dispute our “truths”.
The Truth is Revealing itself Reply:
July 14th, 2009 at 9:03 am
Our Gun Rights are being taken away as more congressmen are bought off. They will try to force H1N1 Sine Flu vaccinations probably before year’s end. We are now headed straight down the barrel of a gun towards some sort of armed conflict. Stay informed with the latest information, newsclips and wake people up ASAP at http://www.thegrandawakening.com/
July 14th, 2009 at 5:49 am
Quoting Dr. Paul in the article:
“The public is demanding transparency in government like never before. A majority of the House has cosponsored HR 1207. Yet, Senator Jim DeMint’s heroic efforts to attach it to another piece of legislation elicited intense opposition by the Senate leadership.”
Why would the Senate leadership oppose this legislation? Because they are bought and paid for by the banksters. Until that FACT changes there will be no transparency involving the Federal Reserve (neither Federal nor a Reserve but in fact a private, for-profit corporation held mainly by foreign interests).
How do WE the people fight such a thing? Start by starving it. Go to http://www.losthorizons.com, get the book “Cracking the Code” and do what the book lays out to change how much you feed this corrupt system. Also, vote these corrupt Senators out of office and replace them with honest men and women. This will not be easy. Cracking the Code, however, is something all of us CAN easily do now. DO IT!
Madman Reply:
July 14th, 2009 at 11:42 am
I still say starving it takes too long, you don’t starve a deer, you shoot it in the vitals.
Dilbert McGunnut Reply:
July 14th, 2009 at 11:45 am
I say START by starving it and keeping more of your hard earned money, hence Cracking the Code. If you don’t read the book you won’t understand what I’m talking about. Basically you can get all the money that was withheld for taxes, including social security and medicaid, back every year.
July 14th, 2009 at 5:52 am
Have you been to Ron Paul’s website lately? He has his speech against the new tobacco legislation there. The new drug war is nigh!
July 14th, 2009 at 6:05 am
another picture of the big coke head
July 14th, 2009 at 6:05 am
ben b
July 14th, 2009 at 6:06 am
Recipe of the Week
NEW WORLD ORDER STEW
Combine following items
1 bunch Bilderberg
1 bunch United Nations
1 each American President (puppet)
1 bunch Corrupt Politicians from several nations
1 bunch Warmongering Military (American)
5 billion Sheep
1 pinch(each of the following) Mercury, chemtrails, vaccinations, lead,
pesticides,
GMO’s, (makes the rest easier to swallow)
Let all ingredients simmer for 50 years or so, then quickly shove down throat of populace
Brought to you by: GES
July 14th, 2009 at 6:40 am
i agree with you, but what i don’t agree with someone is deleting with my comment’s more often, why it’s about truth i write what they don’t want you to know . in that you are coward’s of truth! i hope this make’s it, quit deletting my comment’s i don’t swear, why is reoconmarine ccomment’s alway’s make’s it. i wish i could see you face to face who stopping my freedom of speach stop it!
CAPTAIN AMERICA Reply:
July 14th, 2009 at 6:48 am
wow it made it thank-you
July 14th, 2009 at 6:47 am
To quote a B.S. police state talking point that is the fast track to lose our freedoms…..
“If you have nothing to hide, then you have nothing to worry about.”
TruthbeTold Reply:
July 14th, 2009 at 9:13 am
Yes I agree take that to the table for them…transparency or treason your choice.
TruthbeTold Reply:
July 14th, 2009 at 9:14 am
that reply was to poopoo sry…LOL
July 14th, 2009 at 6:53 am
Tell the fuckers they have two choices, transparency or death! lol
Madman Reply:
July 14th, 2009 at 11:43 am
I can already see through their lies… that’s transparent enough for me.
So now, we are down to the second choice, which I hope we get to give to them, for treason and tyranny, and GRAND THEFT.
July 14th, 2009 at 7:03 am
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July 14th, 2009 at 7:06 am
Exposing the fed may lead to exposing corrupt congress members also. Could be why they don’t want transparency.
truth911 Reply:
July 14th, 2009 at 9:25 am
are government are loving, caring, respectable , wonderfully wonderful , people. kind generous, just loving while the economy our country and everything else collapse around them[us] usa
July 14th, 2009 at 7:12 am
http://news.bbc.co.uk/1/hi/business/8149762.stm
Meanwhile Goldman Sachs post “bumper profits.”
July 14th, 2009 at 7:31 am
Intellectual secrecy doesn’t mean what they don’t tell you makes them smarter; it only makes
them liars. Their secrets are they are broke, and they expect you to get them out of hawk.
They use our credit to pay for campaign funds; foreign and domestic. They use our credit
to lobby foreign and domestic legislation. They use our credit to create false flag attacks.
They finance the drug trade, and the drug war. They finance wars to create a market for
Weapons Of Mass Destruction. They Finance Eugenic Programs so we can pay them to kill us.
biggyj Reply:
July 14th, 2009 at 9:54 am
Jesus is the only credit people need and you need to give to Caesar what is Caesar’s, give to God what is God’s. Giving to China isn’t in that equation, IS IT? GOD doesn’t want this war, GOD doesn’t want Eugenics, he is the ultimate Eugencis, he knows who shall live and who shall die
July 14th, 2009 at 7:39 am
When the world finds out that Americans can’t pay for the Fed’s fictitious debt.
Americans will need their food reserves, guns and ammo, to fend off a RED DAWN attack.
July 14th, 2009 at 7:58 am
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July 14th, 2009 at 8:07 am
Independence Day and Other Myths:
http://www.victoriaadvocate.co.....809_57309/
July 14th, 2009 at 8:20 am
Everyone wants the ass of the American citizen including their own government.
Face it brothers and sisters we are on our own.
ben bernanke's gold stash Reply:
July 14th, 2009 at 12:25 pm
Well, there are 250,000,000 of you. Why not organise a march on D.C. to remind them who is boss?
July 14th, 2009 at 8:29 am
This bill will NOT pass. Too many corrupt politicians are apart of the NWO. Ron Paul is wasting his breathe.
Jim Lunsford Reply:
July 14th, 2009 at 9:32 am
It is never a waste of breath to make a stand for liberty.
biggyj Reply:
July 14th, 2009 at 9:51 am
this bill is a test from God
GOD is the only independent entity, he does so by being open, not secret, GOD is only secret to those who have a closed heart and our federal government needs to change their minds through becoming open
I want to know exactly what the government is doing in DC but I know that only Jesus can take me there and see it once and for all and that is the true secret
Madman Reply:
July 14th, 2009 at 11:46 am
It won’t pass, but that doesn’t mean it shouldn’t be presented.
Liken this to a sweet puppy, being pushed into the corner, and barking it’s head off. Sooner or later, that sweet puppy, if backed into the corner, and no one will head it’s warning, it will bare it’s teeth and bite for the jugular.
July 14th, 2009 at 8:41 am
** SHE IS TAP DANCING**
Hope everybody is watching the Judge sotomayor confirmation..7/14/09.. Orin Hatch is grilling her on her option regarding our 2nd Amendment rights…and SHE IS TAP DANCING all over the road.. If they confirm her and we know the names of those who voted for her….regardless of their alleged party affiliation…. They can pack up their desk and hit the road
July 14th, 2009 at 9:16 am
neither fed criminals
July 14th, 2009 at 9:47 am
“We the people” must step away from the corrupt roulette wheel (Corp/Govt)
just as the Indians were handed whiskey (credit) as they slaughtered the buffalo
(jobs) and waited for them to show up starving to the reservations (FEMA camps).
July 14th, 2009 at 9:51 am
“We the people” must step away from the corrupt roulette wheel (Corp/Govt)
just as the Indians were handed whiskey (credit)as they slaughtered the buffalo
(jobs) and waited for them to show up starving to the reservations (FEMA camps).
July 14th, 2009 at 10:33 am
The so-called “independence” of the Fed is merely a euphemism for the UNACCOUNTABILITY of the Fed to the hundreds of millions of people over whose economic lives the criminal parasites who own and control the Fed exert virtual dictatorial control!
http://propagandamatrix.com/fo.....012.0.html
July 14th, 2009 at 10:46 am
momma told me life is like a box of chocolates… you never know what you’re gonna get
Madman Reply:
July 14th, 2009 at 11:47 am
Thank you Forrest Gump, now pick up your rifle solider, and start shooting.
July 14th, 2009 at 11:14 am
” It is Congress’s constitutional duty to protect the value of the money, and they have abdicated this responsibility for far too long.” – Thank you Ron Paul, GT
Madman Reply:
July 14th, 2009 at 11:49 am
It’s the American people’s responsibility, when Tyrants reign over us under the illusion of Government, that we rise up and destroy that Government, and bring it back to the Republic that our forefathers fought for.
America was not intended to be a democracy… but a republic.
Time to stop the feds looting, by starting the shooting.
First shot fired goes down in the history books as the shot heard around the world.
July 14th, 2009 at 2:40 pm
America is gone. A revolution will only eccelerate what they want…the most difficult thing to do is the right thing to do. Let them have this world. Make a decision that we are NOT of this world, but the one that is to come. God Bless.
July 14th, 2009 at 3:54 pm
No “Independence” with the VALUE of our money ~
DNC & RNC have BOTH sold out the country in order to enrich themselves.
Independents agree on more than we disagree.
Beware the divide and conquer.
Nader Paul Kucinich Gravel
McKinney Ventura too
perotcharts.com
Five veterans
The Fed
AIPAC
9/11
July 14th, 2009 at 7:00 pm
Isn’t This Govt of The People For The People or a Govt Ruled By The Elitist?We The People not only demand Full Audit and Transparency of The Federal Reserve but a Complete Clean up Congress who are Agents of The banks and Not Representing WE The People.Most of Them Voted for The Bail out Bill who gave unlimited Power to The Fed to pay off The Crony Bankrupt Financial Institutions who created The Crises in the First Place.
Our Govt has been Hi jacked by The New World Order CFR/TC/ Power Structure. our Elected Officials No longer Represent the People.We Must Break out of the Hypnotic Trance of Deceit out of the Comfort Zone of Matrix Main Stream Propaganda and become Conscious as David Icke so Brilliantly Explains.
July 14th, 2009 at 8:50 pm
It’s time to pull Jacob Rothschild in and tell him we need to have a look at the books. Otherwise we want all of our money out of his Non-Federal Non-Reserve Non-Bank.