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Ron Paul Slams Federal Reserve’s New Dictatorial Powers

Posted By admin On June 19, 2009 @ 4:46 am In Featured Stories,News In Focus,Paul Watson Articles | Comments Disabled

Congressman tells MSNBC that the very entity responsible for the economic crisis is now more powerful than Congress

Ron Paul Slams Federal Reserves New Dictatorial Powers 190609top 

Paul Joseph Watson
Prison Planet.com [1]
Friday, June 19, 2009

Responding to the Obama administration’s new regulatory reform plan, which will officially hand the Federal Reserve complete dictatorial control over the U.S. economy, Congressman Ron Paul told MSNBC that the Fed was now more powerful than Congress.

Paul emphasized that no amount of regulation could compensate for a financial system created and controlled by the Federal Reserve that was completely unstable to begin with.

“The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don’t even have any transparency of this. They’re more powerful than the Congress,” said Paul.

As we reported yesterday [2], the new rules would see the Fed given the authority to “regulate” any company whose activity it believes could threaten the economy and the markets.

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Ron Paul Slams Federal Reserves New Dictatorial Powers 250509BANNER [3]

Obama’s regulatory “reform” plan is nothing less than a green light for the complete and total takeover of the United States by a private banking cartel that will usurp the power of existing regulatory bodies, who are now being blamed for the financial crisis in order that their status can be abolished and their roles handed over to the all-powerful Fed.

“They’re giving a tremendous amount of more power to the Federal Reserve – the very institution that created our problem. That’s about the way Washington works,” said the Congressman

“Too much regulations to begin with, so they give it more. The Federal Reserve creates the problem, so we give them more power. It’s fiat money that’s the problem, so we allow them to double the money supply – you can’t solve the problems that way. That’s like saying you can take care of a drug addict by just giving them more drugs,” concluded Paul, adding that the lack of understanding about how the Federal Reserve created the problem and how the free market ought to work was the root of the crisis.

Watch the clip below.


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URLs in this post:

[1] Prison Planet.com: http://prisonplanet.com

[2] As we reported yesterday: http://www.prisonplanet.com/obama-regulatory-reform-plan-officially-establishes-banking-dictatorship-in-united-states.html

[3] Image: http://prisonplanet.tv/signup.html

[4] The Alex Jones Show: Ron Paul Exposes Obama’s Regulatory (Dictatorial-Powers) Fed Plan: http://www.prisonplanet.com/the-alex-jones-show-ron-paul-exposes-obamas-regulatory-dictatorial-powers-fed-plan.html

[5] Is The Federal Reserve Out Of Control? Markets Across The Globe Brace For Impact As The Federal Reserve Powers Up The Printing Presses: http://www.prisonplanet.com/is-the-federal-reserve-out-of-control-markets-across-the-globe-brace-for-impact-as-the-federal-reserve-powers-up-the-printing-presses.html

[6] McHenry Backs Federal Reserve Transparency Act: http://www.prisonplanet.com/mchenry-backs-federal-reserve-transparency-act.html

[7] Federal Reserve To Be Given Sweeping New Powers: http://www.prisonplanet.com/federal-reserve-to-be-given-sweeping-new-powers.html

[8] Ron Paul Calls for Audit of US Gold Reserves : Kitco News Exclusive: http://www.prisonplanet.com/ron-paul-calls-for-audit-of-us-gold-reserves-kitco-news-exclusive.html

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