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It's Official: Ron Paul Is Head Of Monetary Policy Subcommittee
Despite rumors that various splinter forces within the Republican party are attempting to block Ron Paul's fateful chairmanship of the Monetary Policy Subcommittee, we now have confirmation that the only sane politician left will now be Ben Bernanke's direct nemesis during any and all future Congressional spectacles starring the printing unchallenged one. And with US debt creeping ever closer to the debt ceiling, coupled with the dollar for dollar monetization of the US deficit, such spectacles will soon be plenty.
Fast forward to 3:30 in the clip for the announcement.
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we're the only ones who CAN pay-so true.
Leaves the viability of false currency in the hands of low paid wage earners-another form of TSA inspectors- using walmart cashiers questioning every 100 dollar bill--most everyone that pulled cash from their bank would probably do good to get 50's and 20's--just saying especially if the Goobermint decides to announce that all 100's in service are forgeries. hmmmmm
Ron Paul will be more effective if he lays of the Ayn Rand style ranting and stop being a monetary revolutionary. There is no political appetite for monetary revolution and no one knows what you wind up with if you totally destroy the current system.
Much more effective would be a gradual, evolutionary nudging of the system back towards sanity. Please use as a guiding priciple "Fairness" - make it Not OK for public officials ( like treasury secretaries) to get on public tv and say " what we are doing is deeply unfair but we have to do it anyway to save the system". That is NOT OK. I dont understand why it was ever considered OK. Fairness has to be the goal in money matters. After all money per se does not directly create any wealth, goods or services. It is like the justice system - to provide a social context in which people can be productive. So it has to use justice and fairness as its guiding priciples ( Not "innovation" - no, that can be the guiding principle for the real economy - but not the money system).
@primefool (a well chosen name)
"There is no political appetite for monetary revolution and no one knows what you wind up with if you totally destroy the current system."
Since 95% of America was opposed to the Banker Bailout, your statement while correct regarding a corrupt congress is not the will of the people.
Actually we do know what we wind up with after: no privileged counterfeiter class and a lot less predation! A chance once again to accumulate genuine wealth instead of more banker controlled debts and a very effective curb against Fed Mafia spending (no more stealth pick-pocketing).
VEx
So why was it that the 95% opposed to the bailout were unable to stop it? Why is it that all the ranting and gold-buggery has not made a whit of difference ? You might want to question what it is you are doing wrong.
Got to whille away at the source - The Dual mandate. That appears to be the raison-d'etre for the Fed.
primefool, I beg to differ -
'Modern Money Mechanics,' otherwise known as fractional reserve banking, IS the raison d'etre of the Federal Reserve Bank and ALL central banks and economies built on rubbish.
It's a system where each dollar is a debt from the day of it's birth, and where that debt is leverage 10x the moment it enters the world.
From thence, it is leveraged again and again (think margin, general credit, CDS, CDO, etc.) ever so upwards, thusly - until it begins to pick up velocity, and before one knows it, the debt of consumers, businesses and the nation has grown exponentially, and none can think of any solutions as they stare at Debtzilla.
The Federal Reserve 'Bank' makes no secret of its bible - 'Modern Money Mechanics.' It's in open and plain site for all to read and see that our system of banking is our achilles heel, as not only is each dollar created a debt, in reality, but as we allow so much leverage of that debt so quickly, and as we don't have anything of inherent value to immediately back all the debt we so quickly create.
So, therefore , force the Fed to explain its every action on the basis of why it fosters a fairer system, why iy is more just. Not whether it will create jobs and growth - which in fact it cannot do anyway ! It can create inflation - and the Fed must explain in public who benefits and who loses from inflation and be forced to do so in an honest way. Then Ron Paul will be making progress.
If he simply keeps on ranting about a gold-standard nothing will actually change.
OK, now consider the connection between justice and a gold standard. They are connected. Do you know how?
BTW, I doubt whether it will be possible to implement a gradualist approach. BB has all but guaranteed a dollar crash.
Man I hope Ron doesnt suddenly get severly depressed, drive himself out to the woods, and then shoot himself twice in the head.
So long as he remembers that teenage ranting is fun to watch but changes absolutely nothing - he'll be fine.
The enemies of Ron Paul are many
You will know Ron Paul by those who fear him
endless wars & corrupt Fed all support the NWO
His enemies are my enemies
Here's to success in his fights
for the lights of freedom grow dim.
There is a God! Now make sure Ron stays out of any hot tubs.
I greet this news with some degree of joy, although as some others have posted on here.....just how influential can RP be in this position? Sure, he can 'chair' hearings and maybe issue subpeonas...but what actual result can we hope to expect out of this?
Also, the GOP insiders may have allowed him to take Bawney Fwanks seat in order to keep things under relative control, but did they not also discuss ways in which they could limit the scope of his influence?
I rather suspect any hearings RP conducts will suddenly not rate headline coverage on the idiot box, and might even be preempted on CSPAN by an archived speech or 'round table discussion' about social issues, conducted by some 'institute' or 'foundation'. In other words, the sort of stuff that while potentially stimulating intellectually, is meaningless in regards to the biggest issue of the last 100 years...the absolute, unconstitutional criminality of the federal reserve system.
Godspeed Dr. Paul, you are a true citizen statesman amongst a gaggle of politicians.
So how long until he is accused of rape or wife brutality? You know the scum PTB aren't gonna let him steam roll Benny without scheming up some crap to charge him with.
I hope Ron is successful in reigning in the crook Benny, but I am not going to hold my breath.
This makes me grin like the Cheshire Cat. Even if this doesn't result in significantly greater awareness of the Fed's thievery, at least Ron Paul is going to keep Bernanke squirming in his seat like he's got hemorrhoids that Prep-H can't touch.
One word ( well .. phrase ) for Ron Paul - Change the Fed Mandate. Al else is teenage thrills and momenray pleasures of peasants shooting rubber bands at the feet of their masters. Change The Mandate.
Change the Mandate???
How about: Unscrew their heads and shit down their necks!
http://www.youtube.com/watch?v=pJ9Kk3ATyuM&feature=related
The Apaches would bury a victim up to his neck near an ant hill, then smear his head with honey. What do you think, too subtle?
Thank goodness. Maybe we get back on track.
We the People having Observed the following:
1. The Fed has failed in its mandate to preserve price stability since ... well ... since inception.
2. The Fed has failed in its mandate to preserve full employment. ( any questions?)
3. There is no sound basis for believing that a bunch of bankers with free rein of the printing presses can fulfil either parts of the Dual Mandate.
4. We therefore Cancel the Dual Mandate
6. henceforth the Fed will be charged with maintaining Fairness in monetary affairs. Comments are welcomed on what constitutes fairness and how best to achieve it.
7. reminder: The Fed produces No goods or Services that the American people. It has shown no ability to influence the goods and services producing economy. It is however necessary for the country to have a monetary system. A monetary system that has Fairness as its guiding principle.
Ron call Geraldo Rivera and head over to Fort Knox for a major YouTube hit.
All they'll find is Al Capone's bones... gold plated, of course.
http://www.bloomberg.com/news/2010-12-09/obama-jpmorgan-s-dimon-met-at-w...
Interesting Jamie Dimon was at the White House the other day to offer the President advice on the economy. Why does he have any interest in conversing with someone that has never created a business from scratch and has been ushered in for decades as the golden boy of shell passing. What does he know about business aside from how to slice the corners off for himself of actual production.
What would a "fair" monetary system look like? Good topic for congressional debate.
A couple of ideas to start the discussion:
1. People accumultae wealth through the expenditure of labor, skilled labor etc. Or by the assumption of business risks. This should be encouraged. Wealth accumulation by sectors of the population that provides no services of any discernable value or takes any business risks - should be investigated - just to make sure we are not missing something.
YAHWNNNN...!!!
I like Ron Paul, but the money has already been stolen. Balance budgets to get the deficit under control, then the debt, but don't forget clawbacks and public hangings for what has already taken place!
Well, I donated to and voted for the guy, and I feel vindicated about that.
I hope he can do some good.
I fear it may be too late to be of any good to us. I already started using FRN's as toilet paper last week ;(
well i liked the last topic. not allowing them to change the definition of words. making journalism free to declare who what where and how you speak report news you feel, hear or sense. freedom of speech in any form.
internet blog bitches and bastards
Ron Paul 2012.
More likely Mitch Daniels of Indiana, but Paul would be a great VP, major domo, sort of a libertarian Cheney.
I worked for Paul in the tilting against windmills campaign in 88. He was green and naive, but dead right on the issues. He has a base now. This will be fun, and it will scare the shit out of Washington.
I think your right and he has my vote. You ever read Matt Taibbi's "Spanking the Donkey" ? Enlightning to me on what a farce the campaigns are and entertaining too.
This should provide good fodder for many great videos to be posted here on Zero Hedge in the future. I can't wait!
Pecora he ain't. If he were, he'd likely not live to see his confirmation.
I met Ron Paul at a political fundraiser. He does not exude a typical politician's charisma, but his dogged persistence will help him accomplish his goals. Meeting him gave me hope that there is a politician who is smart, sincere, and who truly cares about this country and its people.
He is a breath of fresh air !
I hope he has taken precautions in regards to his security.
Who knows what these nutjobs will do.
Ron Paul is a goofy guy, but I agree with other comments that he is generally on the money and dogged on the Fed. That is the only thing that works, steady dogged, indefatigable persistence, not lettin' go of that bone. (This is a lesson that Obama and the Dems could take some instruction from, they of the "throw the fight before you even engage" school of thinking).
In terms of what will happen to Ron Paul if he actually does try to challenge the big boys, the list is fairly short, as we see from history and various exposes.
In order (if not #1, go to #2, etc....)
1) Buy 'em off (with financial or political favors).
2) Scandalize them (sex first, then politics, then personal: affair, child porn, homosexual fling, campaign finance irregularity, unpaid taxes, hiring illegal immigrant, the list is well worn by now).
3) Demonize them (get your lackeys in the media to discredit them as the next great corrupter, destabilizer, the face of evil, etc.)
4) Marginalize/isolate/occupy them ("kook," "conspiracy theorist," cut off all resources, blackball, punish their friends and family, investigate, throw meaningless suits and charges at them that take years to defend).
5) Kill them (hasn't worked with Hugo Chavez or Fidel Castro, but just about anyone else. One weak link in the inner circle, lapse of security with mechanics and a plane, bomb in a PDA, poison, pretty simple, and since no country (especially U.S.) is even hiding the fact theit will kill and torture to protect "national security" (read international financial elite), you have the added bonus of not even trying to hide it.
Let us all hope that Ron Paul is not run over by the train that is the predators-that-be.
It very well may be that they decided to give Ron Paul this position to generate material they can manipulate and misrepresent to destroy his chances for his next presidential campaign.
Oops forgot one other, befor "kill them."
5) Frame them (edit their remarks in a way that makes them look racist or sexist, simply plant drugs in their house, digitally splice in their voice and image in a “compromising position” and circulate through the internet and Drudge-type websites. Worked with Shirley Sherrod.)
Just wait til Fox News and CNBC work up some creative sound bites. He is not admired at either network, just for different reasons. He is working in no-man's land now.
Why do I get the feeling that if the U.S. ever did actually revoke the charter and repeal the legislation that enabled the creation of the Federal Reserve Bank, the ducks will already have been lined up by the globalists for a new, stealthier and even more criminal (if that's possible) wealth laundering scheme?
You have that feeling for very good reasons. For example, those predators have more money to bribe, destroy, threaten, manipulate than any other group in the universe. They have proven that no vile action is too low for them to take.
The only way to destroy that cabal is probably with nukes at this point. Unfortunately, they may control the nukes at this point.
What must be ended is ALL forms of fractional reserve activities. If some group of predators can create money out of thin air, without doing any productive work and saving the excess, they will always end up controlling all major governments.
The only solution is a pure, physical gold standard with zero forms of receipts and NO fractional reserve practices whatsoever.
The sword is out of the scabbard.... there will be blood on the floor.
Sins of omission are the contradictory grace of the compassionate Christian. This genuine and sincere man, Ron Paul, will adjust his rhetoric, and slow his actions when he discovers all and more than he ever imagined. In his mercy for the people he will back off the purposely self-destructing Fed immolation rate, turn his head down in humility, and never mention that we have a terminal disease.
hey where'd all those ron paul for pres donations go?
dude took the money and ran.
his son is an israel first douchebag.
end of story.
If all RP does is shine a light on what the Fed actually DOES, as opposed to what we are TOLD it does, that will be enough.
If he needs some help explaining to the American people just how they've been shafted, are still being shafted and will continue to be shafted until the Fed's dismantling.....
welll, I guess there's always talking cartoon bears.
"As far as I can tell, his main qualification to head the Fed is that he has a nice beard."
Talking cartoon bears! But it works......
We could buy out the Fed for a few hundred million and save the usury and 6% dividends rushing the private sector...
http://www.apfn.org/apfn/fed_reserve.htm