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Ron Paul To Ask Fed Why After Trillions In Free Money, Unemployment Is Still Sky High
While everyone is relishing the Fed's third and only mandate these
days, namely to send the Russell 2000 to 36,000 and cotton limit up to
infinity and beyond, while everyone else is terrified to short stock in
advance of what increasingly appears like near certain additional
quantitative easing, congressman Ron Paul has announced that the first
Monetary Policy subcommittee meeting will focus on one of those two now
forgotten Fed mandates, that of creating jobs. “I’m very pleased to
hold our first subcommittee hearing in the new
Congress on a topic that could not be more critical, namely
unemployment. Despite enormous amounts of monetary and credit expansion
by the Federal Reserve in recent years, the nation’s unemployment
picture remains bleak. While many focus on the impact of fiscal
policies on employment, the effect of monetary policy often goes
unexamined. In my view we are now experiencing the bust that inevitably
results from the misallocation of capital and human resources in a
period of artificially cheap credit. It is important to understand the
Federal Reserve’s role in creating today’s unemployment crisis, while
also highlighting that high unemployment and low economic growth can
persist even in the face of tremendous monetary inflation.” Of
course, the answer to all of these problems is simple: no debt ceiling
raise. If the Fed can't monetize any more debt and make the Primary
Dealers ever richer (now that the PD ranks have just been expanded from
18 to 20 to include SocGen and derivative (!) trader MF Global, and its
CEO Jon Corzine) from commissions on indirect debt monetization, its
power is gone. But that will mean doing something for less theatrical
than a few hearings, and far more responsible: such as preventing
rampaging inflation across America (see cotton chart posted previously).
Paul Announces Subcommittee Hearing On The Federal Reserve’s Impact on Unemployment (link)
Domestic
Monetary Policy and Technology Subcommittee Chairman Ron Paul announced
today the Subcommittee will meet for a hearing to examine the impact of
Federal Reserve policies on job creation and the unemployment rate. The
hearing will be held on Wednesday, February 9th at 10 am in room 2128
Rayburn.
Subcommittee Chairman Paul said, “I’m very pleased to
hold our first subcommittee hearing in the new Congress on a topic that
could not be more critical, namely unemployment. Despite enormous
amounts of monetary and credit expansion by the Federal Reserve in
recent years, the nation’s unemployment picture remains bleak. While
many focus on the impact of fiscal policies on employment, the effect
of monetary policy often goes unexamined. In my view we are now
experiencing the bust that inevitably results from the misallocation of
capital and human resources in a period of artificially cheap credit.
It is important to understand the Federal Reserve’s role in creating
today’s unemployment crisis, while also highlighting that high
unemployment and low economic growth can persist even in the face of
tremendous monetary inflation.”
The Federal Reserve has taken
unprecedented action to provide liquidity to financial markets and some
U.S. corporations; however, unemployment remains above 9 percent. The
hearing, entitled Can Monetary Policy Really Create Jobs?, will focus on
the Fed’s recent actions, the likelihood those actions will reduce
unemployment, and the critical role of the private sector in job
creation.
While the Obama administration and Democrats in
Congress believe increased government spending will improve the nation’s
economy, Republicans on the Financial Services Committee know economic
growth depends on providing the private sector, especially small
businesses, with the certainty they need to create jobs. The Fed’s
policies, as well as the Obama administration’s unsustainable debt and
spending, continue to prevent small business owners from growing and
hiring because of continued uncertainty over new taxes, higher interest
rates, and the expanding role of government in the economy.
On
November 3, 2010, the Federal Reserve announced that it planned to
purchase $600 billion in long-term Treasuries (dubbed “QE2”). This is
the second time since the 2008 financial crisis that the Federal Reserve
has engaged in quantitative easing. The latest round of quantitative
easing, along with the Fed’s action to bailout financial companies, has
added trillions of dollars to the government balance sheet.
»
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My abs are rock hard thanks to your gut busting antics Hamy!
Thanks to you, I just got off the phone with AAPL and Lululemon and will be working part time at both companies!
These worry warts don't know jack!
With love and admiration,
Magic Mamaliga
what is this thing, an a, with a ring around it? and what is the internet?
the today show - 1994:
http://www.collegehumor.com/video:1946111
Harry, how is it in LaLa Land? Your day job at Obamas press office not keeping you bizzy enuf you gotta come over here and spread your delusional recovery rubbish. They're bamboo shoots mate, not green shoots, few too many take-outs son!
...getting junked 23 times is fuking impressive (no i didn't, i like you around for a good laugh:)
The joke's on you; it's Hamy, not Harry.
You're not going to believe this...and I mean that !
http://fedupmontrealer.blogspot.com/2011/02/itanimulli.html
Implies that Illuminati = NSA ...at least backwards!
But all you need to know about it is here:
http://arthurgoldwag.wordpress.com/2010/…
Arthur Goldwag is a blogger who does a whole 'column' about it. He points out: "WordPress has a feature on its stats page that shows me the search terms that people use to find me and “itanimulli” is one of the biggest ... Other people took the next step and investigated. They swiftly discovered that a computer geek named John Fenley, who lives in Provo, Utah, purchased the domain name “Itanimulli” and is redirecting visitors to the NSA."
John Fenley, who owns the website you asked about, revealed at one point the reason you get the NSA if you type in "itanimulli": He "decided to forward the domain Itanimulli.com domain to the NSA as a joke."
Some people believe the U.S. Government has these supernatural powers. This is a hoax. Now you too have been illuinated.
Small businesses laughed out loud and proclaimed: "Ron Paul, you sure must be joking! We will be hiring the moment we see demand, dude. Our problem #1 is not lack of jobs (we have over-capacity) but lack of sales - and as long as you do not understand this you aint no part of the solution, you are part of the problem."
Do you like your glass half full or empty? Either way, notice the whole glass.
Small business people with ongoing business will indeed respond to demand.
Small business people and potential startups [who are not self-destructive] considering a new business will not take the risk to start that new endeavor in the kind of "elitist predators gone wild" environment we have today... unless, that is, the move to another country first.
Zero,
You got "Hamyed". Pwned by the master.
Lol, just read the name. Wish I could un-junk.
you can... the junk button is a toggle.
word, you selling bullshit? I'll take 2.
Hey, Hamy, they're looking for a writer over on BusinessInsider. Given that their other lead writers are professional trolls more interested in generating hits than reporting the truth, perhaps you should apply?
+1
i like your analysis of msm rep=pro trolls
For Hamy: http://www.youtube.com/watch?v=qxOwHutnXNA
A MUST listen, discussion of the complete end of the Fed.
https://app.freeconferencecallhd.com/playback.html?cn=94-43-28-63&e=1307...
This is the most remarkable thing I've heard in quite some time if true. What is the source?
I'll second that...WTF?
http://www.businessinsider.com/henry-blodget-please-help-us-hire-great-n...
Our consumer discretionary stores in the Twin Cities just hired 10 sellers, and we had our biggest turnover in 14 years.
I did not realize the demand for the phonograph walkman was that high.
QE 2 was not a failure. The market is free to quit anytime it wants!
Reading sites like the Market Ticker, Mish and Max Keiser make me want to commit suicide! Why do they want collapse? Most people just want the economy to recover (and it has been).
When I talk with my friends about food prices, this is the answer I get 100% of the time...
"GOOD! America is too fat! People need to eat less! I hope they keep printing money!"
So your friends are economic retards like you?
Here is a junk for you, how does that feel?
I just want to keep up with Wallstreet. SO I buy the DIP and use the money in my community.
2001 was the "END". Our Brothers tried to warn us!
http://www.youtube.com/watch?v=jqK_0BbZGJY
Not just for Hamy but for GloomBoomDoom also: http://www.youtube.com/watch?v=qxOwHutnXNA
Jack's one of the best for delivering the barb.
Here's a compilation. Too bad they weren't available as individual clips. My favourite @ 1:31 from The Big Lebowski....
Nicholson appears throughout lol
http://www.youtube.com/watch?v=PSEYXWmEse8
If they ever audited ZeroHedge there would be a lot of people going to jail! (We know too much!)
Knowledge wants to be free. You are dancing around the suggestion that thought crimes are a fait accompli.
"All tyranny needs to gain a foothold is for people of good conscience to remain silent." ~Thomas Jefferson
If Jefferson was a god, Aaron Burr was his saint.
you are full of shit
When I talk with my friends about food prices, this is the answer I get 100% of the time...
"GOOD! America is too fat! People need to eat less! I hope they keep printing money!"
what an ignorant comment since the cheapest foods to buy (and bought by the poor)- are typically the most processed, high calorie and least nutritious-
you're pretty stupid aren't you?
We will find nutrition costs more than we think. When was the last time we ate real food, drank real wine, fu*ked real women?
people are eating less, all they can afford are chips, YUM!
Sexworld is hiring too!
I wish you would quit Wanger. You are corrupting my brain dead son.
I haven't been on ZH very long, so I was just wondering, does Hamy work for Fox News?
No it's pretty evident he works for the obama administration. Wanger is all about promoting how great the economy is.
it is amazing how these gloomers pay everyone off to make it look like the economy sucks.
It's amazing how stupid people can be to believe the economy is A-OK.
i love AApl and LULULEMON turnovers, especially the biggest turnovers!
"Our consumer discretionary stores in the Twin Cities just hired 10 sellers"
wow- we're fucking saved-
Wanger- you're such a flametard- every site I have ever seen you on-
why don't you go jerk yourself off to some Fortune and Forbes magazines
I guess you have learning difficulties .....
Hey Hamy!
Bllllllleeeeeerrrrrrrrhhhhhh.......
<beans for dinner, slobberry lippssss......ppprrrrr...>
Ron Paul rocks!
Are all you people deaf? Can't you see it's Hamy, not Harry!
Six of one, half dozen of the other?
Hey DickHead...shut up.
Hey listen there Wanger,at least its all good for you but i am not so sure the 45mm people on food stamps and climbing are feeling so great.I have a great business also but i am one of the lucky few. If you really believe this country and this world is in such great shape then all the best to ya. But why dont you step outside your bubble for a moment and really crunch some numbers so you can see what is really going on. Yes the the stock market has been riding high but as i am sure you can see the $ has not,it is setting up soon for a disastrous fall and the next market correction that comes will be the most severe one yet something the likes that no one has ever seen. The fed will not be there to print the money anymore when the time comes and it will make 2008 look like a cake walk. But hey i am sure you will be out of all your positions by then and will have already shorted everything. Happy trading Wang
I guess Mr Paul didn't get his PHD in econ.
simple: QE2=commodity inflation=lower corporate profits=less purchasing power for consumers....all of these lead to job creation....oh wait
Does Ron Paul want to raise the debt ceiling? I get the impression he doesn't, in which case he wants to default on the mational debt which would be a bad idea.
Ron Paul must know that the Fed cannot stop without a catastrophic plunge taking place.
The part I truly resent is that the money changers made out like bandits while being the architects of the entire crisis.
You are forgetting about the "PLUNGE PROTECTION TEAM" lead by Goldman Sacks all of America!
Ron Paul tried to warns us! No one is listening...
http://www.youtube.com/watch?v=EnRCz2Dcd_A
Wasn't that the point?
Maybe rewording your sentence will help you to understand. . .
The money changers, the architects of the entire crisis, made out like bandits.
You are assuming they exchanged their paper wealth for hard assets already. That is the funny thing about escalators, you are never quite sure when to get off. In case you were wondering....I get off every Mon, Wed, Fri and twice on Sun.
UF
What high unemployment? Have you seen the number of people so satisfied with Bernutty's wealth effect that they stopped looking for work and are now enjoying their time in leisure?
Enough talk Ron. Put out a bill to make the Fed stop.
I almost agree...or rather understand your clamor for change...especially since his demeanor is naturally subdued most americans cant process the info his says unless "end the fed." I wonder what could be told to US (in a fed edit) public and they just miss it or burry their head in ... well you know the rest
He knows all that money and credit is being used elsewhere and now he will get the Bernak to say it for the cameras
I don't know.
http://www.youtube.com/watch?v=n0NYBTkE1yQ
I cannot believe Alan Grayson is now unemployed!
The market hardly moved a needle after the partial audit was recently released.
...I wonder now what the market would think if Grayson's question was finally answered
Ron Paul should be our president (people just make rap jokes when they talk about Obama). Steve Jobbs gets more respect!
The BenBo in the hot seat Bitchez!
Why the answer is simple..
We simply have underestimated how much money printing is necessary. Patience my peasants patience..Bernankian economics is a "complicated" mechanism. And please pay no attention to the hundreds of millions paid monthly to the PD's since it is essential that those who created this havoc are rewarded in order to ramp up their hiring so they can best allocate the digitized debt to the proper commodity.
P.S.- May I remind you Congressman Paul that you have no subpoena power and I as Emperor of the world do not have to explain my genius to the likes of your kind.
Can someone explain to me why we need more primary dealers? MF Global!!?? They've got to be kidding. Corzine must have film negatives.....
Why not just sign up the Bank of China and save on underwriting fees?
Wait, so Jon Corzine gets to become a primary dealer??? WTF??
Federal Reserve Balance Sheet and Debt Limit have nothing to do with each other. The Federal Reserve can buy up worthless HELOCs until the cows come home. There is simply no limit to what the Federal Reserve can do with their balance sheet.
Since the Fed is monetizing ALL new gross issuance (i.e. Treasury debt), they have everything to do with each other. Might as well force the Fed to buy up SPYs (openly) so this whole house of cards crumbles asap.
Tyler... You have really nice abs, a very large brain and the best website on the internetz.
"Might as well force the Fed to buy up SPYs (openly) so this whole house of cards crumbles asap."
WTF!?... They are'nt already openly buying the SPY?
first time i have seen you venture into the waters of the peanut gallery... but as i don't look at the comments of every thread, i am sure its not your first time...
my question is: hyperinflation or no?
i say no, i have said before, the bankers don't benefit by it, they won't allow it.
what is your take?
and you support that?
he can support it but it won't support much else for much longer
Yes, there is an emergency powers app for everything, even money laundering.
don't think of it like that, plain daylight robbery will do
Inflation? A chocolate bar is still the same price!
http://www.bbc.co.uk/newsbeat/12346546
Inflation metrics are flawed, no one thought to account for the fact that you are actually getting less product.
Enough of the talk Ron Paul, we all know the FED are the biggest bunch of criminals the world has ever seen, serving their masters by destroying the wealth of the populous for the benefit of the few... we don't need to hear the obvious yet again.
Enough talk, put the FED out of business and send these criminals to the chair.
this will take more than just Ron Paul,
Do YOUR PART and make a call...
just enter your zip in link below:
http://www.congressmerge.com/onlinedb/
Have you done this lately tellsometruth? I am not trying to be combative, but the last four times I wrote my congressman I received the same generic letter explaining, "...how important my concerns are and that when the time comes for a decision my ideas will be considered". I called twice and received the same talking points from a volunteer over the phone.
Translation = add address to political contributions mailing list, and round file citizen concerns. Maybe Congressmen/women in your district are more receptive, but mine are closed for business to the "stupid" taxpayer.
I used to get somewhat legitimate responses from my Representative. Now, not so much. I swear, Ben, Barack, all of them have a worried look in their eye. They couldn't give a rats behind about us. They are all worrying about covering their butt when the SHTF.
Yes, I have been badgering Speaker John, along with my reps especially to support Audit the fed proposed and the cftc position limits sharade, judge Painter's letter... I have not been bery satisfied either BUT I will continue...A week after the cftc position limits, I was told there would be a statement for Seaker John, but alas I have not seen one...
Keep up the pressure ZH!
The simple answer is, they get the free money as long as unemployment is high, so why would they want to hire?
Corzine should be arrested for what he did to New Jersey's budget.
Corzine made an estimated $500M on the initial IPO of Goldman Sachs when he was CEO there.
Hell, he could have been the New Jersey State Treasury himself.
It is important to understand the Federal Reserve’s role in creating today’s unemployment crisis,
he's got to be the bravest man in washington
Maybe Ben is smart in the long run by torching all other countries first. Comparative advantage biotches!
Unemployment is so high because the Super Rich don,t give a shit and as as they control everything they see QE money as fair game profits.
Everybody has to do their part--they're trying to help!
The problem for a guy like Ron Paul, or his son Rand for that matter, is they know by now: if they imlement their realistic plans, the U.S. will have to default on its obligations.
Meaning, they know if that were to happen, everyone could then blame it on the crazy liberterians for wrecking our great country. So, if I were them, I'd state my position, as they are doing, and let the whole thing fall on its own weight which it will do in due time....
Otherwise, the country will use these freedom fighters as the root cause of everything suddenly turning to shit. Because the ZH's have known for some time, once the rug is pulled on stimulus spending, defcit spending, and liquidity ramps, the whole thing will crash. At this point, I doubt Paul wants to be blamed for that....
+100
-100
Sorry, but you know not what you speak. A global reset is underway for sure, but...what is your value, what is mine? If you sell boner pills and insurance, you're in trouble. If you are wildcatting for oil, you're making bank. Same as it ever was...
UF
You're right about the populace as a whole being too fucking stupid/wilfully ignorant to comprehend the situation, but I'm not sure the Paul's will change their course for that reason.
I just don't think it's realistic any plans that actually deals with the issues will ever go through either the congress or the senate.
I've heard him answer questions along the same vein before. He makes it clear that blame does not reside with the person administering the treatment (libertarians to use your word)...but stresses the importance of identifying the cause.
In other words, do you blame the doctor for the pain you feel during surgery?
Of course whether or not the masses understand this is the big question.
well, you're a devious bastard.
not wrong, just devious ;-)
They already blame libertarians.
The Typical Libertarian is hated by conservatives because he wants the freedom to snort coke off a teenaged hookers ass while smoking pot and watching a movie full of boobies and cuss words in preparation for sodomizing his illegal immigrant housekeeper, Carlos. The Typical Libertarian also wants criminals, terrorists and Mexicans to roam freely about causing all manner of social chaos, and has no interest in forcing people to love Jesus Christ. The Typical Libertarian is a traitor to the GOP and America because he failed to support the war in Iraq, the PATRIOT Act, the Stimulus, and both Bush and McCain, despite the fact that both men once said something at a cocktail party about maybe possibly lowering taxes on some people some day.
The Typical Libertarian is hated by liberals because he is a crypto-archconservative who wants poor people to go without education, medical care, police protection, food, shelter, and oxygen. The Typical Libertarian spends his weekends running down endangered species in his monstrous, gas-guzzling SUV before stopping off to smoke a pack of cigarettes in a daycare. The Typical Libertarian wants the world to be run by unaccountable multinational conglomerates instead of unaccountable governments. The Typical Libertarian is a racist, sexist, profit-driven nihilist who failed to mark the ascendance of the Chosen One, and has never protested for Union rights nor worn a T-shirt with the word Darfur on it.
Despite clinging to a hopelessly unworkable, idealistic and marginal political philosophy, the Typical Libertarian has recently been discovered as the cause for the downfall of Western Civilization.
http://www.newsweek.com/2008/10/18/the-libertarians-lament.html
Did you know the age of consent is 13 in france? Thats why ol whatshisname fled there. Here's to teenage ass (18 and over) and cocaine. Teenage ass is always the tightest. But watch out for that cocaine fellas. Too much cocaine and you wont be able to take advantage of the teenage ass. Libertarianism sounds good.
snort, too true.
Who junked this? It's sarcasm.
that was my thought too. you clearly posted a segment from elsewhere to make a point, and they're hammering on you?
some folks just don't get it...
(yeah, i know... junk me too)
Bravo! Let's hope they are strategic enough to see the risks as you have outlined them. There will need to be confidence in key intelligent people to help us rebuild and the Pauls are among only a handful of contenders at this point for such a role. BTW, the reference in the article to the republicans on the finance committee being the white knights is a damn joke. They are about as fiscally responsible as Mike Tyson.
Wether the US defaults now or later is imaterial,it is how the default occurs wether from within or without.If it occurs from within the US stands a chance of carrying on,if it happens from without,ie refusing devalued dollars for trade and demanding Gold,the US is finished,that scenario gets closer every hour of every day of every week.The longer this goes on the only option available is to print to infinity by a regime which is clearly out of control and despotic (ie never wrong until its wrong) and totally in denial of what is staring everyone in the face,it is morally,spiritually and financially bankrupt.
who IS John Galt?
Watching Bernanke testify to Congress is like seeing Keyser Söze punk that clueless customs agent near the end of the movie The Usual Suspects. Whereas Greenspan would literally mesmerize the SOBs with trance-inducing blather, Bernanke just baffles them with bullshit.
Real Estate is the key. Volker and Greenspan knew that was the juice that was needed to create jobs. In the 1980's FHA offered 30 year loans to Investors with 15% down. They also gave 15 year depreciation. What that did was to take all of the existing housing inventory off the market as investors scrambled to buy as much as they could afford.
Bernanke has ignored Real Estate. I would like to see a plan to give anyone with a Mortgage an automatic ability to refinance for say 2%, as long as they have made the payments on time for the last 3 years. That would free up a lot of cash for the average American, this would include investment properties. I would also like to see more modifications so people can keep their homes and not let the Banks dump them on the market for below market value pulling everyones value down.
Bernanke only knows how to enrich the Banks and the wealthy. He needs to come down to earth and learn how to enrich the little people. That is when the economy will recover and the Money will trickle up. Todate no money has trickled down.
WTF? Real estate is still overpriced nationally. What are you smoking?
"To date, no money has trickled down"
You don't get it... its not meant to. Trillions flying around... enough for principal reductions many times over, ask yourself why in the world would "the bank" want to truly help the homeowner when, in effect, you either pay the nut, or the banks can possess the home... receiving something real without "true" consideration. Why do that when "marking to fantasy" works so much better... and throw in some bailout money for consolidation to boot. No, onward say the banks. 2 billion asians and indians without credit cards is a much better prospect than helping the tapped out american homeowner.
Why is Bernanke and the Banks so intent on destroying Real Esatate Values. It is beyond me. Although, if you own Rental Real Estate it is good. Property taxes are down and rents are up.
If Real Estate values went up many of the underwater homeowners could sell and not suffer a forclosure. If Real Estate values went up then even the Banks that are holding all of those propertys could sell them for at least what was owed on them.
What is the probem with Bernanke's thinking? Only inflate the Stock Market? How does that affect the average person? Yet, if housing was inflated it would help everyone. The Banks, the individuals in America.
Yes, inflate housing so everyone who has a job that doesnt pay enough money can default all over again.
Ok, see, there isn't meant to be any "help"
Catherine Austin Fitts, former secretaey of housing for bush and wall street somebody may help you see all this in an entirely new light. The video is worth all 56 minutes...suggest you watch. :)
http://theendtimeshoax.blogspot.com/2011/02/global-tapeworm-economy-cath...
WOW. Great Video. Thanks.
And, man, are they licking their chops over those 2 billino people - think about it; just get $5 per month from each of them! And if you can steadily inflate their economies and get them a "wealth effect" which puts them on a borrowing spree, so much the better!
This is what comes from paying out quarterly bonuses...gotta make each quarter better than the last, right?
Ever since I heard of QE I thought it had everything to do with real estate. If they can cause massive inflation then all the crap mortgages out there will good again. A trillion dollars of crap MBS are now worth something again. Touchdown. Bernanke retires to write his memoirs after saving the country. I don't agree with this but I think it might be just as much a part of the plan as stiffing the asians on the treasury paper.
Dollars (FRNs even more so) are more stupid than cattle, you point them in a particular direction and they scatter with the wind! How then is the Bernank gonna get them to re-inflate housing prices? Herding cats would be a more pleasurable pastime!
Maybe it is because we are teetering on the collapse of everything? Too bad benny cant tell him the real answer and that we might need to toss in a few more trillion before this is all over and.we all have jobs again and can laugh about those troubling times over our once a month splurge on a ten dollar happy meal in 2018.
Unemployment is 28-year high, but Wall St. bonuses are at the ALL TIME HIGH. This is exactly what the Fed was designed to do: wealth transfer from the bottom 90% to the top 1%, and then trumpet the "trickle down" effect of it.
Is that a golden shower I'm getting?
Naaah . . . tungsten.
I sure hope Dr. Paul has a lot of bodyguards; they killed Kennedy for a lot less.
HammyWanger open your eyes and "see" the true state of US job market.
3 anecdotal examples of job creation does not prove anything. It does prove that you are clueless of what is really going on.
Go ahead, hire 20, 30 or even 50 more sellers for your enterprise and don't forget to load your stock because demand will be gigantic. And by the way, why don't you borrow some cheap money and buy S&P, Dow and Russel?
"....now that the PD ranks have just been expanded from 18 to 20 to include SocGen and derivative (!) trader MF Global, and its CEO Jon Corzine"
Unfuckinbelievable!
Well, actually, given the current state of affairs.....quite believable.
'why after trillions....unemployment is still high'
...and the bernank will answer: because trillions are not enough, we need to be doing Quadrillions !!!
....and after us banksters take our large and obscene share, perhaps some will trickle down to the regular folks.
It is not nice to ask a question to which you already know the answer, but in this case, it is necessary. I hope he is not expecting the truth.
END THE FED
True enough.....but there's really no need to 'end the fed', eventually all parasytes over-reach and self-destruct.....hopefully asap !! ....the fed is well on its way.
Let the circus......ooops, I meant hearings begin!
Perhaps the Bernanke should buy a cot and install it in Ron Paul's office of the Hill, I suspect they'll be seeing a lot of each other in the upcoming months.
Way to go Dr. Ron --- Orville Redenbacher looks forward to your hearings.
Sen. Rand Paul also gave his inaugural speech in the senate floor.
Even liberals said it was an "Amazing debut."
Confirmed: there are two adults in congress.
BRING BACK DA BOOMB! (Volume check)
http://www.youtube.com/watch?v=HtRANf42vTA
Same day... same place (I was at Sounds of the Underground)... get pissed! 2003-2004 No better time for music other than the Vietnam era (60s-early 70s)
http://www.youtube.com/watch?v=zynRICqHdW0 (turn it up!)
The Nations will crumble! Feed lies for War... to bring a Nation to its knees... RISKY WORLDLY STRUCTURE! (they were right!)
http://www.youtube.com/watch?v=uZpiTA5LX0A
You don't think Bernie Sanders supports him on this issue??
Backstabber Bernie? Please. Actions speak louder than words. Look at what Bernie did to the Audit the Fed Amendment in the "Financial Reform Bill".
I asked for that one . . .
I am Chumbadumba!
And junked.
I got him too.
Chumbadumba has been a member for 33 weeks and 2 days and that was his first comment...
I fear this is just the beginning!
http://www.youtube.com/watch?v=-Qg0w8qbBQo
Hey satire is funny guys!
Ron Paul and Ralph Nader agree on the Fed
http://www.youtube.com/watch?v=zYXVD7uBU2s
Informed progressives are straight on point about this.
Unfortunately, progressives do not tend to be math-smart. What I'd give for a Paul-Nader presidential ticket!
Or Nader-Paul.
QE3...that's the ticket. That'll git 'er done, Ron.
they're even cheating in plain sight on the friggin numbers, remember QE-Lite shudda been QE2 so we should be on QE4 next... just shows you how 'successful' this programme is! What'll it take QE86 before they regard it as a 'Fail' ?
honestly how can anyone expect employment to rise with all of this dang snow???
it's a trap set for Ron Paul 2012 to lose. Ron Paul up=> stock drop. Obama/Ben up=> stock up. Which one will J6P pick?
Ben is untouchable unless Ron Paul become our President in 2012 without being assassinated.
Shit. Bernanke's reply might well be that they didn't give out quadrillions.
There is nothing Ron Paul or anyone can do to fix this. The rot goes right into the core. The entire system must be burned to the ground so that natural succession can occur.
we are not Egyptians. It's not gonna happen...
Two thoughts for you:
1. Expotential functions.
2. Great Implosion!
yup. it'll look different, but it will happen.
impressive that it's held on so well for this long. better than the alternative accountability for now, eh?
The Ben Bernank starves people for Big Banks.
Forget the hearing and start the trial...
oh but we must have a hearing, and a trial and a hanging; just not necessarily in that order !!
totallly agree w/you on the bernank case...good post Reese.....by the way, any relation to Buttercup ? just kidding!
RE: "...Of course, the answer to all of these problems is simple: no debt ceiling raise. If the Fed can't monetize any more debt and make the Primary Dealers ever richer...its power is gone..."
Not true. The FED does not need the debt ceiling raised in order to create liquidity/money. All it needs are computer terminals switched to the "on" position, and a few nimble keystrokes. The debt ceiling/POMO games are normative dances...but in operational terms, they have nothing to do with money creation.
You are focusing on the wrong issue. It's not the debt ceiling, or monetization of debt, that matters. It is the Fed-Treasury ability to create money whenever the macro conditions appear to warrant such actions.
You are right about the quote. But if our bought-and-paid-for Congress couldn't deficit spend to the tune of $1.5 trillion a year we would see some progress. That Department of Education sure is doing a great job! Our 140 country military empire sure makes sense! etc. etc. etc.
@ Reese Bobby
Fiat currency is bad for democracy [sic]. With no limits upon spending, a government acts with utter disregard for the rule of law, democratic institutions, etc.
I think you are quoting last weeks figures? During a recent NFL playoff game the commentators welcomed U. S. soldiers in "175" foreign countries. By the way have any of you come to the realization that the Department of Homeland Secrurity was set up to be used on the American people? We already have drones flying over Florida cities and Houston, illegal checkpoints at highways throughout the country and Big Sis TV screens coming to 9000 U. S. retailers. Iraq and Afghanistan were training grounds for what is going to take place in urban America. Don't believe it? Just wait and see!
The Fed are doomed... it's their 3rd innings and hopefully their last with Ron Paul as parasite banker exterminator... gas or poison Mr Paul? ...the audience don't mind, in fact use both and bury the money monopoly cabal