Ron Paul: "The Fed Is Part Of The Plunge Protection Team"

Tyler Durden's picture

The most financially astute person in Washington, Ron Paul, highlights the two major accomplishments of the Administration so far:

  • Destroying all confidence in the market economy.
  • Creating money out of thin air.

Aside from that Obama, and the Fed Chairman, have done a swell job.

Lastly, a very honest Paul tells CNBC he is "not sure if he could stand them for two hours." You are certainly not unique in that regard Congressman.

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Screwball's picture

Ron Paul could be a good interview, if someone other than CNBC were asking the questions.  Here was a good opportunity, and as usual, they shit down their leg.  Kernan and Liesman failed miserably.  Why not let Santelli ask the  questons to Paul?

I know, I know.

Anonymous's picture

Team Tyler needs to hire a faceman for this joint. Not one of the fucking clowns or Ms.Clownette but a faceman with a little credibility.

Have the faceman conduct interviews with guests like this.

One well orchestrated interview with a guest like this would be the equivalent of 10000 Darpas.

Alas, cockroaches hate the sunlight.

Cognitive Dissonance's picture

Poor Ron Paul, speaking truth to power when most everyone in America (including the average Joe who is deep captured by his 401(k), IRA and public or private pension) would rather believe the lies if only things would get back to "normal".

He doesn't stand a chance but I give him high marks for trying on a daily basis to tell everyone the emperor has no clothes.

"In order to maintain our way of living, we must tell lies to each other and especially to ourselves." - Derrick Jensen


Agent Orange's picture

I WILL be donating to this guy's next election campaign.  He is going to be called a visionary when this is all said and done.

koaj's picture

you can start for the 2010 campaigns of peter schiff and rand paul for senate

JohnKing's picture


Schiff and Rand Paul should be the first volley. Send money, it will be the best investment you can make.


Handle with care's picture

Ron Paul's campaign raised the largest amount of money of any campaign in the Republican Primaries and was excluded from the Fox televised primary debate the same month.  Even though they had 15 or so people there, some of whom were nobodies who hadn't even raised enough to pay Ron Paul's telephone bill for donation thankyou calls.


If that didn't convince you that democracy in America is a sham and that the only choice voter's are given is between corporate oligarchy selected candidates, what will?

JohnKing's picture

Yes, a total travesty in the Presidential primaries.

chumbawamba's picture

I think they'll get it when they're forced to start paying tribute to politicians and bankers.

I am Chumbawamba.

Arthor Bearing's picture

Didn't you hear about the taxpayers' bailouts of the banks?

naiverealist's picture

In addition, I think it was Mark Twain who said that " if voting was really all that meaningful, they wouldn't let us do it."


'Nuff said.

koaj's picture

i would google up adam kokesh if you're interested in supporting more "liberty" candidates

chumbawamba's picture

We will not obey, mother fuckers.

I am Chumbawamba.

Argonaught's picture

Also Jake Towne in Pennsylvania

Anonymous's picture

maybe you should first define money.the fed reserve credits in your account may be used as a medium of exchange,but do not meet the second requirement of money which is a store of value.the diebold voting machines method of addition is a trade secret.1+1 does not equal 2 in quantum vote are in a dream land if you think it matters what button you push or how many bills(FEDERAL RESERVE NOTES)you mail to these corporate traitors.

Anonymous's picture

schiff is a schill.he refuses to comment on the multiple billions sitting in the conneticut coffers.and he wants to represent the state in the senate.wasn t grandpa at that memorable meeting at jekyll island? paul also refuses to comment on the massive portfolio held by texas or the federal gov.SEE CAFR's of any state or fed gov and come to terms with your brain on MSG

faustian bargain's picture

uh, no. his grandpa was NOT at jekyll island. do a little research.

Anonymous's picture

What a solider! If we get 13% unemployment there will be no need for anything other than a forensic audit of the pieces. The TBTF's should in Denninger's words detonate at 11%. That's why GS is pumping REIT's and now stimulus.

WaterWings's picture

If there is ANY chance Mr. Paul's election is close I will take a week off of work and stand at a major intersection in Galveston with signs, fliers, etc.

MREs and a tent for a liberty-lovin' week. 

This guy is a national treasure. It would be the least I can do.

(But personally I think that scooter running against him doesn't have a chance.)

JohnKing's picture

These things are all about the money, voting, canvassing, etc. has some value but elections are mainly a commodity bought and sold by special interests. We need to compete in that market place and buy our own elections, and vote of course.

chumbawamba's picture

Yeah, forget about doing away with a rotten and corrupt system.  Let's just learn to love it and play along.  We'll be compromising our principles in no time and enjoy every minute of it!

I am Chumbawamba.

JohnKing's picture

It's corrupt because the citizens have been lax in their duty to be citizens. If the creepy critters are buying elections, we need to step up and compete, buy our own. Money talks, that will never change, it's the voice behind it that can.

Anonymous's picture

ron paul is a traitor.he refuses to comment on the tens of trillions of assets the UNITED STATES INC. is sitting on He works for the HOUSE OF REPRESENTATIVES INC. not the people of texas.check dun and bradstreet

Anonymous's picture

apologies faust,was his great grandpa at jekyll island?Whether in blood or ideals the resemblance exists.Taxes only account for 1/3 of government income.The other 2/3's appear from the magic money hole.Ron Paul never brings up the foreign shareholders of the FEDERAL RESERVE.Perhaps that is a more pressing national security issue than doing an audit.With only 1% of the pre 1913 purchasing power remaining,it is time to prep you for a more sudden devaluation.The fractions can go infinitley smaller,but so can the profit margins.It was designed to expire,and may not reach the century mark.Ron Paul still goes on the top ten list for anti central bankster.And yes Brando he strikes fear in all who here him speak.Andrew Jackson also made the top ten anti central bankster list for his views on Constitutional money(no state shall use anything but gold and silver in the payment of debt),though we usually do not mention uncle Andrew because of his sword work against the men of red color.If he had used the sword against the bankers we would have benefited greater.Paul may be defending the Constitution but he is not upholding it.His participation in an un-Constitutional legal tender system should have been apparent that first week on the hill.It has been many years since then.

Apocalypse Now's picture

Most ridiculous comment, shill troll - Clearly you are threatened by him and the honesty he represents so the best you can do is try to smear him.

There are individuals with character, and characters - you are a character.  Andrew Jackson had something to say about you and your ilk-

You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!

Anonymous's picture

Do you have the link? My searches cannot find either example. I think you are right. I saw a John Harris video describing how the UK and the Parlament are corporations.

Anonymous's picture

Its Dun and Bradstreet also see

Anonymous's picture

don't just blame it on obama and ben. give bush his due as a massive screw up (same as his father). what would a republicna administration be doing differently: nothing. i am a republican.

Anonymous's picture

I agree to a point, i.e. Bush could have reigned in Paulson, Greenspan and Bernanke. But one major difference......they recognized the fraud at Fannie and Freddie and pursued changes only to be stopped in their tracks by Dodd and Frank.

Takingbets's picture

I have long ago discovered that both parties are one in the same, they are both crooked bastards looking out for their own interests.

All we have left is to seek out individuals who are by their actions trying to right the wrong.

All this finger pointing does is keep everyone distracted from the real issues going on behind the scenes.

So please stop with the whose at fault arguments, because all of them be it Democrate or Republican are the ones at fault and we were the stupid ones that elected them by letting ourselves be distracted with this senseless back and forth bickering!

Anonymous's picture

And while we're on the subject, Clinton gutted Glass-Steagall does he not deserve some credit? The only party you can pin this on is the Republicrats.

Overpowered By Funk's picture

It's apparent that noted Fed lover and shill Liesman treats Ron Paul like the crazy old uncle who lives upstairs and thinks the Japs are about to invade at any moment. However, I was disappointed in Kernan I thought he would take this opportunity to ask some good questions, and instead he came off  like a snarky no-it-all condecending and patronizing. Save your breath Ron, CNBC is hopeless.

Anonymous's picture

"Should people fear losing their money so we can have bank runs like in the 30s?" YES! He totally missed that one. Banks MUST LIVE IN MORTAL FEAR of depositors withdrawing their money. It's the only thing that keeps them responsible fiduciaries of depositors money. Otherwise they lever themselves up 30:1 and throw the money to the wind. "Creating confidence in banks" (the charter of the FDIC) is the worst possible thing you can do when the banks do not deserve your confidence.

faustian bargain's picture

+1. End the Fed, end the FDIC.

Anonymous's picture

You know, I am gaining a little faith in Sheila Bair. I thought she was a shill at first but she is being pretty damned tough.

AR's picture

In 1998, one of our pricipals was in a wedding with Peter Fisher, the then head of the NY Fed.  He asked Peter if the PPT actually existed and was active in markets? Fisher's answer: YES. The PPT has been active since Greenspan became head of the Fed. Government manipulates all aspects of our lives, as well as other governments. Why would anyone then think the government is not intimately involved in manipulating our markets today?  There are...

Fibozachi's picture

Completely agree that they are and do AR, BUT, it is not like they operate in a vaccuum and they do NOT control the market, they only massage the living crap out of it.  Why do ES volume spikes happen? Not bc some "large buyer" steps in, please, orders are triggered either by finger of frequency due to the same trendline break, the same volume filter ratio so forth and so on.  Not directed at you AR, just puffing hot air aimlessly; and thanks for your advice earlier as well.  Shoot an email my way if you'd like to chat.

Anonymous's picture

...and how much would you pay or what would that be worth to a participant in the markets? What would the quid pro quo be?

how would the favors be disbursed? how do you count the ways? its endless

Anonymous's picture

I hate mornings. I read that as:

... Plunge *Protraction* Team...

A Man without Qualities's picture

I only see this guy Liesman on this site, as I never watch CNBC otherwise, but he strikes me as one of those guys who, with a few beers inside him can tell you exactly what is wrong with the world and exactly what needs to be done.  Put him in the studio, however, and all that bravado easily slips away.

I suspect the reason they think Ron Paul is crazy is because he cannot be bought, for any price and they think that anybody who will not name their price to toe the line, must be crazy.

Handle with care's picture

Great insight on their feelings on Ron Paul.  It must make them even more convinved that he's mentally unbalanced that he's not already a billionaire in the Ross Perot mould.


"He's not already a billionaire and he wont be bought for any amount of money?  The man must be some kind of lunatic!"

Anonymous's picture

Liesman and his ilk are a big part of what is wrong with the world. Can't stand to watch that shit.

Cow's picture

Ron Paul stayed calm with the stupid questions.

Steve Liesman is Mr. Hyperbole.  "So, you want everyone in the US to be in a soup line?"

Liesman's usual technique is to scream louder than the next guy.  He's a miserable human.

phaesed's picture

That's hilarious that he said he didn't know if he could stand them, lolol.

Anonymous's picture

tyler(spreadsheet)durden.take a look at Manhattans CAFR and explain to your readers why they are sitting on a trillion dollars of assets.are you and the buds making some good dough by managing these illicit funds for the thugs?

Mark Beck's picture

The FED is part of the Plunge Protection Team, this is a serious accusation because by extension it includes the Federal Reserves member banks. Does Paul really have proof? working with a FED informant perhaps?

Maybe a new application of RICO applied to private FED member banks. Through discovery request access to all of the NY FEDs books. Uncover Bond interest rate and futures manipulation.

BennyBoy's picture

Of course the FED is part of the PPT, it's not new news.

All the PD's are too, which means foreign banks. And of course these foreign banks also own shares of the US FED.

Back to studying how Japan successfully overcame deflation by QE.


agrotera's picture

Mark Beck,

Below is the Executive Order that created the President's Working group in 1987 aka "Plung Protection Team".  Unfortunately for us, so many things have been "legalized" by the privately held federal reserves agents ( most of our legislators) that legal cover is everywhere...until we the people use our vote to protect our interests instead of the interests of the owners of the federal reserve, this country we think of as our own, is not really ours, we are just here serving this self serving master.  See Section 1 #2:

Executive Order 12631--Working Group on Financial Markets

Source: The provisions of Executive Order 12631 of Mar. 18, 1988, appear at 53 FR 9421, 3 CFR, 1988 Comp., p. 559, unless otherwise noted.

By virtue of the authority vested in me as President by the Constitution and laws of the United States of America, and in order to establish a Working Group on Financial Markets, it is hereby ordered as follows:

Section 1. Establishment. (a) There is hereby established a Working Group on Financial Markets (Working Group). The Working Group shall be composed of:

(1) the Secretary of the Treasury, or his designee;

(2) the Chairman of the Board of Governors of the Federal Reserve System, or his designee;

(3) the Chairman of the Securities and Exchange Commission, or his designee; and

(4) the Chairman of the Commodity Futures Trading Commission, or her designee.

(b) The Secretary of the Treasury, or his designee, shall be the Chairman of the Working Group.

Sec. 2. Purposes and Functions. (a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider:

(1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and

(2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning), that are appropriate to carry out these recommendations.

(b) The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible.

(c) The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes.

Sec. 3. Administration. (a) The heads of Executive departments, agencies, and independent instrumentalities shall, to the extent permitted by law, provide the Working Group such information as it may require for the purpose of carrying out this Order.
(b) Members of the Working Group shall serve without additional compensation for their work on the Working Group.
(c) To the extent permitted by law and subject to the availability of funds therefore, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions.


Anonymous's picture

wait...the people on Zero Hedge are now against fractional reserve banking? Are you people fuckin nuts?

Free market philosophy has now degraded back to a barter economy... This is too rich.