Libertarian Wall Street Protesters Demand End to the Fed

George Washington's picture


061011feature4 Libertarian Wall Street Protesters Demand End to the Fed

Libertarians Support Wall Street Protest to End the Fed


Ron Paul says that the Wall Street protests are legitimate, and that they are really protesting against the Federal Reserve.

One of the protest organizers tells me that a large proportion of the protesters are Ron Paul supporters. Most of them believe that ending the Federal Reserve is the most important step to restore our country’s prosperity. See this and this.

Remember, even the Wall Street Journal has called for the Fed to be broken up.

As I have extensively documented, the Fed is largely responsible for the economic crisis, and has failed to meet a single one of its stated mandates (let alone its implied ones).

The Fed has been enabler-in-chief for the corruption rampant on Wall Street.

And as I noted Tuesday:

Some very well-known economists also support ending the Fed.

For example, Milton Friedman said:


This evidence persuades me that at least a third of the price rise during and just after World War I is attributable to the establishment of the Federal Reserve System… and that the severity of each of the major contractions — 1920-1, 1929-33 and 1937-8 is directly attributable to acts of commission and omission by the Reserve authorities…


Any system which gives so much power and so much discretion to a few men, [so] that mistakes — excusable or not — can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic — this is the key political argument against an independent central bank…


To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.

Austrian economists such as Murray Rothbard also would like to end the Fed:

Given this dismal monetary and banking situation, given a 39:1 pyramiding of checkable deposits and currency on top of gold, given a Fed unchecked and out of control, given a world of fiat moneys, how can we possibly return to a sound noninflationary market money? The objectives, after the discussion in this work, should be clear: (a) to return to a gold standard, a commodity standard unhampered by government intervention; (b) to abolish the Federal Reserve System and return to a system of free and competitive banking; (c) to separate the government from money; and (d) either to enforce 100 percent reserve banking on the commercial banks, or at least to arrive at a system where any bank, at the slightest hint of nonpayment of its demand liabilities, is forced quickly into bankruptcy and liquidation. While the outlawing of fractional reserve as fraud would be preferable if it could be enforced, the problems of enforcement, especially where banks can continually innovate in forms of credit, make free banking an attractive alternative.

Congressmen Ron Paul and Dennis Kucinich have introduced bills to abolish the Fed.

And as I noted last week, most Americans want the Fed ended or at least reined in:


At least 75% of the American people want a full audit of the Fed, and most were against reconfirming Bernanke.


Indeed, as Bloomberg noted last December:

A majority of Americans are dissatisfied with the nation’s independent central bank, saying the U.S. Federal Reserve should either be brought under tighter political control or abolished outright, a poll shows.






Americans across the political spectrum say the Fed shouldn’t retain its current structure of independence. Asked if the central bank should be more accountable to Congress, left independent or abolished entirely, 39 percent said it should be held more accountable and 16 percent that it should be abolished. Only 37 percent favor the status quo.


As I have extensively documented, the Fed is largely responsible for the economic crisis, and has failed to meet a single one of its stated mandates (let alone its implied ones).


Indeed, the Founding Fathers despised the British central bank, and said that the right to create their own credit and currency was one of the core battles in the Revolutionary War.

Obama Is Not the Answer

Libertarians also point out that – while the Obama campaign and Democratic National Committee are trying to hijack the Wall Street protests – they have been part of the problem, not part of the solution.

They point out that Obama has appointed Wall Street insiders to all of his key economic posts, and accepted more money from Goldman Sachs and the other big Wall Street banks than anyone else (and is still raking it in). As such, despite his populist rhetoric, he’s with Wall Street, not the protesters. Indeed, he is Wall Street.

They point out that Obama has continued the process of turning the U.S. into a banana republic, and whether you call it communism, fascism or crony capitalism, Obama has been at least as bad as Bush.

They point out that Obama has been a wolf in sheep’s clothing, someone who thinks high levels of unemployment are good.

They point out that Obama has been more brutal than Bush and has destroyed our liberties even faster than Bush.

For these reasons, libertarians correctly state that re-electing Obama is not the answer. And they note that Ron Paul’s consistent, decades-long positions are much closer to the American peoples’ demands than Obama’s.

Postscript: Anyone who still thinks Obama will save us is high.

On the other hand, libertarians have been out of power for a long time. Neoliberals and Neoconservatives – two masks on a single face of corruption – have been in the driver’s seat for decades. Libertarians should welcome the protests as a chance to challenge the status quo, to promote liberty and to end the Fed – the chief enabler of corruption in our country today.

Folks dismissing the Occupy protests as being Obama propaganda or left-wing haven’t yet learned the facts, are blaming the fact that the mainstream Democratic party is trying to infiltrate the movement on the protesters, or are letting Fox, Drudge or other mainstream news sources blow a sub-set of the overall protests out of proportion. See this, this and this.   Indeed, as the Associated Press notes, the protesters are fed up with BOTH mainstream parties.

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haibop's picture

things really get unclear. junk car for cash

overthehill's picture

The US government is a Top-Down organization, and the top is the CFR (58 E. 68th St. at Park Ave.) that's where the protest should be concentrated. Until these people are removed, and banned from government nothing will or can change!

Zedge Hero's picture

And they wonder why we Occupy America?

Updated news about the protest

Bob's picture

Nice work, Zedge Hero!

dcb's picture

the elites of both parties realize that there entire future depends on keeping the majority who are fed up with the same things apart. So the left has to paint the tea party people as racist, etc. and the right has to paint the occupy wall street people as hippies, unwashed, commies. I have a few libera; friends, and they won't even listen to things about the tea party and the left that are in common. when I point out Paul's three things (foreign wars, fed, corporate welfare ) thy agree, but they won't support a right wing nut. this is the pattrn each side uses to alienate the other to keep the status quo

AnAnonymous's picture

Ummmm, no. The US citizen nature is such that it includes duplicity.

Agreement on foreign wars, fed, corporate welfare is just the mask your friends wear to hide their underlying motives.

This is why they can not associate with other US citizens sporting the same mask.

Everyone there knows it is a mask and that covered motives one from another are deeply different and often opposite.

Duplicity is a key in US citizenism.

US citizens do not oppose tyranny, they oppose being tyrannized. Most of them will wear the mask of opposing the tyranny in order to ensure they are the tyrant.

And tyranny is a zero sum game: you are either the tyrant or the tyranized.

That is why US citizens can associate themselves on false grounds as each of them wants to be the tyrant of the others.

Can not work.

Bob's picture

And your prescrition for what ails us and, by our extension, the rest of the world is . . . ?

Or are you just the voice of righteous hatred?

Sathington Willougby's picture

Obama's letter to Santa Claus, looks like Marx still pukes on paper by proxy:



Occupy Wall Street has issued the following list of demands to President Obama: 

Demand one: Restoration of the living wage. This demand can only be met by ending "Free trade" by re-imposing trade tariffs on all imported goods entering the American market to level the playing field for domestic family farming and domestic manufacturing as most nations that are dumping cheap products onto the American market have radical wage and environmental regulation advantages. Another policy that must be instituted is raise the minimum wage to twenty dollars an hr.

Demand two: Institute a universal single payer healthcare system. To do this all private insurers must be banned from the healthcare market as their only effect on the health of patients is to take money away from doctors, nurses and hospitals preventing them from doing their jobs and hand that money to wall st. investors.

Demand three: Guaranteed living wage income regardless of employment.

Demand four: Free college education.

Demand five: Begin a fast track process to bring the fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.

Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.

Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.

Demand eight: Racial and gender equal rights amendment.

Demand nine: Open borders migration. anyone can travel anywhere to work and live.

Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.

Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.

Demand twelve: Outlaw all credit reporting agencies.

Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.


CH1's picture

As I understand there is no "Occupy Wall Street" organization/voice to send any set of demands.

rambler6421's picture

We need more ppl to protest the FED.


windcatcher's picture

Secrets, lies, bankster fraud, gun running (war on terror) unjustified wars (military industrial complex) and drug dealing (war on drugs to keep it illegal. Hillary Clinton: “there is just too much money involved”) are the weapons of Evil elite criminals who rule beyond the grasp of the Law.


The financial crisis was created by design as well as the borrowed money for the five wars we are involved in. The agenda of the American Oligarchy, global Fascist really, continues forward with destroying American sovereignty and economy with American deindustrialization.


Even the most diligent researchers like GW and TD can only guess at the  amount that the American citizen really owes in debt to the global bankster cartel or of the true amount of the off sheet dealings of the bankster cartel owned Federal Reserve; that is all a secret—no doubt a “National Security Secret” Ha. Ha.


The Fascist (“Fascism should rightly be called Corporatism, as it is the merger of corporate and government power”. Benito Mussolini) are winning, it is amazing to see how much they have accomplished over the last 10 years with their mind numbing MSM brainwashing propaganda.


I do not trust the Libertarian Party; they are a wing of the Republican Party but an “enemy of my enemy is my friend” at this point.

death_to_fed_tyranny's picture

Max Out The Credit Cards and DON'T PAY! Problem Solved.

taxi952's picture

I it was that easy . Hahaha. Anyway thats the best ideea yet. Just kiding

cooking games for girls

Tater Salad's picture

Nope, Obama isn't the answer...I suppose it would be George Soros, the guy who bank rolled Obummer until Obummer failed Soros...Now spooky dude Soros needs a new puppet to advance his socialist/marxist agenda.  I guess Obummer found out the hard way that you can only buy so much of your electorate.

And of course the 5 libertarians on Wall Street protesting are doing a fine job.

Wakanda's picture

Good for GW to emphasize the Libertarian presence downtown at OWS.  MSM will do it's best to denigrate the protesters as clueless hippies.  It won't work because the sheeple don't trust the messenger.  They may watch CNABCS out of habit, but the act of thinking for oneself is still a little scary.

There are passionate, articulate, creative, libertarians on the streets that are being heard for the first time.  Can you imagine some of the conversations between ex Obamites and Ron Paul style libertarians?  Thousands are just learning about the blatant injustices of the Fed, the TBTFs, the Treasury.  Of course these kids look confused, they are just waking up!  Cut them some slack.  I too look confused when I get vertical each morning.

The torch of Liberty, just across the Hudson, is lighting hearts and minds of the OWSers in Liberty Square like a wildfire in tinder dry underbrush.  This country is ripe for a Revolution.  Let's get it on.

10 days until Black Monday II

ISEEIT's picture

Trying this as well to provide other links.

The train indeed has left the station. October 15th may be a day for the books. Communist (& ex-Green Czar)Van Jones is at the helm through MoveOn, Rebuild the American Dream, Center for American Progress and the worst of all the Kasama Project.

Global mass protests 15th October 2011

Click to view link

Click to view link

Click to view link

Kasama Project reading material: Click to view link

Maybe GW can check these out for us?

monoloco's picture

The Democratic party will try to co-opt this movement, just like the GOP did to the Tea Party.

The best way to deal with a threat is to own it.

ISEEIT's picture

Few seem to understand that elements of the democratic party initiated this movement. This is being orchestrated and that fact will likely become more apparent over time. The 'progressive' movement is global and the loss of obama would be an enormous blow to their plans. Sure, he hasn't been fully successful in achieving the mandate assigned to him, however the threat is that the 2012 election could turn to be a massive sweep that shuts down any hope of achieving the first most critical goal for the global left, which is to tax us for the air we breath via carbon control (climate change). The alarmist climate change agenda is a key objective in achieving one world government.

Just my opinion but an opinion based on tying together an enormous amount of information gleaned over the years.

Tater Salad's picture

+1000 ISEIT

Keep up the good work, yes, you are paying attention and the lunatics (Jones, Sunstein, Trumpka) have taken over the nut house...and now someone put a camera on them!

midtowng's picture

But Fox News told me that these are "bad" protestors that I should hate, and they wouldn't lie to me. Would they?

I'm so confused.

mayhem_korner's picture

There are passionate, articulate, creative, libertarians on the streets that are being heard for the first time.


Disagree that they are being heard.  They are mixed in and drowned out by the rest of the so-called "99%" that are clamoring a disunified set of messages.  Joining the band is not going to get folks discredited more than heard.

Wakanda's picture

The libertarians are consistently the clearest, the most focused, and most articulate in most of the clips I see.  They will eventually drive the agendas with that clarity.  This takes time and is confusing, but revolutions are messy.  New ideas and new ways of thinking are at first uncomfortable.  People often take time to learn to listen and trust each other.  A lot of that learning and trust is happening in the streets now.

So called 99%?  Are you a member of the richest 1%?  I'm not.  The great thing about the 99%-1% tag is that it's immune to political divisiveness and stupid arguments.  You are either screwing (1%) or getting screwed. That is easy to understand, and thus it is a great way to create an environment of cooperation.  We (the 99%) know we're being screwed.  We also know we have to try something different to achieve different results.

Tater Salad's picture


"You are either screwing (1%) or getting screwed. That is easy to understand, and thus it is a great way to create an environment of cooperation.  We (the 99%) know we're being screwed.  We also know we have to try something different to achieve different results."

So because someone worked their ass off to get to their position in life, they should be villanized?  REally???  Isn't that part of what makes the U.S. such a great country...isn't that why we go to college in the first place, to get an education in a line of work that hopefully will earn us a nice standard of living?  Shouldn't we be celebrating our system, that doesn't pigeon hole you into a career like Germany or some other country when you're in high school.

I own two businesses, both of which I started from zero and have sold two businesses, all before the age of 40.  To villanize me for having an unparalleled work ethic, being creative and understanding sound business principles is beyond idiotic.

My parents always taught me to be self reliant and never to rely on the "system", government or anyone but me to try to get somewhere, and I come from a very poor family!  If I was able to break away from the chains of the lower class, anyone can and never once was I jealous or envious of the upper 5-1% of the wealth in the country.


mayhem_korner's picture



Bravo Tater.  My story is similar, but the "labelers" don't want to hear that.  For them it's about unproductive whining.  The only thing the "99%" believes they have in common is that they are not part of the other 1%.  And thus the common denominator is about fixing income inequality.  They are unable to assimilate further because the differences are acute through the next layers of the onion.

Wakanda's picture

If you made your fortune in a free and open market, good for you and good for me.  The wealth concentrated in the top 1% comes from favoritism, graft, theft, and manipulated markets.  The lack of justice, and the corruption of free and open markets is the problem.  It's called tyranny and it won't stand.

Outlaw Of The Wasteland's picture

A good shotgun, a rifle, a pistol,  and plenty of home made napalm made from a mixture of gasoline and styrofoam under each and every Christmas tree this year.

And a map of every SINagogue, yeshiva and "jewish" neighborhood in the country.

So be it

Arkadaba's picture

Member fot 10 weeks - major troll alert!!!! i'll see what I can dig up.

atomicwasted's picture

Fuck this antisemite BS.  The Fed is the enemy and it has jack shit to do with the Jews.  Eat a dick, asshole.

Outlaw Of The Wasteland's picture

self styled "jews" aren't Semites.  Never were.  Never will be.

They are, rather, a sociopathic race cult of atheistic russians and slavs masquerading as a religion.

Hephasteus's picture

It's kind of funny watching you pretend to be a jew hater. Though I think you might be acting out a rabies victim more at this point.

bIlluminati's picture

Bankers of the world, unite!

You have nothing to lose but your heads.

nah's picture

Ron Paul is rite... the federal reserve is a quasi national organization that either accepts or encourages poor management of money... blame nixon all you want these guys are the ones putting the last nails in the coffin


the concept of global cartels regulating money has proven ideological at best... really these money cartel institutions are just eisier to game than congress


if your lucky and dont want accountability calling you to the floor

Outlaw Of The Wasteland's picture

Remotely detonated truckbombs packed with rusty nails should be the defensive weapon of choice to kill the communists' useful idiots.

The leaders picked off one by one by cells of 3 men.


Dr. Engali's picture

One can only hope that you are not serious and are just trying to stir up trouble. But if you are serious then I will pray for your soul because I'm pretty sure there will be a special place for you in hell.

By the way as the fed's programs scan watched sites I'm sure they will pick up words like "truck bombs".

Good luck

Bob's picture

Seems to me that if we see him again it will be reasonable evidence that he WORKS for the feds.  Surely they watch for this kind of shit.

Bananamerican's picture

lemmee had 5 minutes left to kill at the "Dunkin' Donuts" and said, "what the hell..."





Even your incredible ZH tolerance policy (which, as a TickerForum refugee, I 99.999% agree with)


strateshooter's picture

no nukeing...this is America.

Yes this guy is a complete and utter dick...but lets assume that we folks (on ZH at least)have the intelligence to decency to discern as such.

OK ?

Bob's picture

The main problem I see is that readers who aren't logged in don't see the vote counts and are therefor left to reasonably conclude that we regard such shit as a legitimate part of our community, since it's so heavily represented. 

DavidPierre's picture


Got to agree as a TBP refugee! Smokey(Jim)Quinn encourages these types of idiots on his blog.

You are known by the company you keep.

 This MoFo... InLaw with XXXL WaistBand... has stepped over way over the line more than once on this thread. 

TheTylers might not want ZH to desend into obscene beastitility and frothing at the mouth racist comments.




Hephasteus's picture

Ya. That's what zero hedge needs. Is protection from trolls. Cause the people who post here are all so stupid and defenseless.

Outlaw Of The Wasteland's picture

"there outta be a law"

"oy, such hatred"

"jewish" much?

Outlaw Of The Wasteland's picture

I'll take big mouth nigger van jones.

Who wants to kill michael moore?

Bicycle Repairman's picture

I think libertarians are correct to be wary of the non-libertarians in this movement.  At some point it will be necessary to struggle over the direction of this thing.