Ron Paul Blasts "After 100 Years Of Failure, It's Time To End The Fed"

Tyler Durden's picture

Submitted by Ron Paul via The Free Foundation blog,

This week the Federal Reserve System will celebrate the 100th anniversary of its founding. Resulting from secret negotiations between bankers and politicians at Jekyll Island, the Fed’s creation established a banking cartel and a board of government overseers that has grown ever stronger through the years. One would think this anniversary would elicit some sort of public recognition of the Fed’s growth from a quasi-agent of the Treasury Department intended to provide an elastic currency, to a de facto independent institution that has taken complete control of the economy through its central monetary planning. But just like the Fed’s creation, its 100th anniversary may come and go with only a few passing mentions.

Like many other horrible and unconstitutional pieces of legislation, the bill which created the Fed, the Federal Reserve Act, was passed under great pressure on December 23, 1913, in the waning moments before Congress recessed for Christmas with many Members already absent from those final votes. This underhanded method of pressuring Congress with such a deadline to pass the Federal Reserve Act would provide a foreshadowing of the Fed’s insidious effects on the US economy—with actions performed without transparency.

Ostensibly formed with the goal of preventing financial crises such as the Panic of 1907, the Fed has become increasingly powerful over the years. Rather than preventing financial crises, however, the Fed has constantly caused new ones. Barely a few years after its inception, the Fed’s inflationary monetary policy to help fund World War I led to the Depression of 1920. After the economy bounced back from that episode, a further injection of easy money and credit by the Fed led to the Roaring Twenties and to the Great Depression, the worst economic crisis in American history.

But even though the Fed continued to make the same mistakes over and over again, no one in Washington ever questioned the wisdom of having a central bank. Instead, after each episode the Fed was given more and more power over the economy. Even though the Fed had brought about the stagflation of the 1970s, Congress decided to formally task the Federal Reserve in 1978 with maintaining full employment and stable prices, combined with constantly adding horrendously harmful regulations. Talk about putting the inmates in charge of the asylum!

Now we are reaping the noxious effects of a century of loose monetary policy, as our economy remains mired in mediocrity and utterly dependent on a stream of easy money from the central bank. A century ago, politicians failed to understand that the financial panics of the 19th century were caused by collusion between government and the banking sector. The government’s growing monopoly on money creation, high barriers to entry into banking to protect politically favored incumbents, and favored treatment for government debt combined to create a rickety, panic-prone banking system. Had legislators known then what we know now, we could hope that they never would have established the Federal Reserve System.

Today, however, we do know better. We know that the Federal Reserve continues to strengthen the collusion between banks and politicians. We know that the Fed’s inflationary monetary policy continues to reap profits for Wall Street while impoverishing Main Street. And we know that the current monetary regime is teetering on a precipice. One hundred years is long enough. End the Fed.

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LawsofPhysics's picture

Yes, yes, time for another age of robber barons, bring it.

Say it with me, "I remain long sharecropping, physical assets, and a dependable tribe."

The Juggernaut's picture

If there is a Revolution in the USA I hope Ron Paul leads it... I think he already has.

MonsterBox's picture

yeah, right.  that's like the Sheep asking the Farmer to warm his hands before shearing their wool off, just before the Blizzard.

SafelyGraze's picture

end the fed?

but then would would we do?

who would ensure price stability and employment?

who would buy bonds?

who would by mbs?

who would be the lender of last resort?

who would issue debt that could then circulate at near-zero velocity in payment of goods and services?

and who would cover 2+ trillion of unaudited pentagon spending and trillions of derivatives?

unless you have an answer to these important questions, don't even *consider* ending the fed


BoNeSxxx's picture

End the FED... AND stick them with the debt they printed from nothing.

Because, as we all know, each citizen (and their labor) is put down as collateral for all debt incurred by the government... lest we forget that nugget.


p.s.  I think Safely Graze forgot his sarc tag... at least I hope he did :-)

Divided States of America's picture

I hate saying this but I dont see anything that will end the Fed until one day we wake up and one of the head of the Federal Reserve Banks, Chucky Evans would make a good candidate...gets beat up in an alleyway in the Windy City...I think this will knock some sense into him and the other clowns...and hopefully one after another, these fuckin deceitful assholes will step down from their posts across the country because its not worthwhile anymore to keep fucking the sheeples...on a risk rewards basis.

LawsofPhysics's picture

It will never "officially" end, the Fed (and dollar) will simply become "irrelevant". 

Exponential equations and evolution are a bitch and honestly, the laws of Nature and physics really don't give a shit, they are what they are.

What?  too cynical for a Friday?

Anusocracy's picture

A vote for government is a vote for a Banana Republic.

Papasmurf's picture

24 pc chicken McNuggets®, Jumbo fries, 42oz Pepsi and 2 apple turnovers. 

Tsukato's picture

Fuck you and your son Ron Paul. You are nothing but manufactured dissent. Ending the Fed is pissing in the wind. The only thing that's gonna bring any change is a massive blood letting. And that should include you and your sack of shit kid.

Tsukato's picture

Yeah grandpa, all problems of the republic lie at the feet of the Fed. Not career politicians (by the way, how long did you sponge off the taxpayer teet?), PACs, the military, the parasitical tribe we're not allowed to mention by name here at the "Fight Club" (what a fucking joke), etc! Now fuck all of you and your red arrows. You know I'm right, but it's so much more comfortable to support an impotent old man and his folksy wisdom.

asteroids's picture

Amerika and the West is morally corrupt. The FED printing up payola and giving it to politicians that gladly send the bill to their unborn grandkids.

pavman's picture

I disagree.


They're sending the bill to YOUR unborn grandkids, not theirs.  Their grandkids will be fine... esp. with all the ill-gotten gaisn they take before leaving office.

Nostradumbass's picture

Nowadays people need to see /sarc to even comprehend and recognize sarcasm?

C'mon people, take a little thought and read more carefully.


Hey, Safely - i got one more owl question to add to your list of concerns.

Who gives a fuck ?

Let the Fed, the banksters, lawyers, and politicians take their instruments of slavery to hell with them.

Let 'em all burn in their paper " paradise " 

Au_Ag_CuPbCu's picture

Not sure about the down votes Safely...I may be wrong but I sense quite a bit of sarcasm in your post.  *shrug*

BLOTTO's picture

The beast is further up the creek... we are just dealing with the tentacles...


An Ode to Limerick King,


We need to sever the beasts head...

Or they just re-create another type of Fed...

So, if we dont act now,

We will always be a cow,

And get milked until we are fuckin dead.




THIS TIME IT MAY JUST HAPPEN!  The Fed charter is up and their ponzi  is coming to an end...just waiting for the final "sting". So look for them to repackage themselves in a new ponzi, probably NWO real soon. The FEDERAL RESERVE won't be part of the repackage job. This BS ponzi will be global CB style for enslavement of entire planet under single currency. Would not be surprised if it's a crypto-currency.......just warnin'.

BLOTTO's picture

In other words, Nothing New Under the Sun, History is repeating itself.


That is why im implying that in order to succeed, we need to not only end the Fed - but eliminate TPTB - and replace with legit one. Or better yet - eliminate TPTB 1st and then everything else topples over. But who to trust...who to really believe in?

Otherwise its the same shit, over and over and over again. Or should we try voting just one last time?


Good Luck to Us.

KnightTakesKing's picture

We've had 100 years of the Fed
And America's ledger is red
If you think that is funny
Hand over your money
Our Republic is certainly dead.

Anusocracy's picture

I hope he runs in 2016 instead of his doofy son.

prains's picture

Saying "End the Fed" is like saying "End the Oligarchs".....when's the last time that happened in human civilization? Only around the spilling of massive amounts of blood does the Oligarch hide, only to reappear time after time after time

mick_richfield's picture

This is the dawning of the Age of Aquarius.

prains's picture

....well we need its fucking turtle head to push a little harder, enuff with the dawning lets get busy

RSloane's picture

We can't end the Fed! [panic voice]

Our entire economy is made up of inflating bubbles then bursting them. By definition, we would have no economy at all without the Fed.

Winston Churchill's picture

The FedRes is like some huge malignant growth.You cannot even make out the features of the host anymore,

let alone remove it without killing that  host.

Fucked if we do,fucked if we don't.



LibertarianMenace's picture

If we're already hosed, and I agree that we are, then let's do it. The trouble is, real assets with a legal title won't vaporise along with the FedRes that was used to steal them. Hence new boss same as the old boss, they'll just re-denominate in whatever comes next.

El Vaquero's picture

LOP, I saw that you posted and then started daydreaming about building a guillotine.  You have that effect on people. 

LawsofPhysics's picture

Yes, for better or for worse I guess.

rubiconsolutions's picture

Yes, I agree, end the Fed. But...also that other atrocity of 1913, the 16th amendment which codified theft and economic slavery. 1913 must be undone by repealing both the Federal Reserve Act and the 16th amendment.

El Vaquero's picture

And banning property taxes while you're at it.  And banning deficit spending by state entities. 

FightingtheFed's picture

It's all I can do to watch these WallStreet maggots sit around gorging themselves day after day at the Fed trough while working people have harder and harder time making ends meet..


Starting to really understand the cotempt in Germany back in the 20s and 30s that boiled over...


There's not a hell hot enough for these maggots!  Startign with Jim Cramer. The Biggest shyster in the Modern era.

Rafferty's picture

You mention Jim Cramer and I agree. Just checked his wiki....and have to ask myself, at the risk of a midnight knock on my door, is there ANYBODY not of the Tribe in those vulture positions?

Ignatius's picture

A 100 year crime, not a 100 year failure.


Crash N. Burn's picture

"A 100 year crime, not a 100 year failure."

Depends on your definition, works great for Wall Street. The Fed is:

"absorbing gigantic liabilities from Wall Street, in return for its gifts of trillions of “QE” dollars.

How “gigantic”? A glimpse at just one of the derivatives contracts amongst these fraud-factories is highly illuminating. This “glimpse” comes courtesy of a lawsuit between Citigroup and Morgan Stanley. Why did Citigroup have to sue Morgan Stanley in order to attempt to get payment on an ordinary derivatives contract?

Because while these Banksters love to make big bets (literally $trillions and $trillions every year); like any Crooked Casino operators, they hate making payments when they lose. In the case of the previous bet in question; even after liquidating Morgan Stanley’s “collateral” (which supposedly backed the bet), Morgan Stanley was legally obligated to make a 300:1 pay-out.

This equates to not simply a 100% loss for Morgan Stanley on its derivatives bet, but rather a 30,000% loss. Thus with respect to these fraudulent “asset purchases” by the Fed, each time Wall Street claims it is “selling $1 trillion in assets”, it could (theoretically) actually be unloading as much as $300 trillion in liabilities."

Federal Reserve Shooting Blanks

Not to worry, the Fed has your best interests at heart (sarcasm off).

yrad's picture

I wanna burn the whole, world, down...

CrashisOptimistic's picture

The 10 year yield is vomiting on the GDP number.  They don't believe it.

A Lunatic's picture

What really needs to happen is end the fucking end the FED charade. Either end it or stop talking about ending it FFS.

dick cheneys ghost's picture

yes..End it.....

but I want a full accounting first.......

who owns it, who started it and how much wealth was stolen from the American people. I want a full accounting of EVERY so called "loan" made going back to 1913. All interest payments will be returned to the American people and all banksters will undergo waterboarding/torture until their last days............nothing less/nothing more


LawsofPhysics's picture

Great point, but fairly easy to answer.  look no further than those who travel with professional security and own islands...

I know of two.

supermaxedout's picture

After having returned everything of what they stole the banksters and their willing helpers will be send to hard labor camps. Isnt't it ? Sounds somehow familiar to me.

B.J. Worthy's picture

That no one can even muster token resistence to Ol' Yellen's nomination does not bode well for ending the Fed.

Racer's picture

"Congress decided to formally task the Federal Reserve in 1978 with maintaining full employment and stable prices"

there's the key word there.... STABLE


Seer's picture

Well, duh!  You cannot maintain ANY state, and especially a stable one! ("stable" is but a transition point between "expansion" and "contraction")

I'd have to say that the U.S. military has been far more active in stabilizing prices, especially energy.

Everntually it all succumbs to entrophy...

LawsofPhysics's picture

price?  What are you pricing in?  fiat? gold? clam shells?

Epic fail indeed.  Basically, 1978 is when the CONgress submitted and gave all control to the bankers.