• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Ron Paul: "Country Should Panic Over Fed's Decision"

Tyler Durden's picture




 

What took Ben Bernanke sixty minutes of mumbling about tools, word-twisting, and data-manipulating to kinda-sorta admit - that in fact he is lost; Ron Paul eloquently expresses in 25 seconds in this Bloomberg TV clip. Noting that "we are creating money out of thin air," Paul sums up Bernanke's position perfectly "We've Lost Control!"

 

25-second quick clip

 

Full 5 minute clip - must watch! from Mal-investment to Bernanke's frustration...


 

Paul’s reaction to more Federal Reserve stimulus:

“It should not surprise anybody, but it is still astounding. To me, it is so astounding that it does not collapse the markets. [Bernanke] said, ‘We are in very big trouble. We are going to do something unprecedented and we believe it will not hurt the dollar.’  And yet the stocks, they say ‘we love this stuff.’ But the dollar didn’t do so well today and the real value of the dollar is measured against gold, and gold skyrocketed from its very low to its highest. It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that Bernanke has not achieved and it frustrates him, I can tell—is he gets no economic growth. He doesn’t do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time.”

On potential unintended consequences:

“The biggest unintended consequence is what we need is a restoration of confidence. If the Fed is expressing a lack of confidence and they do not know what to do, it does not do anything to restore confidence. People might restrain from doing anything. ‘Interest rates are low. I do not have to buy my house this year. I will wait until next year. It might be a little easier. Prices might come down.’ So people are restrained and it is the opposite of when you expect that housing prices are going up, and you are afraid interest rates are going up. That is why the market rate of interest is so crucial. The rate of interest should give the businessman, the entrepreneurs, the investors and the savers information. But there is no market to interest rates. That is why there is such gross distortion and why we do not have a market economy. We have a rigged economy through central economic planning by central banking. The system is failing, it was doomed to fail and we have to wake up to that fact.”

On whether the Federal Reserve needs discipline:

“Short of getting rid of the Fed, which is not going to come and I wouldn’t do that overnight anyway, I would say that Congress has the authority to say, do not buy debt. Do not buy any debt. The Congress can yell and scream and pander to the people. They can say the deficits are terrible and terrible. But nobody wants to cut overseas spending or food stamps for the poor. They say, ‘we cannot do it without the Fed. The Fed has to buy this debt.’ That is a moral hazard for the politician. If the Fed couldn’t buy the debt, and interest rates would rise all of the sudden the burden would be on the Congress to get their house in order to restore confidence. Even that would panic a lot of people because live within your means? We do not like that. We like this idea that we can give people anything they want for free, so we can get reelected. Well, all of this is coming to an end.”

On whether Bernanke should be pulling back liquidity and raising interest rates right now instead:

Liquidity should be determined by the market. I don’t think he should raise rates. He should just get out of rigging rates. The system is so biased. It helps the bankers who get free money and then they buy government debt. What about the people who are frightened, they do not like the stock market and they are frugal and want to take care of themselves?  What do they get—1% on a CD? That is unfair. It’s bad economics. You want to let the market determine interest rates and let it sort it out. People get so nervous, because we have lived so long with a Keynesian economic model of fixing interest rates and intervening in the market.”

On whether Romney would do the right thing with the Federal Reserve if elected:

“So far, I have not heard that he would, but he has changed his mind before. If he gets to be president, we will keep our fingers crossed.”

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Thu, 09/13/2012 - 18:32 | 2792404 Temporalist
Temporalist's picture

No country for old patriots.

Thu, 09/13/2012 - 18:34 | 2792412 krispkritter
krispkritter's picture

I want no country were TPTB can run/hide and that includes Bubble Ben and the rest of this Administration as their lackeys...

Thu, 09/13/2012 - 18:35 | 2792419 Precious
Precious's picture

Don't you all feel a lot richer now?

Thu, 09/13/2012 - 18:40 | 2792435 Michael
Michael's picture

Ron Paul w/ Cavuto ~ We've Been Lulled Into This Belief That We Are Invincible

http://www.youtube.com/watch?feature=player_embedded&v=yeTyLdI1vQ4

Thu, 09/13/2012 - 18:52 | 2792488 Michael
Michael's picture

Detained in America...

“Am I being detained?” Powerful words.

I was on a Greyhound this morning after a 12 hour trip and was really looking forward to getting off the bus. As we pulled up to the terminal, my final destination, I saw a couple of uniformed figures headed toward the bus. The driver announced we should all keep our seats. One guy in some kind of security service uniform and a city cop climbed on and said that in an effort to curb drugs and money smuggling they wanted us to get off one by one, set down our carry-ons and step away while they let a dog sniff it. Then they asked if there any questions.

I was seated six or so rows back and I asked, “Are we were being detained?” No response at all. They started their little operation and, it was slow. When I finally reached the bottom of the steps I saw the guy in front of me had just put down his bags and was stepping well away as ordered. I stopped and held up my bags shoulder high and again asked, “Am I being d...etained?”

looked directly at the officers as I said it. Again no response. So I said, “Well I guess I'm free to go.” I stepped off the bus and noticed all the people who had alraedybeen sniffed were all standing there instead of going into the terminal. I stopped and said, “You know we don't have to put up with this right?” Then I went ahead and headed for the door.

A moment later I heard the local cop yell for me to come back. I saw him coming so I just stopped and let him appraoch. Then he tried a little escalation technique telling me to shut up or I'd be charged with disorderly conduct. Then he called me a “fucker” or something and stalks off.

I yelled after him, “Who's being disorderly now?” Then I went on about my business.

I hope everyone who witnessed the event learned something. If you don't exercise your freedoms, you don't have any freedom.

http://www.dailypaul.com/254589/detained-in-america

Thu, 09/13/2012 - 18:56 | 2792503 fourchan
fourchan's picture

paul should run for president, id vote for him.

Thu, 09/13/2012 - 19:09 | 2792565 Michael
Michael's picture
Rand vs. Reid: an 'Epic' Filibuster Floor Battle

http://www.dailypaul.com/254671/rand-vs-reid-an-epic-filibuster-floor-battle

Harry Reid Loses It on Rand Paul Epic Senate Battle

http://www.youtube.com/watch?v=Ld7kxq2ZVXw&feature=youtu.be

 

Thu, 09/13/2012 - 21:27 | 2793043 Ness.
Ness.'s picture

You gotta be fucking kidding me!?!  That was sickening to watch.

 

But... thank you.

Thu, 09/13/2012 - 21:45 | 2793098 FEDbuster
FEDbuster's picture

Jesse Ventura 2016 (he just announced on Alex Jones show today that he is considering a run for POTUS as an independent)

Fri, 09/14/2012 - 02:30 | 2793641 Things that go bump
Things that go bump's picture

Oh, dear, we had him here for governor.  Minnesotans have a history of sometimes electing people just to put the Democrates and Republicans in their place - kind of like cutting off our nose to spite our face.  Electing Jesse wasn't the first time we have elected someone completely inappropriate. I was so relieved I hadn't voted for him, because it was just mortifying.   He was completely unsuited to the task and spent most of his term fighting with the press, who couldn't resist goading him, just to see him go off (it was so easy they should have been ashamed of themselves).  He once actually said that he didn't have time to bleed.  He did return the state's rainy day fund to the taxpayers, as he promised.  We each got a few bucks, but a few years later, the state needed that money back and then some.  His wife didn't want to be our first lady, which was just as well, as she used to look like a biker chick (I think her rough edges have been smoothed out a bit since then).  Don't get me wrong, I actually liked her.  She is as real as they come and one of the best things about Jesse is the fact that he simply adores her.  They didn't want to live in the Governor's mansion, and so their teenaged son used it for unsupervised parties.  The staff tried to hush it up, but it got out anyway that he and his friends did a good bit of damage.  I imagine the taxpayers got to foot the bill.  

Fri, 09/14/2012 - 03:24 | 2793690 Michael
Michael's picture

Tony Blair Appointed Senior Advisor to JPMorgan Chase

Tony Blair Confronted At Leveson Inquiry

http://www.youtube.com/watch?v=hmKHUjYDqCI&feature=relmfu


If you thought Luke Ridowski was bold...

http://www.dailypaul.com/254732/if-you-thought-luke-ridowski-was-bold

Thu, 09/13/2012 - 19:19 | 2792606 Overfed
Overfed's picture

So would I.

Thu, 09/13/2012 - 20:14 | 2792805 CrockettAlmanac.com
CrockettAlmanac.com's picture

I did. Twice.

Thu, 09/13/2012 - 20:03 | 2792771 Element
Element's picture

But ... but ... it's only half a trillion dollars a year ... an algo's gotta eat 2!

Thu, 09/13/2012 - 20:23 | 2792847 johnQpublic
johnQpublic's picture

12 months times 85 billion a month is 1 trillion 20 billion a year

Thu, 09/13/2012 - 23:58 | 2793472 dbomb12
dbomb12's picture

The problem with Ron is he makes too much sense. We now live in a world that instead of having common sense as most people on this post they have no sense at all. So in this bizarro world it should now be called uncommon sense

Fri, 09/14/2012 - 03:59 | 2793723 AldousHuxley
AldousHuxley's picture

you seem to have above average smarts to figure this out.

 

but world is full of averages and half are below average fucktards....some have lots of money.

 

 

Thu, 09/13/2012 - 21:09 | 2792987 Pants McPants
Pants McPants's picture

Why stop and say something stupid like "you know I don't have to put up with this, right?"

You're asking for it. It takes a particularly sick individual to want to be a cop these days, and almost every one of them gets off on provocative shit like that.

Better to not say anything unless asked. Assert your rights, absolutely, but don't give them an inch because they'll take a mile...and your life if you cross the wrong one.

You can be macho without being an asshole. Know your audience.

Thu, 09/13/2012 - 23:18 | 2793393 Donnie Duvanie
Donnie Duvanie's picture

If everyone followed your advice, we wouldn't have any rights, at all.

Fri, 09/14/2012 - 02:27 | 2793644 Ar-Pharazôn
Ar-Pharazôn's picture

"Better to not say anything unless asked. Assert your rights"

 

do you understand what does this mean?

 

the guy is totally right, this kind of behaviour will lead you to  bad things

Fri, 09/14/2012 - 02:27 | 2793645 Bananamerican
Bananamerican's picture

I don't know who you are Pants McP...
But you disgust me..... Asshole

Sat, 09/15/2012 - 03:16 | 2798165 jbvtme
jbvtme's picture

great call.  great post. 

Thu, 09/13/2012 - 18:35 | 2792413 fuu
fuu's picture

Thanks Dr. Paul!

Thu, 09/13/2012 - 19:51 | 2792721 Vet4RonPaul
Vet4RonPaul's picture

Instead of 'RIP' I'm putting 'RP' on my tombstone.  and maybe 'Fuck the Fed' below that.

Thu, 09/13/2012 - 20:22 | 2792842 fuu
fuu's picture

Mine is going to say, "Finally, nothing left to lose."

Thu, 09/13/2012 - 21:27 | 2793041 ZeroAvatar
ZeroAvatar's picture

Mine will read, "For Sale By Ower".

Fri, 09/14/2012 - 11:46 | 2795209 BigJim
BigJim's picture

I like Spike Miliigan's the best:

"See? I told you I was ill!" 

Fri, 09/14/2012 - 02:14 | 2793630 HaroldWang
HaroldWang's picture

Get over it, already! This will not destroy the country. Open you eyes. Bernanke did what every country, together, is doing. Yes, create money out of thin air. So what?! Why is this so bad?? It puts everyone on a level playing field. Every country does the same. Crisis averted.

I really don't get how naive people are to think this hasn't been going on for decades. And guess what? Yep, we're still here and doing well. It's the same story, different decades. Not that hard to figure out.

Fri, 09/14/2012 - 02:57 | 2793671 Popo
Popo's picture

Ok let's carry that logic out a little further.

Every country in the world prints money to buy debt. Unemployment continues to rise everywhere. The international banking cartel, and it's branches in every country become stronger and stronger and exert more and more government control.

Social inequality continues to increase everywhere simultaneously until we have a global 2 class system with a small intelligentsia.

If you think for one second that the next step in this sequence isn't the biggest, ugliest war in history -- you're historically ignorant and deserve to be the first piece of cannon-fodder.

We know exactly where this leads, and you're either okay with it or you're not.

Fri, 09/14/2012 - 06:20 | 2793784 Peterus
Peterus's picture

Even footing? This is the propaganda they feed you.

Debasing the currency is far from "even". When purchasing powers of dollars go down, assets prices counted in this currency rise. If you have a lots of assets - villas, cars, yachts and yes some stocks and gold - you're not hurt by this very much. If your income is most of what you have and everything costs more ... you will not like "even footing" that it gives you. And this is only one, most straightforward effect of inflation. Destroying currency that people use to get their food and everything else, even if made gradually - will mean harship and pain. If entire World will do it - it just means pain for entire World.

Fri, 09/14/2012 - 07:54 | 2793916 MsCreant
MsCreant's picture

Harold Wang = Harry Wanger

If you want to troll like this and not be seen doing it, ya gotta be more subtle.

I think you want to be seen doing it.

I see you. Good material.

Harry Richards next?

Thu, 09/13/2012 - 19:57 | 2792746 Silver Bug
Silver Bug's picture

Ron Paul is a true patriot. He was the last chance for politics. Now you better have your gold and silver held tight.

 

Banzai7 Visual Combat Art

Thu, 09/13/2012 - 21:03 | 2792970 PeterSchump
PeterSchump's picture

I'm glad they had Clint speak at the convention instead of Ron Paul. It provided the rest of the delegates still allowed to attend a speech they could understand and identify with.

Fri, 09/14/2012 - 02:29 | 2793646 Ar-Pharazôn
Ar-Pharazôn's picture

And that's exactly why he's not becoming president........................

Thu, 09/13/2012 - 20:14 | 2792804 samcontrol
samcontrol's picture

Fuck me , i post he is kicking it on Bloomberg , and you post the video.

Thanks Tyler for the compliment.

Thu, 09/13/2012 - 18:33 | 2792406 mjorden
mjorden's picture

Better get the cheap Chinese-Made Survivalist gear from Wal-Mart asap before they (The Chinese) drop the Peg and give our little present (inflation) back to us.

Seriously people.  Get some shit to last at least a year and make plans for fresh food/water.

Thu, 09/13/2012 - 19:21 | 2792617 1100-TACTICAL-12
1100-TACTICAL-12's picture

Preach to the choir much ?

Thu, 09/13/2012 - 19:47 | 2792703 mjorden
mjorden's picture

Preach to the Preacher preaching the choir much?

Fri, 09/14/2012 - 07:57 | 2793918 MsCreant
MsCreant's picture

It does need to be said. It is insurance that we should have always had. Supply chains break for all kinds of reasons both at the individual and systemic levels.

Peace brother man.

Fri, 09/14/2012 - 11:51 | 2795226 BigJim
BigJim's picture

 Better get the cheap Chinese-Made Survivalist gear from Wal-Mart asap ... Get some shit to last at least a year ...

You've got to be kidding. Nothing made in China that I've ever bought lasts a month, let alone a year. 

Thu, 09/13/2012 - 18:35 | 2792415 Nick the Greek
Nick the Greek's picture

Silver stackers are justified today. SLV popped. Wish I had more of it.

Thu, 09/13/2012 - 18:45 | 2792458 Bendromeda Strain
Bendromeda Strain's picture

SLV is the anti-stack...

Thu, 09/13/2012 - 20:16 | 2792811 samcontrol
samcontrol's picture

PSLV is A stack ...if you have enough of it .

Thu, 09/13/2012 - 20:20 | 2792832 samcontrol
samcontrol's picture

PSLV is A stack ...if you have enough of it .

Thu, 09/13/2012 - 18:37 | 2792425 roadsnbridges
roadsnbridges's picture

Too late.  I've already paniced.

Thu, 09/13/2012 - 18:39 | 2792433 Bunga Bunga
Bunga Bunga's picture

Get over it, Wall St needs Obummer. Romney/Ryan want cut government deficit (deflationary) and even flirt with a gold standard (barbaric). Absolute NOGO for Wall St. Obummer is it!

Thu, 09/13/2012 - 18:56 | 2792506 GFKjunior
GFKjunior's picture

I don't know what you're smoking if you think Romney is going to cut anything or even entertain the idea of the gold standard but please share.

Thu, 09/13/2012 - 19:21 | 2792614 Bunga Bunga
Bunga Bunga's picture

Did I dream that? You can read?

“The best way to guarantee sound money is to use an explicit, market-based price guide, such as a basket of commodities, in setting monetary policy”

~Paul Ryan

http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/24/the-gop-has...

 

That is even worse than a peg to gold only.

 

"As President, Mitt Romney will cut federal spending and bring much-needed reforms to entitlement programs. Mitt will work toward balancing the budget, reducing the size and reach of the federal government, and returning power to states and the people."

http://www.mittromney.com/issues/fiscal-responsibility

 

Thu, 09/13/2012 - 19:26 | 2792633 CH1
CH1's picture

LOL... you believe that bullshit??

You're kidding, right?

Thu, 09/13/2012 - 19:35 | 2792663 Bunga Bunga
Bunga Bunga's picture

This is what they have said.

Obama is saying things too.

But it was said. Period.

 

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