This page has been archived and commenting is disabled.

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.”

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
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.

 

Thu, 09/13/2012 - 19:50 | 2792715 GFKjunior
GFKjunior's picture

Yeah just like Obama SAID he would take the troops out of middle east or stop prosecuting medical marijuana dispenseries. Or how Bush SAID he would cut government but ran up trillion dollar deficits, kind of like "small government" Reagan SAID he wanted to cut government but spent more than Carter. Just like Carter SAID... well you get the idea, every politician says anything to get elected. 

 

 

I sleep with a different super model 3 times a week.

 

Do you believe me? I did say it.

 

 

Thu, 09/13/2012 - 19:56 | 2792739 malikai
malikai's picture

I take it you're going to hold him accountable when he does fuck-all what he says?

Thu, 09/13/2012 - 20:19 | 2792824 Bunga Bunga
Bunga Bunga's picture

Not me, but some might. So they better be careful what they are promising.

I don't believe in any of that shit, but that's not the point.

 

 

 

 

Thu, 09/13/2012 - 21:41 | 2793083 baltar
baltar's picture

"This bill offends my principles. But I’m going to vote for this bill in order to preserve my principles, in order to preserve this free enterprise system." - Paul Ryan speech in support of TARP.

http://www.youtube.com/watch?v=RyJBZYz858M&feature=youtu.be

Fri, 09/14/2012 - 01:06 | 2793555 salvadordaly
salvadordaly's picture

Hey Bunga,

My daughter is 9 and running for class president. She just read her speech for why they should elect her. It was really good! Honest and sincere, true to her character. I gave her one piece of advice, at the end of her speech, add to it, if you vote for me, I will bring you free cupcakes once I win! Guaranteed winner! I did not reveal to her why except that, who would not want a free cupcake at the age of nine. That is all that they would hear “free cupcake”! WINNING HANDS DOWN! NO CONTEST! In reality just tell them what they want to hear. Do you think that the class would not go on when she DOES NOT bring cupcakes? Everything would be forgotten by the end of the week. She would still retain the title of class president through the next year. Kinda reflects how elections, and politicians work. How old are you? Is this all new to you are what?

Oh, and might I ad. Before Romney had accepted the nomination the line was "REPEAL Obamacare" after the nomintion was accepted it was "REPEAL and REPLACE Obamacare" see how this stuff works?

Fri, 09/14/2012 - 08:10 | 2793941 KickIce
KickIce's picture

Nothing says "permanant" like a governmenr program.

Thu, 09/13/2012 - 19:31 | 2792650 GFKjunior
GFKjunior's picture

That proves it, Romney is our savior...

 

I almost fell out of my chair laughing when I saw the link to Romney's campaign site.

 

 

Thu, 09/13/2012 - 19:38 | 2792676 Bunga Bunga
Bunga Bunga's picture

You wanted a reference. That's even a primary source.

 

 

Thu, 09/13/2012 - 21:32 | 2793056 ZeroAvatar
ZeroAvatar's picture

If Obeyme gets re-elected, I'll never post another comment on a website again.

 

Whassat?  There's a knock at m

Thu, 09/13/2012 - 18:43 | 2792436 roadsnbridges
roadsnbridges's picture

PS,

Love the overlay of crap audio.  Can Sarah strap me to her leg?  Guess it was Trish, but same question.

Thu, 09/13/2012 - 18:42 | 2792440 Uchtdorf
Uchtdorf's picture

The Bernank just bought Obama 4 more years.

Thu, 09/13/2012 - 18:44 | 2792447 roadsnbridges
roadsnbridges's picture

Bet you a McWich.

Thu, 09/13/2012 - 19:52 | 2792723 ejmoosa
ejmoosa's picture

So you are saying that this easing is going to stimulate the economy and add jobs by November?

 

Not a chance in hell....

Thu, 09/13/2012 - 21:50 | 2793115 EvlTheCat
EvlTheCat's picture

Why do they have to add jobs?  As I recall the private sector had nothing to do with Obama being elected.  He just has to save jobs in his favorite voting demographics.  FED just gave him a blank check.

Thu, 09/13/2012 - 19:55 | 2792731 Vet4RonPaul
Vet4RonPaul's picture

Back in May, I called QE3 in September cuz of perfect timing; back to school distraction plus not just prior to election.  have been holding my positions waiting for it and now will sell

Thu, 09/13/2012 - 21:55 | 2793134 Bicycle Repairman
Bicycle Repairman's picture

The Romney nomination and the process by which the nomination was obtained guaranteed Obama another 4 years.  Should never have dissed Ron Paul.

Fri, 09/14/2012 - 05:21 | 2793764 malikai
malikai's picture

That was the death of the Republican party in my eyes. I'm still not sure it guaranteed Obama four more years because of the banks being behind Romney and all, but for sure, all those people who supported Paul got to witness the true nature of the Republican party that night. 

Thu, 09/13/2012 - 18:45 | 2792444 cougar_w
cougar_w's picture

I think most people are probably OK with creating money out of thin air. Actually I think they dream about shit like that.

I'm not sure what the message should be here. That the current economic policy is national suicide? Or, that we are being led by a Pied Piper into a monetary slaughthouse? Or, that giving the nation's wealth to the wealthy via purchases of their toxic loans and bonds at par is the most astounding act of theft ever commited by any class of people against another class in the entire history of the human race evar?

So yeah, it's tough.

But I could figure something out more compelling than they are creating money out of thin air. Shit sounds like a lottery. Everyone loves the lottery.

Thu, 09/13/2012 - 18:46 | 2792461 roadsnbridges
roadsnbridges's picture

I think you are ok no matter what.  Look at those teeth!

Thu, 09/13/2012 - 18:51 | 2792485 Temporalist
Temporalist's picture

I'd guess that when most of the dimwits buying the lastest doodads and hoohahs and catching their entertainment and hollywood news about princes and ducthesses and how they live on their yachts and in their cribs hear the phrase "creating money out of thin air" they immediately think "Ohh great I can't wait to get mine."

I didn't consider this before but perhaps Greenspan and Bernanke coined the phrase "Fake it till you make it!"

Thu, 09/13/2012 - 20:18 | 2792819 kaiserhoff
kaiserhoff's picture

Well said.  How about counterfeiting,  armed robbery of our savings and our futures,   treason. 

Some of that might resonate.

Thu, 09/13/2012 - 20:54 | 2792942 downrodeo
downrodeo's picture

its all friggin made up anyway. when you get down to it, being a human is about ideas. we've just been chasing after the wrong ones.

 

 

I'm becoming less defined as days go by
Fading away
And well you might say
I'm losing focus
Kinda drifting into the abstract in terms of how I see myself

Sometimes I think I can see right through myself [x2]
Sometimes I can see right through myself

Less concerned about fitting into the world
Your world that is
Cause it doesn't really matter anymore
(no it doesn't really matter anymore)
No it doesn't really matter anymore
None of this really matters anymore

Yes I am alone but then again I always was
As far back as I can tell
I think maybe it's because
Because you were never really real to begin with
I just made you up to hurt myself

[x2]
I just made you up to hurt myself, yeah
And I just made you up to hurt myself

And it worked.
Yes it did!

[Chorus:]
There is no you
There is only me
There is no you
There is only me
There is no fucking you
There is only me
There is no fucking you
There is only me

Only [x4]

Well the tiniest little dot caught my eye and it turned out to be a scab
And I had this funny feeling like I just knew it's something bad
I just couldn't leave it alone, I kept picking at the scab
It was a doorway trying to seal itself shut
But I climbed through

Now I am somewhere I am not supposed to be, and I can see things I know I really shouldn't see
And now I know why, now, now, now I know why
Things aren't as pretty
On the inside

[Chorus]

Only [x8]

Fri, 09/14/2012 - 02:14 | 2793632 Burnbright
Burnbright's picture

Seriously cougar you need to stop, I am going to die laughing at your commentary. You have been on fire lately.

Thu, 09/13/2012 - 18:48 | 2792448 newengland
newengland's picture

I'm looking forward to 1776 again, even if it is only gold telling Wall St and Washington that their tyranny will end.

Ron Paul talks sense and the Constitution. Two-faced modern politicians are sophists, overpaid money takers, not money makers, nor do they give their all to community, the poor whose value ought to be counted in the love and time they give for community.

The poor soldier, the poor volunteer, for example.

Instead, this Republic is abused by money grubbing two-faced wannabe monarchists; the lil princes and princelings, the socialists, and crypto communists.

Stop it.

Thu, 09/13/2012 - 18:45 | 2792454 Atlantis Consigliore
Atlantis Consigliore's picture

Japanation: I ll wait 20 years.  to buy business, and hire,  Nope:  trust it all, and its all failing,  give it all to kids.

watch the kiddie throw out counterfeit....http://i.imgur.com/XaiUx.gif

Thu, 09/13/2012 - 18:48 | 2792468 roadsnbridges
roadsnbridges's picture

Ain't gonna be a Nippon.  Majority of debt is not held domestically.  That is Berspanky's major miss.

Thu, 09/13/2012 - 19:18 | 2792599 Matt
Matt's picture

Majority is not held domesticaly? Isn't there like >$6 trillion in intergovernment holdings and another almost $2 trillion at the Fed? Don't worry, all it will take is a little more QE over time for all the debt to be internalized. 

Thu, 09/13/2012 - 18:45 | 2792455 knicks3005
knicks3005's picture

You are my President, Mr. Paul. 

Thu, 09/13/2012 - 19:50 | 2792714 JohnG
JohnG's picture

That's Dr., as in MD.  Not PHD.

Thu, 09/13/2012 - 18:49 | 2792472 buzzardsluck
buzzardsluck's picture

This move is very concerning, I've got to wonder if the NWO just pulled the trigger to finally crash the USA/global economies.  If the elections get suspended for whatever reason (last remaining thing really that let the sheeple think they have a voice) it'll be 9/11x3,056.

Thu, 09/13/2012 - 20:47 | 2792913 seek
seek's picture

The elections are frauds they own, there's no need to suspend them. Don't forget elections were held during a full-on civil war before.

Thu, 09/13/2012 - 21:43 | 2793089 ZeroAvatar
ZeroAvatar's picture

I'll give you an uptick for that thought. Very concerning.

Thu, 09/13/2012 - 18:50 | 2792479 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

once people get the point(after their wages can no longer buy food, shelter and other basic human necessities) they will come calling to the free market proponents.....

Thu, 09/13/2012 - 19:30 | 2792647 Harbanger
Harbanger's picture

"they will come calling to the free market proponents....." really?  Historically after a fiancial crash, people look to more Govt. intervention as a solution.  That's what TPTB are banking on.

Thu, 09/13/2012 - 20:21 | 2792837 CrockettAlmanac.com
CrockettAlmanac.com's picture

Historically folks get their necessities where they can get them. This is often outside of approved channels in a time of crisis.

Fri, 09/14/2012 - 01:25 | 2793586 dark_matter
dark_matter's picture

Sieg. Heil.

Fri, 09/14/2012 - 02:20 | 2793640 Burnbright
Burnbright's picture

Sadly Harbanger is right. What will happen is a majority of the population will go along with what ever system they feel will help them get theirs from those scum sucking "insert scapegoat group with wealth". 

Hate to say it peeps but you or I are more likely to be hanged than a banker or any of these fucks who shit on average peoples lives everyday. The clowns that run this show will simply point a finger to all the hoarders and "speculators" for running up the price of things and why their bitch ass family is starving. 

Fuck people. 

Thu, 09/13/2012 - 18:49 | 2792480 HD
HD's picture

Ron Paul is a crazy old bastard...and I'd vote for him in a second.

GOP wants the white house and they offer up Romney/Ryan? Really?

Fri, 09/14/2012 - 00:23 | 2793521 Muppet
Muppet's picture

You nailed it.  Perfectly said.  My sentiments exactly.   Plan to write-in Ron Paul.... sucks to be Mitt.

Thu, 09/13/2012 - 18:50 | 2792481 Salt
Salt's picture

The flood gates are being opened. Hope everyone can swim.

Thu, 09/13/2012 - 20:22 | 2792841 CrockettAlmanac.com
CrockettAlmanac.com's picture

I was swimming when you posted that. Great day on the Allegheny. The dam held, which was a good thing as I was only a quarter mile downstream.

Fri, 09/14/2012 - 01:22 | 2793584 dark_matter
dark_matter's picture

And make sure your PM and firearms aren't washed overboard.

Thu, 09/13/2012 - 18:59 | 2792497 roadsnbridges
roadsnbridges's picture

Oh look!  O'Golpher's next schedule!

http://www.whitehouse.gov/schedule/complete/2012-09-15

What would this klown do if we were in a bowling competition?

WHO VOTED FOR THIS JACKASS?

Fess up, so we can ignore you

Oh, surprise, here is the next day.

http://www.whitehouse.gov/schedule/complete/2012-09-16

and the next:

http://www.whitehouse.gov/schedule/complete/2012-09-17

http://www.whitehouse.gov/schedule/complete/2012-09-18

up to the 25th, and nothing.  Kinda like the empty chair Eastwood put him in.

Donald Duck, Romski. anything is better.  I prefer the OJ can.

 

Fukking Lib morons.

Thu, 09/13/2012 - 19:13 | 2792581 Religion Explained
Religion Explained's picture

Yes. God Damn Fucking lib morons.

Fri, 09/14/2012 - 09:34 | 2794372 Shell Game
Shell Game's picture

Agreed!  And Fucking Jack-booted Neocon Motherfuckers.

Thu, 09/13/2012 - 19:27 | 2792635 jomama
jomama's picture

still buying into the false dichotomy, i see.

Thu, 09/13/2012 - 21:50 | 2793117 ZeroAvatar
ZeroAvatar's picture

You know, I'm getting tired of all this 'false dichotomy' bullshit.  It's liberal thinking, at it's worst.  "We're all alike.  There's no difference in ANYTHING.  No such thing as liberal/conservative, dem/repub, gay/straight, black/white, you name it. 

 

What exactly do YOU STAND FOR?

What's the 'REAL' dichotomy?  (Struggling hard to refrain from name calling)

 

You MUST have SOME ideology. Throw some useless liberal thoughts into the ring.  Nothing in your brain to back them up.  Just your lib brainwashing.

Thu, 09/13/2012 - 22:50 | 2793312 Calmyourself
Calmyourself's picture

They do love their false dichotomy crap don't they.. No difference at all, bullshit huge differences.  Darn right there is differences and they will become stark at some point. 

Thu, 09/13/2012 - 18:55 | 2792498 Wakanda
Wakanda's picture

Ron should enjoy a well deserved retirement.  It's up to us now FiSHeS...

The Second American Revolution - unfolding now in a neighborhood near you.

Thu, 09/13/2012 - 19:00 | 2792502 newengland
newengland's picture
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”

 Vladimir Lenin quotes (Russian Founder of the Russian Communist Party, leader of the Russian Revolution of 1917, 1870-1924)

Lenin and Marx, founded by the Rothschilds, much admired by central banks.

See the fate of Russia abused by its oligarchs for further guidance. The gulag awaits thee. Resist.

Thu, 09/13/2012 - 19:15 | 2792586 lakecity55
lakecity55's picture

"Only dumb, armed Americans stand between us and our plan to Rule the World--" TPTB

 

PJ O'Rourke (?) "Socialism is Communism by the drink."

Thu, 09/13/2012 - 19:46 | 2792700 falak pema
falak pema's picture

hahaha, Rothschilds came to the rescue of the Hanovers of England in 1815.

They did not take out the Romanovs in 1917 with "a sealed train full of plague bacillus that left Bern for Saint Petersburg via Germany"; dixit Winston Churchill in person. 

Nobel invented gunpowder and Pasteur pasteurisation of milk and rabies vaccine; but nobody thought that the Roths invented a train full of plague bacillus!

That would have won them the Nobel! 

Fri, 09/14/2012 - 02:46 | 2793664 Things that go bump
Things that go bump's picture

I think that Vladimir Ilyich Lenin would resent being compared to the plague

Thu, 09/13/2012 - 20:50 | 2792896 Sathington Willougby
Sathington Willougby's picture

"Dear Mom and Dad, Your bourgeois value system will soon be washed away in a river of blood.  Your son, Gerhard" - Gerhard Reinke

 

http://video.google.com/videoplay?docid=4090023491882494662

http://www.youtube.com/watch?v=kLQ9vpRQF7g

Thu, 09/13/2012 - 20:52 | 2792935 seek
seek's picture

Advice on handling this from a former gulag resident:

And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say goodbye to his family? Or if, during periods of mass arrests . . . people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers or whatever else was at hand? . . . And you could be sure ahead of time that you would be cracking the skull of a cutthroat. Or what about the Black Maria sitting out there on the street with one lonely chauffeur? What if it had been driven off or its tires spiked? The Organs would very quickly have suffered a shortage of officers and transport and . . . the cursed machine would have ground to a halt!

- Aleksandr Solzhenitsyn, The Gulag Archipelago

Thu, 09/13/2012 - 22:59 | 2793317 newengland
newengland's picture

Yes, friend 'seek',

This is all about personal responsibility, and love of community...not love of money or statists, the bureaucrats, the appratchiks.

There is good and bad in every land. Defend the person stood next to you and me. This is our most humane way.

It is a terrible pity that most of the world is not this Republic, my homeland, the USA. 

We have everything we need here, and there is nothing in the Constitution to say that we ought to convert others to our ways.

I write as the descendant of immigrants to the U.S. in 1620.  Best wishes to you and yours.

Fri, 09/14/2012 - 07:33 | 2793731 i-dog
i-dog's picture

Though Marx was indeed a nephew of Nathan Mayer Rothschild's wife (Hannah Barent Cohen), and was more than likely funded by London Jews that included not only the Rothschilds, but also the exceedingly wealthy Barent Cohens, Montefiores and Goldsmids, who were also his relatives. Nevertheless Marx's philosophy was that of the Jesuits and pre-packaged by them for him.

The Jesuits manage the philosophy, political machinations and guiding the think tanks, while the Ashkenazis just manage the money for the Jesuits and any of their political protégés needing some cash to start a revolution ... whether in the USA, France, Russia, Balkans, China, Iran, Cuba or, indeed, anywhere.

Communism was perfected much earlier by the Jesuits in their South American 'Reductions' long before Marx and Lenin -- during the period 1609-1767. The 1986 movie "The Mission" gives a pretty good flavour of their activities down there (and also has an awesome sound track!).

Thu, 09/13/2012 - 18:56 | 2792504 supafuckinmingster
supafuckinmingster's picture

You fucktards ove there in the US have made it clear that you're not gonna elect this great man to the highest office.

 

Any chance we here in Ireland could borrow him?

As our Taoiseach (Premier)?

 

Indefinitely?

 

With Peter Schiff as our Tainiste (Vice Premier)?

 

Apart from the odd journalist, there appears to be no one in Ireland that is fluent in basic economics.

 

We need him/them more than you do.

Thu, 09/13/2012 - 18:59 | 2792516 Wakanda
Wakanda's picture

Get Farge!  Oh wait, he's a Brit.  : (

Thu, 09/13/2012 - 19:05 | 2792547 Landotfree
Landotfree's picture

Put Peter "My Dad is even Stupider than Me" Schiff and Ron Paul in the WH, your ATM card would probably stop working within a month.  Instant or near instant financial collapse.

Of course it will collapse anyway but they definitely will have to be the ones ordering the body bags.

Thu, 09/13/2012 - 19:15 | 2792588 newengland
newengland's picture

L...Erin go bragh.

Time tells all, cures all. 

Thu, 09/13/2012 - 19:18 | 2792603 Landotfree
Landotfree's picture

Not true.  Whether or not the ATMs stop working within a month of those guys being elected will never be known as they are not even on the ballot.   

Thu, 09/13/2012 - 22:26 | 2793236 Blankenstein
Blankenstein's picture

Instead we'll let Obama or Romney continue increasing the debt and devaluing the currency, adding fuel to the fire and making the collapse exponentially worse than if something would be done immediately. 

 

Thu, 09/13/2012 - 19:05 | 2792551 bigkahuna
bigkahuna's picture

piss off - the system over here is rigged as it likely is over there. "The People" are not in control of who gets elected short of by armed force and violence.

Thu, 09/13/2012 - 19:47 | 2792706 Chuck Walla
Chuck Walla's picture

You fucktards ove there in the US have made it clear that you're not gonna elect this great man to the highest office.

Any chance we here in Ireland could borrow him?

Well, we have a slightly dog eared Jimmy Carter in black we would dearly love to let you have.  How's 'bout it? Deal? We'll take buttons for him!

FORWARD SOVIET!

 

Thu, 09/13/2012 - 19:58 | 2792749 Vet4RonPaul
Vet4RonPaul's picture

you're absolutely correct Mr Supa; we did screw up and now have two really lame choses - Romney and Obama.  Sorta like Sarkozy and Hollande; sucks and sucks.  

Thu, 09/13/2012 - 22:38 | 2793267 sAusAge stroker
sAusAge stroker's picture

anyone that you have to define Taoiseach for doesn't deserve to read your post - never been to Eire but it's on my list

Thu, 09/13/2012 - 18:56 | 2792505 JacksNight
JacksNight's picture

You gotta love his answer about Romney.  Dr. Paul is the ultimate gentleman. 

Thu, 09/13/2012 - 18:58 | 2792514 supafuckinmingster
supafuckinmingster's picture

He needs to be less gentlemanly and more politician, at least when it comes to dealing with the slugs he's up against, not when he's actually spreading his ideology. 

Thu, 09/13/2012 - 19:05 | 2792539 JacksNight
JacksNight's picture

He can't, it's just not in his blood.  Believe me I wished he would of stuck it to Romney in those debates but he's just to nice of a man.  

Did you see Jesse Benton finally left?  And to work on Mcconnell's campaign nonetheless.

Thu, 09/13/2012 - 19:07 | 2792555 EvlTheCat
EvlTheCat's picture

Yes, because his career has been about lowering his standards and American standards.  Think you are a little out of touch at what Ron Paul has been trying to acomplish.  Moot point anyway, he is retiring.  God bless him!

Thu, 09/13/2012 - 18:58 | 2792512 atomicwasted
atomicwasted's picture

"he has changed his mind before"

Priceless!

Thu, 09/13/2012 - 19:02 | 2792518 Landotfree
Landotfree's picture

"we are creating money out of thin air,"

Money is not created out of thin air Mr. Paul, credit is created out of thin air.  Humans have used for credit for money for thousands of year, welcome to 5,000 BC Mr. Paul.  

"We landed on the moon" -Loyd (Dumb and dumber)

The system ran out of money long ago to support the equation, sorry Mr. Paul, the system will collapse and their is nothing you can do about it and there is nothing the Fed can do to stop it.

"We've Lost Control!"

Sorry Mr. Paul, you never had control, you only have the appearance of temporary control until you are unable to supply the equation.   The system will collapse.   Same as it ever was.


Thu, 09/13/2012 - 19:04 | 2792548 newengland
newengland's picture

L...

Monarchist, fascist or crypto-communist are you?

Here is the news. The USA is a Republic. Be a nihilist in your own land.

Thu, 09/13/2012 - 19:09 | 2792560 Landotfree
Landotfree's picture

I have no idea why you think any of those words would describe me.

I'm just an idiot but I am an idiot that at least knows basic Math and knows humans do not have unlimited power.  

"The USA is a Republic"

Immaterial.   

Thu, 09/13/2012 - 19:13 | 2792573 newengland
newengland's picture

L...

Bollox. Mere math defines your sort, crypto-communist. It does not define the Republic. Philosophy and evolution is not your strong point, clearly.

Take the Fed's money, and be grateful that your sort live, comrade.

Thu, 09/13/2012 - 19:17 | 2792578 Landotfree
Landotfree's picture

You use words to describe me but you know nothing about me.   Your words about a republic has no bearing on the subject at hand.   This so called republic will collapse just like the last great republic.   

A panic is not going to solve the problem, matter of fact, you are witnessing the final solution to the equation... actually there is no problem, unless you have a heart beat.    

"Take the Fed's money, and be grateful that your sort live, comrade."

Funny you say that about me, it is very apparent you do not know me or you are even stupider than me... which I did not think that was possible. 

Thu, 09/13/2012 - 19:18 | 2792600 Religion Explained
Religion Explained's picture

You're dumb and your momma dresses you funny, Stimpy.

Thu, 09/13/2012 - 19:21 | 2792618 Landotfree
Landotfree's picture

And my mom is fatter than..... 

Nothing like seeing the lemmings at work.

"The Architect: Denial is the most predictable of all human responses. But, rest assured, this will be the sixth time we have destroyed it, and we have become exceedingly efficient at it."

Thu, 09/13/2012 - 19:23 | 2792626 Religion Explained
Religion Explained's picture

Stimpy, you blithering eeeeeeeeeeediot...

Thu, 09/13/2012 - 19:31 | 2792649 falak pema
falak pema's picture

its called  halloween and its funny; like the money; not like the commie, unless he is groucho.

Thu, 09/13/2012 - 19:20 | 2792610 newengland
newengland's picture

L...

This is the world weird web. I respond to your words, as you do mine.

Nothing personal intended.

Thu, 09/13/2012 - 19:22 | 2792625 Landotfree
Landotfree's picture

No problem.  

None of this will change the final conclusion.

Thu, 09/13/2012 - 20:28 | 2792869 CrockettAlmanac.com
CrockettAlmanac.com's picture

As if you could kill time without injuring eternity.

Thu, 09/13/2012 - 20:49 | 2792917 newengland
newengland's picture

C...

A beautiful poetic riposte.

Thu, 09/13/2012 - 19:28 | 2792627 socalbeach
socalbeach's picture

The Fed creates reserves (money) out of thin air.  No interest is paid and it never has to be paid back, so it's not credit. And when used to buy Treasuries it effectively retires government debt, so if anything it's anti-credit.

Banks create credit out of bank reserves.  It's also money since it can be used to pay bills and taxes, and increases the money supply as long as it's held by the non-bank public.

And it's Dr. Paul, not Mr. Paul.

 

Ref: http://www.hussman.net/pdf/annrep12.pdf

"A second approach is “monetization,” where the central bank creates currency and bank reserves in order to purchase and effectively retire government debt..."

Thu, 09/13/2012 - 19:28 | 2792638 Landotfree
Landotfree's picture

You are using credit as money, it does not exist, never existed, never will exist.  

All credit is created out of thin air, if not you can show it to me.

Thu, 09/13/2012 - 19:51 | 2792708 socalbeach
socalbeach's picture

You lost me there. One dollar in currency and one dollar in checking acct deposits are freely convertible into one another.  See the book, Modern Money Mechanics, for details.

Regardless, the first part of your initial statement is wrong as I just explained in my previous post,

"Money is not created out of thin air Mr. Paul, credit is created out of thin air."

Thu, 09/13/2012 - 18:59 | 2792522 EvlTheCat
EvlTheCat's picture

Nice jab there, at the end, towards Romney Mr. Paul!

Thu, 09/13/2012 - 19:12 | 2792576 Drachma
Drachma's picture

Kent Brockman: Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?
Professor: Yes I would, Kent.

Thu, 09/13/2012 - 19:19 | 2792601 falak pema
falak pema's picture

we are not making money out of thin air, we are making air out of thin money.

Windmills that blow the S& P sky high. 

As the money gets thinner and thinner the windmill turns faster n faster, until it goes bang! 

I guess if you like windmills its something to be nervous about.

If you like the wind then it could blow away your fears along with the mill. 

What has to blow away will.

Thu, 09/13/2012 - 21:41 | 2793077 Spastica Rex
Spastica Rex's picture

What actual catastrophic failure might look like.

It all looks fine until it don't.

However...

I don't think this is how it will play out. Rather, I imagine many decades of grinding, miserable decline.

But frankly, I don't know nuthin'.

+1 for you, FP - you get better all the time.

Thu, 09/13/2012 - 22:35 | 2793263 Cathartes Aura
Cathartes Aura's picture

*gah*

your link was a jawdrop - but then I clicked the "bird vs. wind turbine" - sigh. . .

bald eagle.     very apropos for the day, sadly.

 

http://www.youtube.com/watch?v=8NAAzBArYdw&feature=related

Fri, 09/14/2012 - 07:30 | 2793696 i-dog
i-dog's picture

At the risk of stating the obvious, CA ... clicking on a link titled "bird vs. wind turbine" was never going to end well....

Fri, 09/14/2012 - 05:33 | 2793760 falak pema
falak pema's picture

aren't we all in that book of Cervantes where his hero rides against the windmills ?

Isn't that the best representation of the conundrum facing all of us; life's eternal song of what life should be and what it is, when the dark Prince(s) runs the world in our collective names. 

And the sheeple sing Semper FIdelis to God and Country, while the Oligarchs laff and laff behind their tinsel curtain of democracy, more in reality the Iron Curtain of Statist crony capitalism.

We are in that maze of Knossos, of Hampton COurt or of Bot-fed HFT nanosecond fiat financialista fairy-land. 

Seeing that curtain inevitably tear assunder, like the mirror of the LAdy of Shalott, under the winds of Entropy effect; watching Semper Fidelis morph to "Greed is good" is the tragedy of our times. 

The mirror crack'd from side to side...

The Lady of Shalott - Wikipedia, the free encyclopedia

 

Fri, 09/14/2012 - 08:33 | 2794019 tip e. canoe
tip e. canoe's picture

the only way out is through the eye of the windmill

Fri, 09/14/2012 - 09:31 | 2794358 falak pema
falak pema's picture

better than the eye of the needle for the Oligarchs! 

Fri, 09/14/2012 - 10:58 | 2794880 Drachma
Drachma's picture

"Materiality...assails the will power and destroys the morale. As long as there is the desire to fight ignorance and degeneracy, as long as there is the inner urge to resist evil and the illusions of matter, it is possible to attain liberation with reasonable effort.

Form, however, fights in an underhanded way by taking away the desire to master its elements, and substituting therefore the lethargy of indifference which prefers to leave things just as they are and go along with the rest of the world, enjoying its momentary pleasures and suffering as resolutely as possible the concurrent ills of life.

When the material urge of physical environment has so benumbed the inner nature that every spiritual aspiration is anesthetized, the individual is reduced to the level of that mediocre throng who are content to struggle along in the age-old ruts. Such have hypnotized themselves into the false belief that existing conditions are inevitable and unchangeable."

Manly P. Hall - Lectures on Ancient Philosophies

Thu, 09/13/2012 - 19:19 | 2792602 dadichris
dadichris's picture

You're Fired !!!

The Fed has utterly failed to fulfill its mandate and demonstrated its own incompetence.

Repeal the Federal Reserve Act now...

 

 

Do NOT follow this link or you will be banned from the site!