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Ron Paul Statement On The Fed's Bailout Of Europe

Tyler Durden's picture




 

From Ron Paul

Statement on the Fed's Continued Euro Bailout

The Fed's latest actions in cooperating with foreign central banks to undertake liquidity swaps of dollars for foreign currencies is another reason why Congress needs enhanced power to oversee and audit the Fed.  Under current law Congress cannot examine these types of agreements.  Those who would argue that auditing the Fed or these agreements with central banks harms the Fed's independence should reevaluate the Fed's supposed independence when the Fed bails out Europe so soon after President Obama promised US assistance in resolving the Euro crisis.

Rather than calming markets, these arrangements should indicate just how frightened governments around the world are about the European financial crisis.  Central banks are grasping at straws, hoping that flooding the world with money created out of thin air will somehow resolve a crisis caused by uncontrolled government spending and irresponsible debt issuance.  Congress should not permit this type of open-ended commitment on the part of the Fed, a commitment which could easily run into the trillions of dollars.  These dollar swaps are purely inflationary and will harm American consumers as much as any form of quantitative easing. 

The Fed is behaving much as it did during the 2008 financial crisis, only this time instead of bailing out politically well-connected too-big-to-fail firms it is bailing out profligate government spending. Citizens the world over deserve better than this. They deserve sound money that cannot be manipulated and created out of thin air by central planners who promise printed prosperity. Fiat money caused this European crisis and the financial crisis before it.  More fiat money is not the cure. The global fiat currency system has proven itself a failure, we need real monetary reform. We need sound money.

 

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Wed, 11/30/2011 - 15:15 | 1931664 lasvegaspersona
lasvegaspersona's picture

I simply do not understand how the American public, who by now are starting to recognize the problems with our monetary system, cannot connect the dots back to Ron Paul. He is the only political voice in the USA to directly address the problem.

maybe, maybe...

the problem is...if things do not explode on Obama's watch, the next president will get the blame, even if it is Ron Paul.

Wed, 11/30/2011 - 15:15 | 1931675 kralizec
kralizec's picture

Ron Paul makes a hell of a lot of sense when talking about fiscal and monetary policy, as this release clearly demonstrates...it's that other batshit effing crazy crap coming out of his mouth that scares the bejeebers out of me!

As for Persian strings tied to this bailout...it gives Duh Wun more intellectual credit than he deserves, especially since his teleprompter has more raw computing power than BHO.  But, that does not preclude the idea being a Euro one and Barry jumping on and giving the Israelis the green light to start some stuff.

Wed, 11/30/2011 - 15:16 | 1931684 Bansters-in-my-...
Bansters-in-my- feces's picture

"YOU have been Jewed" ron paul says.

  • You all been Joo'd.
Wed, 11/30/2011 - 15:18 | 1931696 non_anon
non_anon's picture

last call

Wed, 11/30/2011 - 15:56 | 1931882 CrockettAlmanac.com
CrockettAlmanac.com's picture

Time for the Republicans to put a bag over Romney's head and take him home?

Wed, 11/30/2011 - 16:54 | 1932243 Joe Sixpack
Joe Sixpack's picture

Wait until Newt and Hermie barf in it.

Wed, 11/30/2011 - 15:22 | 1931717 tony bonn
tony bonn's picture

ron paul is vox dei

god bless ron paul and may he become the next president of the united states....

fuck "electability"...ron paul is the man

Wed, 11/30/2011 - 15:23 | 1931723 Everybodys All ...
Everybodys All American's picture

I no longer think these are just dollar swap lines. I think these are more or less printed dollars to fill large holes. Who would hold the Euro anyway? Why would the Fed take Euro risk on in addition? The answer I believe is they are not.

Wed, 11/30/2011 - 15:26 | 1931741 tocointhephrase
tocointhephrase's picture

RP for President, Me for U.K Priminister and Long Live ZH!!! 

Wed, 11/30/2011 - 15:28 | 1931756 ruffian
ruffian's picture

someone comments on several posts over the last few days that it was th "Fed's World" and the ecb, efsf were irrevelevent...........well cudo's to whover that was. If I remeber correctly, he was largely ignored

Wed, 11/30/2011 - 15:36 | 1931790 Undecided
Undecided's picture

haha

 

http://finance.yahoo.com/news/western-world-finished-financially-cio-162008002.html

The Western World Is 'Finished Financially': CIO

Wed, 11/30/2011 - 15:40 | 1931806 SILVERGEDDON
SILVERGEDDON's picture

Sarah Palin will check in at the last minute, and ride Newt Gingrich like A rented mule as VP . In a black spandex body suit, thigh high black leather storm trooper boots, matching saddle and riding crop applied to the Newtster. Makes him happy, getting bitch slapped and ridden hard, makes her happy, demonstrating "Mama Grizzlie" control, makes the media happy photogenically speaking, makes the American sheeple happy with bread and circuses. Ron Paul doesn't have a prayer. Maybe a cameo role as Nero, playing his fiddle while America burns. That's all.

Wed, 11/30/2011 - 15:42 | 1931815 wisefool
wisefool's picture

There is only one way to get Ron Paul elected. We must get him the Republican nomination. You are not going to get the american sheeple upset about monetary policy or the fed. Inflation is going to be "managed" as it is now. Throw away junk is cheaper so it is okay that food and fuel are going up.

Romney's achiles heel is that he is a billionaire who pays less effective taxes than the typcal single mom. American people can understand and be outraged about that. Get this message out and Ron Paul has a shot. He wont do it because he is a gentleman and at his core a libertarian statesman. He has to stay ideolocially pure. We need the people to understand why Romney is not.

Wed, 11/30/2011 - 15:47 | 1931839 skink
skink's picture

I don't like fiat...but the big problem is politicians and how fiat lets them spend to benefit themselves

 

Wed, 11/30/2011 - 15:48 | 1931844 Civil Shepard
Civil Shepard's picture

I commented via my checkbook.    www.ronpaul2012.com  

Wed, 11/30/2011 - 15:59 | 1931901 wisefool
wisefool's picture

Very appropos. Ms. Shepard dated Elvis Presly. Elvis Presly bragged about how much he paid in taxes. The people LOVED him.

Romney wants the american people to trust him with the Nuclear Football, but he does not trust us enough to look at his past 30 years of tax returns? The people ergo, should HATE him. If you want Ron Paul to win and can not afford to contribute. or you fear reprisals in your personal life by formal association with his campaign, you can get this fact about Romney out there. For free, and without indicating open support for Ron Paul.

Wed, 11/30/2011 - 15:49 | 1931845 AldoHux_IV
AldoHux_IV's picture

I have a better idea Ron Paul: end the fed, and most importantly before thinking about adding any additional congressional oversight to anything we need to clean house with our politics.  No more career politicians aka term limits, corporations are not people and thus can not fund campaigns, and politicians need to forfeit any trading accounts prior to taking office.

Fiat currency is like a gun, guns don't kill people-- people do.

Wed, 11/30/2011 - 16:27 | 1932080 jmc8888
jmc8888's picture

Term limits won't solve anything.  The rest of what you propose is sufficient. 

It's the money, and the people basing their beliefs on bullshit.  Most of the time, other than those that are completely corrupt, you get useful idiots who believe their own bullshit sophistry that get them aligned with a lobby.

 

Meaning term limits won't solve the problem, that people pull their ideas from fake ideas they were taught.  The 'interests' hook people not just with money, but with ideology.

 

That ideology is based on bullshit, and people need to recognize that term limits don't change people falling for bullshit ideology.

 

There is also the problem that if everyone is a freshman or sophmore congressmen or senator....you have two problems, few will know how washington works, the nuances of it, and two everybody as a rookie can still be rolled by interests.  There are a lot of congressmen, past, present, who may have made a wrong choice or two, and that figured it out, to never allow that to happen again.  But, they made a mistake or two, well, now that mistake time, would be their only time to be a congressmen.  These guys would be easily rolled, less so without corporate financing, but still able to be rolled easily.

 

Plus you have to realize, what would America have done if Roosevelt couldn't run in 1940.  The entirey of WWII would have been waged without him.  That wouldn't of been good.

It's intellectual sophistry to say that the more you pull the slots the better outcome you'll get.  All we'll be doing is putting more people in congress at a faster rate.  They'll be easily to be rolled and by the time they figure everything out, they're gone.  Some of the most corrupt polticians, are also the newest ones.  Look at how much the tea party hacks are on the dole.  They are already more corrupt than those they replaced. 

You need to actually focus on what matters, and that's better candidates who don't believe in ideological sophistry.  You need the American public to be educated better at how to pick a candidate.   Limiting America's ability to choose it's congressmembers because of term limits does not have an impact on the quality of congressman we get.

It'll easily make it worse.

 

But your other things are spot on.  Corporate funding, trading accounts, etc.

Money is a tool, something both Keynesians and Austrians don't understand.  It's not to be printed, nor held to idol staus.  It's a tool, to be respected, and actually used to further mankind.

Glass-Steagall

Wed, 11/30/2011 - 17:02 | 1932290 Joe Sixpack
Joe Sixpack's picture

---

Wed, 11/30/2011 - 17:17 | 1932395 Lester
Lester's picture

FDR betrayed Eastern Europe and America with the whole WWII event.

America has had no business in any foreign wars.   FDR carried the water for Stalin and thereby just overlooked the genocides of Ukraine and all other absorbed nations that did not voluntarily join in the creation of the USSR.  20 Million before WWII began, credited to Stalin...  

This was the event that got the ball rolling for all the Looting of Our National Treasury, and established liberalism and intention as being Above The Constitution because America was so motivated to serve people and buy the world a coke...  Pity that another 30 to 40 million had to die or disappear because FDR sought only to compromise with Stalin.

Wed, 11/30/2011 - 17:31 | 1932512 VelvetHog
VelvetHog's picture

I am definitely smellin' what you are steppin' in, but.

 

"There is also the problem that if everyone is a freshman or sophmore congressmen or senator....you have two problems, few will know how washington works, the nuances of it,...."

 

You see this as a bad thing?!

Wed, 11/30/2011 - 16:05 | 1931933 Cone of Uncertainty
Cone of Uncertainty's picture

Dam I wish I wrote that shit.

Wed, 11/30/2011 - 16:09 | 1931959 Homo Erectus
Homo Erectus's picture

And the Germans too.

Wed, 11/30/2011 - 16:10 | 1931971 ThirdCoastSurfer
ThirdCoastSurfer's picture

What a bunch of BS. A 50 bps reduction in the loan rate on a $1 trillion is $50 billion. Since we are probably talking about lending in the neighborhood of $200b, $1 billion in savings has just been unleashed should these loans be held to maturity and renewed for a year. 

Once again, this is nothing more than banks holding hostage and riding rough shot over central banks and demanding that they get their way or they'll take the economy over the edge. 

Wed, 11/30/2011 - 16:11 | 1931980 steve from virginia
steve from virginia's picture

 

RP should keep quiet and let other make noise.

Believe it or not the Fed is doing the right thing, it is recycling flight capital from Europe back into Europe.

A large component of the EU crisis is capital flight.

Recycling capital is what the Fed should do the alternative is hated 'money printing'.

The ECB should be recycling capital: it has hundreds of billions of euros in accounts at the bank. At the same time it sells bonds into the terrible market.

I hate to rain on your parade but Ron Paul is incorrect about the economics: The establishment believes the problem is labor costs rather than fuel costs.

The cure -- of swapping fuel for labor -- IS the disease.

Wed, 11/30/2011 - 16:15 | 1932005 jmc8888
jmc8888's picture

People also have to realize that money is not worth anything, ever.  It is a tool.  Thus money as a tool, as it should be, doesn't have any inherent value.  Money isn't wealth.

Water is wealth

Food is wealth

Energy is wealth

New tech that opens up opportunities is wealth.

 

Thus both Austrian and Keyneisans are wrong on 'money'.  Money is inherently worthless.  But it should be respected. 

 

The problem is, we have two dichotomous MONETARY idiots running around.  The Keynesians, who print for fraudulent debt, and think just printing money and introducing it into the monetary system, brings prosperity.

Then you have on the other hand, people that hold money up as a god like it's an idol status to be worshipped.  Ones that believe, money has to be worth something. These are the idiot Austrians.

Money is a tool, to be respected, not held up as an idol NOR printed at will.

The choice we have is between two monetary (aka bullshit sophistry anti-american) viewpoints.  The problem is of monetarism. 

Thus again, you need not be an Austrian to know Ben Bernanke's Keynesian printing for fraudulent debt, is genocidal, not to mention anti-american.  But Austrian monetarism, can very easily lead to genocide as well. 

He gets some kudos for pointing out that this sort of Keynesianism is anti-american, but he too should look at how much Austrianism is also anti-american.  Talk about the pot calling the kettle black.

Don't get mad, because we truly are in a more fucked up position than many have realized, but time is running short.  Ditch monetarism of all stripes.  Go back to the American (Hamiltonian) Credit System, which IS what this country was founded as.  You can't claim to be returning America back to the ways of the founding fathers, when Austrian monetary school of non-thought is what you REALLY want to change America to.  America's founding father were neither Keynesian nor Austrian, and the way out of this mess is for America to become neither Keynesian or Austrian, again.  For that matter NO version of monetarism.  Monetarism is for the oligarchy, not for a democratic republic.

Glass-Steagall

Wed, 11/30/2011 - 16:29 | 1932091 wisefool
wisefool's picture

I see many of your points. We use the worst aspects of both systems, and throw in absurd taxation which BOTH schools reject. Keynes and Hayeck (propoents of the opposing schools) were basically the poster children for Post Traumatic Stress Disorder following WWI, But these are the guys our central planners (of all stripes) consider the gold standard. Reject the violence inspired macro theories, and the micro fear of violence (I found enough deductions to avoid the end of a gun) tax system and the world would be a better place.

Its all about violence and this is holding the human species back. You dont have to study religious scripture to see this. You dont have be a Krugmanite and pray for aliens to wage war on the planet.

Wed, 11/30/2011 - 17:07 | 1932274 Joe Sixpack
Joe Sixpack's picture

You have some points, Mr. LaRouche. On the other hand, Hamilton's bank was not that different than the Fed.

I will support Ron Paul- more for his constitutionalism than for his particular monaterism.

Wed, 11/30/2011 - 16:20 | 1932028 TheObsoleteMan
TheObsoleteMan's picture

Don't hold your breath waiting for CONgress, or anybody else to audit or limit the Fed's powers in anyway. The Fed is CONgress' pusherman. It is how they get to spend money we/they don't have. It provides political cover for deficit spending without having to resort to raising taxes outright. If they had to go to the public, and be honest with them, and tell them they were going to raise their taxes by 50%, they would be strung up Mussolini style, and they know it.

Wed, 11/30/2011 - 16:23 | 1932046 Jim in MN
Jim in MN's picture

Fuck the vesting

Fuck the employer match

Get the hell out of your digital 'snuff funds'

These bastards will steal every last decimal place

It is over, just the free fall happening now, all fake funds from central banks and parasites, nothing to back any of it

Get anything you value the hell away from DC/NYC and their digital toilet bowl

Wed, 11/30/2011 - 16:25 | 1932049 kralizec
kralizec's picture

Ron Paul will not be elected POTUS, but it sure would be fun seeing him appointed Treasury Sec in a new Admin!

"Timmy?"

"Please come in.  Oh wait, don't!  YOU'RE FIRED!!!"

LOL!!!

Next, take on the FED!!!

Wed, 11/30/2011 - 16:49 | 1932203 wisefool
wisefool's picture

Nice thought. Heres my take if Romney gets in:

  • "Timmy, please come in"
  • "I know, I am fired, thats the way the cookie crimbles"
  • "Are you kidding me? I need to keep you right where you are at. I will claim I am keeping you because the job can not be transistioned right now. just like Obama did with SEC-DEF and Big Ben .... But you know the deal right?"
  • "Yes I do. I will make sure your recently relased revisionist IRS history is protected such that you paid more than the avergage single mom that you now govern, as you promised during the campaign. Easy peasy. TurboTax. File->Save as. Do you want to overwrite? Yes."
  • "Good boy.here is that check from my offshore account payable to the UST to make it all proper. Now that I am president I feel good about paying taxes according to the 'official' story"
  • "Today is a great day for democracy!"
Wed, 11/30/2011 - 16:29 | 1932066 ebworthen
ebworthen's picture

 

 

True meaning of "liquidity", dollar "swaps", and "quantitative easing":

  1. The global debt orgy on the backs of children will continue.
  2. The vampire squid will continue to be fed the blood of the masses.
  3. The hegemony of the central banksters willl not be questioned.
  4. 99% - Stay on your knees, the sodomy will continue.
  5. 1% - Chill some more champagne, the party will continue.
Wed, 11/30/2011 - 16:28 | 1932087 cathrynm
cathrynm's picture

I'm sitll not really clear how these swaps work.   They are Euro for dollars then?   How does this help?

Wed, 11/30/2011 - 16:40 | 1932153 ebworthen
ebworthen's picture

Think of it this way; the mortgage company lowers your interest rate by 1/2%, and gives you an almost unlimited line of credit and time to repay the loan.  Of course, they pass the cost of doing so on to every other mortgagee.  In this case, foreign governments and bankers are the ones who get the gravy and mashed potatoes; the working families get the bill.

http://www.bloomberg.com/news/2011-11-30/fed-five-central-banks-lower-in...

 

Wed, 11/30/2011 - 16:36 | 1932123 yogibear
yogibear's picture

The all powerful Ben Bernanke laughs at Ron Paul. Ben Bernanke and the Fed were given extraordinary powers to do whatever they want. 

Wed, 11/30/2011 - 16:40 | 1932156 fourchan
fourchan's picture

ponzie swap rallys market on hopes of devaluation.

 

we have crossed through the looking glass.

Wed, 11/30/2011 - 16:41 | 1932159 TK7936
TK7936's picture

Ron Paul is the last chance to save America and the world.

Wed, 11/30/2011 - 17:56 | 1932673 thepixelpusher
thepixelpusher's picture

I'd like to believe that, as his messages are mostly right. But, in his 45 years in government he hasn't built up a strong enough coalition of senators/congressmen to support him.

Heck, he can't even get past the media's control over squashing his messages.

We the sheeple know our votes can be skewed through the averaging of the "electoral college" system of voting we have. So Paul may not even get in. If he does he's likely to be marginalized by larger forces, such as those that marginalized John F Kennedy's attempt to bring money creation back to the US control from the Fed. We know how that ended.

That said, we have to start somewhere, but it will take more people waking up to the "real" situation and act on it to change things and not rely on Ron Paul to fix everything for them.

Wed, 11/30/2011 - 16:54 | 1932236 monopoly
monopoly's picture

He can never be elected. Does not have the qualities to be president. He is honest, intelligent, understands what fiat money is and is willing to do what is right for the country and our children, long term.

Nope, none of the right qualites. Sorry, move along.

Wed, 11/30/2011 - 17:01 | 1932260 Mediocritas
Mediocritas's picture

Ron Paul's not quite correct when he says this is a bailout of profligate government spending, it's worse than that. Europe's problems are NOT due to profligate public spending, they're due to profligate private borrowing (just as they were in the USA). Excessive credit extended at improperly suppressed (converged) rates throughout the eurozone blew up bubbles (eg Spanish real estate) that, in their bursting, had the same effect as in the USA, putting TBTF banks with excessive leverage into hot water. Due to political constraints, the inability of the ECB to act as a lender of last resort means sovereigns end up bearing the burden which, added to current account imbalances, creates the crisis we have. Germany could solve it, but that means Germany must be charitable and, in a competitive Europe, why should it share its hard-won spoils of war?

I explained 6 months ago (or so) how QE3 would go down. First as a eurodollar bailout (exactly the same as QE2) with the Fed swapping for USD denominated assets in order to provide liquidity to Europe-exposed banks. Second as a euro bailout (something new) to circumvent Germany's blocking of the ECB, in which the Fed draws on its swap with the ECB to pull euros (after depleting its own euro reserve) and uses them to buy Eurotrash debt as a proxy for the ECB. The ECB will then swap Eurotrash assets with the Fed in exchange for euros which are then used to unwind the swap. I also predicted (accurately) that swap rates would be reduced as a sweetener, and that the limit on the Fed's euro-pull line would be lifted (yet to see this, note that the opposite direction is unlimited).

In effect, the ECB is delegating OMO decisions (regarding European sovereign yield relief) to the world's central banks (primarily the Fed), bypassing German resistance to ECB easing in the process and easing complaints from foreign holders of Eurotrash debt. Germany will be pissed by this and have one of two options, either give in and take some inflation (which is actually good for German exporters) or be aggressive, bomb the party and take down the ECB. If it does the latter, then world's central banks will suddenly find themselves carrying worthless debt as sovereigns begin defaulting or what's left of the euro will inflate significantly, harming German exports while making Germany a pariah amongst central banks (with consequences). 

Once again, Germany has entered a war with the world and, once again, Germany will lose. What will catch many by surprise is that the euro will not bomb as badly as expected. It will bomb slowly, for sure, but the extent will be limited as QE3 done via the swap lines avoids market refactoring of price via forex markets. Central banks can bypass forex if they want, it's up to forex markets to play catch up. The euro will eventually drop below parity with the USD given the relatively much worse situation of European banks than US banks, but it will take longer than people expect. As for gold, once the immediate threats of defaults are resolved, it blasts to the moon. Buy in the dip.

Wed, 11/30/2011 - 16:59 | 1932271 yogibear
yogibear's picture

Just wait until everyone in the world looses faith in the US currency/economy. Who will bail out the US?

Wed, 11/30/2011 - 17:18 | 1932315 Mediocritas
Mediocritas's picture

When it happens, eurodollars will be rolled into SDRs with an immediate haircut for holders, although limiting losses caused by subsequent inflation of the USD component. Domestic USDs will inflate like hell, wiping out the US middle class even more and there will be a push for the Amero which allows the US to spread the burden of inflation to Canada and Mexico and to rape said economies for wealth. The goal of one single world currency hasn't been abandoned by the multinational elite, they want it even MORE now.

It seems inconceivable that the Amero could get off the ground given the failure of the Euro, but I'm confident that Goldman's parachuted agents throughout North America could make it happen on the Fedury's behalf, despite objections by the citizens of effected nations.

We're still a long way away from these events happening, but they will eventually have to happen (or something like them). Also highly likely that gold will be confiscated when the Great Reset hits America.

Wed, 11/30/2011 - 18:34 | 1932855 thepixelpusher
thepixelpusher's picture

"Also highly likely that gold will be confiscated when the Great Reset hits America."

What will happen to the physical ETF's like CEF, PHYS, PSLV then. How will they take my as yet untaxable 401K investments?

Wed, 11/30/2011 - 17:03 | 1932281 The Heart
The Heart's picture

Here is the real deal that is being swept under the rug. Within months this radiation could hit the west coast and work it's way into the food chain.

Watch this video:

http://www.youtube.com/watch?v=jzw5YgUESiY

Do you know where your seafood is coming from and is it contaminated or not?

Did you get your tuna before this next cesium containing batch is canned and put on shelves?

Wed, 11/30/2011 - 17:10 | 1932292 Element
Element's picture

"And because a durable recovery must also include fiscal responsibility, we agreed to balance the need for continued growth in the short term and fiscal sustainability in the medium term.  In the United States, I’ve set a goal of cutting our deficit in half by 2013."

 

The cheeky prick repeated his lie even after the election, when he didn't have to.  He only mentioned it again here because people kept going on, and on, and OOONNN! ... about the US debt growth.  That's Obama, inside and out, all lies, no substance, a spineless delusional and deluding smiling conscientious-appearing yes-man, who achieves none of his touted fantasies and what he calls 'goals', simply to make it seem as though they matter to him.  I mean, how can he get away with saying such obvious baloney in mid 2010, and NO ONE in the global media or mainstream economics, or budget office even calls him out for it?

He doesn't mean any of it ... actions, not words.

Obama is the ultimate political populist but populists usually at least mean what they say, but this guy certainly doesn't. http://en.wikipedia.org/wiki/Populism

More Taronto G20 lies:

"Rules must be clear.  Oversight must be strong.  Complex trades -— like derivatives -— must be brought into the light of day.  Excessive risk-taking and abusive practices must be prevented.  Consumers must be protected.  In short, we have to do everything in our power to avoid a repeat of the recent financial crisis."

And in response to a following media question the O said;

"Keep in mind that we had already proposed a long time ago that we were going to cut our deficits in half by 2013.  And so the time frame and the measures that have been adopted are consistent with our view that it is important for us to make sure that in the medium and long term, we are paying attention the big deficits and debts that we have out there. What we did say coming to this conference is we can’t all rush to the exits at the same time. "

All very populist sounding, all falsehoods and delusion-spreading, plus many in-your-face lies. Note the use of the word "were".

But this is the real "money-shot" lie-of-lies for the US tax-payers:

"As I reiterated to my colleagues, after years of taking on too much debt, Americans cannot —- and will not —- borrow and buy the world’s way to lasting prosperity."

The US people may not be funding other nations imports to the USA, but Washington dick-weeds and the Federal Reserve Bank (economie-fuckers-are-us) are indeed attempting to, "... borrow and buy the world’s way to lasting prosperity."

 

July 2010 Taronto G20 Speech - full text

http://www.whitehouse.gov/the-press-office/remarks-president-obama-g-20-...

Wed, 11/30/2011 - 17:11 | 1932336 The Heart
The Heart's picture

Thanks Element for your as usual enlightening comentary.

What do you think of the above video?

Many of us wish you would come over to enenews and sign on as "Element" and add your commentary to those that follow the daily Fukushima news. Many of us have well respected your input here on ZH and sure want to invite you to be one of the rugulars over there.

Thank you again for your contributions.

Wed, 11/30/2011 - 17:44 | 1932534 Element
Element's picture

I made it clear in March and April that these radioactive heavy-metal cations have a high affinity with the crystalline structure of phyllosilicate minerals, namely common estuarine and river-mouth clays, that also deposit in fine suspended form over the entire continental shelf.

http://www.galleries.com/minerals/silicate/phyllosi.htm
http://www.tulane.edu/~sanelson/eens211/phyllosilicates.htm

Once it's in those clay fines it is not going away any time soon. Wind, waves and storms, plus turbidity from things like fisherman's troll nets, and especially from any surviving biological overturning and re-working of these sediments, will keep it dangerous and in the food chain for many decades.

Put it this way, if this marine clay was on land instead of the sea benthos, let's say in Ukraine, the Govt there would create a truly gigantic exclusion-zone, and no one would be allowed to live there, or eat anything from there, for a century, or three.

But because it's in the marine mud instead, people still think it isn't just as dangerous to them, medium to longer term.

The video speaks for itself, what we have not seen is the accumulative outcome.  This is a 'slow-burn' fuse. I tend to read SKF as it seems to provide the clearest accessible information and analysis, but thanks for the invite Heart.

Wed, 11/30/2011 - 17:56 | 1932675 The Heart
The Heart's picture

Hello and thank you so much for this great info.

This is exactly what a lot of people at enenews are looking for. Especially a lot of the women with children that are there asking questions and still seeking information. Some of the ladies are now checking in with their Geiger counter measurments and posting them in the permanant radiation monitoring thread. The circle of wagons is growing larger world wide.

As you said, a slow burning fuse. Today they are saying the fuse is now in the concrete containment floor as you saw on EX-SKF. Is it just a matter of time before it hits the water table? And if so, how long could it take and what could happen?

http://enenews.com/nhk-very-severe-accident-nuclear-fuel-reactor-1-melte...

Thank you again and know well that your informative light is appreciated. Should you change your mind and decide to join us, know the door is always wide open.

Wed, 11/30/2011 - 22:49 | 1933627 Element
Element's picture

You're welcome Heart, a little gift for you, enjoy and relax;

http://www.youtube.com/watch?feature=player_detailpage&v=jwcZERZ6cUw

Thu, 12/01/2011 - 01:31 | 1933987 The Heart
The Heart's picture

Ah so true.

Gratitude is the attitude that feeds the wheel of good fortune every day.

Thanks for your good link here.

Bless.

Wed, 11/30/2011 - 17:22 | 1932439 boooyaaaah
boooyaaaah's picture

"Congress should not permit this type of open-ended commitment on the part of the Fed, a commitment which could easily run into the trillions of dollars."

Ron please,
How do you think the congress pays for all the goodies, not thru taxation, as was laid out in the constitution.
Why beg we the people for taxes when the pols have their own private bank that can print or borrow all the money they need.
Sure the taxpayer has to pay the hidden tax of inflation, and pay interest on the debt, but that comes after the election not during the campaign.

After the deal has gone down, like it did yesterday.
No pleading with we the people for control of our purse strings.

No debates, no baby kissing, no stump speeches, no hand shaking. Just a proclamation that an agreement has been reached.

Our rulers have decreed

The founding fathers who based this country on the belief man could rule himself, and government was of the people, We the people have abdicated our rights.

And our rulers are not going to make it all better for us.
They will do what tyrants do
They will enslave us.

Why? To quote Big Willy.

Because they can.

Wed, 11/30/2011 - 17:29 | 1932458 thepixelpusher
thepixelpusher's picture

Anyone else here think the Fed has positioned themselves to win if the worldwide system fails or flourishes?

International banks have the answers if everything collapses (bailouts, new currency standard, etc.) or funny money derivitives when everything is going well (creating the next bubble in which to profit off of). If all this turmoil leads to regional riots or even World War 3 they still profit from installing bank-friendly puppet presidents in these countries who then turn the resources over to the banks biggest company customers. Then the bank offers loans to clean up the mess, which the country pays back in resources (land, energy, gold, etc.) and high interest rates. The stranglehold is complete at this point.

Wed, 11/30/2011 - 19:29 | 1933057 lasvegaspersona
lasvegaspersona's picture

Just a reminder

Just because the media thinks Ron cannot win does not mean the rest of us have to behave that way....believe...send his ccampaign some benny bucks....

PO BOX 2012, Lake Jackson, TX 77566

I just did...again ..and it felt really refreshing, like I was giving America a laxative

Wed, 11/30/2011 - 21:45 | 1933459 Bruin4
Bruin4's picture

NPR and all US media outlets are absolute criminals. NPR may be worse because 1. they know better and 2. most clods think that they are liberal and honest

Fascism has many faces.

 

Wed, 11/30/2011 - 23:05 | 1933669 Spastica Rex
Spastica Rex's picture

NPR - smug, yet pompous.

Fri, 12/02/2011 - 13:17 | 1939079 cheedleboro21
cheedleboro21's picture

Just think about how much more effective I could be in working out mutually-rewarding solutions with like-minded individuals and organizations;if only I could keep my bruised and insecure personal ego out of the discussion.

Oh, well; I guess I'm doing OK by being here in the first place. It's a good sign, but is it going to be enough and is it still not too late to try?

Half the time I would like to help save some of these fools; but the other half I can't help but feel that they gave up long ago and I just need to learn how to "wave bye bye" and let them go...

Let them keep drinking water out of the tap and let them watch TV until there's nothing left but mayonaise in their ossified brain-pans.

They are an anachronism which has no purchase in this World and they cannot meet the challenges going forward. The welfare state and a hoaxed societal Democracy puts forth the products of its existance: A whole new class of people who have followed the choreography of their planned destruction like the mindless matrix-living automatons they have become... An army of soon-to-be-dead zombies.

Only one thing can happen to a product like that and if I have to spell out the rest for you; it probably means you can name yourself as part of that amorpheous mass of pablum-eating refuse.

Are you offended? If so, perhaps your ego is more precious to you than life itself. You may get what you asked for; either by actively pursuing the Government to "fix things" for you or (more likely) by fear of actually attempting to address problems directly because you are intimidated by your own lack of ability to measure the problem itself coupled with your belief that the system is too difficvult to reckon. It is not.

"Go ahead; kick that can down the road again" and you can 'party like it's 1999' one more time.

For those of you who can see this obvious template of destruction and are trying to meet the challenges in a sane manner I say 'Kudos' and I'll see you on the other end of this 'Disneyland nightmare rollercoasterride2112.'

Fri, 12/02/2011 - 13:20 | 1939088 cheedleboro21
cheedleboro21's picture

Just think about how much more effective I could be in working out mutually-rewarding solutions with like-minded individuals and organizations;if only I could keep my bruised and insecure personal ego out of the discussion.

Oh, well; I guess I'm doing OK by being here in the first place. It's a good sign, but is it going to be enough and is it still not too late to try?

Half the time I would like to help save some of these fools; but the other half I can't help but feel that they gave up long ago and I just need to learn how to "wave bye bye" and let them go...

Let them keep drinking water out of the tap and let them watch TV until there's nothing left but mayonaise in their ossified brain-pans.

They are an anachronism which has no purchase in this World and they cannot meet the challenges going forward. The welfare state and a hoaxed societal Democracy puts forth the products of its existance: A whole new class of people who have followed the choreography of their planned destruction like the mindless matrix-living automatons they have become... An army of soon-to-be-dead zombies.

Only one thing can happen to a product like that and if I have to spell out the rest for you; it probably means you can name yourself as part of that amorpheous mass of pablum-eating refuse.

Are you offended? If so, perhaps your ego is more precious to you than life itself. You may get what you asked for; either by actively pursuing the Government to "fix things" for you or (more likely) by fear of actually attempting to address problems directly because you are intimidated by your own lack of ability to measure the problem itself coupled with your belief that the system is too difficvult to reckon. It is not.

"Go ahead; kick that can down the road again" and you can 'party like it's 1999' one more time.

For those of you who can see this obvious template of destruction and are trying to meet the challenges in a sane manner I say 'Kudos' and I'll see you on the other end of this 'Disneyland nightmare rollercoasterride2112.'

Wed, 02/08/2012 - 23:14 | 2140418 boogerbently
boogerbently's picture

Paul can't change this corrupt world by himself, but he could be OUR statement that we think he is the first step in the right direction. If for no other reason than to tell the GOP we won't take their corporate stooges any more. Beating the two party gridlock IS more important than beating obama.

I'd also be encouraged to hear more "Vote Them All Out" posts, than caring about which eunuch ends up in the WH.

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