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Show ALL Forums  > Politics  > Ron Paul introduces legislation to abolish the Federal Reserve.      Home login  
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 Love Akitas
Joined: 1/7/2007
Msg: 1
Ron Paul introduces legislation to abolish the Federal Reserve. Page 1 of 2    (1, 2)
For those that don't know, the FED is a bad thing.

http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.2755:



Should you be interested and want to find out why your American dollars are pretty much worthless, you can search o the net for "America - Freedom To Fascism" for a little background in this area. It covers it pretty well and is easy to understand.
 Cavalier1968
Joined: 8/4/2006
Msg: 2
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/21/2007 1:43:56 PM
"For those that don't know, the FED is a bad thing."

You state that like it's common knowledge. Many disagree. I read a lot of articles and blogs about this and there doesn't seem to be a consensus either way. I'm not an economist but both sides offered some compelling arguments. I plan to research this a bit more.

I do find it interesting that Paul introduced this bill while on the campaign trail.....maybe he's not so different as his supporters would have us believe. A 10 term congressman sounds like a career politician to me and not the drastic alternative that has been suggested.
 flyguy51
Joined: 8/11/2005
Msg: 3
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/21/2007 1:56:44 PM

A 10 term congressman sounds like a career politician to me and not the drastic alternative that has been suggested.

You ought to study up on him more. He is a career politician AND a drastic alternative. He has alienated most of the people in his party because he doesn't usually play ball with them.
 CharlesEdm
Joined: 9/16/2006
Msg: 4
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/21/2007 2:03:18 PM
Hey if a governer whos father was a president can run as an outsider who can't?
 rory27
Joined: 2/14/2005
Msg: 5
view profile
History
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 2:05:15 AM
The Congress and the FED jerk each other off.

The answer to stagflation is, and will increasingly be, to print money exponentially out of thin air to keep interest rates down so the housing bubble won't implode in a nuclear vacuum of inflation. And, of course, to keep the ever-important investor confidence percolating. Skating faster and faster over thin ice only works for a limited time, though.

Because Ron Paul sees this clearly, and more importantly has the balls to pro-actively denounce it (with positive counteractions), he will be laughed at, marginalized, and/or (if he ever gets presidential momentum [not in the cards, IMO]), attacked viciously.
 Love Akitas
Joined: 1/7/2007
Msg: 6
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 12:36:57 PM
http://www.wealthmoney.org/why.html



Nobody even knows if there is gold in Fort Knox anymore.

And, Freedom To Fascism does make some nice, valid points.
 Cavalier1968
Joined: 8/4/2006
Msg: 7
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 1:14:31 PM
"And, Freedom To Fascism does make some nice, valid points"

There's been an entire thread where bookworm, myself and others explained and documented why the "documnetary" itself and the ridiculous premise these tax protesters base their views on.

Search for "Courageous Attorney Fighting The IRS"
 Love Akitas
Joined: 1/7/2007
Msg: 8
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 1:36:56 PM
"There's been an entire thread where bookworm, myself and others explained and documented why the "documnetary" itself and the ridiculous premise these tax protesters base their views on.

Search for "Courageous Attorney Fighting The IRS""

Seems like the same story of the guy who lives in New Hamshire... the Ed Brown case.
 Cavalier1968
Joined: 8/4/2006
Msg: 9
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 1:47:56 PM
Yep......that's the same Ed Brown who has Alex jones supporting him and hosted a press conference w/ Randy weaver of Ruby Ridge fame. Brown is a kook just like Schiff, Clarkson , and Hovind.
 Love Akitas
Joined: 1/7/2007
Msg: 10
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/22/2007 3:01:31 PM
Yeah, I'm not a big fan of Alex Jones for a few reasons.
 Love Akitas
Joined: 1/7/2007
Msg: 11
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 6/23/2007 8:15:40 AM
This video is a little better than "America - Freedom To Fascism"

http://video.google.com/videoplay?docid=-542082512417844949

Check it out. Educate yourself.
 frogz
Joined: 2/23/2006
Msg: 12
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 8/10/2007 6:01:02 PM
Congressman Ron Paul has been trying for quite some time to get this bill passed not something new because he is on the campaign trail.This was just brought to my attention. There is not a lot of information on this yet, but I am sure more will follow...

Ron Paul has introduced on June 15th, 2007, to the 110th U.S. Congress (2007-2008), H.R. 2755: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve..

To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.

There is not much known, yet, as to the exact wording of this bill, govetrack.us nor thomas.loc.gov have the script of it.

On July 17th, 2003, Congressman Ron Paul introduced H.R. 2778 [108th]: Federal Reserve Board Abolition Act, which had a similar sub-heading: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. This bill was never heard, and after the 2 year session, it got cleared from the books, and never bacame law.

Therefore, what will most likely happen with this new bill is the same as before - they will ignore it for two years, and it will get wiped - UNLESS something can be done to bring more attention to it, in order to cause Congress to actually hear it, debate it, and vote on it. Reguardless, this definitely shows Paul's integrity and courage to keep introducing these types of bills, without any cosponsors, because everyone else is too scared or too compromised.

http://www.govtrack.us/congress/bill.xpd?bill=h110-2755

http://www.govtrack.us/congress/person.xpd?id=400311

http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.2755:

http://www.govtrack.us/congress/bill.xpd?bill=h108-2778

http://www.govtrack.us/congress/billtext.xpd?bill=h108-2778
 NwMke
Joined: 8/1/2007
Msg: 13
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History
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 8/10/2007 6:07:17 PM

"For those that don't know, the FED is a bad thing."

You state that like it's common knowledge. Many disagree. I read a lot of articles and blogs about this and there doesn't seem to be a consensus either way. I'm not an economist but both sides offered some compelling arguments. I plan to research this a bit more.

I do find it interesting that Paul introduced this bill while on the campaign trail.....maybe he's not so different as his supporters would have us believe. A 10 term congressman sounds like a career politician to me and not the drastic alternative that has been suggested..



i for one would like to see which ever blogs you are talking about that make compelling arguments "for" the federal reserve corporation since i have not heard any yet based on my research.
 NwMke
Joined: 8/1/2007
Msg: 14
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History
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 8/12/2007 7:38:13 AM

In my opinion it is worse than the military industrial complex, because without a fractional reserved debt based monetary system there would be a lot less wars. Money Masters is a good documentary about the subject. Check it out on Google Video or YouTube.


Yes that is an excellent vid! and here is some very good research into the conception of the fed res, the unfiltered and unsanitized for public consumption version:

Ok the link is a really long and well referenced and detailed read but if you want esoteric info about our international federal reserve here are a few very short excerpts by comparison:


http://www.apfn.org/apfn/reserve.htm


The Federal Reserve Act

"Our financial system is a false one and a huge burden on the people . . . This Act establishes the most gigantic trust on earth."--Congressman Charles Augustus Lindbergh, Sr.

Congressman Lindbergh said on that historic day, to the House:

"This Act establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The trusts will soon realize that they have gone too far even for their own good. The people must make a declaration of independence to relieve themselves from the Monetary Power. This they will be able to do by taking control of Congress. Wall Streeters could not cheat us if you Senators and Representatives did not make a humbug of Congress. . . . If we had a people’s Congress, there would be stability.

The greatest crime of Congress is its currency system. The worst legislative crime of the ages is perpetrated by this banking bill. The caucus and the party bosses have again operated and prevented the people from getting the benefit of their own government."




SECRETS OF THE FEDERAL RESERVE
The London Connection
By
Eustace Mullins

Dedicated to two of the finest scholars of the twentieth century
GEORGE STIMPSON
and
EZRA POUND

Who generously gave of their vast knowledge to a young writer to guide him in a field which he could not have managed alone.

ACKNOWLEDGEMENTS
I wish to thank my former fellow members of the staff of the Library of Congress whose very kind assistance, cooperation and suggestions made the early versions of this book possible. I also wish to thank the staffs of the Newberry Library, Chicago, the New York City Public Library, the Alderman Library of the University of Virginia, and the McCormick Library of Washington and Lee University, Lexington, Virginia, for their invaluable assistance in the completion of thirty years of further research for this definitive work on the Federal Reserve System.


Federal Reserve proposal was unconstitutional from its inception, because the Federal Reserve System was to be a bank of issue. Article 1, Sec. 8, Par. 5 of the Constitution expressly charges Congress with "the power to coin money and regulate the value thereof.". Warburg’s plan would deprive Congress of its sovereignty, and the systems of checks and balances of power set up by Thomas Jefferson in the Constitution would now be destroyed. Administrators of the proposed system would control the nation’s money and credit, and would themselves be approved by the executive department of the government. The judicial department (the Supreme Court, etc.) was already virtually controlled by the executive department through presidential appointment to the bench.

Paul Warburg later wrote a massive exposition of his plan, The Federal Reserve System, Its Origin and Growth7 of some 1750 pages, but the name "Jekyll Island" appears nowhere in this text. He does state (Vol. 1, p. 58):


JEFFERSON’S OPINION ON THE
CONSTITUTIONALITY OF THE BANK
February 15, 1791

(The Writings of Thomas Jefferson, ed. by H. E. Bergh, Vol. III, p. 145 ff.)

The bill for establishing a national bank, in 1791, undertakes, among other things,--

1. To form the subscribers into a corporation.

2. To enable them, in their corporate capacities, to receive grants of lands; and, so far, is against the laws of mortmain.

3. To make alien subscribers capable of holding lands; and so far is against the laws of alienage.

4. To transmit these lands, on the death of a proprietor, to a certain line of successors; and so far, changes the course of descents.

5. To put the lands out of the reach of forfeiture, or escheat; and so far, is against the laws of forfeiture and escheat.

6. To transmit personal chattels to successors, in a certain line; and so far, is against the laws of distribution.

7. To give them the sole and exclusive right of banking, under the national authority; and, so far, is against the laws of monopoly.

8. To communicate to them a power to make laws, paramount to the laws of the states; for so they must be construed, to protect the institution from the control of the state legislatures; and so probably they will be construed.

I consider the foundation of the Constitution as laid on this ground--that all powers not delegated to the United States, by the Constitution, nor prohibited by it to the states, are reserved to the states, or to the people (12th amend.). To take a single step beyond the boundaries thus specially drawn around the powers of Congress, is to take possession of a boundless field of power, no longer susceptible of any definition.

The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States by the Constitution.


Paul Warburg also is mentioned in J. Laurence Laughlin’s definitive volume, The Federal Reserve Act, Its Origins and Purposes,

"Mr. Paul Warburg of Kuhn, Loeb Company offered in March, 1910 a fairly well thought out plan to be known as the United Reserve Bank of the United States. This was published in The New York Times of March 24, 1910. The group interested in the purposes of the National Monetary Commission met secretly at Jekyll Island for about two weeks in December, 1910, and concentrated on the preparation of a bill to be presented to Congress by the National Monetary Commission. The men who were present at Jekyll Island were Senator Aldrich, H. P. Davison of J.P. Morgan Company, Paul Warburg of Kuhn, Loeb Company, Frank Vanderlip of the National City Bank, and Charles D. Norton of the First National Bank. No doubt the ablest banking mind in the group was that of Mr. Warburg, who had had a European banking training. Senator Aldrich had no special training in banking."26

A mention of Paul Warburg, written by Harold Kelloch, and titled, "Warburg the Revolutionist" appeared in the Century Magazine, May, 1915. Kelloch writes:

"He imposed his ideas on a nation of a hundred million people . . . Without Mr. Warburg there would have been no Federal Reserve Act. The banking house of Warburg and Warburg in Hamburg has always been strictly a family business. None but a Warburg has been eligible for it, but all Warburgs have been born into it. In 1895 he married the daughter of the late Solomon Loeb of Kuhn Loeb Company. He became a member of Kuhn Loeb Company in 1902. Mr. Warburg’s salary from his private business has been approximately a half million a year. Mr. Warburg’s motives had been purely those of patriotic self-sacrifice."

The true purposes of the Federal Reserve Act soon began to disillusion many who had at first believed in its claims. W. H. Allen wrote in Moody’s Magazine, 1916,

"The purpose of the Federal Reserve Act was to prevent concentration of money in the New York banks by making it profitable for country bankers to use their funds at home, but the movement of currency shows


The capability of devising and enacting the "National Reserve Plan", as the immediate result of the Jekyll Island expedition was called, was easily within the powers of the Kuhn, Loeb-Morgan alliance, according to the following from McClure’s Magazine, August 1911, "The Seven Men" by John Moody:

"Seven men in Wall Street now control a great share of the fundamental industry and resources of the United States. Three of the seven men, J.P. Morgan, James J. Hill, and George F. Baker, head of the First National Bank of New York belong to the so-called Morgan group; four of them, John D. and William Rockefeller, James Stillman, head of the National City Bank, and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Company, to the so-called Standard Oil City Bank group... the central machine of capital extends its control over the United States...


The process is not only economically logical; it is now practically automatic."32

Thus we see that the 1910 plot to seize control of the money and credit of the people of the United States was planned by men who already controlled most of the country’s resources. It seemed to John Moody "practically automatic" that they should continue with their operations.

What John Moody did not know, or did not tell his readers, was that the most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic of the United States since its very inception. This power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled



The Hitler Connection

** The New York Times noted on October 11, 1944: "Senator Claude Pepper criticized John Foster Dulles, Gov. Dewey’s foreign relations advisor for his connection with the law firm of Sullivan and Cromwell and having aided Hitler financially in 1933. Pepper described the January 4, 1933 meeting of Franz von Papen and Hitler in Baron Schroder’s home in Cologne, and from that time on the Nazis were able to continue their march to power."

76

force’, namely, Nazi Germany. Norman advised his co-workers to include Hitler in their plans for financing Europe. There was no opposition."

Victor Perlo writes, in The Empire of High Finance:

"The Hitler government made the London Schroder Bank their financial agent in Britain and America. Hitler’s personal banking account was with J.M. Stein Bankhaus, the German subsidiary of the Schroder Bank. F.C. Tiarks of the British J. Henry Schroder Company
67 Antony C. Sutton, WALL STREET AND THE RISE OF HITLER, 76 Press, Seal Beach, California, 1976, p. 79
68 Ladislas Farago, The Game of the Foxes, 1973
 NwMke
Joined: 8/1/2007
Msg: 15
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History
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 8/13/2007 5:21:46 PM
Gotta say one thing for ron "he is the american peoples best friend!!!" and the only one who has guts enough to stand up to the super elitists who are destroying this country in the name of corporatist oligarchy.
 CountIbli
Joined: 6/1/2005
Msg: 16
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 9/2/2007 6:56:51 PM


There is no need for any gold standard... just a need for any gov't to print it's own money and handle it's own financial affairs


I'm all for getting rid of the FED, but allowing Congress to print money would be disastrous. They are fiscally irresponsible and would print so much money to buy votes that we'd see hyperinflation on a scale to dwarf post-WWI Germany. Our money needs to be based on something with value.
 namegame2
Joined: 4/17/2007
Msg: 17
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 9/2/2007 8:22:36 PM

I'm all for getting rid of the FED, but allowing Congress to print money would be disastrous. They are fiscally irresponsible and would print so much money to buy votes that we'd see hyperinflation on a scale to dwarf post-WWI Germany. Our money needs to be based on something with value.


So instead of letting Congress control the value of our money, you would rather it be in the hands of other countries? If we went to the Gold Standard, countries like South Africa and Russia would mine as much of it as they can. Fine. Right now, that just means they have more gold to sell, just another commodity, for whatever price buyers feel like paying. But if the value of a dollar is fixed to a quantity of gold, then the price they get for increased production is fixed. Their wealth will grow, and the relative wealth of countries who do not mine gold will fall.

You might as well peg the dollar to oil.
 HAGAR TH
Joined: 8/10/2007
Msg: 18
Ron Paul introduces legislation to abolish the Federal Reserve.
Posted: 9/3/2007 2:59:40 AM
Congress does nothing for the value of the US dollar.

International markets determine the value of the US dollar based on demand as an investment vehicle and for its relative safety as a currency.

Money is a concept it has no value if no one wants it. Same goes for gold, diamonds, and everything else except maybe food and water and land.

If you abolish the Fed the result would be market instability, inflationary excess and an end to all current military engagements due to belt tightening by the government.

But if you own a Corporation you would see HUGE gains because the corporations would not have pay for the Personal income taxes. In my view they actually are paying my taxes since they give me the money for my work to pay those taxes, as such it would be a windfall for Business. With the extra money business would save it is possible that you would be able to compete globally in the maufacturing sector.
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