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CNBC Analyst: Global Bank, Global Currency Within 15 Years

I found this story over on Prison Planet. I don't like to rely on Alex Jones as frequently as others do. For one, he's recognized so well, he's almost become an ugly caricature. And two, he's not honest all the time. He leaves things out which has me believing that he's delibering lying half the time. He's what some would call a "disinformation plant". He's on the GCN radio network and he borrows satellites from one of the three big television studios, either ABC, CBS or NBC. I'm pretty sure its ABC. So if he's using their satellites then he's pretty much controlled opposition as far as I'm concerned. If the powers that be can't control who they place on television or radio, then they won't allow you on the air.

One last thing, I don't think its very smart to place an expectation date on something that will obviously happen in the future. It's always a failure to predict when something will happen unless of course you have airtight information.

http://www.prisonplanet.com/cnbc-analyst-global-bank-global-currency-within-15-years.html

Head of market analysis for Schneider Foreign Exchange Stephen Gallo told CNBC yesterday that the financial crisis will lead to the creation of a global central bank and a global single currency within 15 years, echoing the call of top globalists who have exploited the problems they created to push for a new world financial order.

Highlighting the significance of the introduction of the Euro, Gallo said that the single currency was “where we are headed globally on a monetary basis over the course of the next 10 to 15 years.”

Stating that one of the things that caused the financial crisis was an over expansion of the money supply on a global basis, Gallo said, “Over the course of the next couple of decades central banks are going to need to pay more attention to what’s going on with the global money supply rather than the money supply just in their own borders,” a necessity that, “might call into question the need for some kind of global central bank or a global central bank that’s united by central banks for bigger monetary areas underneath that global central bank.”

As we have highlighted before, the elite have exploited the problem that they created to push for increased centralization and regulation of the world economic system in the pursuit of a de-facto global financial dictatorship.

British Prime Minister Gordon Brown, EU heads such as Joaquin Almunia and establishment media outlets like the Wall Street Journal amongst many others have all used the economic crisis as an excuse to argue for greater financial power, a “new world economic order” in which control is concentrated into fewer hands - with the IMF and the World Bank enjoying the spoils.

UK Business Secretary and top Bilderberg member Peter Mandelson has also pushed for a “Bretton Woods for this century,” to help build the “machinery of global economic governance”.

Former UK Prime Minister Tony Blair, German Chancellor Angela Merkel and French President Nicolas Sarkozy all made the same appeal at a conference in Paris on the future of capitalism last month.

Merkel called for the creation of a new global economic body under the UN, similar to the Security Council, to judge government policy.

Sarkozy called for a “new world, new capitalism” during his speech, as he commented “In capitalism of the 21st century, there is room for the state.”

Meanwhile, Blair called for a new financial order which he said should be constructed upon “values other than the maximum short-term profit.”

The globalists created the problem of wildly irresponsible fractional reserve banking, the debt bubble and the credit crunch by ceaselessly inflating the money supply and now they are offering their solution to the crisis by posing as the saviors and promising to fix the crisis, but only if complete control of the global financial system be signed over to them.

As Ron Paul, Peter Schiff and their ilk have tirelessly argued, the only way to solve the financial crisis is to allow incompetent banks and companies to fail, not to reward their misdeeds by giving them billions in taxpayer money. The only way to re-capitalize the world is to provide incentives for people to work hard and save money, not by creating more credit out of thin air, which is what caused the problem in the first place.

The globalists’ call for a centralized global economic order has nothing to do with providing solutions to the crisis but everything to do with providing themselves with more power and control over the world financial system.

Watch the CNBC clip below.

Moral of the Story: Don't Help People in Colorado

Injured good Samaritan ticketed for jaywalking


DENVER (AP) -- A good Samaritan who pushed three people out of the path of a pickup before he was struck and injured has been ticketed for jaywalking. Family members say 58-year-old Jim Moffett and another man were helping two elderly women cross a busy Denver street in a snowstorm when he was hit Friday night.

Moffett suffered bleeding in the brain, broken bones, a dislocated shoulder and a possible ruptured spleen. He remained hospitalized Wednesday in serious but stable condition.

The Colorado State Patrol issued the citation. Trooper Ryan Sullivan told the Rocky Mountain News that despite Moffett's intentions, jaywalking caused the accident.

The other good Samaritan was also cited for jaywalking. The pickup driver was cited with careless driving causing injury.

Sullivan says the two elderly women haven't been cited but the investigation is ongoing.

"It's a horrible tragedy," he said.

Sullivan said Moffett and the others weren't in a crosswalk, but said he didn't know why the bus stop was in an area without one.

Associated Press 2009

at least they are honest about it

Additional fun stuff found on boingboing, this time about the UAE and how they plan to ban any negative reporting on the economy. Apparently the UAE is hurting economically as property values plummet in Dubai and the government is trying to ease the collapse into a more tolerable slide. With a law like that possibly on it's way to the UAE, it's easy to complain about how undemocratic a place like that is. Certainly a free society would never allow that to happen. But at least they are honest about it. We don't so much introduce legislation to curtail negative reporting here, we just offer up distractions from the important news. Remember just a few months ago when our economy was crumbling( it still is). Did we hear about it on the nightly news? Yes, to a degree, but we also heard a lot about the election, which was acceptable because elections are important, and we also heard a lot about some idiot in Illinois who tried to sell the current presidents Senate seat. And while there are some lessons to be learned there, it really wasn't that big of a deal, and it certainly didn't outweigh the importance of a collapsing economy. I'd almost rather we just ban negative reporting on the economy instead of playing this stupid game of "what's more shocking than our country going to shit oh yeah some douchebags corruption scandal don't look over here look over there wink wink" bull shit.

here's something different

With gold selling for around $970 per ounce, some people are selling off their jewelry at gold selling parties. I found this story over at boingboing, and it seems like a good plan if you feel like you must dump your gold valuables (better than that $forGold scam). Apparently you can host a party and take a percentage of the sales and whoever buys the gold on site tests it and appraises it and pays out about 65% market value. Not bad considering the alternatives of pawn shops or other less than reputable buyers. Although considering some of the previous posts here regarding the artificial suppression of gold prices, 65% of a bogus price point doesn't sound so great. Gold has definitely been trending upwards over the last 10 years, makes you wonder what an unsuppressed price would be right now.

Filthy Jew of the Year Award

And the Filthy Jew of the Year Award goes too.....

.....Alan Greenspan!!!!!!!!!!!!!!!

He receives this award for making the suggestion that we nationalize the banks!

Thank you Greenspan for destroying the global economy! Blame has never been so deservedly concentrated onto the shoulders of any one man. Rot in Hell and may your suffering be severe and eternal!

And to anyone who may think my comment antisemtic: I don't care.

I'm that pissed off.

Peter Eric Hendrickson on Tax Reform

The Willingness Of Some People To Trade Liberty For Convenience Is Without Limit

An astonishing number of Americans continue to call for the enactment of a "national sales tax" (such as the so-called 'Fair Tax'). These poor folks have let themselves be suborned into thus endorsing the notion that the federal government has a legitimate claim on an unlimited portion of every American's personal property-- enforceable by one means or another-- in exchange for nothing more than being spared getting a headache filling out a bunch of tax forms each year (or going to the trouble to learn the truth about the law).

Understand, the sole "benefit" pitched by boosters of this shell-game "reform" is that the individual paperwork burden would diminish. Everyone would still have just as much of their property taken. What this is really all about is distracting Americans from consideration of the real issue-- that is, who actually has a lawful claim to all that money-- by dangling a minor symptomatic relief in front of them. It is with these folks in mind that I offer the following comments...

Regarding Tax "Reform"

"Every reform is only a mask under cover of which a more terrible reform, which dares not yet name itself, advances."
-R. W. Emerson

Now that the current income tax structure has been deciphered and revealed to be benign in 'Cracking the Code- The Fascinating Truth About Taxation In America', it falls to all of us to actively and strenuously resist any attempt by the tax beneficiary crowd to replace that structure-- which they are coming to recognize as fatally compromised, for their purposes-- with an alternative, such as a national sales tax or value-added tax. Such alternatives-- all of which would seek to maintain spending at or near current levels-- would quickly be riddled with exceptions, special-interest pay-offs and so forth; as well as the subsidies and associated means-testing necessary to forestall what would otherwise be an intolerable burden for the poor. They would quickly become indistinguishable from the current regime in complexity, bureaucracy, and injustice. More importantly, depending upon how such an alternative was instituted, we might never be rid of it.

After all, a broad-based federal sales tax or VAT-- which would be functionally involuntary in nature (thus, direct), and would lack any effective connection between the federal government and the object of the tax as well-- is just as much prohibited by Article 1, Section 9 of the Constitution as is the general tax on receipts that most Americans misunderstand the income tax to be, and thus would be unconstitutional without an amendment. However, with the income tax having been broadly misunderstood-- and thus obnoxiously misapplied-- for so long that many Americans have reached an, "Anything but this!" attitude, there is every danger that the general public could take the position that if a Constitutional amendment would rid us of that current regime, then so be it.

Should that happen, not only would we abandon an existing statutory structure which, as actually written, is dramatically better than even the wildest promises made by those who tout "reform", but the evils we suffer under today-- by virtue of mere ignorance, something easily remedied-- will become evils we suffer from tomorrow with no remedy available at all. Thus, calls for such reforms really amount to efforts to better secure the benefits enjoyed by clients of the state under the current mis-administration of the existing law.

Some will argue that, since the income tax-- if administered as actually provided for in the law-- can't bring in nearly as much revenue as is delivered to government under the current reign of misunderstanding, a replacement such as one of those touted by the "reformers" is unavoidable, whatever its faults. This is simply not true.

Even if current levels of spending are deemed desirable or necessary, the Constitution has always provided perfectly adequate methods by which the money can be raised. There is no limit to the size of a lawful apportioned direct tax-- and such a tax can be sought as often as circumstances require. A revenue tariff is also available, and capable of bringing in very large amounts indefinitely. These are the methods provided for by the founders, and they are quite sufficient. They also happen to be far more accountable and politically rigorous than the open spigot of money into the federal coffers that the mis-administered income tax has become, and thus far less desirable to the political class.

In fact, one of the most pernicious political-accountability-evasion aspects of the mis-administered "income" tax enjoyed by the state under the current regime-- the concealment of the true tax burden by means of the "withholding" system-- would be exacerbated enormously by a national sales tax, or VAT. "Withholding" arranges things so that most Americans never really perceive the total amount being extracted from them by the state. Instead, most quickly become unconscious of the degree by which their earnings are incrementally diminished over the course of each year (precisely as was intended by the system's designers), and actually celebrate the return of a pittance each spring in the form of a "refund". Under a sales or VAT tax, the amount extracted is broken into vastly smaller incremental hemorrhages guaranteed to quickly slip under the radar screen and remain there.

One of the awkward realities of life is that the freedom of the people, and the convenience of the state, are generally mutually exclusive. We can provide for only one or the other. I know which one I choose, and with no second thoughts at all, even if inconveniencing the state should occasionally prove to inconvenience me as well. I have the benefit of the trenchant words of Thomas Jefferson to help me keep things in perspective: "I would rather be exposed to the inconveniences attending too much liberty than those attending too small a degree of it."

I hope that everyone will join me in vigorously oppose all efforts at "tax reform", and instead, dedicate themselves to the support of simple, lawful taxation, as provided for in the Constitution.
Peter E. Hendrickson

Gold Rush 21

Central Bank Manipulation of the Gold Market

In a video posted on YouTube, date unknown except for its post date, Congressman Ron Paul pressed Fed Chairman Benjamin S. Bernanke with the question “does the subject of gold ever come up in your conversations?” Bernanke responded, “Only in terms of the sales the central banks are planning.” This is a revealing statement because it sheds light on a continuous conspiracy perpetrated against the American people. Its origins can be traced all the way back to the 1980s. In January 1995 the Federal Reserve’s general counsel J. Virgil Mattingly told the Federal Open Market Committee that the Exchange Stabilization Fund had began performing “gold swaps.” The then Federal Reserve Chairman Alan Greenspan testified before Congress in July 1998 that "central banks stand ready to lease gold in increasing quantities should the price rise".

In setting up the National Economic Council, President Barack Obama appointed Lawrence Summers to the position of Chairman. The appointment is significant to mention because Lawrence Summers is one of the principal actors in this conspiracy. Beginning with his article Gibson's Paradox and the Gold Standard, which he cowrote with Robert B. Barsky in 1988 and which later evolved into Robert Rubin's Strong Dollar Policy implemented under President Clinton, both Barsky and Summers concluded in order to convince the public the purchasing power of their currency wasn't depreciating it was necessary for the banks to reduce their interest rates by suppressing the natural buoyancy of gold's worth. Said differently, to keep confidence alive in America's faith-based fiat currency system, Barsky and Summers determined it would be necessary to suppress the dollar price of gold in their favor by flooding the paper gold market with futures to extend the longevity of USD hegemony.

Bill Murphy, former starting wide receiver for the Boston Patriots and former futures trader, established Le Metropole Cafe after Long-Term Capital Management (LTCM) exploded and went short 300 tonnes of gold. He went on to form the Gold Anti Trust Action Committee, a.k.a. GATA in January 1999, six months after Greenspan's testimony, with Chris Powell, managing editor for the daily newspaper the Journal Inquirer. The purpose of this Committee was and still is to expose the central bank manipulation of the gold market by the participating key figureheads at Goldman-Sachs, J.P. Morgan-Chase, Bank for International Settlements (BIS), International Monetary Fund (IMF), the Securities Exchange Commission (SEC), the Exchange Stabilization Fund (ESF), the Commodities Futures Trading Commission (CFTC), the Counterparty Risk Management Group, the President's Working Group on Financial Markets (PPT), and finally, the Federal Reserve System as well as many others.

Soon Murphy, Powell, et al concluded that central banks were using gold as a dual posted asset by double-counting their gold reserves. James Turk would humorously quip at the 2005 Gold Rush 21 Conference that:

Not only are central banks guilty of disinformation, deception is one of their most frequently used tools. The history of banking is replete, with examples that are not just a lack of disclosure, but rather outright deception. To give just but one example, look today at how they account for gold loans. They carry gold in the vault, and gold out on loan as one line item. In effect, they are saying they are above Generally Accepted Accounting Principles and that they can as a result report cash and accounts receivables as one in the same thing. Accounting like that would make even the people at Enron blush.

With an annual supply/demand deficit somwhere between 1500-1800 tonnes (it may be even higher now), central banks have to fulfill the gap by suppressing the gold price through the surreptitious dishoarding of their gold reserves. GATA estimates the gold cartel has clandestinely lent out more than 16,000 tonnes of gold from the coffers of the central banks out into the open market where the precious metal is sold by bullion dealers who the central banks had leased the gold to. By doing this, the gold cartel created what GATA calls a "gold carry trade." A contract had been created between the central banks and the bullion dealers. The bullion dealers were allowed to do with the gold what they wished, but because the central bank had leased the gold to the bullion dealers at one percent, or marginally within range, they had to within a certain time period give back the central banks the gold that was loaned to them if it had to be mined from the earth to do it. If at the end of contract the bullion banks couldn't pay up, the central banks would renegotiate the terms and extend the time period.

The gold cartel's price-capping rule began at $6 USD, where interventions would be made in the open market to knock down the gold pirce if it rallied anything above a $6 USD/oz gain within a 24 hour session. It is unknown to the author of this blog article where the price-capping rule is currrently set at, but it's reasonable to conclude that since it has abandoned the $6 USD price-capping rule the gold cartel may be losing its control.

On September 26, 1999, fifteen central banks united together under the Washington Agreement, a declaration GATA feels was an admission to price-fixing collusion. The names of these fifteen banks go as follows: Oesterreichische Nationalbank, Banca d'Italia, Banque de France, Banco do Portugal, Schweizerische Nationalbank, Banque Nationale de Belgique, Banque Centrale du Luxembourg, Deutsche Bundesbank, Banco de Espana, Bank of England, Suomen Pankki, Der Nederlandsche Bank, Bank of Ireland, Sveriges Riksbank, and the European Central Bank.

In May 2000, GATA sent five delegates to Congress who made a 45 minute presentation to the House Speaker Dennis Hastert. The GATA delegates presented a document to every member of the Senate and House Banking Committees called Gold Derivative Banking Crisis. This document compiled all the information they had gathered from their investigations up until that point.

Blanchard & Company filed lawsuit against J.P. Morgan and Barrick Gold on charges of gold suppression. At a U.S. District Court in New Orleans on February 28, 2003, Barrick Gold confessed to the charges, but cited the Foreign Sovereign Immunities Act as a reason to dismiss the case. Chris Powell explained: "Barrick claimed that in borrowing gold from central banks through Morgan-Chase, Barrick became the agent of central bank policy. And that as the agent of central banks, the company could not be properly sued without suing the real parties and interests, the central banks as well. And that, since the central banks as agencies of sovereign governments have immunity and could not be made party to the Blanchard suit, the whole suit should be dismissed."

Because gold has not been audited by the United States since 1955 during the Eisenhower Administration, market analysts who study this phenomenon are blinded by the central banks' fraudulent double-counting. Murphy and party have calculated that the central banks have less than half the gold they say they do in their vaults. Mining supply is going down, and demand continues to rise, and the central banks will soon find themselves pincered into delivering on promises they cannot honor.

Paul Supporters Lead Fight to Restore State Sovereignty in Oklahoma

This story is just too awesome not to post.

Oklahoma City – For far too long, the 10th Amendment to the U.S. Constitution has been known as the forgotten amendment. With power grab after power grab, Congress has slowly eroded the rights of states to keep powers not specifically granted to the federal government.

As more and more citizens and state legislators across the country begin to realize that this loss of states rights is at the core of many of our nation's problems, those legislators have set out to stop the out of control Congress and restore some sense of sanity and constitutional protections to the individual states.

On February 11th, Oklahoma became the first state to act on legislation to do just that. This action was directly brought about by a Ron Paul supporter, and it is Campaign for Liberty members that will see this battle all the way through.

You see, the 10th Amendment in our nation's Bill of Rights has long been despised by our big government foes. That amendment was drafted to enshrine in the Constitution what the Founders and the original states already knew: any power not expressly given to the federal government is kept by the states and the people. Although a lot of freedom-minded individuals have long fought for full compliance with this amendment in modern times, there has been a void of leadership and a lack of focused action - until now.

That void has been filled by the formation of Campaign for Liberty, which was born from Ron Paul's galvanizing 2008 Presidential campaign.

Campaign for Liberty is fighting in state legislatures across the country and in Congress to preserve and restore constitutional rights to all citizens, to subdue an out of control federal government, and to win back our lost freedom.

The fight in Oklahoma is a great example of the kind of battles we face in the next stages of the Ron Paul Revolution.

With the support of Dr. Paul's activists throughout the state, the Oklahoma legislature has taken up a vital bill to put Congress in its place and to remind it that there are limits to federal power.

This past Wednesday, the Oklahoma House Rules Committee unanimously supported House Joint Resolution 1003 (http://webserver1.lsb.state.ok.us/2009-10HB/HJR1003_int.rtf), which expresses the sovereignty of the State of Oklahoma and clearly calls for an end to unconstitutional federal government mandates.

Representative Charles Key (R-Oklahoma City), the sponsor of this bill, has spearheaded a national movement to put the federal government on notice that the separate states are sick and tired of having their actions dictated by Washington, D.C.

Rep. Charles Key is a supporter of Dr. Paul – in fact, he was the first elected official in Oklahoma to endorse Ron Paul's candidacy for President (http://www.youtube.com/watch?v=aa5sCO-3ly0) because of Dr. Paul's strong support for the US Constitution.

Oklahoma IS an example of how the R3volution is leading the battle to restore constitutional rights and freedoms to our citizens. The fight to reclaim our Republic and restore our Constitution is just beginning, and, with the continued efforts of Campaign for Liberty members all across the country, it is a fight that we can and will win.

Kirk Shelley

Oklahoma Interim State Coordinator, Campaign for Liberty

2008 State Coordinator, Ron Paul for President

Congressman Michael Capuano Launches Tirade Against Bank CEOs

It's been my firm belief that the Wall Street Gang should be prosecuted to the fullest extent of the law for what they've been doing in the markets for the past fifteen years, interrupting the natural flow of the free market in the manner that has been executed. I wouldn't mind if they served life sentences and perhaps even received the death penalty. A person has to be pretty pissed off at someone for a want of the death penalty when that person is naturally against such a penalty.

These people are parasites, the ones who lobby for the close business relationship between bank and government seeking out the mutual benefits that occurs from such a relationship.

The CEOs of the banks appeared before the House Financial Service Committee today and Jesse makes a very good point over at his own blog that I feel I wanted to bring to the attention of this blog. The Democrat from Massachusetts, Michael Capuano was possibly the highlight of the day when he appropriately railed against these mother fucking bastards.

As much as I love Ron Paul and his idiosyncratic way of waxing philosophic, branching off into soliloquies as he does so many times, I wish he would be more aggressive towards the Fed and Wall Street like Congressman Louis. T. McFadden.

canary in the coal mine for what's in store for our country, no, not likely

Interesting piece over at Alternet, by Joshua Holland, where he wonders whether or not America will eventually get fed up enough with the current economic crisis to actually start doing something tangible about it. I don't believe he's encouraging a violent response from citizens, just kind of questioning why there hasn't been one. And it's a good question, with the economy crumbling before our eyes, why hasn't there been a more organised response. Maybe there was, a large part of Obama's victory in the election was due to the economy being crap. That's really not the same as revolution though. Holland says that the American public has been cowed to such a degree that an overt response to government failings just aren't possible in this country. I believe him. This country deals in fear better than most. Because it's ingrained and imprinted on each and every one of us. It's accepted and admired when people are lockstep with authority. Tow the government line and you are a patriot, side step just a bit and you are anti-american. It's not really even surprising that there hasn't been some sort of opposition to the status quo. The status quo is what we are all taught in school and on TV and on the radio and just about everywhere else we look. True individualism is dealt with by elevating that individual to obscure celebrity status, where one cannot hope to relate to that person due to their riches and fame, or they are marginalised into oblivion on the fringes of society. Everyone you know is exactly like everyone one else that you know, and that is control. Revolution, in this country, will never happen. Not one brick at a time or all at once. Things may change, and there may be large swings in the way things are done, but it will not be due to those changes being better for the people of our country, no it will be due to those changes being a better means to control the people of our country and the powerful being insightful enough to co-opt those changes to insure their continued control.

a clip from Countdown where Olbermann obliterates Cheney

Visit msnbc.com for Breaking News, World News, and News about the Economy

Well done.

The Federal Reserve Board Abolition Act

The Honorable Congressman Ron Paul's legislation piece, The Federal Reserve Board Abolition Act, can be accessed here. You can read a summary of the Act and you can also read the Act as well as download a PDF file version of it.

I don't expect this will receive much attention except from perhaps Congressman Dennis Kucinich (D-OH).

The Democrats have control of the House. Will they prove their rhetoric and support dismantling the bankers' cabal? Or is their supposed "hatred of capitalism" a smoke & mirrors ruse?

Before the US House of Representatives, February 4, 2009, introducing the The Federal Reserve Board Abolition Act, H.R. 833.

Madame Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve's inflationary policies. This represents a real, if hidden, tax imposed on the American people.

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.

With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America's exports or the low rate of savings should be enthusiastic supporters of this legislation.

Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of special interests and their own appetite for big government.

Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.

In fact, Congress' constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true free-market economy.

In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans' standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve.

Ron Paul Grills Fed Governor 1/13/09

I'm usually pretty good at keeping abreast with The Good Doctor. This one slipped under my radar.

I do have a tendency to hesitate to post videos because not everyone has a high speed internet connection. I think it's important for the readers of this blog to get as much information out of this as they can.

The important section of the video comes at the end.



I wanted to transcribe the most important part.

Hon. Paul: ....you give us the kind of information that you want us to have. I've been on the Financial Services Committee for a long time, but would you invite me to the FOMC meeting? That's something that we get the minutes later on....

Kohn rudely cuts him off, in my estimation, but then what he said next should set off fire alarms in anyone's mind.

Vice Chair of the FRBG, Donald Kohn: You get the transcripts after five years, and you get the minutes after three weeks. I think opening the Federal Open Market Committee to the public would greatly inhibit the discussion in that committee meeting. I think that it would promote financial speculation and would impinge on making good decisions.

By deciding to not publish the minutes and transcripts for public review within the allotted time that decisive action could be taken to halt any kind of future problems that occur, the Federal Reserve is obstructing justice, declaring itself above the law.

Government Regulators aided IndyMac cover up, maybe others. (repost - fixed)

I'm requesting in this post that someone who has administrative rights to this blog, whether it be Shane or Toona Fish, add another important link to our list. This one is Jesse's Café Américain.

I'm reprinting here one of his articles that I feel should be carried on this blog because of the scale of possible implications the story could involve.

Jesse's commentary follows after link:

US Treasury Department Official Allegedly Aided and Abetted Banking Fraud (Again)
Dated: January 16, 2009.

Darrell Dochow earns $230,000 per year at Treasury in banking regulation. He reportedly gave Indymac some suggestions on cooking their books, and then allowed the exception to the rules to accomplish it. It appears to have been a blatant and obvious accounting fraud.

Mr. Dochow is also the official who presided over the Lincoln Savings and Loan scandal. Having looked into Charles Keating's eyes and seeing him a good man, he reportedly overrode the protests and findings of fraud from the banking experts. After his S&L debacle he was apparently demoted, but brought back into a position of importance under the Bush Administration. All the details on this have not yet been made public.

Mr. Dochow is unlikely to do any prison time, but may lose his job. That is because this is 'criminal with a small c' according to this news report.

When this sort of behaviour becomes criminal with a 'capital C' and when people like Dochow find themselves on the business end of FBI probes and Justice Department indictments at least as serious as the one mounted against Eliot Spitzer and his hooker, we might make some approach to honesty and reform in this country.

Ok, Obama Administration, the buck is on your desk now. Time to take meaningful action to back up the rhetoric.