Rep. Ron Paul Says He Won’t Push for End to Fed ‘Up Front’

a central bank acts in the interests of the state itself as well as the cronies/financial cartel.

A free people require a non government money, ie a commodity based money supply.
 
the FED has injected 600 billion of newly printed money into the markets via purchasing of bonds.

bank bailouts.

in 1998 fall, the banks did the same with LTCM and the 1999/2000 was a new injection of capital from banks......

this market is fueled in lots of cash...fundamentals don't really matter and the systematic risk doesn't matter. or risk is ignored. as the machines are just buy and nobody is selling.

there is so much complacency that the maarket finds that the fed will always inject cash to support the markets. the fed itself is in trouble from auditing from the gov't..

this is first time in my history that the US FED has openly and candidly say that are printing money to buy bonds and supporting the stocks market ponzi scheme...this has never been pulicly announced in capitalist country, the Fed in previous times like 80's and 90's were in the sideline and never intervened in the stock market or financial markets...

the fed previously only lowered interest rates in recession but never openly make in public that they were actually buying bonds or stocks to prop up markets..this has never been publicly admitted by the fed..the fed has always been separate and let the free market do it's thing than manipulate markets with cash injections to the free market...the free market doesn't want equities and money is still going into bonds,gold etc..the market is always right to buy hence the low volume...the market is too risky. the banks in the US have lost billions of market value via share dilution and risk no dividends and even insolvent of C hence the gov't sold their shares,,there is no capital appreication and no dividend why own it. the gov't can do all it wants by prop up the market like illiquid penny stock. but it's still a house of cards..

the risk is that the FED will run of money and it's balance sheet is worse than the insolvent banks. who will bailout the FED---the american public.

Quote from ASusilovic:

Dec. 10 (Bloomberg) -- Representative Ron Paul, a Texas Republican who next month will take control of the House subcommittee that oversees the Federal Reserve, said today that he will “not really, not right up front” push for an end to the U.S. central bank.

“But obviously that’s the implication,” Paul said in a Bloomberg Television interview on “In the Loop” with Betty Liu. Paul said he was talking about a “transition.”

Paul, author of the book “End the Fed,” said he will emphasize “oversight” of the central bank.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aNTmQQlMrwR0&pos=9
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Quote from 1prometheus:

He does mean what he says, LOOK AT HIS VOTING RECORD.
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No, he doesn't.

He and Shelby had stopped TARP dead in its tracks. When they realized they were going to win, they backed off so the bill could pass...while they voted against it.

Ron Paul would rather vote against bad legislation that passes than have his vote matter by actually stopping that bad legislation.

He is a fraud.
 
If people start calling him a fraud, it will be interesting to see what his reaction is.

His original proposal got a decent number of supporters in the House. He may only be the face of what is a larger call for auditing the Fed's books. The Tea Party candidates seem to be siding with him, so I don't see how the GOP stops it without alienating a big part of the base. Palin has been on Fox recently openly supporting Paul.
 
We should do away with capital gains taxes, so people can exchange their fiat currency for stores of value, without incurring a tax penalty when they sell the stores of value for fiat currency, down the road.

So that way the central bank could try to do all sorts of currency shenanigans, but the people, with a click of the mouse, can escape the inflation and get out of fiat.
 
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