Ron Paul versus the Federal Reserve: Round 1

Ron Paul finally gets a chance to take a long hard look at all the evils the Federal Reserve’s been up to, and tell us. There isn’t anyone I would trust more to take on this task.

The legislative, judicial and executive branches of our government all answer to us. The Fed does not, and yet it can destroy the economy all by itself (and is working really hard to do just that).

How is it that an entity that acts like a “fourth” branch of our government is not accountable to the people? We don’t get to vote on its members and it refuses to answer the simplest of questions such as, “Which banks received the TARP bailout money?”  And yet, this fourth branch has more power than the other three in its ability to destroy the country. This one “branch,” all by itself, is capable of causing a complete economic collapse…and we the people, have no way to control it or prevent it.

I have argued for the complete eradication of the Federal Reserve countless times. The Constitution does not allow for a National Bank. The two times that our government has attempted to create one, the charter was allowed to expire and the bank was dissolved. In fact, the only reason a National Bank was allowed to exist at all, was because it had an expiration date.

In the early years of our nation, everyone remembered how dangerous a national bank was, and how much power it has to destroy an economy by printing money endlessly providing funds for every war and pet project every politician ever wants while creating inflation and destroying the national currency. It is a way for politicians to tax us, without raising taxes, as the value of our money drops and they print as much as they want to pay for whatever they want.

Nation after nation has long since collapsed due to the creation of a fiat currency (paper money) and then “printing” it endlessly. If it wasn’t defeat in battle, it was defeat in monetary policy that destroyed the greatest empires in history. We are just one, in a long line of great empires dutifully tromping down the same monetarily destructive path. The end will be the same, war or worthless money.

In 1913, amid a cloud of controversy, the current Federal Reserve was created (with no expiration date) and it has helped create every economic catastrophe we have had ever since.

We have been born into an America where a National Bank has always existed and we’ve never been taught that it has ever been any different. The truth is, we don’t need a Federal Reserve and for most of early American history, we didn’t have one, so we need to get rid of this one.

With the current Federal Reserve, all the Founders fears have now been realized.

I read Ron Paul’s book, End The Fed last year. To learn more, I strongly recommend it.

Ron Paul taking on The Fed in 2011 (jump to 2:30)

Ben Bernanke telling the American People “No” we won’t tell you who got your money (jump to 1:04 if you like)

Categories: Federal Reserve, National Debt, Taxes

Tags: , , , , , ,

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