Showing posts with label Federal Reserve System. Show all posts
Showing posts with label Federal Reserve System. Show all posts

Monday, February 7, 2011

You're invited | LewRockwell.com


The historic first hearing of Chairman Ron Paul's monetary policy committee, to expose the Fed as the prime creator of unemployment and so much human suffering, will take place at: 10:00AM on Wednesday, February 9, 2011, in Room 2128 of the Rayburn House Office Building, the main hearing room of the Financial Services Committee. The witnesses include the eloquent Austro-free-market stars Thomas DiLorenzo of Loyola College and Richard Vedder of Ohio University.

The Fed itself, and at least three big banks, lobbied against Ron's chairmanship. Republicans who share their fear of the truth worked with Paul Ryan, chairman of the "Budget" Committee, to schedule hearings with Bernanke at the exact same time as Ron's, to try to diminish the significance of Ron's. Ryan, btw, is the fair-haired boy of the Republican leadership who gave the boring response to Obama's boring State of the Empire Address. Like the Republican leadership, Ryan talks about cutting spending, but that is only a ruse. Ryan is a big-government neocon, and so naturally supported TARP, Bush's prescription drug welfare, his wars, and the empire.

I don't believe this insider trick will work against Ron, because his support comes not from the regime or the Republican leadership, but from the grassroots. I think the Paulians will pack Ron's hearings, and not only to show their support for him against the power elite. These hearings will have huge significance in the fight against the Fed, the fractional-reserve banksters, and other destroyers of our prosperity and freedom. It will also be a lot of fun!

Reposted from LewRockwell.com

Photos: Rep. Ron Paul (R-Texas), chairman of the House subcommittee on Monetary Policy, top left, and Ben Bernake, chairman of the Federal Reserve.

Wednesday, October 1, 2008

What Andrew Jackson might say about the bailout


by James P. Pinkerton

“You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”

Today I turn over my space to Andrew Jackson, the seventh president of the United States, who said these fiery words to a delegation of bankers in 1832:

“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”
The issue back then was the Bank of the United States, a federally chartered institution—sort of a predecessor to the Federal Reserve—that Jackson, ever the populist, strongly opposed. Today, most people agree that a national bank is necessary, but as today’s vote demonstrates, there is no national consensus on transferring wealth from the middle to the top. Good! Let’s hope that principle holds true for a while longer.

Today, the same as back then, big bankers attempt to blackmail America: If you don’t do things our way, exactly as we tell you, then the roof will cave in.

For more on this commentary, go to The Fox Forum

Thursday, July 17, 2008

Nevada businessman stands up to IRS on issue of paying employees in gold


Las Vegas, Nev. - On a 106-degree May afternoon in 2003, government agents raided several establishments belonging to Southern Nevada businessman Robert “Bobby” Kahre. With guns drawn, officials held more than 20 handcuffed workers in the sun without water as agents collected records and other materials.

Kahre hadn’t committed a crime. He had upset the Internal Revenue Service by paying his workers based on the face value of gold and silver coins, versus the market value in the Federal Reserve system (the value of the coins in U.S. paper dollars). Even though the coins were in circulation, displayed a face value, and were regulated by Congress, the IRS’s confusing and endless tax code did not determine how to handle these gold and silver coins if used for payroll. The tax code only references dollars. It does not distinguish between coined money and paper money.

For more on this story, go to Liberty Watch

Photo: Las Vegas attorney Joel Hanson, who served on the Kahre defense team.