[Travis McGee]

Check these out:

"I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future."

~~E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928

"Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."

~~Irving Fisher PhD, leading U.S. economist , New York Times, October 17, 1929

"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement."

~~Harvard Economic Society, October 19, 1929

"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan... that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years."

~~R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929

[Etoo]

 

The Federal Reserve recently took emergency measures to cut the federal funds rate by the largest amount in decades.

That move came on the heels of a global stock market meltdown, giving the impression that the Fed takes such actions, in order to "manage" the economy.

But it is a principle of economics that meddling in a free market only serves to cause the kinds of distortions that lead to market bubbles and market busts.

That's why real economic growth in America was greater in the 19th century without the Fed than it was in the 20th century with the Fed.

Fortunately, Congressman Ron Paul has introduced legislation to restore financial stability to America's economy by abolishing the Federal Reserve.

Click here to contact your congressional representative and ask him/her to co-sponsor H.R. 2755.

Thank you,

The John Birch Society