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After 100 Years Of Failure, It's Time To End The Fed!
The Market Oracle, UK ^ | 12/15/2013 | Dr. Ron Paul

Posted on 12/15/2013 6:54:08 PM PST by Errant

A week from now, the Federal Reserve System will celebrate the 100th anniversary of its founding. Resulting from secret negotiations between bankers and politicians at Jekyll Island, the Fed's creation established a banking cartel and a board of government overseers that has grown ever stronger through the years. One would think this anniversary would elicit some sort of public recognition of the Fed's growth from a quasi-agent of the Treasury Department intended to provide an elastic currency, to a de facto independent institution that has taken complete control of the economy through its central monetary planning. But just like the Fed's creation, its 100th anniversary may come and go with only a few passing mentions.

(Excerpt) Read more at marketoracle.co.uk ...


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Government
KEYWORDS: collapse; fed; gold; treasury
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Yes it is. Don't renew its charter.
1 posted on 12/15/2013 6:54:09 PM PST by Errant
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To: Errant

Many problems with the Fed. I do just have to ask is it better to do away with them or just take away their power and then disband them. They have caused many problems and to do away with them at this stage would only cause more.

They are a problem, but after decades, they have to be disbanded slowly.


2 posted on 12/15/2013 7:01:11 PM PST by Deagle
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To: Errant

The fed is not federal or ever was... still isn’t...


3 posted on 12/15/2013 7:01:52 PM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: Errant

Replacing them with what, bitcoins? Bank notes issued by banks? Barter?


4 posted on 12/15/2013 7:03:21 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Errant

BTW Dr. Paul is bugaloo nuts, you know that, right?


5 posted on 12/15/2013 7:03:50 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Deagle

... they have to be disbanded slowly.
***************************
like the department of education?


6 posted on 12/15/2013 7:04:40 PM PST by Neidermeyer (I used to be disgusted , now I try to be amused.)
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To: Errant

Every year it’s the same...They talk about ending the fed, talk about securing our borders...Talk about reckless government spending followed by endless punitive taxes.

Year in, year out...Same thing over and over..and over and over...

Is it not clear those in government have no intention of doing what is right and have no intention of doing things which benefit the American people?


7 posted on 12/15/2013 7:05:52 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: narses; Deagle

Bitcoins or PMs would be a bit too much to hope for. How ‘bout at least Treasury notes???? At least a privately owed bank (i.e., the FED) wouldn’t be skimming 6% off the nation’s debt just for printing money out of “thin air”!


8 posted on 12/15/2013 7:07:26 PM PST by Errant
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To: Neidermeyer

Actually yes...but not as bad as you think. It;s the Unions that need disbanding and everything else will follow. Actually, all government unions should not only be disbanded but disallowed from government contracts. That would do nicely.


9 posted on 12/15/2013 7:08:15 PM PST by Deagle
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To: narses
Dr. Paul is bugaloo nuts, you know that, right?

No, I don't know that. He certainly makes more sense when it comes to the financial state of this nation than most.

10 posted on 12/15/2013 7:10:40 PM PST by Errant
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To: narses

“BTW Dr. Paul is bugaloo nuts, you know that, right?”

then how come when I listen to any politician, whether it is, Obama, Kerry, Clinton, even kantor or Boehner, paul is the only one that appears to be not lying?

I know, the fed mystique was set up such that if you disagree, you’re the nutcase.


11 posted on 12/15/2013 7:10:49 PM PST by willywill
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To: Errant

Bitcoins is a scam and a ponzi scheme. Gold and silver are real money.


12 posted on 12/15/2013 7:11:59 PM PST by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: dragnet2

At best, they’re just kicking the can. At worst, they seem to be trying to bring down the Republic through bankruptcy.


13 posted on 12/15/2013 7:12:14 PM PST by Errant
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To: SVTCobra03
Bitcoins is a scam...

The Biggest Scam In The History Of Mankind

14 posted on 12/15/2013 7:14:57 PM PST by Errant
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To: Errant
Who can argue against the benefits of continuous creation of global market bubbles and crashes...?

Look for the next investment opportunity after our Fed decides to "taper" the current twist ($85 billion/mth inflation).

15 posted on 12/15/2013 7:15:18 PM PST by uncommonsense (Liberals see what they believe; Conservatives believe what they see.)
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To: Errant

Ridiculous. The dollar has been far more stable than it was under the gold standard.

Under the gold standard we had long severe deflationary depressions every 20 years. Since the fed, we’ve only had one depression, maybe two if you count the Great Recession. We’ve had over 80 years of depression free economic growth. That’s not a failure. That’s a success.

People who want to manipulate the currency, or get rich off of gold want to see the FED disbanded. In my opinion, the FED is the only one in washington doing what they are supposed to do.

By law they are supposed to focus on unemployment, keeping the dollar stable and interest rates low. They are having to print because Congress and the President put stupid trade policies in place that have off-shored our industries and caused high unemployment. That’s the right action for the Fed, but it’s like putting a band-aid on a cancer patient until Congress wises up about trade policy.


16 posted on 12/15/2013 7:17:23 PM PST by DannyTN
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To: uncommonsense

The Fed “taper” - don’t hold your breath.


17 posted on 12/15/2013 7:18:04 PM PST by Errant
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To: Errant

For the 135 years before the Federal Reserve, inflation was NEGATIVE 40% for the entire time. Since 1913 inflation has gone up 2300%.


18 posted on 12/15/2013 7:21:20 PM PST by Blood of Tyrants (From time to time the.tree of liberty must be watered with the blood of tyrants and patriots.)
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To: DannyTN
Yeah, the Federal Reserve has been a REAL peachy success story alright - for their owners maybe.

One of the many Rothschild estates:

19 posted on 12/15/2013 7:23:28 PM PST by Errant
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To: Errant

some day Conservatives will realize - the FED is the source of all of what ails the United States. The nationalization of interest rates, the ability to monetize debt, and the ability to print money out of thin air is exactly what keeps the Progressive nanny state alive.

If you end the FED, you kill “progressive” government - and you in turn begin the fix of 1000 social and economic problems with it.


20 posted on 12/15/2013 7:23:41 PM PST by PGR88
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To: narses
Replacing them with what, bitcoins? Bank notes issued by banks? Barter?

How about gold and silver?

A government that can not steal your wages and savings through inflation and can not run constant deficits with FED debt monetization must be a limited government.

21 posted on 12/15/2013 7:25:11 PM PST by PGR88
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To: PGR88

Gold. So your money this year would have lost nearly half it’s buying power. No thanks.


22 posted on 12/15/2013 7:26:03 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Blood of Tyrants
For the 135 years before the Federal Reserve, inflation was NEGATIVE 40% for the entire time.
Right. Deflation was a destructive force.
Since 1913 inflation has gone up 2300%.
And you want to go back to the poverty of 1913? Why?
23 posted on 12/15/2013 7:27:44 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: narses; PGR88
Is The Perfect Storm Coming For Gold?

" Due to western central bank price manipulation, the mining sector is in critical condition, the supply line is all but halted, and the physical supply is being swallowed up by Asia. The last shoe to drop is for major mining companies to start closing down production at major mines. Though this would be perceived as the end for gold, speculators will be happy to know that this would be the beginning of the biggest Fed induced bubble in history! But unlike previous Fed bubbles where they support the price increase, the gold bubble will be a result of western central planners mis-managing the gold price for the past 3 decades and finally losing control."

24 posted on 12/15/2013 7:29:35 PM PST by Errant
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To: willywill
Paul is the only one that appears to be not lying?

Excellent observation. I don't agree with everything Ron Paul says, but he is a straightforward person.

25 posted on 12/15/2013 7:31:08 PM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: Deagle

“They are a problem, but after decades, they have to be disbanded slowly”

Not so...the Fed is an evil piece of American history, and needs to be castrated. A ‘slow disbandenment’ will only entrench them deeper into the quagmire they have created.


26 posted on 12/15/2013 7:32:05 PM PST by GGpaX4DumpedTea (I am a Tea Party descendant...steeped in the Constitutional Republic given to us by the Founders)
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To: Leaning Right

Paul is a twisted nutcase.


27 posted on 12/15/2013 7:34:09 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: All
Watch the dollar index. When it drops below 80, the central banks become desperate to raise it back above that "magic number". One tool they employ is to sell gold futures. One day soon that tool will not going to work any longer, IMO.


28 posted on 12/15/2013 7:35:00 PM PST by Errant
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To: narses

A basket of hard commodities including gold, maybe? Or a percentage mix of hard assets & debt?


29 posted on 12/15/2013 7:38:04 PM PST by Ag88 (Fast is fine, but accuracy is final. - Wyatt Earp)
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To: Ag88

I am OK with dollars, backed by the dent taken on by the American people and supported by a military without equal anywhere. It has served me and mine well.


30 posted on 12/15/2013 7:40:23 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: DannyTN

“By law they are supposed to focus on unemployment, keeping the dollar stable and interest rates low.”

I’m pretty sure the Fed has the responsibility to maintain a stable/strong dollar, and to keep inflation low (not interest rates low).

Everything else is Congress’ responsibility - although they refuse to accept that responsibiltiy.


31 posted on 12/15/2013 7:40:44 PM PST by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: narses
by the federal government... if we're gonna use fiat money, at least we shouldn't have to BORROW IT!!!
32 posted on 12/15/2013 7:40:48 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: narses

dent = debt


33 posted on 12/15/2013 7:43:08 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Errant
Everyone has seen the 100-year US Dollar destruction chart; so here is the 200-year... a century without The Fed and a century with... which would you prefer?

Via Ralph Dillon of Global Financial Data,

Newton’s 3rd law states: To every action there is always an equal and opposite reaction. Sounds pretty simple right?

Except in Government, where for every action, the reaction seems to produce catastrophic consequences for such action. Yet inexplicably, the answer these days to everything seems to be more Government intervention and meddling. You would think that at this point we would have learned from our prior mistakes. Yet the meddling goes on and on and on….because it works so well.

Have you ever considered the true cost of all of this intervention? Think about it. Since the creation of the Federal Reserve in 1913, we have been in perpetual warfare, we introduced the New Deal which birthed Government programs, we eliminated the gold standard, we flooded the market with massive credit expansion, we accumulated massive amounts of debt and have now seen the Government take over 20% of our economy through healthcare. As if all of the prior interventions were not enough, in just the last 5 years, we have had shovel ready, bank bailouts, trillion dollar stimulus, QE 1,2,3,4, operation twist, unemployment benefits extended, car bailouts and crony capitalism that threw good money after bad. What we have gotten is more of the same. More debt, more political posturing and the complete destruction of the dollar and the purchasing power of it. With it, no one is accountable. Not the Government, not the banks, not the private companies but the citizens whose burden it has become to fund all of this intervention.

With the backdrop of other Governement ventures like the USPS and Social Security Administration, what can possibly go wrong with our latest intervention Obamacare? Whether you are for or against it, you have to recognize that this is and will be the mother of all Government interventions. With a horrific rollout, low enthusiasm and a general public that is either unaware or just ignorant to what is truly coming down the pipe, we can only hope that this time it will be different. But consider, that for every word that defines Obamacare, there are 30 more words that enforce it. With 109 new regulations and counting, you have to wonder if this monstrosity of intervention will finally be the straw that breaks the proverbial camel’s back. It surely has the making for it because we have never seen anything like it.

Cost since 1913? Well, the dollar has lost nearly 90% of its value and the purchasing power of that dollar has been eroded considerably.

Below is a chart that demonstrates the destructive quality of Government intervention to 1819:



Link.
34 posted on 12/15/2013 7:43:13 PM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
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To: MichaelCorleone

Read the law!!! Unemployment is listed first.


35 posted on 12/15/2013 7:43:19 PM PST by DannyTN
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To: hosepipe; All
The fed is not federal or ever was... still isn’t...

I agree with you. But I thought it interesting that the Fed also closed when the government closed awhile back.

36 posted on 12/15/2013 7:47:07 PM PST by Amendment10
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To: narses
Paul is a twisted nutcase.

In some respects, yes. But in some respects Einstein was also a twisted nutcase.

Here's my fearless prediction. In one hundred years no honest historian will say "They should have listened more to John Boehner." But historians will say "They should have listened more to Ron Paul."

37 posted on 12/15/2013 7:47:31 PM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: Errant
The fed errs on the side of low inflation rather than deflation because deflation causes depressions. 100 years of consistent low inflation makes a scary looking chart. But it's meaningless to anyone who isn't hoarding cash in their mattress for 100 years.

What is important is the stability of the dollar year to year. And the FED has excelled at maintaining that stability.

Swings of 20% deflation in a year like we had during the gold standard causes depressions. Why invest anything if you can just hold cash and increase your purchasing power due to deflation.

Keep the FED. fire the rest.

And no the Rothchildes don't own the FED. That is easily debunked.

Debunking the Federal Reserve Myths

38 posted on 12/15/2013 7:47:36 PM PST by DannyTN
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To: Leaning Right

So we need to retreat from the world stage, retreat from the modern banking system and embrace a whackjob racist? Sorry, no sale.


39 posted on 12/15/2013 7:49:25 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Jack Hydrazine

Overlay the depressions on that chart and then choose.
And I don’t think the chart is accurate either. It does show some huge year to year swings, but those swings occurred more often than that chart shows.


40 posted on 12/15/2013 7:49:40 PM PST by DannyTN
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To: narses
So we need to retreat from the world stage...

I hear you. Paul is not right about everything, by no means. But he's right about some things, some very important things. And Paul calls it exactly as he sees it. Unlike those kick-the-can bags of mush (Boehner, etc.)

41 posted on 12/15/2013 7:53:49 PM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: Leaning Right

“But he’s right about some things, some very important things.”

Like what?


42 posted on 12/15/2013 7:56:52 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: DannyTN
Debunking the Federal Reserve Myths

Who could ever doubt a paper by:

I'm not sure how accurate the below is now, since it was created in 1976, but I trust it a lot more than something put out by some "progressive" group.

Chart of who "owns" the Federal Reserve

43 posted on 12/15/2013 7:58:40 PM PST by Errant
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To: Jack Hydrazine

” Since the creation of the Federal Reserve in 1913, we have been in perpetual warfare, ... “

As opposed to what? The perpetual peace of the 19th Century?

Is history not your strong suit? Do the Napoleonic Wars and the Civil War, just to name two, not ring a bell?

See http://en.wikipedia.org/wiki/List_of_wars_1800%E2%80%9399 for a small and incomplete list.


44 posted on 12/15/2013 7:59:19 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: narses; Leaning Right
Like what?

Like where the nation is headed because of the mounting debt.

45 posted on 12/15/2013 8:00:45 PM PST by Errant
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To: narses

What the hell are you talking out of your ass for? Are you some DUmmy troll? Why does wanting to get rid of the Federal Reserve equate putting everyone into poverty? Fool.


46 posted on 12/15/2013 8:01:23 PM PST by Blood of Tyrants (From time to time the.tree of liberty must be watered with the blood of tyrants and patriots.)
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To: DannyTN

See http://www.zerohedge.com/news/2013-06-02/its-1-world-who-owns-what-223-trillion-global-wealth


47 posted on 12/15/2013 8:02:29 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Blood of Tyrants

48 posted on 12/15/2013 8:04:45 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: Errant

Nutcase cr*p.


49 posted on 12/15/2013 8:05:31 PM PST by narses (... unless you eat the flesh of the Son of Man and drink his blood, you do not have life within you.)
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To: narses
Like what?

Here's one example. Some here at FR will disagree with me, but I think Paul is correct when he says that we simply cannot be the world's policeman. It is too expensive, and it allows our allies to shirk their responsibilities.

Rome tried to by the world's policeman (Pax Romana). It bankrupted them. Then Britain tried. It bankrupted them. Now it's our turn to be bankrupted.

Another way to look at it is Frederick the Great's "He who defends everything defends nothing." Ron Paul would certainly agree with that.

50 posted on 12/15/2013 8:06:01 PM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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