ron paul introduces legislation to abolish the federal reserve

[Misesian]

Bradley, maybe you know the answer to this. I'm a bit confused why he entered this legislation, although I think it's great, because he has said several times recently that he doesn't believe we should get out of the Federal Reserve immediately, because it would be too disruptive. As I recall, he recommended legalizing gold for trade, as a first step.

Can you explain?

Oh no, there is a very easy and swift transition to a 100% backed Gold Dollar if we eliminated the Federal Reserve, especially since the Fed is just a private corporation.

I would recommend that you read The Case Against the Fed by Murray Rothbard, the last chapter pretty much explains how a swift an easy transition would occur by eliminating the Federal Reserve. I swear, the Austrian School was simply a gift from the Lord!! To paraphrase the transition it is essentially to revalue the gold stock to equal that of the liabilities from the Fed.

Bottom line is that there's no long-multi year transition needed, and there's much more to be learned about why we have to eliminate these guys and this is a good book to start from. I believe Murray Rothbard is one of Ron Paul's influences.

You're in luck, it's on sale current at the Mises Institute for $7: http://www.mises.org/store/Case-Against-the-Fed-The-P69C0.aspx

Along with The Case For a 100% Gold Dollar too for only $4: http://www.mises.org/store/Case-for-a-100-Percent-Gold-Dollar-The-P64C18.aspx

 

[Bossobass]

College is training, not education in a true sense.

AMEN. People never examine where the text books come from.

I wanted to add another thought that people often bring up.

Q:"If RP gets rid of the IRS and income tax, how will we pay for the services that the government provides that we really need?

A: Every red cent that is collected in income taxes goes to service the debt created by the Federal Reserve. Not one cent goes to services. The only entity that will suffer is the Federal Reserve Bank.

Bosso

 

[AnotherAmerican]

Hidden from college students? College students are the herded masses .... College is training, not education in a true sense.

I wholeheartedly agree. I wasn't trying to put "college students" on a pedestal; I just meant that if a HS grad figures out that something's not right about the economics he learned, and goes to college to "learn" more about the "reality," he gets his head messed up even worse.

The sooner the de-programming begins, the better, was my point. Sorry if it wasn't clear; I just mentioned college students in passing and didn't put a lot of thought into being specific about it. My bad.

 

[mikelovesgod]

Hidden from college students? College students are the herded masses. They suck up all that liberal BS that's shoved down their throats. Most people don't know about the Federal Reserve scam because they weren't instructed to learn about it. Your told what to do, how to do it, and when to do it. College is training, not education in a true sense.

You are 100% right. It's funny how also today's college student thinks there are more intelligent people now than ever before. I think they would be in shock how brain-washed and programmed they are and how they have stopped thinking logically and critically. Even most philosophy students and professors shut down true logical philosophical points in order to continue with the world of BS.

My poor cousin got out of her philosophy course and began a discussion with me because she knew I was a philosophy major. We were discussing objective truth and she said, "Well my professor said there is no such thing as objective truth. There can only be truth with a lower case "t" (variable truths), but none with upper case "T"s." I asked her if her professor believed that statement with a lower case "t" or a big "T", because if its a "t" and not a "T" I'm free to disagree with him on the level of principle and he can't disagree with me because all truths to him are variables. She thought for a second and she said, "I never thought about that."

 

[Bossobass]

Throughout the 80s and 90s we would get cold calls from rookie sales people from the investment houses who were soliciting our cash for investment with their various firms.

I would say the same to each of them:

If you can successfully explain to me the cause of inflation, I will hear the rest of your pitch and start you off with [X] dollars.

They would all immediately perk up saying 'That's easy!" (being fresh out of college and training for their new job) and put pencil to paper drawing the supply/demand graph and reciting their lesson ver batim.

I would then give them a second chance to go off and discover the real answer, then return to explain it to me.

I never had one return with the right answer. Most thought I was simply mistaken in pronouncing their supply/demand price of widgets answer to be incorrect.

Sad.

To abolish the Fed would be an astounding cause for celebration in this country.

Bosso

 

[SeekLiberty]

SeekLiberty:

Put a cork in it, will you.

Yes Mr. "Try to Shut Me Up So I Don't Reveal Your Scare Tactics".

NOT.

Are you having some trouble dealing with the questions I posed at you?

You know, you and a couple others act extremely rude. I'd NEVER, no matter what you said to me... say to you "Put a cork in it, will you."

In spite of your behavior, I still support your Inalienable Right to say it.

I've got your back on your Rights and you shoot your Countrymen down. Sad.

- SL

 

[goldenequity]

The Money Masters

Last Friday, June 15, Ron Paul submitted to Congress the bill To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks and to repeal the Federal Reserve Act.

Why is this so important to Ron Paul?

This 3 1/2 hour film is like a college level course in World Economics and American Civics.

Once viewed, you will understand more about America's predicament than members of the House Banking and Finance committee.

The creators of this important film have given ronpaulaudio permission to stream the video in its entirety and consider Ron Paul to be a National Hero.

 

[hroos]

I did want to mention that a common tactic among legislators is to speak in an open session on an issue and have that speech entered automatically into the congressional record. This record is published annually and delivered to every major public library across the country. This documents is volumes long. So I am not surprised that Ron Paul would speak about the abolishment of the FED it order to maintain the issue somewhere in the public light.

 

[giskard]

Is there an online petition of support for this bill?