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The Secret Criminal Society of the Federal Reserve (pg. 4)
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| Trancer-X |
So what exactly is "lawful" money and can I actually redeem my Federal Reserve notes for it?
| quote: | TITLE 12 > CHAPTER 3 > SUBCHAPTER XII > § 411
Federal reserve notes, to be issued at the discretion of the Board
of Governors of the Federal Reserve System for the purpose of making
advances to Federal reserve banks through the Federal reserve agents
as hereinafter set forth and for no other purpose, are authorized.
The said notes shall be obligations of the United States and shall
be receivable by all national and member banks and Federal reserve
banks and for all taxes, customs, and other public dues. They shall
be redeemed in lawful money on demand at the Treasury Department of
the United States, in the city of Washington, District of Columbia,
or at any Federal Reserve bank.
http://www.law.cornell.edu/uscode/h...11----000-.html |
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| Trancer-X |
Why aren't the IRS and BATF listed in Chapter 3, Title 31, of the United States Code as agencies of the Department of the Treasury for the United States?
Do you have any knowledge (or at least an idea) about this, occrider? |
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| Trancer-X |
I want money with intrinsic value!
Maybe they'll start printing US Notes again when Ron Paul gets elected!
/dream |
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| eROs.au |
I doubt it. A RP presidency will not get rid of the Fed. He has said this many times. If he did something like that it would drastically affect the economy.
He has said though that he would make gold and silver much more competitive. |
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| Trancer-X |
| quote: | Originally posted by eROs.au
I doubt it. A RP presidency will not get rid of the Fed. He has said this many times. If he did something like that it would drastically affect the economy.
He has said though that he would make gold and silver much more competitive. |
Awwww, come on now. If I wanted to hear a bunch of gibberish I would turn on the television.
| quote: | Abolish the Fed
by Rep. Ron Paul, MD
In the House of Representatives, September 10, 2002
Mr. Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. I also ask unanimous consent to insert the attached article by Lew Rockwell, president of the Ludwig Von Mises Institute, which explains the benefits of abolishing the Fed and restoring the gold standard, into the record.
Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve's inflationary policies. This represents a real, if hidden, tax imposed on the American people.
From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.
With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America's exports or the low rate of savings should be enthusiastic supporters of this legislation.
Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of the special interests and their own appetite for big government.
Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.
In fact, Congress' constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true free-market economy.
In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans' standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve.
http://www.lewrockwell.com/paul/paul53.html |
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| eROs.au |
| quote: | Originally posted by Trancer-X
If you have no idea what you're talking about please don't waste our time by speaking ;) If I wanted to hear a bunch of gibberish I would turn on the television. |
I'm Sunsnail posting under eros.au's name. I've been following RP's campaign since before he had a campaign (literally!). :)
Anyway, he states what I said here in this interview at John Hopkin's here:
http://www.sais-jhu.edu/media/sept2...npaul091107.mp3 |
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| Trancer-X |
| quote: | Originally posted by eROs.au
I'm Sunsnail posting under eros.au's name. I've been following RP's campaign since before he had a campaign (literally!). :)
Anyway, he states what I said here in this interview at John Hopkin's here:
http://www.sais-jhu.edu/media/sept2...npaul091107.mp3 |
I'm only at twenty minutes but this is what he's said,
| quote: | | If you want free trade and friendship with countries you have to have a sensible monetary unit. But today we have monetary unit that is controlled by the central banks of the world that allows the politicians to spend money endlessly, allows bubbles to build and then burst and then of course the taxpayer's there to pick up the pieces. That is very destructive to international trade. You can't have good sound international trade when you have fluctuating fiat currencies controlled by central banks in a secret backdoor room where one mention by one man in this country will be held (pause) you know, they will (pause) the financial markets will just hold to find out what word or two or three is said because it can change the markets in hundreds of billions of dollars in one day, (changes voice like he's speaking as a Fed Chairman) "Uhhh, tomorrow I'm going to raise interest rates" (changes voice back and acts kind of surprised) Ohhhh, okaayyy. I mean, this is so far from a free market economy, it's so far from what freedom is all about that it astounds me that American's put up with this (...) |
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| Krypton |
The very anti-thesis of capitalism is centralized control of the economy. I find the Federal Reserve to be the very tool of those who really are in power, the owners of the federal reserve. The people of this country need to take back control of their currency; take it away from international bankers; and as Abraham Lincoln said, "The government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the government and the buying power of consumers. By adoption of these principles, the taxpayers will be saved immense sums of interest."
He also said this..."The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity." |
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| occrider |
| quote: | Originally posted by Krypton
I think you want some sort of academic response or something? |
Yes I do.
| quote: |
OCC, if you don't like videos, here is the anti-fed view in academic writing in the book "HISTORICAL BEGINNINGS . . . . THE FEDERAL RESERVE" which is available in full-text online at the link provided.
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Thank you for providing something that we can intellectually debate in a more meaningful manner on the internet. Of course, I'm going to have to ask you to highlight one (I'm sure there are multiple) topic at a time. Is there any particular chapter that's fundamental to one of your arguments that you want to start our focus on? I would rather not read an entire treatise just as much as I wouldn't ask you to read an entire economics text book.
/sorry for the late reply, just caught this thread now |
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| pkcRAISTLIN |
hey krypton- in your world is there nothing but conservatives and socialists? what kind of economic outlook/understanding is that?
and yes, i want you to pick a particular aspect and argue with occ about it. good luck! ;) you appear so vehement in your beliefs, you should be able to present a proper argument without resorting to videos ad nauseum.
i would like to see you debate economics with occrider just as much as i enjoy reading trancer-x arguing civil engineering with the colonel :)
| quote: |
I find the Federal Reserve to be the very tool of those who really are in power, the owners of the federal reserve |
um, who do you think owns the federal reserve btw?? |
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