Entries Tagged 'Federal Reserve' ↓

by Ron Paul

This past week there has been a lot of discussion and debate on the continuing war in Afghanistan. Lasting twice as long as World War II and with no end in sight, the war in Afghanistan has been one of the longest conflicts in which our country has ever been involved. The situation has only gotten worse with recent escalations.

The current debate is focused entirely on the question of troop levels. How many more troops should be sent over in order to pursue the war? The administration has already approved an additional 21,000 American service men and women to be deployed by November, which will increase our troop levels to 68,000. Will another 40,000 do the job? Or should we eventually build up the levels to 100,000 in addition to that? Why not 500,000 – just to be “safe”? And how will public support be brought back around to supporting this war again when 58 percent are now against it? Continue reading →

The following quotations from Ben Bernanke, Chairman of the Federal Reserve are taken from the transcript of his June 3 speech to Congress. All emphasis marks are mine. The reader should be aware that I have very short fuse when dealing with Mr. Bernanke.  To discover why, please read “Bernanke’s Great Lie – The “Gold Standard” and the Great Depression” for more details.  (emblem) Continue reading →

The following is a message from Alan Greenspan’s “vaunted Federal Reserve” to the “Average Man.”  (Hat-tip to LeMetropoleCafe.com for the lead.)  (photo)

On January 17th, 1978, Federal Reserve Chairman Arthur Burns stated from the meeting transcript (emphasis mine):

“You know, the American public, in contrast to some or many of our politicians–perhaps most of them–is very deeply concerned about inflation. People all over the country have been asking themselves the question:

“What can I do to protect my family? What can I do to protect my children, my family, and myself against the ravages of inflation? And gradually the thought has evolved and is spreading rapidly that, on the negative side, putting money in the bank or a savings and loan account is no protection.

“Buying bonds, Treasury bonds or corporate bonds, is no protection. Buying common stocks is no protection. It used to be a major protection but it no longer is.

“Then what is left? Well, gold or paintings. But the average man cannot invest in gold; he doesn’t know how. It’s not something he’s accustomed to. Likewise with paintings. Continue reading →

When, during the invasion of Iraq, the United States Government issued its famous deck of playing cards with the 52 arch villains of the Iraqi police state, Saddam Hussein’s face adorned the Ace of Spades. If the Obama Administration wanted to engage in a similar public relations campaign for the real estate crisis, the top card should be reserved for Alan Greenspan. FULL ARTICLE

This is the first of several articles on Ellen Brown’s superb 2007 book titled “Web of Debt,” now updated in a December 2008 third edition. It tells “the shocking truth about our money system, (how it) trapped us in debt, and how we can break free.” Given today’s global economic crisis, it’s an appropriate time to review it and urge readers to digest the entire work, easily gotten through Amazon or Brown’s webofdebt.com site. Her book is a remarkable achievement – in its scope, depth, and importance.

In the forward, banker/developer Reed Simpson said:

“I have been a banker for most of my career, and I can report that even most bankers (don’t know) what goes on behind (top echelon) closed doors….I am more familiar than most with the issues (Brown covered, and) still found it an eye-opener, a remarkable window into what is really going on….(Although many banks follow high ethical practices), corruption is also rampant, (especially) in the large money center banks, in one of which I worked.” FULL ARTICLE

This February, Congressman Ron Paul (R-TX) introduced HR 1207, the Federal Reserve Transparency Act of 2009 to audit the FED. When I first reported on it in March, privately I was quite ecstatic that there were 11 co-sponsors, and three were Democrats. Why? Continue reading →

The People’s Republic of China announced a rise in its official holdings from 600 metric tons to 1,054 tons, making the country the world’s #5 holder of gold reserves.  The 600 metric ton level had remained constant since 2003. While a rise of 454 tons sounds like a lot, at $900 USD per troy ounce, this is “only” $13 billion.

The United States has reported the largest reserves – over 8,100 tons, but GATA (the Gold Anti-Trust Committee) reports these holdings may not exist as they are strangely reported as “Deep Storage Gold.”  Continue reading →

July 24, 1998, was an epic day for the global financial system. Federal Reserve Chairman Alan Greenspan stood before Congress’s Banking and Financial Services and testified. This article and the next part will focus on these two testimony excerpts concerning derivative regulation and the gold market. FULL ARTICLE

The US economy as we know it has collapsed. This has happened before, twice, and history is repeating itself again. This is the Third Depression the United States has suffered, and it will be the worst. FULL ARTICLE