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Absolutely On Target

Posted by keelynet on February 27, 2009

Thanks Ken, I couldn’t agree with this more…how so many can be so shallow and blind as to not see this before putting him in office. It’s all about ego, media attention, adulation seeking, greed and empowering ever bigger government.

george450

Uprising against the FED – Thomas E. Woods Jr. claims there is a popular uprising coming against the Fed. I don’t believe it, although I wish it were true. “The way Ron Paul tells it, his more than 30 years of speaking and writing about money, inflation, and the Federal Reserve System attracted only limited interest outside libertarian and constitutionalist circles.

The subject, and Paul as its spokesman, were scarcely to be found in the media, even–or perhaps especially–on the business networks. But Paul’s 2008 presidential bid changed that. Suddenly the Fed was on the table for discussion for the first time since Congress established it in 1913. With Paul making the evils of central banking and fiat money a theme of his campaign, the issue took on a vigor that few expected. Even calling for the Fed’s outright abolition was longer unheard of on the television news networks.”

But that’s a long way away from actually taking away the fed’s power. While I applaud the sentiment, it won’t do any good if we simply turn around and give our populist Congress the power to inflate the money supply. They don’t know anything else. Congress would simply appoint a money Tzar from Wall Street and nothing would change.

Now, Ron’s Campaign for Liberty is calling for an End The Fed day, hoping to cause a banking crisis that will force Congress to act: “On April 17th – beginning at midnight EST – supporters of the Campaign for Liberty’ and of the campaign to END THE FED will join together to trigger a first in a series of ‘bank runs’ in hopes of overwhelming the Federal Reserve’s ability to continue its propping up of our nation’s bankrupt financial system.

“The goal of this project is to highlight the need to pass Congressman Ron Paul’s recently reintroduced House Resolution 833 – a bill to abolish the Federal Reserve. We wish to emphasize the need for sound money – backed by gold and or silver.” However, Paul’s resolution only calls for the return of assets to the Treasury. There is no mandate to create a true sound money system in its place.” Now comes the bizarre part:

“All supporters should remove all cash except $17.76 from any bank and withdraw maximum allowable funds from any money market accounts on that day.”

This is really dumb. For most people with anything over $10,000 in the bank this is a real problem. If they took it out in cash, they would simply have to redeposit it when this show is over and have to file paperwork with the IRS for cash deposits greater than reporting limits. Not smart. For even larger amounts, people would simply have to transfer money to another bank–defeating the purpose of hurting the banking system. Someone didn’t think this out very well.

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