http://www.projectcensored.org/top-stories/category/y-2009/
“Project censored is one of the organizations that we should listen to, to be assured that our newspapers and our broadcast outlets are practicing thorough and ethical journalism.”
— Walter Cronkite
[JR: I especially think in today’s media culture, where everyone has an agenda, we have to be careful about being manipulated!]
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Posted by reinkefj
On Sunday, I heard a caller call into Bob Brinker and point out Ron Paul’s call for the end of the Federal Reserve. Bob went off the deep end on the fellow. The fellow’s point was that Ron Paul had been right on predicting the trouble coming with all these bail out issues.
Bob misstated Ron Paul’s remedy as “Abolish the Fed and return the control of money to the Congress.”
I agree that, if that was what Ron Paul advocated, it would be a terrible idea.
What Ron Paul did advocate was not that but:
http://www.lewrockwell.com/paul/paul53.html
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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.
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So, what Ron Paul advocated was a return to the Constitutional definition of money as gold.
But, no one follows the Constitution anymore.
Sigh!
Sorry, Bob, have to disagree with you on this one.
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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.
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The lack of any competition in the definition of “money” allows the “Sovereign” to adulterate the money supply without the bother of clipping coins, adding base metals to gold coins, or redefining the unit of account. Commodity money prevents the welfare / warfare state from writing itself a blank check. The politicians love the current system just fine. It’s the ordinary working stiff, pensioner, or other non-elite person who pays for their excess.
Wrong, Bob!
Repeal the legal tender laws and watch the free market take off as politicians have to justify the tax burden. It would be the end of their Ponzi schemes. Want to pass a perscription drug benefit, great! Where’s the money for it? Want to wage war in foreign lands, fine! Where’s the money for it?
You want accountability in Congress? Take away their “blank checkbook” given to them by the Federal Reserve!
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2 Comments | GOLDBUG, Ron Paul | Permalink
Posted by reinkefj
Ron Paul Discussing his Bernanke Confrontation 9/24/2008
Like the old Fram Oil Filter commercial, pay for it now or later. Pay now is better in the long run. Don’t bail them out. “Too Big To Fail” is an illusion. Capitalism REQUIRES us to let them fail. TO teach EVERYONE a lesson!
Leave a Comment » | LIBERTY | Tagged: Bailouts, FED, Moral Hazard, Ron Paul | Permalink
Posted by reinkefj
Leave a Comment » | Political | Tagged: Tax Revolt | Permalink
Posted by reinkefj
You are currently browsing the Reinke Faces Life blog archives for the day Thursday, September 25th, 2008.
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FJohn Reinke
Consultant at Technology Legacies LLC
Advisor, Computer Governance Committee at Manhattan College
Editor / Publisher at Jasper Jottings
Greater New York City Area
JJ Positraction JJ Endnotes Downsize DC
Philosophy of Liberty
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Reinke Faces Life 