Sunday, September 28, 2008

Ron Paul: Greenspan, Bernanke Should Be Criminally Charged



Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.
Ben Bernanke
***

Two analysts who have reconstructed money supply data after the Federal Reserve - a private corporation - stopped publishing it argue a coming dollar collapse will set the stage for creating the amero as a North American currency to replace the dollar.

The reconstructed M3 data – the broadest measure of money – published on econometrician Gary Kuever's website, NowAndFutures.com, shows M3 increased at a rate of 11 percent in May 2006, compared to 9 percent when the Federal Reserve quit publishing M3 data earlier that year.


Asked why the Fed decided to stop publishing M3 data, Kuever told WND, "The Fed probably wants to hide how much liquidity is being pumped into the market, and I expect the trend to keep pumping liquidity into the market will continue, especially since the economy is slowing down."

Update September 29, 2008: The House of Representatives rejected the criminal, unconstitutional "bailout" plan (there is a God), so the Banksters are plunging our investments in retaliation.

24 Comments:

At 2:06 AM, September 29, 2008 , Blogger Mahndisa S. Rigmaiden said...

09 29 08

II:
I had been wondering when you would post on this issue. I agree that someone should be charged for neglecting and blowing up our economy but if Greenspan and Bernake get charged, those Wallstreet assholes who were doing naked short selling and truly gambling with their investors' funds should also be charged. Also the CEO's of Countrywide Mortgage, WaMu and yada yada yada.

I have asked myself what is the difference between a 'nigga' gambling on the corner shooting dice and those folk on Wallstreet. The only difference is the general ethnic demographic and that the government sanctions one type of gambling and is repulsed by the other. Yeah one is hustling at a higher level than the other!

The government should be consistent on this issue; either all gambling is illegal or all gambling is legal but none of this in between crap!

 
At 10:34 AM, September 29, 2008 , Blogger Intellectual Insurgent said...

I have asked myself what is the difference between a 'nigga' gambling on the corner shooting dice and those folk on Wallstreet.

Ok, that's just hilarious.

And such a good comparison. Have you seen the online movie Zeitgeist? If so, what did you think of it?

 
At 5:28 PM, September 29, 2008 , Blogger Mahndisa S. Rigmaiden said...

09 29 08

No II I didn't see that movie, but sounds like a good suggestion. Thx.

 
At 5:36 PM, September 29, 2008 , Blogger Intellectual Insurgent said...

www.zeitgeistmovie.com

I would love to hear your thoughts on it. Particularly part III.

 
At 12:23 AM, October 09, 2008 , Blogger Mahndisa S. Rigmaiden said...

10 09 08

II: I watched most of Zeitgiest before I got so damned depressed I quit!

It is eerie and the way they explain how our financial system is based upon selling debt was all too real.

There needs to be a serious paradigm shift in how we run our marketplaces. For one, money should be tied to something of material worth. Because in the end, selling debt is selling monetary deficiencies! Ain't that crazy?!!!

 
At 8:07 PM, October 14, 2008 , Blogger Intellectual Insurgent said...

Did you watch the Addendum or the Movie?

I just watched the Addendum tonight and that is, almost entirely about the financial system. Crazy. It's really nuts when you think about the fact that it is impossible to get out of debt with the way the current system is structured.

 
At 3:12 PM, November 11, 2008 , Blogger Free Agency Rules said...

Again you are "spot on."

Inflation is defined correctly as "too much money chasing too few goods."

Notice that there are only TWO components of inflation, 1 - Money, and 2 - Goods.

The goverment is the one who controls how much money (M3), there is in circulation at a given time and therefore the main controller of inflation.

Businesses do not contribute to inflation unless they produce less goods, not by raising their prices.

People only have a finite amount of disposalble income, if the price of one thing goes up, then the consumer must cut back somewhere else. Pretty straight forward!

FAR.

 
At 3:16 PM, November 11, 2008 , Blogger Free Agency Rules said...

Mahndisa,

Yes, Money "was" tied to gold in the past for the express purpose you mention.

When there is no gold or silver backing currency the crooks, (goverments), get to print bad money.

FAR.

 
At 3:49 AM, November 12, 2008 , Blogger Intellectual Insurgent said...

Here's what's really terrible about it all though -

our government does not print the money. The Federal Reserve does and it is not our government. It loans the dollars that it prints to our government with interest. It is a debt cycle from which we can never escape - only implode. Which is what we are currently witnessing.

 
At 8:31 AM, November 12, 2008 , Blogger Free Agency Rules said...

Right on! I have studied this as a hobby for 8 years while I was going to college.

The government should not be paying for the printing of the money but you are exactly right that they are.

In reality it is just a bookkeeping entry that the FED puts on its ledger that the Government has "X" amount of funds in their banks, but the "money" actually doesn't exist.

It is the cruelest of all taxes...INFLATION, because it hits the poor just as hard as anyone, since everything goes down in value, (costs more), because the money is "worth less."

We need the Gold Standard to keep the robbers. (government), honest.

FAR.

 
At 9:06 AM, November 12, 2008 , Blogger Intellectual Insurgent said...

Have you read about the Amero? If so, what do you make of it?

 
At 10:38 AM, November 12, 2008 , Blogger Free Agency Rules said...

Well first of all, the old saying..."Where there is smoke, there is usually fire", is certianlly true.

It is a possibility and people with an open mind must at least be ready and vigilant for all possibilities.

Another potential scenerio is that to solve the World Economic Crisis, Oboma pushes through Congress the acceptance of the "Euro" as the new Currency for not only the USA but as suggested for all countries.

By having a world currency, individual countries would no longer be able to play up their currency at the detriment of others. It could even be tied to the Gold Standard.

It would certianlly bring about the prediction in the bible that says..."No one would be able to buy or sell" with out it....that is a world currency instead of just an Amero versus the Euro.

Just a thought.

FAR.

 
At 10:55 AM, November 12, 2008 , Blogger Free Agency Rules said...

Right now the world is estatic that we elected Oboma, but we all will dread the day we elected a Marxist for a President.

A government that is powerful enough to solve everyones problems is powerful enough to opress it's people beyond imagination.

FAR.

 
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