Brentastic Posted August 5, 2011 Share Posted August 5, 2011 Hey everyone, I'm writing this post to strongly encourage all of you to call your representatives and senators, email them and write them asking them to support HR-459 (this is for your house representative) and its companion bill for the senate is S 202. This is the proposed bill to audit the Federal Reserve. Many of you who read my posts know that I have been against the Federal Reserve for the better part of the last 3 years - once I began reading about what they do and who they are. They are the most corrupt organization in the world and they have a monopoly over money. Every American should support this bill since this private banking cartel has no accountability to the citizens of America. While the citizens of this country are required by law to give an account of every penny they come in contact with, the Federal Reserve has never been held to the same standard. You should know I am not on the Ron Paul staff or anything, I'm writing this post because I've had enough and it's time we Americans ditch the complacency and start taking action. Whether or not you support Ron Paul as a presidential candidate, you should support him in his quest to hold the Federal Reserve accountabl because it's the Federal Reserve who is responsible for the financial crisis and their inflationary policies lower the purchasing power of every hard-working Amerian. From the Ron Paul website: "Congressman Ron Paul has worked tirelessly to bring much-needed transparency and accountability to the secretive bank. And in 2009 and 2010 his unfaltering dedication showed astonishing results: HR 1207, the bill to audit the Federal Reserve, swept the country and made the central bankers shudder at their desks. The bill passed as an amendment both in the House Financial Services Committee and in the House itself. But eventually the most significant portions of the bill were derailed." As some of you know from all my posts and private conversations and as I stated above, inflation lowers the purchasing power of tax-paying Americans and increases the purchasing power of the Federal Reserve, which is a cartel of private bankers (it is not Federal). The Federal Reserve is privately owned, it is not a Federal agency as they claim. Their profits get paid in the form of dividends to the privately owned member banks. Please visit the link below, use their email templates if you so choose and reach out to your state representative and 2 senators. I called and emailed all of them this morning and it took about 30 minutes. A big reason our country is in such bad shape is because everyday Americans like us became complacent. If we want change, we need to take action. 30 minutes of your time is not that much sacrifice to do your part to create change. I’m begging you to support this bill and reach out today. If anyone here is interested in getting a better understanding of the Federal Reserve, send me a PM and I'd be ecstatic to discuss what I know. I've dedicated the better part of 3 years learning about the complexities of fractional reserve banking and I'm confident if more people understood the process, there would be no more Federal Reserve. And that's my personal goal - to abolish the Federal Reserve. Enough typing, please visit the site below and do your part to save America!! http://www.ronpaul.com/congress/legislatio...ed-hr-459-s202/ P.S. I encourage you to reach out to your friends and family as well. America is at a crossroads and only we the people can make it change. Thanks for listening to me. P.P.S. If you hate America and don't support this bill, that's fine - but please avoid flaming in this thread. I intend for this to be informational only. Either take action or don't, it's your choice. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 5, 2011 Share Posted August 5, 2011 alternative argument Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 5, 2011 Author Share Posted August 5, 2011 alternative argument I skimmed a few paragraphs then thought "whatever". 2 things - 1) there should not be a target inflation rate. Inflation lowers our purchasing power. That is not good for hard-working tax payers. 2) the inflation equation has been modified, changed and tweaked a lot over the years and there is a whole lot of subjectivity that goes into it. So even if you support the notion that we should have a normal rate of inflation around 2% (not matter how idiotic that notion is), you cannot assume the current rate is an accurate measurement. Plus, this is an institution that has had a monopoly on our money for 100 years. This isn't about Ben being so bad, the entire system is bad for Americans. Greenspan was just as bad even though he is praised. Bernanke is the least of our worries, he's just the guy now taking all the blame but it runs much deeper than that. Quote Link to comment Share on other sites More sharing options...
jetsfan Posted August 5, 2011 Share Posted August 5, 2011 I skimmed a few paragraphs then thought "whatever". 2 things - 1) there should not be a target inflation rate. Inflation lowers our purchasing power. That is not good for hard-working tax payers. 2) the inflation equation has been modified, changed and tweaked a lot over the years and there is a whole lot of subjectivity that goes into it. So even if you support the notion that we should have a normal rate of inflation around 2% (not matter how idiotic that notion is), you cannot assume the current rate is an accurate measurement. Plus, this is an institution that has had a monopoly on our money for 100 years. This isn't about Ben being so bad, the entire system is bad for Americans. Greenspan was just as bad even though he is praised. Bernanke is the least of our worries, he's just the guy now taking all the blame but it runs much deeper than that. Your PPS rings a bit hollow now. However, I do live in Ron Paul's district and support his actions. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 5, 2011 Share Posted August 5, 2011 maybe we can get wiegie to chime in on this, but a certain amount of inflation is natural and necessary in a growing economy. one thing I remember is that it is necessary to "grease the wheels" of the labor market due to wage stickiness. on the other hand, the dangers from deflation are severe and potentially catastrophic. brent, have you read milton friedman and anna schwartz' diagnosis of policy during the great depression? if not, you should. and if you have, perhaps you can spell out why you think they are so completely wrong. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2011 Share Posted August 5, 2011 maybe we can get wiegie to chime in on this, but a certain amount of inflation is natural and necessary in a growing economy. one thing I remember is that it is necessary to "grease the wheels" of the labor market due to wage stickiness. on the other hand, the dangers from deflation are severe and potentially catastrophic. brent, have you read milton friedman and anna schwartz' diagnosis of policy during the great depression? if not, you should. and if you have, perhaps you can spell out why you think they are so completely wrong. inflation is good if it follows population growth....but inflation has far exceeded the amount of population growth... Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 5, 2011 Share Posted August 5, 2011 inflation is good if it follows population growth....but inflation has far exceeded the amount of population growth... population growth? well, I guess that would be an interesting rate for the fed to target. I'm not sure I see the logical connection there though. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 5, 2011 Author Share Posted August 5, 2011 Azz - I have not read those books. Question for Avernus and/or Azz - from the perspective of a consumer, worker and taxpayer, please explain why inflation is good. Ignore all the b.s. we've been fed from the banks and government on the role and try to answer the question as is from your own personal perspective. Also keep in mind that the banks purchasing power increases with inflation since the money is generated out of thin air so-to-speak. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 5, 2011 Share Posted August 5, 2011 Azz - I have not read those books. Question for Avernus and/or Azz - from the perspective of a consumer, worker and taxpayer, please explain why inflation is good. Ignore all the b.s. we've been fed from the banks and government on the role and try to answer the question as is from your own personal perspective. Also keep in mind that the banks purchasing power increases with inflation since the money is generated out of thin air so-to-speak. I would really like to do a thorough breakdown here, but I simply do not have the time....so I'll try to make a quick point... if we had the same amount of USD in circulation that we had in 1972 since we were off the bretton woods system with the current population, there wouldn't be enough money to go around to justify said prices which were much lower.... from my understanding, inflation is supposed to incur at the rate of population growth but this is no longer the case and I am not even sure what it is going by at this point in time... if we went by population growth, there would be nowhere near the amount of USD that we currently have....because with more people, we would need more money available even though this would cause a hike in prices - there would be nowhere near the hike that we've seen if it just went by population growth and then you have to account for illegals as well which would not play a factor in inflation.... otherwise there would be serious deflation and some people would find money too hard to come by... Quote Link to comment Share on other sites More sharing options...
westvirginia Posted August 5, 2011 Share Posted August 5, 2011 Azz - I have not read those books. Question for Avernus and/or Azz - from the perspective of a consumer, worker and taxpayer, please explain why inflation is good. Ignore all the b.s. we've been fed from the banks and government on the role and try to answer the question as is from your own personal perspective. Also keep in mind that the banks purchasing power increases with inflation since the money is generated out of thin air so-to-speak. I don't think anyone is saying it's good, just that it's a by-product - a fact of life. Quote Link to comment Share on other sites More sharing options...
muck Posted August 6, 2011 Share Posted August 6, 2011 Honest question ... if the Fed was audited, would you believe the auditors' report? Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2011 Author Share Posted August 6, 2011 Honest question ... if the Fed was audited, would you believe the auditors' report? Probably not. Quote Link to comment Share on other sites More sharing options...
muck Posted August 6, 2011 Share Posted August 6, 2011 Probably not. That's what I thought! HA! Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2011 Author Share Posted August 6, 2011 That's what I thought! HA! Yeah, but at least it's something. Us peons don't have much pull so to be able to at least get an audit would be a baby step in the right direction. Quote Link to comment Share on other sites More sharing options...
electricrelish Posted July 31, 2012 Share Posted July 31, 2012 alternative argument The NY Times? Aren't they part of the liberal media? Hahahahahahaha!!!!! Quote Link to comment Share on other sites More sharing options...
stevegrab Posted July 31, 2012 Share Posted July 31, 2012 P.P.S. If you hate America and don't support this bill, that's fine - but please avoid flaming in this thread. I intend for this to be informational only. Either take action or don't, it's your choice. And bang, you lose most people right here. Its just like the "if you vote for so and so you must hate American, are unamerican, etc." Just because people don't agree with your views, and don't support this, doesn't mean they hate America. If you intended for it to be informational only, you wouldn't make such statements. Quote Link to comment Share on other sites More sharing options...
stevegrab Posted July 31, 2012 Share Posted July 31, 2012 Yeah, but at least it's something. Us peons don't have much pull so to be able to at least get an audit would be a baby step in the right direction. Who would be doing the audit? Would Congres be in charge somehow, or other politicians of some type? I wouldn't trust them to count the money in my change jar. So you want people to write their representatives to support an audit of the fed (by whom, how much would it cost, when would we get results) all for a report that wouldn't be very useful and that you (one of the people who want it) wouldn't believe. Yeah, that seems logical. Quote Link to comment Share on other sites More sharing options...
delusions of grandeur Posted July 31, 2012 Share Posted July 31, 2012 Who would be doing the audit? Would Congres be in charge somehow, or other politicians of some type? I wouldn't trust them to count the money in my change jar. So you want people to write their representatives to support an audit of the fed (by whom, how much would it cost, when would we get results) all for a report that wouldn't be very useful and that you (one of the people who want it) wouldn't believe. Yeah, that seems logical. Who pissed in your cheerios this morning? I agree with Brent that an audit is better than nothing, and maybe if people had even an inkling of where all this money is going, they might actually demand something be done about it. In the words of Reagan, if you can't make them see the light, make them feel the heat... Fortunately the bill passed resoundingly in the House recently, but as usual, the Senate might not be so eager to let it come to a vote. Quote Link to comment Share on other sites More sharing options...
Duchess Jack Posted July 31, 2012 Share Posted July 31, 2012 Fortunately the bill passed resoundingly in the House recently, but as usual, the Senate might not be so eager to let it come to a vote. why is this? is there extra stuff added on to the bill to make it less palatable than a simple (bad word perhaps) audit of the fed? Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted July 31, 2012 Share Posted July 31, 2012 (edited) I'm skeptical of a lot of the populist fed-bashing you hear especially on the right. but something I read today that makes me uneasy -- not so much about the Fed, but about our fiscal policy -- is that the Federal Reserve bought 77% of new Federal Debt in 2011. people who advocate for more fiscal spending now to spur recovery often make the argument that, hey, we can borrow money at close to zero percent now, we'd be insane not to, and the market obviously sees a very low risk of default since they are buying up the debt at those low rates. but a number like that makes you question how much of a market there really is. I've never been convinced that we need to abolish the Fed, or that we need a much tighter monetary policy, or anything of the sort. but I get more convinced by the day that we desperately need a much tighter fiscal policy, especially with respect to future spending obligations. every day we put off serious entitlement reform, we get closer to the point of no return where a crippling austerity becomes the only way out. we are not past that point yet, but I think we are much closer to it than many people want to realize. Edited July 31, 2012 by Azazello1313 Quote Link to comment Share on other sites More sharing options...
delusions of grandeur Posted July 31, 2012 Share Posted July 31, 2012 why is this? is there extra stuff added on to the bill to make it less palatable than a simple (bad word perhaps) audit of the fed? Not that I know of (though they did water down a previous "audit" with a bunch of BS), just that the Senate just tends to be more on the side of corrupt establishment than bipartisanship. Last I heard there were only something like 20 co-sponsors. Harry Reid said he would block it from coming to a vote (ironically after he'd previously lobbied to audit the Fed since 1993), but IIRC, it's not up to him and has to go through the Senate banking committee to be brought up to a vote. Quote Link to comment Share on other sites More sharing options...
stevegrab Posted July 31, 2012 Share Posted July 31, 2012 Who pissed in your cheerios this morning? I agree with Brent that an audit is better than nothing, and maybe if people had even an inkling of where all this money is going, they might actually demand something be done about it. In the words of Reagan, if you can't make them see the light, make them feel the heat... Fortunately the bill passed resoundingly in the House recently, but as usual, the Senate might not be so eager to let it come to a vote. Nobody pissed in my Cherios (actually I had Raisin Bran this morning). Just find these kind of things a little bit too wild for my tastes. And when those asking for others to help get it done won't even believe the results, what's the use. Its like people whose kid is shot by cops asking for justice. Then an independent investigation shows the police did no wrong and they just keep shouting for justice. Quote Link to comment Share on other sites More sharing options...
electricrelish Posted July 31, 2012 Share Posted July 31, 2012 (edited) Nobody pissed in my Cherios (actually I had Raisin Bran this morning). Just find these kind of things a little bit too wild for my tastes. And when those asking for others to help get it done won't even believe the results, what's the use. Its like people whose kid is shot by cops asking for justice. Then an independent investigation shows the police did no wrong and they just keep shouting for justice. What exactly do you find wild? I don't think there's anything wild about requesting accountability. The Federal Reserve has been around for a long time and an accounting of what exactly is in this so called reserve and where the money that it writes goes to would be a good thing. Being skeptical of the audit findings before there are any actual findings is premature. Let's get the audit first and take it from there. Edited July 31, 2012 by electricrelish Quote Link to comment Share on other sites More sharing options...
delusions of grandeur Posted July 31, 2012 Share Posted July 31, 2012 Nobody pissed in my Cherios (actually I had Raisin Bran this morning). Just find these kind of things a little bit too wild for my tastes. And when those asking for others to help get it done won't even believe the results, what's the use. Its like people whose kid is shot by cops asking for justice. Then an independent investigation shows the police did no wrong and they just keep shouting for justice. Terribly sorry to ask you to simply contact your senator and let them know this important to you (if it is. If it isn't, you're more than free not to). There are plenty of people out there who feel just like you that "what's the point", but the point is to stand up for what you believe in, and hold not only the fed, but your representatives accountable to represent you and not simply the banking interests. If that's too much to ask, then again, feel free to go on about your day, but your rant is completely unwarranted towards those who are trying their damnedest to do anything they possibly can before this house of cards collapses. Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted July 31, 2012 Share Posted July 31, 2012 Being skeptical of the audit findings before there are any actual findings is premature. Let's get the audit first and take it from there. That makes absolutely no sense. Some people would never buy an audit performed by Congress. Alternatively, others would never believe an audit performed by a private financial company either. Quote Link to comment Share on other sites More sharing options...
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