Tuesday, July 25, 2006

Wingnut Daily channeling reasonable Congressman


INSIDE THE FEDERAL RESERVE

Titled "THE FEDERAL RESERVE: FRAUD OF THE CENTURY," Whistleblower documents authoritatively and with uncommon clarity how the "Federal Reserve" – which is neither part of the federal government, nor does it rely on monetary reserves – is an unconstitutional, unelected cartel that literally creates the devastating problems it was supposed to prevent.

"From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble" in 2001, charges U.S. Rep. Ron Paul, "every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy."


You might remember Ron Paul (R-TX) from his speech on the House floor entitled, "
The End of Dollar Hegemony." Also see, "What the Price of Gold is Telling Us."

Like I said, I'm neither a Republican nor a Democrat. I like honesty in politicians and like to see genuine efforts to address real problems, not just tabloid soap opera issues, and I admire Ron Paul for speaking about a serious issue that most people are blind toward.

Also please read, "What Congress Can Do About Soaring Gas Prices." In it he basically lays out the premise that record high oil prices are a direct result of all our actions in the Middle East. (duh) And Ihink he subtly suggests that this is by design. (duh, When oil men become the president and vice president you think oil prices will go down?)

Before the Iraq war oil was less than $30 per barrel; today it is over $70. The sooner we get out of Iraq and allow the Iraqis to solve their own problems the better. Since 2002 oil production in Iraq has dropped 50%. Pipeline sabotage and fires are routine; we have been unable to prevent them. Soaring gasoline prices are a giant unintended consequence of our invasion, pure and simple.
...
We must end our obsession for a military confrontation with Iran. Iran does not have a nuclear weapon, and according to our own CIA is not on the verge of obtaining one for years...We must quickly announce we do not seek war with Iran, remove the economic sanctions against her, and accept her offer to negotiate a diplomatic solution to the impasse. An attack on Iran, coupled with our continued presence in Iraq, could hike gas prices to $5 or $6 per gallon here at home. By contrast, a sensible approach toward Iran could quickly lower oil prices by $20 per barrel.
...

We must remember that prices of all things go up because of inflation. Inflation by definition is an increase in the money supply. The money supply is controlled by the Federal Reserve Bank, and responds to the deficits Congress creates. When deficits are excessive, as they are today, the Fed creates new dollars out of thin air to buy Treasury bills and keep interest rates artificially low. But when new money is created out of nothing, the money already in circulation loses value. Once this is recognized, prices rise-- some more rapidly than others. That’s what we see today with the cost of energy.

Ron Paul is one of the few politicians in DC that I respect. Damned honest politicians.

Check out The Money Masters.

Blogger.com is a thorough pain in the ass, btw. Their servers are routinely unavailable and sometimes it just won't upload a post or a pic. It's really frustrating.




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