Ron Paul on Goverment and Economics

[MetalMeister]

You're Going To Destroy A Worldwide Economy! Ron Paul


http://www.youtube.com/watch?v=YBVB1Uc0nko&feature=related

[BiGReD]

Nice one, I hadn't seen that before. I really wish the republicans took him more seriously and put him on the ticket instead of McBama

-BiGReD

[MetalMeister]

Looks like Ron Paul may get Chairman of the House Financial Services Commitee.

Here he is on Bloomberg on Dec 1.

http://www.bloomberg.com/video/64942500/

www.audittheFED.com

www.endtheFED.com

[sidewinder]

That's because Barney Frank has a new job with the TSA

[onlooker]

Here’re some way-out thoughts connected to Ron Paul:

~     ~    ~

It has been analyzed that the currency domino effect ( Thailand’s baht, Bath,  Indonesia’s rupiah, South Korea’s won, Philippines’ peso, Hong Kong’s dollar,  Malaysia’s ringgit, Singapore’s dollar) of the 1997 Asian Crisis was intentionally started by few individuals, namely George Soros, and Julian Robertson. 

See:   

Sensing that their prey had been cornered by their own venality, the wolves began to circle in early 1997. The amoral pursuit of profit was about to punish the sins of cronyism and corruption. Drawing from multibillion-dollar war chests, hedge-fund operators such as George Soros and Julian Robertson intensified their attack on the baht. One way the speculators bet against the currency was by entering into contracts with dealers who would give dollars in return for an agreement to repay a specific amount of bahts some months in the future. If the baht rose in value, the seller of the contract made money; but if it fell, the buyer profited because he could repay the contract with cheaper bahts. Demand for such contracts started to drive up interest rates, and the Bank of Thailand began issuing many of these so-called forward contracts itself.

This action turned out to be a fatal misstep that placed in the hands of speculators the perfect weapon with which to attack the currency. "It's as though an unarmed gunslinger walked into town and the sheriff handed him a pistol," remarked a beneficiary of the central bank's unintended largesse. Now speculators had access to an estimated $15 billion in forward contracts issued in February and March that they would not have to cover for as much as a year. An estimated 80% to 90% of these forward contracts ended up in the hands of speculators. By May the central bank realized it was contributing to the baht's undoing and abruptly stopped issuing any more forward contracts.

Sensing blood, traders began moving in for the kill and in mid-May flooded the market with orders to sell bahts. But the government began playing hardball. The central bank invoked a mutual-assistance agreement with monetary authorities in Singapore, Hong Kong and Malaysia and spent more than $10 billion in just a few days buying bahts and selling dollars.

http://www.mailstar.net/asia-crisis.html

After the speculators made their move, the fall of Asian currencies and economies started within months of each other. 

My main point is that a currency crisis can be started by a few individuals.

~     ~     ~

Geraldo Rivera has a colourful career as a television journalist. I think his most memorable stunt for millions of television viewers was when he opened up Al Capone’s vault and found it emptied.  I suspect that his questionable journalistic credibility immediately plunged to new lows after the Al Capone’s vault show was aired.

See:  http://www.youtube.com/watch?v=P84OKTUx6LY

~     ~     ~

Yellowcaked’s December 6, 2010 quote:

Looks like Ron Paul may get Chairman of the House Financial Services Commitee.

Here he is on Bloomberg on Dec 1.

http://www.bloomberg.com/video/64942500/

www.audittheFED.com

www.endtheFED.com

If Ron Paul becomes the Chairman of the House Financial Services, then he will get the Fed audited, which includes getting Fort Knox audited.

See:  Ron Paul to Ft. Knox: Show Me The Gold   May 9, 2010

http://www.youtube.com/watch?v=n2PJD0Vz8Tg

If Fort Knox get audited and it turns out to be emptied of precious metals, then Ron Paul will have finally exposed to the world that the world’s reserved currency is backed by nothing. 

The masses may be confused, hoodwinked about the phase “quantitative easing”, but they will automatically understand what is the significance of a vault emptied of gold.  I suspect there will then be mad rushes to dump US dollars for precious metals.

Economies and fiat currencies linked to the US dollar will drop left and right. 

Ron Paul could go down in history as the single individual who unintentionally destroyed a worldwide economy.   

This is a scary possibility.

If this scenario with Ron Paul, Fort Knox, collapse of the worldwide economy comes true; then based on your below October 20, 2008 quote, you will be seen either to have psychic abilities or 20/20 foresight.

Yellowcaked’s October 20, 2008 quote:

You're Going To Destroy A Worldwide Economy! Ron Paul

http://www.youtube.com/watch?v=YBVB1Uc0nko&feature=related

~   ~   ~

I think that the future career path of Ron Paul and his audit- the-Fed bill should be carefully observed, because they could have a hugh impact on the world economies.

[MetalMeister]

My thoughts are that the gold is in Fort Knox, the question I have is it all leased out and how many times has it been leased out?

My guess is that even if that proves to be the case that government officials are not going to go running out to tell the whole world the facts if they think that will have a huge economic backlash on the US.  It depends on how big the backlash could be, I suppose.

I have been listening to the 2 hour video SW posted and will give my thoughts on that later.

If the Fort Know gold is leased out then I do not believe the government is going to change the policy of settling foreign accounts in gold until they are forced to or it is in their best interest to do so.

So much for any government being honest.

I have also had some thoughts pertaining to confiscation while listening to the SW video.

If Ron Paul becomes the Chairman of the House Financial Services, then he will get the Fed audited, which includes getting Fort Knox audited.

See:  Ron Paul to Ft. Knox: Show Me The Gold   May 9, 2010

http://www.youtube.com/watch?v=n2PJD0Vz8Tg

If Fort Knox get audited and it turns out to be emptied of precious metals, then Ron Paul will have finally exposed to the world that the world’s reserved currency is backed by nothing. 

The masses may be confused, hoodwinked about the phase “quantitative easing”, but they will automatically understand what is the significance of a vault emptied of gold.  I suspect there will then be mad rushes to dump US dollars for precious metals.

Economies and fiat currencies linked to the US dollar will drop left and right. 

Ron Paul could go down in history as the single individual who unintentionally destroyed a worldwide economy.   

This is a scary possibility.

If this scenario with Ron Paul, Fort Knox, collapse of the worldwide economy comes true; then based on your below October 20, 2008 quote, you will be seen either to have psychic abilities or 20/20 foresight.

Yellowcaked’s October 20, 2008 quote:

You're Going To Destroy A Worldwide Economy! Ron Paul

http://www.youtube.com/watch?v=YBVB1Uc0nko&feature=related

~   ~   ~

I think that the future career path of Ron Paul and his audit- the-Fed bill should be carefully observed, because they could have a hugh impact on the world economies.

[onlooker]

Hi YC:

I was never a keen observer of world politics, including Canadian politics.  I am definitely an amateur commenter on issues related to government and politics.  However, this is how I see things so far.

This writer says that there is the Fourth Branch of Government.

See: 

The Federal Reserve: America’s Fourth Branch of Government

By Jeff Harding, on December 6th, 2010

http://dailycapitalist.com/2010/12/06/the-federal-reserve-americas-fourth-branch-of-government/

By now, I do not think that Americans and non-Americans are clueless as to what’s going on in the United States.  There have been other noble Americans other than Ron Paul who have been successful at peeling away and exposing the negative aspects of the resilient American financial system.

Chair of the Congressional Oversight Panel, Senator Carl Levin grills Goldman Sachs Exec over “Shitty Deal”.  (http://www.youtube.com/watch?v=gLx2Xc1EXLg).  Goldman Sachs ends up paying just an insignificant fine of $550 million to settle charges over how it marketed a subprime mortgage product.

See:  http://my.firedoglake.com/johninsac/2010/07/15/goldman-sachs-defrauds-americans-with-shitty-deal-and-walks-away-with-450000000-priceless/

Elizabeth Warren is a former Chairperson of the Congressional Oversight Panel created to oversee the implementation of the Emergency Economic Stabilization Act.  The Panel released monthly oversight reports that evaluated the government bailout and related programs.

She found that TARP was needed to stabilize the American financial system.  It worked really well for the Wall Street banks, and not so well for the rest of the banks in the American financial system. 

And she found that TARP helped overseas firms.

See: 

Foreign firms helped by U.S. bailouts: panel

Wed, Aug 11 2010

http://www.reuters.com/article/idUSTRE67B0DD20100812

And that the American taxpayers paid dearly all of it.   

See: 

Warren has repeatedly made this point about AIG and the broader TARP. In fact, it was repeated in a report by Warren’s panel only two weeks ago, issued the day before she resigned to take her new job. The panel found that while TARP was needed to stabilize the financial system, it has failed to fulfill its statutory responsibilities to help reduce home foreclosures and to “maximize overall returns to the taxpayers.” TARP, the panel found, “was mismanaged and could post significant costs far into the future.”

http://www.politico.com/news/stories/1010/43064.html

These people have been successful in exposing the faults of the American financial system, but they still have little impact on changing the course of actions taken by the Fourth Branch and its allies.

So, can Ron Paul bring down or control the Fourth Branch?

If there’s gold in Fort Knox, then the American greenback, the world’s reserve currency will not take a sudden severe dive.

If Ron Paul have solid proof that the Fed is bankrupt, and corrupt, or Fort Knox is emptied of gold; then you are right in saying that the American government is not going to run out and tell the whole world about it.

Therefore, the American people and the world will continue to remain like a captive audience held by in place by the Fourth Branch.

The Four Branch does what it wants, and no one else, including Ron Paul will have any control over it.

BUT, does the majority of the American and non-American people really would not want to know that the Fourth Branch is bankrupt?   A bankrupt Fourth Branch means that the American government is bankrupt.  It means that the world reserve currency is automatically worthless.

So, would an American who has experienced foreclosure or is unemployed want to know that he is actually more financially kaput because the dollar is worthless?

Would the Canadian government that holds over 50% of its reserves in US dollars want to know that the world reserve dollar is worthless?

Would the foreign firms which have received the life-saving TARP dollars know that the world reserve currency is worthless?

And so on.

Once the American government is declared to be officially bankrupt, then the world reserve currency and anything linked to it will sink like a rock, and in an extremely short time period.  This possible end scenario for the American government and its currency will make the 1997 Asian Financial Crisis by comparison, a non-event.

~     ~     ~

Can the American people and the rest of the world handle the truth?

Here's a great classic American movie scene about getting the truth told.  Could imagine the average American joe, or non-American or Ron Paul be truth seeker, Lieutenant Junior Grade Daniel Kaffee (Cruise), and Tim Geithner or Ben Bernanke in the role of the emotional hot-headed Col. Nathan R. Jessep (Jack Nicholson).

A Few Good Man "You Can't Handle the Truth"

http://www.youtube.com/watch?v=5j2F4VcBmeo

A Few Good Men
written by Aaron Sorkin

Jessep: You want answers?

Kaffee (Tom Cruise): I think I'm entitled to them.

Jessep: You want answers?

Kaffee: I want the truth!

Jessep: You can't handle the truth! Son, we live in a world that has walls. And those walls have to be guarded by men with guns. Who's gonna do it? You? You, Lt. Weinberg? I have a greater responsibility than you can possibly fathom. You weep for Santiago and you curse the Marines. You have that luxury. You have the luxury of not knowing what I know: that Santiago's death, while tragic, probably saved lives. And my existence, while grotesque and incomprehensible to you, saves lives...You don't want the truth. Because deep down, in places you don't talk about at parties, you want me on that wall. You need me on that wall.

We use words like honor, code, loyalty...we use these words as the backbone to a life spent defending something. You use 'em as a punchline. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide, then questions the manner in which I provide it! I'd rather you just said thank you and went on your way. Otherwise, I suggest you pick up a weapon and stand a post. Either way, I don't give a damn what you think you're entitled to!

Kaffee: Did you order the code red?

Jessep: (quietly) I did the job you sent me to do.

Kaffee: Did you order the code red?

Jessep: You're goddamn right I did!!

~     ~     ~

[Uboat]

http://www.energyandcapital.com/articles/weekend-six-more-reasons-to-riot/1366

[sidewinder]

Thanks for the link uboat I liked the article and the site.   

[MetalMeister]

I don't view Elizabeth Warren as having done anything but exactly the political statement Obama ordered her to make.

Say something good about staving off financial crisis and pity the American people who are the real losers.  That is the game they play.  Tell people they are better off by the bailout and say something pitiful about them to falsely appease their anger.

We should have let the entire financial house of cards fail in 2008.  Crash adn burn to the ground.

We are still bailing out business and countries.  We bailed out Ireland, Greece, many others over the years.

Spain and Portugal are next.

Don't think for one minute all the bailouts are by the EU.  The IMF is in there.  We pay 17-20% of the IMF bill.

I say crash everything everywhere and start anew with a system that has no subsidies, a simple tax law, nothing done in secret, and no way to spend money a country does not have.

No loans for countries.  No fake, worthless paper money.  No pension plans, no IRAs, no 401ks, no government unemployment insurance, no government health care, no unions, no social security, no welfare, NADA almost all government programs, no education department, push everything back to the states where it belongs.

Make government small, very small.

Let the private sector and the free market run things.

Once the American government is declared to be officially bankrupt, then the world reserve currency and anything linked to it will sink like a rock, and in an extremely short time period.  This possible end scenario for the American government and its currency will make the 1997 Asian Financial Crisis by comparison, a non-event.

Can the American people and the rest of the world handle the truth?