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Re: Ron Paul and the Fed Reserve

  • Wed, Jan 12, 2011 - 02:25am

    #24
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Ron Paul and the Fed Reserve

[quote=realasset]

 

Hi   Dogs _ Pile

sorry – just had to abbreviate it. I have watched the the crash coarse and found it very informing.

 

I have little or no understanding of how the fed reserve works, but I think that the monetary system should be controlled by the people,  and  set up in such a way that it can’t be manipulated ( tyler’s cycle seems a good reason to keep it from the public’s will to manipulate it) unless it is absolutely necessary and that it must be returned to it’s original state asap by constitutional law. To break the monopoly on the money, a second currency, which was Red Seal notes, previously printed by the US Treasury, and new can be printed again, would need to put monies back in circulation and backed be a tangable asset. Once the people figure that their money is backed something of value, they would start moving away from the debased federal reserve currency. The Red Seal, US treasury notes would then replace the Fed Reserve moneys placing the power back into the people hands through the US treasury.

But with a shift like that, how would that effect day to day life for us commoners.

[/quote]

real –

‘Dogs’ works just fine, and so does “Hey you”

You’ve underscored the point I was trying to make – very few people understand how the Fed works, and that’s the problem.  What we need is a lot more transparency in what the Fed does.  We need Congressional oversight of what the Fed does, as outlined in the Constitution.  I think Thomas Hedin wrote in one of his posts the the Fed is ‘extra-Constitutional’ and that is a problem.  Not above the Constitution, or next to it, but within it.  Most people have a working knowledge of what the various Cabinet positions “Do”.  Ask 10 people what the Federal Reserve does and you will probably get 6 blank stares, 3 wild conspiracy theories and 1 “something to do with money” answers. 

Open the books and shine a bright light on the cockroaches running the Fed, watch them scatter, account for where all that money went, answer up for it, roll with the resulting systemic shock waves and fix it.

It may turn out that Congressional oversight of the Fed and the Nation’s monetary policy is just another thing for Congress to screw up, but at least they’d be screwing up a responsibility that was given to them by the Constitution.  In a weird way, I’m okay with that – because we the people also have it within our power to fix that problem as well.