Ron Paul: "Audit the Fed, Then End It!"

[runstowin]

"The main argument seems to be that Congressional oversight over the Fed is government interference in the free market," he wrote. "This argument shows a misunderstanding of what a free market really is. Fundamentally, you cannot defend the Federal Reserve and the free market at the same time

"The Fed negates the very foundation of a free market by artificially manipulating the price and supply of money – the lifeblood of the economy. In a free market, interest rates, like the price of any other consumer good, are decentralized and set by the market. The only legitimate, Constitutional role of government in monetary policy is to protect the integrity of the monetary unit and defend against counterfeiters," he said.

What has actually happened is the U.S. is that Congress "has abdicated this responsibility to a cabal of elite, quasi-governmental banks who, instead of stabilizing the economy, have destabilized it," he wrote.

Paul said it took "less than two decades for the Federal Reserve to bring on the Great Depression of the 1930s."

He also said some have been worried about bringing the Fed into the "political process."

"The Federal Reserve is already heavily entrenched in the political process, as the Fed chairman is a political appointee. High level officials routinely make the rounds between positions at the Fed, member banks, Treasury and back again, taking care of friends and each other along the way," he said.

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=98782

[twyacht]

When the bailout fever started getting steam late last year, $2 BILLION Dollars was given to an "Unnamed Entity", that we still don't know who received it.

That would be our "transparent" gov't? Using taxpayer money?

Maybe with the price of gold going up, we should get back on it.

[runstowin]

From Article 1 Section 8: To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
A real dollar: Dollars or Units    DOLLARS OR UNITS--each to be of the value of

                    a Spanish milled dollar as the same is now

                    current, and to contain three hundred and

                    seventy-one grains and four sixteenth parts   

                    of a grain of pure, or four hundred and

                    sixteen grains of standard silver.
A real federal reserve note is a debt to the fed.