The Federal Reserve cartelizes the banking industry, allowing individual banks to inflate together, earning them and the government enormous profits, while making sure that they are never held accountable for their fraudulent practices. (Origins of the Fed – Ron Paul)We elect politicians who don’t know what they are doing. They are naifs in the financial arena, and so they are easily fooled, hoodwinked and cowed into sitting down, shutting up and doing the bidding of the bankers. Just as Satan will use someone’s strengths against himself, Wall Street swindlers especially love ensnaring intelligent politicians who have an overinflated self-esteem and dragooning them into the latest banker bunko scheme. Who’s smarter than Barney Frank? And who knows more about finance than the former Democrat Senator from Countrywide, Chris Dodd?
At least George Bush just read his script with his typical deer in the headlights look and spared us the charade of pretending to understand the economic tsunami engulfing his presidency. Mercifully, he confined his remarks to killing capitalism in order to save it because too many credit stink bombs had clogged the banking toilets, or whatever he said at the time. He should have grabbed a plunger and beat Dirty Hank Paulson and his coven of cronies with it, and kept the treasury shut tight.
Ron Paul is perhaps the only politician alive who knows what he’s talking about when it comes to our money and our banking system.
There is one reason why we have a Federal Reserve System today, and it has nothing to do with what the Fed's publications say. The Federal Reserve exists to give a special privilege to the banking industry. And they have profited greatly from it. But at what expense? The banksters have diluted the value of the 1914 dollar to about eight cents. And its value is still shrinking.
As the Federal Reserve expands the money supply, it reduces the value of all existing dollars. The process happens, though, unevenly because not all prices rise at the same time. The first party to get the new money can spend it at its old purchasing power. Only after filtering through the economy does the money bid up prices for goods. (Origins of the Fed – Ron Paul)The economic emperors have no clothes, and they have destroyed our currency, which is delayed from a final crash only by the Euro’s even greater peril.
See also:
Ron Paul – The Case for Gold