Ron Paul on Bloomberg TV, 12/1/2010, discusses fed foriegn bank bailout disclosure

RP on foreign banks (and “US” banks) receiving aid from US taxpayer: “I think it’s criminal…This is not how a free society ought to operate. This is all for special interests.”

Back in February, Bernanke lied when Paul questioned him about foreign bailouts.
Bernanke: “We have no plans, whatsoever, to be involved in any foreign bailouts or anything of that sort.” What about the foreign banks that they bailed out?

Bloomberg Sues Fed to Force Disclosure of Collateral (Update1)

Banks with headquarters outside the U.S. were among the first to begin using the facility in December 2007 and were also among its heaviest borrowers. These included the U.S. affiliates of banks such as Manama, Bahrain-based Arab Banking Corp., Madrid-based Banco Santander SA, and Paris-based Societe Generale SA. Beginning on June 18, 2009, Barclays Bank Plc had two loans totaling $23.45 billion outstanding.

Note that this fed disclosure only occurred due to the Bloomberg lawsuit. We need to use the courts to get our country back!

Ron Paul: “Let market set interest rates and supply of money”

Ron Paul for president 2012!

Ratigan: Tea Party Co-opted by Big Bussiness Interests

[This video is not a new revelation to me but is an interesting take on what has happened with the 'Tea Party':]

Ratigan:
“…disparate groups of no-doubt passionate Americans have been co-opted by either special interests, loud voices looking to make a quick buck, people trying to get rich playing to their anger instead of using that anger to help us all solve this countries obvious corrupt problems.”

“…Sarah Palin right-wing funded bastardization of this understandably angry group”

Denninger:
“…I’d like to see this turn back into what it began as…”

Those of us who were following Ron Paul during the 2008 presidential election know that it was Ron Paul supporters that started the tea party movement with their protest against the “inflation tax” as the fed printed more and more money and devalued the dollar (and continues to do so). On December 16th, 2008 Ron Paul supporters staged a “Tea Party” demonstration, a throwback to the original tea party protest in 1773 where patriots dumped tea into the Boston harbor to protest out of control taxation without representation. During this first modern-day tea party Ron Paul supporters broke the single-day presidential fundraising record by donating over $6 million to Paul’s campaign in 24 hours.

Ron Paul’s movement developed into the Campaign For Liberty. It was from this group’s ideology that the larger spin-off movement called “the tea party” developed. Due to it’s large size and far-reaching voice it became susceptible to other influences and was co-opted by big business interests who feared it’s origins and the core message that Ron Paul and his supporters had started. These outside influences wanted to ensure that Ron Paul’s core ideals did not become mainstream and so they began to slip in other ideas that didn’t fit Ron Paul’s message but that could be used to discredit the tea party. Essentially you started to see the tea party look more and more like neocon Republicans, although some of the original ideas still remain.

Ron Paul : Audit the gold

6-19-2010: In the News

As usual there’s too much going on right now to sufficiently blog about all of it, here’s some links:

Ten Stories In The News That The BP Oil Spill Is Overshadowing , Prison Planet

H.R.5175 – DISCLOSE Act, Open Congress

DISCLOSing Contempt for Liberty and the Constitution, The Heritage Foundation

Obama Admin Keeping Blackwater Armed and Dangerous in Afghanistan, The Nation

Gold sets another record amid recovery uncertainty, SF Gate

Sincerely Yours: Another Legal Triumph for the Obama-Yoo Administration, Empire Burlesque

“Obama bade his legal henchmen — his own personal John Yoos, as it were — to tell the Supreme Court that it should kill the Canadian citizen’s case seeking compensation for his unlawful arrest by U.S. officials, who then rendered him not unto Caesar but to the untender mercies of Syria’s torture cells. The Robed Ones agreed, dismissing, without comment, Arar’s appeal of a lower court ruling that quashed his case — a decision that Scott Horton rightly likened last year to the Dred Scott case, which upheld the legality of slavery, even in states which prohibited it.”

Ron Paul on Gulf Oil Spill: There Should Be No Limits On Liability

Armada of U.S. and Israeli Warships Head for Iran , Infowars

Amy Goodman on Obama, Gaza attack, BP oil spill, & corporate-controlled media

Given her track record, Goodman is definitely someone who is motivated by principle and not by corporate sponsorship. Here she gives her views on Obama—  specificially saying that he is an “enormous disappointment” on the issue of expanded wars, bank bailouts, unemployment, torture, and his handling of the BP oil spill.

“I think the media has to be independent, it’s brought to us by corporations in the United States… when media is covering war they’re brought to you by weapons manufacturers, when they’re covering the oil spill in the Gulf of Mexico they’re brought to you by the oil companies, when were covering the massy coal explosion in West Virginia they’re brought to you by the coal industry, they’re brought to you by the gas industry…”

Rand Paul on CNN: ‘Get Our Fiscal House in Order’

Great to see Rand take the primary win in Kentucky. Few non-presidential political candidates have to face tough questions from national media the way that Rand Paul is having to face them.  Given the state of the economy however, some of the questions posed by CNN anchors to Rand here about the economy and about the people who depend on welfare, seemed very unintelligent— Rand is quick to point out that if the debt crisis in the U.S. isn’t fixed soon, there won’t be a welfare state left to debate about. Just look at Greece.

Audit The Fed Bill “gutted” While Moving Toward House Vote

Who is Mel Watt representing?

Oct. 30 (Bloomberg) — Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.

The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.

“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”

..Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.

…Paul said he intends to introduce an amendment to the bill when it comes to the House floor for a vote restoring the legislation’s original language.

Full Article…

Ron Paul says “Its Not Over Yet”

75% of Americans Favor Auditing The Fed

“So much for the ongoing secrecy of the nation’s independent central banking system. A new Rasmussen Reports national telephone survey finds that 75% of Americans favor auditing the Federal Reserve and making the results available to the public.

Just nine percent (9%) of adults think that’s a bad idea and oppose it. Fifteen percent (15%) aren’t sure.
Over half the members of the House now support a bill giving the Government Accounting Office, Congress’ investigative agency, the authorization to audit the books of the Federal Reserve Board.

Support for the bill has grown now that the Obama administration is proposing to give the Fed greater economic regulatory powers. The Fed which sets U.S. monetary policy was created as an independent agency to keep it free of politically-motivated interference.”

Full Article…

Marcy Kaptur Grills Bernake

Sen. Demint Takes ‘Audit the Fed’ Battle to the Senate

“After Senator DeMint brought Audit the Fed to the floor, Senator Ben Nelson of Nebraska raised a “point of order” to prevent a vote, claiming that the amendment violated Senate Rule 16 by “legislating” on an appropriations bill. The Senate president agreed, and the amendment was shot down.

Senator DeMint did not back down, though, and directly challenged Senate leadership by pointing out the other GAO audits contained in the bill. As Senator DeMint listed them off, the Senate president was forced to agree with Senator DeMint that each one he described, all of which would be left in for final passage, also violated Senate Rule 16.

So the issue wasn’t about “legislating” on the bill or violating the Senate Rules (which is commonly done), it was about preventing a thorough audit of the Federal Reserve for the first time in its history!”

—Campain For Liberty

Paul: ‘This is allowing the fox to protect the henhouse’

Gerald Celente: Washington is Wall St. and Wall St. is Washington

Audit the Fed Bill To Reach the House Floor

With reports of a House majority sponsoring HR 1207, it looks like the Audit the Fed bill will reach the House Floor.

Fed Would Be Shut Down If It Were Audited, Expert Says
Yahoo Finance/CNBC, 6.10.09
The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant’s Interest Rate Observer, told CNBC.

With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.

“If the Fed examiners were set upon the Fed’s own documents-unlabeled documents-to pass judgment on the Fed’s capacity to survive the difficulties it faces in credit, it would shut this institution down,” he said. “The Fed is undercapitalized in a way that Citicorp is undercapitalized.”

Jake Towne reporting at Goldseek.com provided a status report along with Q and A about HR 1207:

“…A win in the House now appears likely, so I would say the gravest threat is that the bill will die in the Senate.”

Town recommends using “DownsizeDC’s “Audit the FED” Campaign to thank or urge your representative and Senators to co-sign this bill. However, writing directly to your Senator’s office and placing a phone call are also recommended.”

Update from Ron Paul on 1207, June 12th, 2009:

Bob Chapman: Real Unemployment Figure at 20.2%

Bob Chapman speaking on the Alex Jones show, breaks down the unemployment numbers pointing out that according to the 1980s formula for figuring unemployment, we’re currently at 20.2%. (Luckily we figure it differently now.)