Why does Democratic Wisconsin Congresswoman Tammy Baldwin (D-WI) continue to refuse to cosponsor H.R 1207 that will allow the auditing of the central bank in America? Maybe her friends on Wall Street have asked her not to do it. With all the money that she voted to be moved out of Wisconsin to Wall Street, I’m sure she isn’t excited about auditing the central bank of America. Tammy Baldwin is a Democrat that does NOT believe in protecting the common person against corrupt practices by a central bank monopoly.
Thankfully, Tim Nerenz Will Replace Tammy In 2010
Thankfully, Tim Nerenz will be replacing Tammy Baldwin in the 2nd Congressional District in 2010. Check out his website.
Tim Geithner, a financial bozo bureaucrat in this video below looks like he would make a great replacement for Tim, Tim, Timmy on South Park. Watch him stutter as Congress asks him where in the Constitution it allows for a Federal Reserve system:
Why do Wisconsin’s representatives, Tammy Baldwin and Paul Ryan, continue to escape from signing on as co-sponsors to legislation that will help regulate America’s largest private bank monopoly, the 12 Federal Reserve banks? Again, the 12 Federal Reserve banks are no more federal than Federal Express. They are completely private banks and the Federal Reserve system has a monopoly on setting interest rates and printing money. Maybe Wall Street has told their puppet candidate, Tammy Baldwin, who continues to vote to move money out of Wisconsin and into the vaults of Wall Street’s banks, to stand down. Again, I continue to be convinced that Tim Nerenz will be an excellent replacement for Tammy Baldwin to represent the individuals of Dane County next year.
If you are one of the above, then answer this question: “What is the Federal Reserve, and why do we need it?”
If you cannot answer the question then you are extremely ignorant. I say extremely because as a private bank, the Federal Reserve has a monopoly on setting interest rates and printing money. Hardly a small force they play in the economy. Why do they have a monopoly? Is it necessary? What are the side-effects of allowing a private bank to have such a monopoly? Why do we have anti-trust laws but don’t apply them to America’s largest bank? Why does America’s largest bank go 100% unregulated?
I know the answers to these questions, which is why I think people should be asking these questions and know the answers. I laugh at Progressives and liberals of all stripes that cry aloud for more regulation, yet the largest private bank that has a 100% monopoly on setting interest rates and printing money goes unrecognized by them. Most of the people of the left have absolutely no understanding or care about this private bank. Conservatives likely have no clue either or fallaciously believe it is part of a free market. Unlike the woefully ignorant individuals on the left and right, I believe this decrepit institution needs regulation, transparency, and possibly outright abolition. Maybe more people of the left would believe this also if they knew anything about this bank. But, one state of being is not knowing what you don’t know. That is a dangerous state of being though.
Where are the Progressives and liberals on this issue of regulation? When will they pull their heads out of the sand?
One reason that Progressives and liberals should care is as Thomas E. Woods says, “If you want to stop the war machine, you have to go after the money machine”.
Help get the word out about the Fed by helping Get Tom On TV! Watch this quick video of Tom and get a small clue yourself.
“Treat the underlying problem in the financial markets (the existence of the Federal Reserve) instead of the symptoms (potential bankruptcies)? That’s ludicrous!”
Overstock.com’s CEO Patrick Byrne talks with reason and quotes Milton Friedman and Ludwig von Mises. Stuart Varney spews some blarney.
From the lips of Paul Ryan comes this hilarious take on how to ’solve’ the inflation problem in America:
Due to the serious threat that inflation poses to our economy, I have introduced H.R. 6053, the Price Stability Act. Currently, the Federal Reserve Bank has a dual mandate: to promote full employment as well as price stability. Unfortunately, these goals, while laudable, can lend themselves to contradictory policy responses. For example, we are currently seeing both rising unemployment and increasing inflation. Traditionally, the policy response to rising unemployment would be to lower interest rates to stimulate the economy; however, the response to increasing inflation is to raise interest rates. With these competing aims, the Federal Reserve finds itself in a difficult position.
The Price Stability Act would solve this problem by removing the dual mandate. It would instead give the Federal Reserve only one mandate – to maintain price stability. It is important to recognize that, by virtue of its control of monetary policy, the Fed is the only institution that can control inflation over the long-run. By providing stable and foreseeable prices, businesses and individuals are better able to plan for the future and provide continued growth for our economy. Additionally, stable prices would ensure the continued buying power of our wages.
Wow, what a complete waste of time and effort trying to solve the inflation problem, not to mention a very socialist attitude regarding the creation of money. It appears that the only political party left to defend freedom in commerce is the Libertarian Party. The Republican parasite Paul Ryan is holding fast to Keynesian junk science regarding the viability of price stability through government manipulation of interest rates and printing presses. I guess this big government worshiper doesn’t understand that price stability can never happen. Prices always fluctuate to reflect the new information regarding the supply of and demand for the Earth’s natural resources. However, maybe Paul Ryan is more intelligent than I give him credit for. It is possible that in wanting ‘price stability’ he is referring to getting rid of or reducing the continuing rise of prices of most products in the market (which uninformed pseudo-economists incorrectly call inflation). Well, then again we find that Paul Ryan is still misinformed about proper economics. If he is wanting to get rid of the continuous rise in the general price level, than his Price Stability Act surely will be a failure. Paul Ryan wants the Federal reserve to have only one mandate—control inflation. Now this is absolutely hilarious for it is the Federal Reserve itself which inflates the money supply and causes the subsequent rise in the general price level! Mr. Paul Ryan, how in hell is the Federal Reserve going to control price increases when it is the Federal Reserve’s very existence that causes the rise in the general price level!?!?!? Well, politicians aren’t exactly the brightest bulbs in the world. What is so disastrous about this entire comedy is that it is Republican idiots like Paul Ryan who preach about the glories of free markets but have no idea what in the hell that means! What is needed is for more libertarians to run for office to obtain a platform to reach broader audiences to put people like Paul Ryan in his place. Call him out. Tell the public what he really is so that Republican shams like him stop calling socialist policies the ‘free market’. We need true free market libertarians to shout from the rooftop that these big-government-loving Republicans hate the free market for money and love their twisted socialist/fascist monetary schemes.
This great book, What Has Government Done To Our Money?, by Murray Rothbard shows the futility of the Federal Reserve controlling the continuous rise in the general price level. Here and below are some true monetary free market lovers shouting it loud and clear!
Immense gratitude goes to one of the commenters in this forum for the idea for this post title.
As the federal government continues to borrow and print paper money (because it is bankrupt) and directs it into unprofitable worthless financial companies and now incompetent automakers, the federal government is destroying thousands of good profitable jobs and companies as profitable firms will not have access to this capital redirected by government. As Peter Schiff mentions in these videos, government is directing capital away from profitable use and funneling it into unprofitable use. Then, because the federal government has destroyed valuable profitable firms and products, customers decide to hold their cash as they don’t want to purchase the products offered by the firms that the government has bailed out. Giving money to incompetent automakers does not change the fact that customers still will not buy the products of these failed institutions. This creates a recessionary effect over short and long periods of time and so government will then feel it must try to correct the recession they have created. How do they attempt to fix it? By borrowing and printing more scraps of Federal Reserve Notes. They do this directly through printing presses and indirectly by lowering interest rates. Of course, printing more scraps of paper then what was already in circulation doesn’t create wealth or fix the problem of unwanted products, but it does create inflation. Well, maybe with all those trillions of scraps of worthless paper (the US dollar) the federal government has been printing, the worthless soon-to-bailed-out firms of GM and Chrysler will be mandated by government to produce a hybrid that runs on these worthless notes. That would be a fitting relationship—three failed institutions, the Federal Reserve, GM and Chrysler teaming up to produce a worthless product that runs on worthless scrap paper—neither of which there will be any shortage of in the future thanks to government intervention. Imagine what a wonderful world would we live in if companies succeeded or failed based on how well they met the needs of individuals in society.
Peter Schiff on CNN Auto Bailout Intense Debate! 12/4/08 part 1/2
Peter Schiff on CNN Auto Bailout Intense Debate! 12/4/08 part 2/2
The Federal Reserve will end this economic crisis! Right?
In a parallel universe near planet Earth exists a reality unlike ours. If one were to look at it from a telescope, one would see a bunch of clowns dressed in suits running around yelling something about how their “animal spirits” have revealed to them the source of all wealth. These clowns yell with loud obnoxious force that wealth is created by endless consumer spending on anything and everything (absolutely no discretion) financed by borrowing newly printed scraps of paper created hourly (without end) by one single magical machine stored in a central bank. Unfortunately, a lot of these kooky nuts from this parallel universe have traveled to planet Earth and taken up residence. The horrendous part is that these crazy clown aliens have taken up spots on national TV as guests and tell audiences that Earth is also guided by this wackaloon theory of wealth. Alas, there is one man, Peter Schiff, who continues to sniff out and repudiate these aliens. The video above shows this taking place over the last few years. The video is a series of guest appearances by Peter Schiff and these aliens on national TV in 2006 and early 2007. Both Schiff and the alien-clowns give their predictions of the economy (Earth’s economy) for late 2007 and throughout 2008. Schiff shines with brilliance as he uses tools previously discovered by humans that are essential for interpreting Earth’s economy—reason and understanding. The clown-like alien creatures speak in unintelligent blather muttering something that resembles an ancient barbaric anti-intellectual pseudo-logic to us but apparently is still in use in their parallel universe—Keynesianism (also known as the religion of Inflationism). Below I summarize the sane predictions of Peter Schiff (all of which turned out to be true) and then I reveal the names of the clown-like aliens and summarize their mutant predictions (all of which turned out to be false).
Remember these predictions come from 2006-2007.
Peter Schiff – (Human from planet Earth)
Schiff’s summary of problems in U.S. economy in 2007:
1. There is currently too much consumption
2. There is currently too much borrowing
3. There is currently not enough production and savings
Schiff’s predictions for 2008:
1. Consumers will stop consuming
2. Consumers will start rebuilding their savings – especially since home equity will evaporate
3. Current imbalances cannot be addressed without a recession
4. Financial stocks are toxic
5. Financial stocks are going to get hit hard and suffer big losses
Schiff’s tips and insights for humans for 2008:
1. Embrace the coming recession and don’t resist it
2. The disease is debt-financed consumption
3. The cure is that we stop consuming and start saving and producing
Art Laffer – (I wonder if he meant to spell his last name Laughter? This alien is really stupid but he gives me much to laugh at!)
Laffer’s comment:
1. Doesn’t believe any of what Schiff says above (Laffer says with laughter, but probably not laughing now!)
Laffer’s interpretation of Earth as he sees it with his alien eyes:
1. Wealth has risen dramatically
2. There will be NO tax increases over the next couple of years (Read his alien lips!)
3. Monetary policy is spectacular!!! (Hahaha, this is ridiculously stupid and funny!!!!)
4. We have freer trade than ever before
5. Peter is totally off-base (Actually Peter was correct now that 2008 has played out!)
6. There will NOT be a crash (Hahaha, this is also stupid and fills me full of laughter!!!)
Other miscellaneous clown-like aliens that showed their disgusting mugs in 2006-2007 to make ridiculously stupid predictions.
Michael Norman – (I thought Art Laffer was a moron until I heard this clown start jabbering his weak jaws. Does anyone still listen to Mike Norman after this pathetic showing of ignorance in 2007?)
Norman’s comments:
1. (Actually, Michael Norman just laughs at Schiff without much comment).
Ben Stein – (An alien that once studied the religion of Keynesianism and continues to use its barbaric theories to make likewise barbaric predictions which all turn out false)
Stein’s blathering predictions:
1. Stocks will be a heckuva lot higher in 2008 than 2006-2007
2. Merrill Lynch is a great buy in 2007!!! (Hahaha, maybe he meant it was a great buy for another company!!! Hahahaha!!!)
Stuart Varney – (Nothing like a clown-like alien with a British accent!)
Varney’s blarney:
1. The worst is over (He was talking about 2007 and implying 2008 would be great!)
2. Financial stocks are a great buy!!! (Hahaha!)
3. Central banks are going to save everyone (He apparently had visions of Bernanke dropping money from the Federal Reserve helicopter and putting out the infamous flames of underconsumption)
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