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RonPaul2008dotcom님이 새 동영상을 올렸습니다.
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RonPaul2008dotcom님이 새 동영상을 올렸습니다.
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Sign the Ron Paul 2012 Petition at http://www.RonPaul2012.net
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04/04/2011
Last week...
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Sign the Ron Paul 2012 Petition at http://www.RonPaul2012.net
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04/04/2011
Last week I was both surprised and pleased when the Supreme Court upheld lower court decisions requiring the Federal Reserve Bank to comply with requests for information made by Bloomberg under the Freedom of Information Act ("FOIA"). Bloomberg simply wanted to know who received loans from the Fed's discount window in the aftermath of the 2008 financial market crisis, and how much each entity received. Surely this is basic information that should be available to every American taxpayer. But the Fed fought tooth and nail all the way to the Supreme Court to preserve their privileged secrecy. However, transparency and openness won the day. There are some 29,000 pages to decipher, but a few points stand out initially.
The Fed lent huge sums of our money to foreign banks. This in itself was not surprising, but the actual amount is staggering! In one week at the height of the crisis, about 70% of the money doled out went to foreign banks. We were told that bailing out banks was going to stave off a massive depression. Depression for whom? We now know that the Fed's bailout had nothing to do with helping the American people, who have gotten their depression anyway with continued job losses and foreclosures. But now we learn that a good deal of the money did not even help American banks!
In light of recent world events, perhaps the most staggering revelation is that quite a bit of money went to the Arab Banking Corp., in which the Libyan Central Bank owned about a third of its stock. This occurred while Libya, a declared state sponsor of terrorism, was under strict economic sanctions! How erratic the US must appear when we shower a dictator alternately with dollars and bombs! Also, we must consider the possibility that those loans are inadvertently financing weapons Gaddaffi is using against his own people and western militaries. This would not be the first time the covert activities of the Fed have undermined not only our economy and the value of the dollar, but our foreign policy as well.
Of course I can't say I'm surprised by the poor quality of the data provided by the Fed. The category of each loan made, whether from the "Primary Discount Window", the "Secondary Discount Window," or "Other Extensions of Credit," is redacted. Thus, we don't know with certainty how much discount window lending was provided to foreign banks and how much was merely "other extensions of credit". Also, some of the numbers simply do not seem to add up. We are of course still wading through the massive document dump, but it does seem as though several billions of dollars are unaccounted for.
As the world economy continues to falter in spite of - or rather because of - cheap money doled out by the Federal Reserve, its ability to deceive financial markets and American taxpayers is coming to an end. People are beginning to realize that when the fed in effect doubles the worldwide supply of US dollars in a relatively short time, it has the effect of stealing half your money through reduced purchasing power. Rapid inflation will continue as trillions in new money and credit recently created by the Fed flood into the commodity markets.
It is becoming more and more obvious that the Fed operates for the benefit of a few privileged banks, banks that never suffer for bad decisions they make. Quite the opposite - as we have seen since October 2008, under our current monetary system politically-connected banks are paid to make bad decisions.
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Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a sensible pro-America foreign policy.
For more information visit the following websites:
http://www.RonPaul.com
http://www.RonPaul2012.net
http://www.LibertyPAC.com
http://www.RonPaulNews.com
http://www.CampaignForLiberty.com
http://www.house.gov/paul
http://www.DailyPaul.com
http://www.RonPaulForums.com
http://ronpaul2012.podbean.com
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RonPaul2008dotcom님이 새 동영상을 올렸습니다.
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03/28/2011
Hello, th...
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Sign the Ron Paul 2012 Petition at http://www.RonPaul2012.net
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03/28/2011
Hello, this is Ron Paul with your weekly update for March 28th.
Last week the Obama Administration took the United States to war against Libya without bothering to notify Congress, much less obtain a Constitutionally-mandated declaration of war. In the midst of our severe economic downturn, this misadventure has already cost us hundreds of millions of dollars and we can be sure the final price tag will be several times higher.
Why did the US intervene in a civil war in a country that has neither attacked us nor poses a threat? We are told this was another humanitarian intervention, like Clinton's 1999 war against Serbia. But as civilian victims of the US-led coalition bombing continue to add up, it is getting difficult to determine whether the problem we are creating on the ground is worse than the one we were trying to solve.
Though the administration seems to be playing with semantics, calling this a "kinetic military action," let's be clear: this is a US act of war on Libya. Imposing a no-fly zone over the air space of a sovereign nation is an act of war, as Secretary of Defense Robert Gates pointed out before the bombing began. That the administration hesitates to call this war, possibly due to the troubling Constitutional implications, does not mean that it is not one. Article 1 Section 8 of the Constitution could not be clearer: the power and obligation to declare war resides solely in the US Congress.
There was ample time and opportunity for the administration to consult the UN, NATO and the Arab League before going to war, but not the US Congress.
Aside from the manner in which the administration took us to war, it is also troubling that our government has taken a decisive stand for one side of an internal conflict in another sovereign country. The administration speaks out of both sides of its mouth on this, claiming that the US is not attempting to overthrow the Gaddafi regime while clearly benefitting the rebels and stating that Gaddafi must leave. Does this make any sense? Gaddafi may well be every bit the "bad guy" we are told he is, but who are the rebels we are assisting? Do we have any clue? Will they bring freedom and prosperity to Libya if they are victorious? We might like to hope so, but the fact is, we don't know. Michael Scheuer, former head of the CIA's Bin Laden unit, explained in a recent article that there is plausible reason to believe the rebels are current or former Islamist mujahedin, eager to engage in jihad. Indeed, Gaddafi has fought against Libyan Islamists for years and is seen by them as a bitter enemy. Astoundingly, it may well be that we are assisting al Qaeda in this new war!
The costs of this terrible mistake cannot be ignored. Congress has been locked in battles over budget cuts and agonizing over ways to save money. Recent proposed spending cuts have by now been completely wiped out with this new war! Will we be rebuilding Libya ten years from now? Will Congress simply roll over and rubber stamp more emergency spending bills for this new war as they have done in the past? We must end our participation in any attack on Libya immediately and I have signed on to legislation that would do exactly that. Congress must assert its Constitutional authority and rein in an administration clearly out of control.
Thanks for calling this update. A new update is placed on this number, 888-322-1414, every Monday, the written text of which can be found on my website www.house.gov/paul under the heading "Texas Straight Talk". Thanks for calling.
--
Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a sensible pro-America foreign policy.
For more information visit the following websites:
http://www.RonPaul.com
http://www.RonPaul2012.net
http://www.LibertyPAC.com
http://www.RonPaulNews.com
http://www.CampaignForLiberty.com
http://www.house.gov/paul
http://www.DailyPaul.com
http://www.RonPaulForums.com
http://ronpaul2012.podbean.com
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RonPaul2008dotcom님이 새 동영상을 올렸습니다.
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RonPaul2008dotcom님이 새 동영상을 올렸습니다.
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RON
RUN
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