The trillion-dollar Wall Street bailout plan negotiated by the White House and Congress has reinvigorated the debate about Texas Republican Rep. Ron Paul’s Federal Reserve Board Abolition Act (HR 2755), which was introduced into Congress in June 2007.
In the halls of Congress, legislators have y... more
The trillion-dollar Wall Street bailout plan negotiated by the White House and Congress has reinvigorated the debate about Texas Republican Rep. Ron Paul’s Federal Reserve Board Abolition Act (HR 2755), which was introduced into Congress in June 2007.
In the halls of Congress, legislators have yet to bring Paul’s bill to the floor. It is currently languishing in the House Committee on Financial Services.
Constitution Party presidential candidate Chuck Baldwin has made abolishing the Fed one of the top planks in his platform.
Paul’s measure, as it is now, would kill the Federal Reserve Act and would then phase out the Federal Reserve one year after the bill becomes law.
The Federal Reserve Act, passed by Congress in 1913, laid the foundation for the creation of a privately owned and controlled central bank and gave private bankers the power to control the nation’s money supply.
Talk show host Glenn Beck has also assailed the Federal Reserve for its role in the financial crisis. On September 15, Beck had a lively debate about who exactly owns the Federal Reserve.
“The Federal Reserve has nothing to do with the government,” said Beck. “It’s a separate, global banking system. . . . And when everyone was meeting with our Secretary of Treasury Henry Paulson, I thought to myself: ‘Who the hell is representing us, the American people?”
Ron Paul financial advisor Paul Schiff responded: “The Fed got us into this mess. It drives me crazy to see Alan Greenspan on television talking about this ‘100 year flood,’ like the events that are taking place today are random and have nothing to do with his monetary policy."
Wall Street Journal editorial writer Steven Moore added: “And by the way, who elected Ben Bernanke? Who elected Alan Greenspan?”
Real Conservative
The FED has almost succeeded in destroying the dollar. Our dollar today, after the Federal Reserve took over its worth, is worth only 3 to 4 cents of what it was in 1913, in that year when the FED was created. Would you keep on an employee or contractor that destroyed 96% of your value? I wouldn't !!!
pucksmith
I have a hard time believing that members of congress who benefit from being able to spend with out having to raise taxes would kill this egg-laying goose, but a truly rebuild, renergized party might show me I was wrong.
coolwise
@rustle
I agree with your statement. This was in our State (Nevada) Republican Platform to Abolish the Federal Reserve. They are the ones that cause this economic crisis and the hell if they are the ones who going to fix this mess. Back to the Constitution that Congress can coin money not some private tax free company. It wasn't for the Federal Reserve we would not have an Income Tax. Duh!!!
patriot123
www.bostonteaparty08.com
Heywood Jablome
I wouldn't assume that the deletion of the duplicate idea with a greater post count was done maliciously. Just from navigating this site, I'm fairly certain that it was simple incompetence.
rustle
I am very frustrated with the Admin of this site - last week this very topic was in the top 3!
Then all of a sudden I get an email that says my votes from that topic were returned due to an overlapping of ideas. Of course the high vote total post was deleted! Unacceptable!
If you hacks want to listen - start by taking your neo-conservative fingers out of your ears on this matter!!!
Flash
What was the point of the GOP making this website if they won't listen to their online community? Of course Ron Paul dominates the internet, it is because his fans are young. The internet is full of young people. Not 50-year old Christians who pray at night for god to kill palestinians.
SeekingMyZen
How pathetic.. deleting the original 'End the Fed' idea which had 1146 votes saying it was a repeat of this idea. Wouldn't common sense cause you to delete THIS idea with virtually zero votes and leave the other? THIS is the exact type of behavior that has ruined the party!! STOP SILENCING THE PEOPLE!
Elwar
This idea will be deleted in 5...4...3..2..
endfed1
Paper is not money.