Big day for Ron tomorrow....

[wgadget]

Hoping for some brilliant attention-getting fireworks with The Bernank! And I hope the news coverage asserts that Ron is up for nomination at the RNC.

http://c.washingtontimes.com/neighborhood/ad-lib/2012/jul/17/Ron-Paul-confront-Fed-Chair-Bernanke-fireworks/

[JK/SEA]

Wednesday he’ll testify before the House Financial Services Committee (LIVE at 10am ET on C-SPAN3).

[jkr]

let it all fly Doctor

[Tiso0770]

Can you imagine, if he succeeds with this 'Audit the Fed', wouldn't he be well respected among Americans?.... and succeeded where others have failed during American history?. Think about that.

[ClydeCoulter]

Can you imagine, if he succeeds with this 'Audit the Fed', wouldn't he be well respected among Americans?.... and succeeded where others have failed during American history?. Think about that.

I doubt the average person will understand. Even if Ron Paul were to get elected as president, abolish the fed, put us back on sound money and rid of us of 1 trillion in deficits the MSM would demonize all of his efforts and talk about how people were hurting because of it. And there would be some hurting to start with. It's not a road that would be easy to travel, but a road that must be traveled for our future and the future of our children and grandchildren.

edit: Have you ever tried to talk to the average non-college-grad person about the devaluation of the dollar? They just don't get it, a dollar is a dollar to them, they see the piece of paper and cannot understand that prices going up means the dollar went down. They see a dollar bill as a dollar.

[Freespeech468]

I doubt the average person will understand. Even if Ron Paul were to get elected as president, abolish the fed, put us back on sound money and rid of us of 1 trillion in deficits the MSM would demonize all of his efforts and talk about how people were hurting because of it. And there would be some hurting to start with. It's not a road that would be easy to travel, but a road that must be traveled for our future and the future of our children and grandchildren.

edit: Have you ever tried to talk to the average non-college-grad person about the devaluation of the dollar? They just don't get it, a dollar is a dollar to them, they see the piece of paper and cannot understand that prices going up means the dollar went down. They see a dollar bill as a dollar.

Your Average Joe here, I DO understand what is going on with the FED. Altho i did not know about it until these awesome times arrived but i have woken up all of my friends and folks in my neighborhood about them and they want to see this get Audited all the way.

never believe that a few caring people cannot change the world, For indeed That Is All Who Ever Have...

[ClydeCoulter]

Your Average Joe here, I DO understand what is going on with the FED. Altho i did not know about it until these awesome times arrived but i have woken up all of my friends and folks in my neighborhood about them and they want to see this get Audited all the way.

never believe that a few caring people cannot change the world, For indeed That Is All Who Ever Have...

I am an average Joe as well, but most of the people I talk to around here just don't get it, don't care and believe they can do nothing about it if they did.

I already know we can succeed, it's just a matter of time, but, that was not my point. To think that everyone will be blissful about it is not realistic. While many Americans are now saying that an audit is good, not nearly as many understand what it will mean, only that something is wrong.

Maybe you don't remember the screaming from the talking heads about how the bailout was necessary or there would be missery for everyone down to the roaches under your kitchen counter. That's nothing compared to what will happen if an audit even looks to get passed. Hence my remark about the MSM "educating" people about the dangers and the like.

[tangent4ronpaul]

http://www.thenewamerican.com/usnews/congress/item/12107-ron-paul%E2%80%99s-final-questions-for-fed-chairman-ben-bernanke

Ron Paul’s Final Questions for Fed Chairman Ben Bernanke
Written by Bob Adelmann

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Ron Paul’s Final Questions for Fed Chairman Ben Bernanke

When Federal Reserve Chairman Ben Bernanke appears tomorrow before the House Financial Services Committee, he’ll be facing, for the final time, his nemesis, Representative Ron Paul (R-Texas), author of End the Fed.

In the past, Paul has used kid gloves in his usual mild-mannered way to quiz and challenge the Fed chairman, asking him about the conflict between the Fed’s stated policy of maintaining a stable dollar and the huge loss of purchasing power of the dollar under the Fed’s tender care. He has asked the chairman about real money compared to paper money or money created out of the ether. He even waved a silver dollar in front of the chairman, asking him if it wasn’t real money after all.

Tomorrow is his last chance to ask such questions. Here are some proposed questions the Texas congressman might consider in his efforts to expand the conversation about the Fed and extend citizens’ understanding of the Fed’s role in destroying the dollar and creating the business cycle of booms and busts, especially the current one.

First question: “Mr. Chairman, one of the roles of the Fed is to maintain a stable dollar. Would you explain, once again, for the benefit of myself and for the committee, how the Fed has managed to meet that role in light of the fact that, according to a popular web-based inflation calculator, it would take $2,317 in today’s money to buy what just $100 would have bought a hundred years ago? Just how do you explain that, please?"

Second question: “Mr. Chairman, what is your understanding of the difference between real money backed by gold and silver versus the paper money that has no backing today? Specifically, what actually backs up the paper money in our system today?"

Third question: “Mr. Chairman, can you explain for us the morality involved when the Fed creates new money, which it then lends out to its member banks on which those banks charge interest? In other words, what is the morality of charging interest on money created out of thin air?”

Fourth question: “Mr. Chairman, a year or so ago Huffington Post did an extensive analysis of the Fed’s role in quashing dissension by buying up most of the economics profession through contracts, grants, or other financial incentives. For instance, over a three-year period ending in October 1994 the Fed awarded $3 million in contracts to some 200 professors, while in 2008 the Fed spent $389 million for those same services, a number that, according to HuffPost, jumped to $433 million in 2009.

Please explain for the committee how this expenditure advances the understanding of monetary policy when all it appears to be doing is advancing the cause of the Federal Reserve?”

Fifth question: “In light of our current economic weakness — as you carefully noted yesterday in your testimony in the Senate — and your promise made back in 2002 when you said:

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna [Friedman]: regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.

And yet an increasing number of indicators are showing that we are in fact headed back into another recession. Can you explain what exactly you have learned in the meantime, and why what you are doing isn’t keeping us out of another one? “

Final question: “Mr. Chairman, in that same testimony before the Senate yesterday you reviewed our current dismal economic situation, but then reiterated the decision made by the Federal Open Market Committee (FOMC) in June that — quote — ‘it is prepared to take further action as appropriate to promote a strong economic recovery….’ Just what additional actions is the Fed going to take that it hasn’t already taken which haven’t worked?”

There is little likelihood that any of these questions, or variations on them, are likely to be asked by the good representative from Texas. He is too much a gentleman for that. But the questions that he is likely to ask will be carefully crafted to extend and expand the conversation and the understanding of the destructive role the Fed has played, and continues to play, in the current economic environment. Because Paul has a long-term view of history and his role in creating such understanding, he is optimistic:

We’re making inroads. We have a younger generation right now that’s more informed about the Federal Reserve than I ever dreamed would happen.

Thank you, Mr. Paul, for your role in creating that greatly improved understanding among that younger generation. May your last conversation with the head of the Fed by a memorable one!

[Freespeech468]

I am an average Joe as well, but most of the people I talk to around here just don't get it, don't care and believe they can do nothing about it if they did.

I already know we can succeed, it's just a matter of time, but, that was not my point. To think that everyone will be blissful about it is not realistic. While many Americans are now saying that an audit is good, not nearly as many understand what it will mean, only that something is wrong.

Maybe you don't remember the screaming from the talking heads about how the bailout was necessary or there would be missery for everyone down to the roaches under your kitchen counter. That's nothing compared to what will happen if an audit even looks to get passed. Hence my remark about the MSM "educating" people about the dangers and the like.

I understand, but if you think we can succeed shouldn't that push to harder? Educating is impractical if none of those people want to do anything about it, A family member of mine blatantly Denies any of this is happening without any evidence; I think its a denial phase. But i came to a realization that he isnt even a Registered Voter let alone affiliated with a party and never has voted in his life. better to save my breath for other individuals who can keep an open mind. LOL

[MelissaCato]

here we go .. woot woot

[mikebz5]

Linky

http://www.c-span.org/Live-Video/C-SPAN3/

[Cody1]

Bernanke was just asked about Dr. Paul's Audit the fed bill, his voice started to get a little shaky towards the end lol

Barney Frank has no idea in what the hell he is talking about.

GET UM PAUL, AUDIT THE FUCK OUT OF MONETARY POLICY.

[newbitech]

Nak Nak - "We'll do whatever Congress tells us to do."

So much for Federal Reserve Independence, right?

[thatpeculiarcat]

Barney Frank has no idea in what the hell he is talking about.

I don't even know what he's talking about.

[CaptUSA]

Nak Nak - "We'll do whatever Congress tells us to do."

Yeah, he must have learned that from Justice Roberts.

[MelissaCato]

woot Ron Paul is drilling Ben... I love it I love it

[Cody1]

holy crap Ron is getting mad

[CaptUSA]

Can't wait to see this tube!!!

[Dublin4Paul]

lol, you could tell Ron was getting legitimately pissed off there. It was a good grilling while it lasted.

[staerker]

Good stuff. It makes me cringe to see how many fools are surrounding Dr. Paul, though.

[Cody1]

Wow, I feel like I should be up there questioning Bernank a dank.

Rep. Clay, give it up. The fed can't do anything about African American unemployment, it's a social problem.

Saving our currency might help, but it's more of a social issue.

[thatpeculiarcat]

I walked away for a few seconds and came back and all I'm hearing is things concerning race.

I don't even.

[tfurrh]

Bernanke is terrible...just terrible.

[georgiaboy]

thanks for the sunlight, Dr. Paul.

[Dublin4Paul]

Good stuff. It makes me cringe to see how many fools are surrounding Dr. Paul, though.

Agreed. I don't know what the fuck would even be the point in having these things unless Ron was there. Almost literally everyone else in this committee simply licks Bernanke's boots.

[James Otis, Jr.]

The Democrats on this committee are an embarrassment to the nation.

[Cody1]

Wow, some serious democrat ass kissing.

[Cody1]

AWWWWWWWW

Rep. Jones just yielded all his time to Dr. Paul.

[newbitech]

more ron paul

[tfurrh]

that was very nice.

[smithtg]

ron is back up

[thatpeculiarcat]

YES! Thank you Walter!

[georgiaboy]

awesome! Walter Jones yielded his time to Ron Paul!

"The man I supported for president of the United States"

[Cody1]

awesome! Walter Jones yielded his time to Ron Paul!

"The man I supported for president of the United States"


You can see he feels as if he carries a huge burden. He mentioned his iraq vote again, that's really getting to him.

[Paulistinian]

Is there going to be a tube?

[smithtg]

Bernanke is an ass clown. Totally shot that guy down about his inflation argument.

When he is fucking burning his worthless FRN's Ill remind him what he said

[ronpaulhawaii]

looking forward to the tube :D

And about the following:



edit: Have you ever tried to talk to the average non-college-grad person about the devaluation of the dollar? They just don't get it, a dollar is a dollar to them, they see the piece of paper and cannot understand that prices going up means the dollar went down. They see a dollar bill as a dollar.

I do it all the time.

I carry an old silver dollar with me all the time. If the convo turns to this subject I take the dollar out and explain how this dollar could buy a pair of shoes in 1912 (before the Fed), that it is worth about $30 today and can still buy a pair of shoes, AND the same amount could buy a pair of sandals in ancient Rome...

Most people "get it" as they tumble the coin in their hands.

[aaroche26]

AA

[McChronagle]

cspan will have it on their site later

[Michael Landon]

TUBE!!!!

- ML

[smithtg]

maxine waters up now. Who's dumber her or Bernanke?

[JK/SEA]

maxine waters up now. Who's dumber her or Bernanke?

yes yes...Ms WATERS do you know what planet you're on?...

she's good for a laugh.

aaaand she gets blacked out....irony.

[Demigod]

Is this a class or a congress hearing half the questions were "Can you explain to me what ..... is "

[JK/SEA]

tech problems?.....yeah, we've heard enough. Thanks.

[ClydeCoulter]

These congressmen asking Bernanke "how can we fix this, that, everything" is crazy.

[newbitech]

this Mel Watt guy sounds like he has something lodged in his throat.

[ClydeCoulter]

I do it all the time.

I carry an old silver dollar with me all the time. If the convo turns to this subject I take the dollar out and explain how this dollar could buy a pair of shoes in 1912 (before the Fed), that it is worth about $30 today and can still buy a pair of shoes, AND the same amount could buy a pair of sandals in ancient Rome...

Most people "get it" as they tumble the coin in their hands.

I'll have to try that approach, thanks.

edit: I have tried talking about gold and silver certificates, but that gets the "deer in the headlight" look.

[ClydeCoulter]

this Mel Watt guy sounds like he has something lodged in his throat.

And he was stroking Bernanke, I was just going to look and see if he supports the "Audit the Fed" bill, doesn't sound like it.

edit: I don't see Mel Watt on the co-sponsor list...

[ClydeCoulter]

Oh no, Al Green is stroking Ben now, it's an orgy !

[smithtg]

al greene gawd, creating sound bites for obama!

[smithtg]

does the FED "own" anything? I mean they counterfeit money and buy things. Do they really own it then?

[newbitech]

And he was stroking Bernanke, I was just going to look and see if he supports the "Audit the Fed" bill, doesn't sound like it.

edit: I don't see Mel Watt on the co-sponsor list...

yeah Mel Watt is the rep for the district that BoA has its home office =)

He and the CBC along with Barney Frank gutted audit the Fed and blocked the Paul/Grayson amendment to restore. He is also a rank member on the judicial committee and is a strong backer of SOPA.

The guy isn't just stumbling into anti-liberty positions, he's in the pocket of large corps and is one of the biggest corporate cronies in congress when it comes to finance and laws that benefit largess.

[Unknown.User]

..

[Revolution9]

edit: Have you ever tried to talk to the average non-college-grad person about the devaluation of the dollar? They just don't get it, a dollar is a dollar to them, they see the piece of paper and cannot understand that prices going up means the dollar went down. They see a dollar bill as a dollar.

They seem to understand when I tell them every time they print another dollar they are clipping off the paper in your wallet. The other analogy for central bankers that seems to get understanding is to tell them there are five poker players playing poker. A banker arrives and tells them he will sell them a card for five bucks each and they have to pay a dollar to play the hand..but they may end up with seven or more dollars. So they do so and one guy ends up with 9, another with 5, another with 6 and the last two with 4 each. Only one fellow profited, one broke even and the others lost and after the game was played a total of 6 bucks each average was spent. The problem is the only money in circulation was the original 25 and now the banker wants 30. Where did the other five come from? In a closed system the 25 dollars would now be called 30 but only obtain what the original 25 would have bought. So the banker, who did nothing for the game except add a debt burden where there was none prior, gets a free devalued five bucks. He doesn't care about the devaluation as it was never his money to begin with. He only appears to have had a hand in it's generation.

Rev9

[ClydeCoulter]

They seem to understand when I tell them every time they print another dollar they are clipping off the paper in your wallet. The other analogy for central bankers that seems to get understanding is to tell them there are five poker players playing poker. A banker arrives and tells them he will sell them a card for five bucks each and they have to pay a dollar to play the hand..but they may end up with seven or more dollars. So they do so and one guy ends up with 9, another with 5, another with 6 and the last two with 4 each. Only one fellow profited, one broke even and the others lost and after the game was played a total of 6 bucks each average was spent. The problem is the only money in circulation was the original 25 and now the banker wants 30. Where did the other five come from? In a closed system the 25 dollars would now be called 30 but only obtain what the original 25 would have bought. So the banker, who did nothing for the game except add a debt burden where there was none prior, gets a free devalued five bucks. He doesn't care about the devaluation as it was never his money to begin with. He only appears to have had a hand in it's generation.

Rev9

That is similar to explainations I have tried to use. But, about halfway into the 3rd sentence, they are lost, eyes glazed over, no longer listening, start looking away to find a place to go like they are in a hurry.

[Revolution9]

That is similar to explainations I have tried to use. But, about halfway into the 3rd sentence, they are lost, eyes glazed over, no longer listening, start looking away to find a place to go like they are in a hurry.

I can't count how many have walked away in bewilderment after I start going on. I just write them off as the borg consensus. This, as far as my experience is concerned is a peculiarly american trait. Anywhere else in the world considers such behavior to be absolutely rude.

Rev9

[ClydeCoulter]

I can't count how many have walked away in bewilderment after I start going on. I just write them off as the borg consensus. This, as far as my experience is concerned is a peculiarly american trait. Anywhere else in the world considers such behavior to be absolutely rude.

Rev9

I think I am going to have to invest in a silver coin and try that approach. I really want to get it through to more people. When Ron pulled that coin from his pocket on cspan in front of Bernanke, it really "hit home" like never before, even though I understood the concept already.

But, yes, I agree, some are too far into the system and don't care, just looking forward to the weekend with the drinking buds. (I drink too, don't get me wrong).