Federal Reserve Plank
“Our nation’s monetary policy over the past century is the most despicable hoax ever committed against the American people in our history. If I can help the people of our district understand the utter immorality, the sheer evil, of this system and how it restrains the prosperity of our society, we will and can succeed.” – Jake Towne
“The FED is a parasite on society. It sucks wealth from those who work for it and feeds it to the dogs of war and wasteful federal spending… The FED is a blight on all humanity… The simple goal is to return the money power to the people, where it belongs.” – Jake Towne in a speech November 2009
The Federal Reserve is a quasi-private banking cartel that has a monopoly on the currency and credit of the United States. The FED is often referred to as the “fourth branch of the government.” FED Chairman and oligarch Ben Bernanke ultimately answers to no one in government on monetary policy. Congress has completely reneged on their constitutional duty to the American people to maintain the integrity of our currency, the dollar.
The FED holds the “money power” of our nation, and this power belongs to We the People, not international bankers wearing Brooks Brothers suits. The FED is also responsible for the price inflation we have seen our entire lives. However, make no mistake – it is not really the loaf of bread or gallon of gas that is getting more expensive; it is the plummeting purchasing power of the dollar because the FED has created so many new dollars. It is crucial to recognize that the true responsible villain is really not the FED, but the current crop of so-called representatives in U.S. Congress who have continued to shirk their constitutional duties to protect the integrity of our money.
As your Congressman, I will fight to, as is said, END THE FED! and return the money power to the people, just as Thomas Jefferson and President Andrew Jackson’s “hard money” Democrats successfully did. I will propose a bill to phase out the FED within one year, and transition from “Federal Reserve Notes” to “United States Notes.” In the transition period, Congressional oversight will be implemented on all decisions. Fractional reserve banking practices will be phased out and eventually banned. I will work to gradually transition from the fiat United States Notes to gold and silver currency. Legal tender laws will be removed, the U.S. Mint will offer free coinage of gold and silver coins, and all taxes will be removed on other currencies.
While the FED exists I will:
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Fight for monthly audits so that Congress and the American people know what the FED is up to with our currency.
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Fight to eliminate centralized control of interest rates and the money supply.
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Fight to restore proper congressional oversight on the FED and empower Congress to veto the FED’s actions.
A future without the FED is worth striving for. Imagine an America where the family no longer must send both parents to work while sending the children to daycare. Imagine an America where money saved in the present-day worth the same or even more decades later, enabling individuals to pursue retirements or have more leisure time for personal pursuits.
Join me and imagine a future where government bureaucrats can no longer press the key and create more currency in a single second than you could earn in a lifetime. Without a monopoly over money and credit, the government will once more be forced to serve We the People as our servant, not be our harsh master.
September 2, 2009
I have written fairly extensively on the FED. From my articles, you can find everything you need to know about the FED!
Talk – “END THE FED…. Then What? The Transition to Sound Money” (below right)
Speech at the Federal Reserve Bank of Philadelphia (below left)
Fractional Reserve Banking in Pictures (PART 1/2)
Yes, Virginia, There Are No Reserve Requirements (PART 2/2)
The Money Matrix – How the FED Works (PART 6/15)
The Money Matrix – Who Owns the FED (PART 7/15)
Unlocking the Money Matrix – The Real Interest Rate (PART 12/15)
The “One Ring” of the Federal Reserve
R.I.P. – The London Gold Pool, 1961-1968
MY PROPHECY – The Federal Reserve Will End!
The Federal Reserve – A Good Company to Work For?
Bernanke’s Great Lie – The ‘Gold Standard’ and the Great Depression
In presentation format, you can also download “The Problem with the Dollar“
Jake Towne – The Problem With the Dollar (July 2009)
A handout on this plank for download and printing out is available below.
Trackbacks/Pingbacks
[...] a profit since the dollar’s purchasing power is dropping courtesy the printing presses of the Federal Reserve over the long term. Regardless, the entrepreneur must still attempt to calculate if spending say [...]
[...] unfit currency. (p. 8/50) The heavy metals are present to thwart counterfeiters, but ironically the Federal Reserve itself is the master counterfeiter whenever it expands the supply of dollars to assist Congress with its [...]
[...] of the Federal Reserve for the first time in 96-year history has narrowly avoided total defeat. The Federal Reserve is a quasi-private banking cartel owned by the banks with its Chairman nominated by the President [...]
[...] are tied together at the hip in one giant Ponzi scheme operated by the inept central bankers at the Federal Reserve. Congress recently raised the debt ceiling by $290 billion in order to close out 2009 – but [...]
[...] by government decree and force. The dollar is a phantom I.O.U. note. It is a Ponzi scheme and the central banking system issues new dollar currency whenever it [...]
[...] The Federal Reserve controls the money supply of the United States and can create or destroy currency. It also controls interest rates. To learn more about the FED, read “The ‘One Ring’ of the Federal Reserve” or my campaign’s FED plank. [...]
[...] by Congressman Paul. This article has been modified but was first published here in May. My Federal Reserve plank contains links to some of the articles I’ve written on the [...]
[...] run for Congress full-time because I am gravely concerned for America’s future and believe the integrity of the dollar is a key and pressing issue. Since I discovered how precious and rare liberty really is while [...]
[...] run for Congress full-time because I am gravely concerned for America’s future and believe the integrity of the dollar is a key and pressing issue. Since I discovered how precious and rare liberty really is while [...]
[...] You can also read my plank and watch my speeches on the Federal Reserve. [...]
[...] the true root cause of the depression – the excessive money-printing and credit expansion of the Federal Reserve. There was no mention that government bailouts, stimulus plan spending, and interventions have [...]
[...] the same amount of gold and silver as the Beijing Summer Olympics, world central banks – like the Federal Reserve – have been devaluing their currencies steadily for the past century or so to pay for the [...]
[...] a warning on pensions. As a consequence of the financial meltdown created by the money-printing of the Federal Reserve and Congress, pensions nationwide will be entering into crisis in the coming years. Throughout [...]
[...] To contain the problem, we must first stop all new taxation and all new spending. This means no healthcare tax, no cap and trade energy tax, and no inflation tax by the money-printing of the Federal Reserve. [...]
[...] While Perkins Loans and Pell Grants for the purpose of college education seem like the greatest invention since sliced bread, their overall effect is to put bureaucrats in charge of the decisions in who receives which loans. Ever hear a parent complain about the cost of their kid’s college tuition? By flooding the market with credit, these government programs lead to colleges to both charge more and also become less efficient on fund allocation. [Note: The money-printing of the FED (inflation) is another root cause of rising tuition costs, to learn more read here.] [...]
[...] must be far more wary of the reckless spenders who support the Warfare-Welfare state, the FED and corporatist bailouts than of desperate bands starving in caves on the opposite side of the [...]
[...] the Federal Reserve inflates or deflates the money supply, there is no net benefit to society whatsoever. Obviously, [...]
[...] needs balanced budgets with a sound currency to impose discipline on [...]
[...] would seek to provide a sound currency to halt rampant price inflation, so health care costs take up a smaller percentage of household [...]
[...] the incumbent should be doing INSTEAD is reading over my Sound Money and Jobs and Federal Reserve Planks, and then follow my suggestion to co-sponsor HR 4248 as the dollar is in dire trouble and the [...]
[...] we live in where our servicemen and women must fight wars funded by the excess money-printing of the Federal Reserve and the credit of countries like China while we can relax with our loved ones. I hope with all [...]
[...] the Federal Reserve inflates or deflates the money supply, there is no net benefit to society whatsoever. Obviously, [...]
[...] not just the elite few as the government has shoved in before our faces with the open thievery of the Federal Reserve, the blatant corporatism and bailouts, and a corrupt two-headed, one-party system of Republicans [...]
[...] do my best to answer, further suggested reading is my “Bailouts and Corporatism” and “Federal Reserve” planks. You can help my campaign take on the Republocrats by making a donation of any amount [...]
[...] The Federal Reserve bailed out the bankers and Freddie Mac and Fannie Mae. The above is built from the Federal Reserve H.4.1 data here. The red line is the total (reported) balance sheet of the FED, which has more than doubled since the time of the Banker Bailout. While the original TARP bailout (not shown) accounted for much of the initial sharp increase, most of the debt has been replaced by $1.12 trillion of mortgage-backed securities (the purple line). [...]
[...] The Federal Reserve bailed out the bankers and Freddie Mac and Fannie Mae. The above is built fromthe Federal Reserve H.4.1 data here. The red line is the total (reported) balance sheet of the FED, which has more than doubled since the time of the Banker Bailout. While the original TARP bailout (not shown) accounted for much of the initial sharp increase, most of the debt has been replaced by $1.12trillion of mortgage-backed securities (the purple line). [...]
[...] The Federal Reserve bailed out the bankers and Freddie Mac and Fannie Mae. The above is built from the Federal Reserve H.4.1 data here. The red line is the total (reported) balance sheet of the FED, which has more than doubled since the time of the Banker Bailout. While the original TARP bailout (not shown) accounted for much of the initial sharp increase, most of the debt has been replaced by $1.12 trillion of mortgage-backed securities (the purple line). This graph shows the nationalization and propping of America’s entire residential housing industry. The yellow and green lines show the cumulative totals of USTreasury and USAgency debt held by the FED. While the Federal Reserve has admitted it will take losses on the MBS debt, the question remains as to how much and when. [...]
[...] would seek to provide a sound currency to halt rampant price inflation, so health care costs take up a smaller percentage of household [...]
[...] won’t talk about – the money-printing practices and upcoming quantitative easing of the Federal Reserve. They do not wish to talk about their own perks either. (On the right is a 30 minute interview [...]
[...] The Federal Reserve bailed out the bankers and Freddie Mac and Fannie Mae. The above is built from the Federal Reserve H.4.1 data here. The black line is the total (reported) balance sheet of the FED, which has more than doubled since the time of the Banker Bailout. While the original TARP bailout (not shown) accounted for much of the initial sharp increase, most of the debt has been replaced by $1.12 trillion of mortgage-backed securities (the yellow line). [...]