Ron Paul Vs The Economist
Posted on July 16th, 2009 by Freddy Gray
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The Economist, remarkably, has taken note of Ron Paul’s “Audit the Fed” legislation. You can listen to the publication’s interview with the Texan congressman about it here:
The interview itself is fair, barring a slightly cruel question about Paul’s embarrassing “cameo” in the “Bruno” movie. In the end, however, The Economist narrator can’t let Paul’s idea go without condemnation. “Ron Paul’s says his bill is just about transparency. Don’t let that fool you, this bill is potentially quite dangerous … it clearly weakens the Fed’s independence …”
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Your money: hundreds of billions, trillions.
Printed, spent, loaned, gifted and lost behind a veil of secrecy.
All done by an unconstitutional group of private bankers disguised as a part of our government.
Please contact your members of congress and the senate in support of HR 1207 (S 604).
Look at the dollar bills in your pocket. They say Federal Reserve Note. How can any sensible”economist” not want an audit of the secretive institution printing our money?
The American people, after watching bank after bank get bailed out, smell a rat.And the stench is coming from the Federal Reserve.
You can not be a comon sense fiscal conservative and not favor auditing the institution printing our money. I have not heard a rational argument why not to audit the Fed. There simply is not one.
The Economist showed their colors here. Ok with the Bruno question, I could get along with it, but the comments at the end were totally gratuitous and showed that this magazine no longer believes in classical liberalism and free markets, but has rather become a variety for the establishment and big governements disguised under a reputation of seriousness that has more to do about the magazine’s past work than anything else. Moreover, they certainly showed that they understand next to nothing about the Federal Reserve, its origins and implications in the various economic bubbles and recessions. The naiveness with which they believe that the Fed is actually independent from politics is saddening.
I had previously respected The Economist. Now it is clear they have an agenda to keep the banking powers-that-be in power, and that is why they say an open an transmit Fed would somehow be dangerous. Looks like The Economist is also a tool of the global banking elite.
So If I understand the interviewer, monetary policy is too important to trust to Congress cause they might cause inflation to win elections. Two problems witht that:
1. The Fed is politically motivated (does the interviewer remember the 1970s or recently the Greenspan “easy” money policies?)
2. More importantly-At least Congress is accountable to the American people. If Congress causes inflation they will be voted out of office…if the Fed does. well Congress can say it isn’t their fault and the American People have NO resourse.
Does it really make any sense to let a private group of folks decide interest rates?
The interview reminds me of the typical NYC arrogant psuedointellectual..I”m sure he has some liberal art degree from some “ivy” league…and thinks the rest of us are total idiots and only the “chosen” ones can really make decisions in our best interest.
I can’t read this mag anymore…its just Keynsian rantings…and support for Herr. Bernanke
The Economist sucks. I was given a gift subscription, and even though I canceled it, they still send me that infernal rag every week.
Now, do I give it away, and risk spreading that Oxford elitist nonsense to impressionable minds; or, throw it out and waste all that paper?
I would argue that they wasted the paper when these idiots elected to print their regime-worshiping screeds all over it.
New rule: Those guys who read their Economist in public, and think it makes them look worldly, powerful, and informed, are to be treated as what they are: the adult equivalent of teenage “gangsta” posers — so desperate and clueless it’s impossible not to laugh.
-Mike Vine
http://www.mikevine.com/
It’s going to interesting to see how many useful idiots are in the employ of the banksters, such as The Economist, and the senators who blocked Jim DeMint with a dubious procedural move.
We’re all debt slaves until we can rid ourselves of the Federal Reserve and their private collection agency, the IRS.
They have been robbing us for many years now. They were given an exclusive license to counterfeit.
Dismantling the Temple
By William Greider
http://www.thenation.com/doc/20090803/greider
I look at our streets,schools,courts and government
and believe there is no way we our going to get our
country back on track with out a Civil War
unless our five star generals stand up and toss the Scum
out of our streets,schools,courts and government.
but this Scum is not going to leave peacefully
THE FEDERAL RESERVE IS A PRIVATE BANK.
IT MUST BE ABOLISHED.
I can’t believe that The Economist is sufficiently naive as to think that secrecy actually protects the Fed from political influence. Not all “influence” is achieved through legislation and the established mechanisms of government. Phone calls between friends and acquaintances, quiet words over coffee… All secrecy does is shield this kind of subtle influence from public view, making it just that much more insidious.
I am surprised that the Economist would publish this interview. It makes the Economist look terrible. I agree with all the comments above. I had not paid attention to Ron Paul before, thinking he was just a nut.
I apologize to all I used to look down upon before. Mr. Ron Paul is truly an amazing man. I have been looking for anyone to speak truth for a long time now and have been numb to the idiocy. But to hear a man who truly understand “ECONOMICS” something I previously thought this magazine did, well, it is like viewing the Emperor without his clothes for the first time.
I am grateful to the Economist for bringing me this interview for two reasons:
1. I got to view Ron Paul’s position for the first time and find a man of intellectual honesty. (I can’t wait to read more of the things he has said).
2. I was able to understand just how Socialist/Fascist/Marxist (Pick your poison) the Economist magazine is. Clearly, the magazine is in favor of the Government taking over the state and controlling all of the wealth in the country. As a Jew, this is terrifying to me. I remember. I wish others did.
I find it amazing that the Economist (or its reporters) does not know the definition of inflation. The comment at the end of this interview shows just how little they know.
Let me give them a little lesson…
Inflation is inflation of the money supply. When the money supply is inflated (made larger, more dollars created) then the value of each individual dollar declines.
When the value of the dollar declines, it takes more dollars to purchase anything. Inflating the money supply hurts the lower class and the middle class the most. This is analogous to a tax. Both take your money… one directly and one by simply destroying the value of your money.
So to say that the Federal Reserve needs to be “independent” so they can protect “inflation” is nonsense. If you want to protect inflation, you must get rid of anyone (including the Fed) who can counterfeit the dollar at will. All the Fed does is create inflation and redistribute wealth.
Moreover, this interviewer doesn’t know any economists who want to return to sound money? Wow. What a shame that the Economist is so willing to hire such ignorant interviewers. There are many many many economists who support such an idea. In fact, a great many have signed on to a letter in support of Ron Paul’s bill.
If you want to find economists who support returning to a gold standard, just learn about the Austrian School of Economics. It is large, has many supporters, and it teaches how money can never be sound when anyone, including the Fed, has the ability to just create more of it out of thin air. If we could create wealth like that, then why doesn’t the Fed just print out a trillion dollars for everyone in the United States? Why futz around with interest rates, and pretend to control inflation? Let’s just really make everyone wealthy?
If you understand why the above cannot work, (because each dollar printed would just weaken the value of all others and though we would have more dollars, they would be worth a whole lot less)
then you understand why the Fed is so diabolical (because every time they print money to give to their friends, they do so by weakening the value of your money – in essence – they steal from you.)
What a shame that children these days (this interviewer is a prime example) have no idea what economics is about. So sad that anyone would still be brought up in the Keynes tradition (as is clear here) when Keynes’ ideas have been debunked long ago. All those ideas are good for is for the Government to have a stronger hold on its citizens.
If you want to learn something read Economics in One Lesson by Hazlitt. It is easy to read. All truth usually is.
“Don’t let that fool you, this bill is potentially quite dangerous … it clearly weakens the Fed’s independence …”
This bill is dangerous only to those who run the Fed and their friends. I guarantee you that if this bill goes through, the Fed will cause some horrific thing in the market.
“The Economist” has no credibility if they are adverse to transparency in our economy.
Wow.
Economist just blew it’s reputation.
At least we now have a better understanding of how deeply penetrated these minions of the fed have become.
Great Job America!
This was an exercise in critical thinking, and we need to keep it up if we hope to expose more of these fraudulent sources of information.
RON PAUL 2012
I have subscribed to the Economist for years, for its quality of writing and breath, and other commendable attributes. I just held my nose when reading (or skipping) the defense of Keynesian economics and clear bias to the established banking industry.
I finally pulled my Economist subscription last month and donated the money to Lewrockwell.com. I can’t support the lies of the establishment any more.
So let me get this straight. The Fed, with all its previous privileges of the past, created one of the most largest world wide economic collapses in history. So the solution you propose to clean up this mess is to continue to allow these idiots MORE power and their previous secretive privileges? All while most of the world ignored those who warned are STILL being ignored even though they have been right about everything unlike your puppet masters?
You people are bought, paid, and corrupt. Not to mention fantastically mentally retarded and potentially a group of traitors. At the very best, you simply don’t care for your readers or country. You may call yourselves “economists”, but you have little understanding how people contribute to advances in human civilization. Imagine the Wright brothers deciding to forget inventing the airplane in 1909 after people like you promoting them to stay on welfare and government handouts.
Your a waste of web space and print.
I can’t believe their are so many idiots out there that believe this crap. I mean seriously a can of Tuna cost 89 cents 8 years ago and now it cost 2 dollars. This is inflation in action people it robs the value of the money supply. Let me tell You a little secret the money You hold in Your hand is just paper it has no worth what soever and the only reason its valuable is because You think its valuable. The FED prints up all the money for the government to operate at interest and thats the truth. Our taxes do not go to the government it goes to the FED to pay off the interest. You people that don’t understand this better wake up because this is the most important thing today plain and simple. The worse part is the FED is a private institution owned by the rich banking interests which make money just by printing it up and selling it to the banks and the government. Our economy was destined to crash because We have a debt based currency that is backed up by nothing. They knew this crash was coming and guess what they excelerated it by giving out those so called free loans. They knew this was going to happen because after all they are a bunch of filthy thieving bankers… You see if You have a debt based currency and people continue to take out loans money keeps flowing through the economy. The minute everyone gets up to their eye balls in debt and starts paying off that debt the money vanishes and the economy crashes. This is the whole reason We need honest money so the rooster suckers can’t inflate it to take advantage of free money because it has to be mined.