Ron Paul makes extreme claim about the Fed...turns out to be true.

spike

spike

New Member
Ron Paul: ...a lot of cash was passed through - and a lot of people suppose it was passed through the Federal Reserve - when there was a provisional government [in Iraq] after the 2003 invasion. That money was not appropriated by the Congress as required by law...

Ben Bernanke: Congressman, these specific allegations you've made are absolutely bizarre, and I have no knowledge of anything remotely like what you just described.

Let's ask Henry Waxman (July 2009)

Henry Waxman: In a 13 month period from May 2003 to June 2004, the Federal Reserve sent nearly $12 billion in cash, mainly in $100 bills from the United States to Iraq. To do that, the Federal Reserve Bank in New York had to pack 281 million individual bills ... onto wooden pallets to be shipped to Iraq. The cash weighed more than 363 tons and was loaded onto C-130 cargo planes to be flown into Baghdad...
Click to expand...

http://dailypaul.com/node/127060
 
MrBishop

MrBishop

Well-Known Member
I wonder how many pallets ended up in Blackwater's coffers, and how much they had to kick back to Cheney
 
catocom

catocom

Well-Known Member
I got another packet today for Ron Paul about the "audit the fed" move.
I don't know if anything will come of it, but I support it.:headbang:
 
MrBishop

MrBishop

Well-Known Member
Gotholic said:
How is it a "reserve" if it creates money? Also, why do we need it?
Click to expand...

Article 1:8 of your constitution. The Congress controls the money, regulates it's value, interest, inflation etc..all that good stuff. The problem is that Congress isn't filled with accountants and economists..and they know it. We're talking about a LOT of money here. Would you really want your Congressman/woman fixing interest rates and regulating the value of your greenback against foreign currency?

So, instead of turning Congress into a bank... the Federal Reserve was created.

The Fed (Central bank) does a LOT of things that need to get done in order to provide stability to your economy. I suppose that I can give you a bullet list, but you'd probably give me a video for every one..and frankly, I don't have several days free.
 
V

valkyrie

Well-Known Member
house_cricket.jpg

Got quiet 'round here.
 
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