Ron Paul Introduces Legislation to Abolish the Federal Reserve

**Gawain of Orkeny** · 10-24-2007, 22:53

Ron Paul Introduces Legislation to Abolish the Federal Reserve

Ron Paul Introduces Legislation to Abolish the Federal Reserve

teambio | 17 Jun 2007 | Steve O

Ron Paul Introduces Legislation to Abolish the Federal Reserve

Rep. Ronald Paul has been getting kudos left, right and center for his anti-war stance but lets not forget his overall libertarian stance on most issues.

On Friday, Rep. Paul introduced H.R. 2755 To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. The text of this bill is not yet available on-line but Rep.

Ron Paul 0wnz the Federal Reserve

**CrossLOPER** · 10-24-2007, 22:59

OK. Let me admit that I generally spend my time under a damn rock. Now, having said this, tell me: is this Ron Paul stuff a joke? I mean come on! The guy obviously is just kidding around. Abolish the IRS? Return to the gold standard? Oh! Let's have the common US citizen pay 3.00USD an hour to breath clean air since government regulations have been done away with! Let's raze our wilderness for commercial benefit.

I ask plainly: Is Ron Paul an international in-joke whose source I missed while doing something I personally found constructive?

EDIT: Ron Paul.

**ZombieFriedNuts** · 10-24-2007, 23:20

why

**Ice** · 10-24-2007, 23:26

Originally Posted by ZombieFriedNuts

why

Because the FED is making your dollar less worth, blah blah blah blah.

Yes, the gold standard. No IRS, No Federal Reserve. Brilliant.

Remember guys, this is all unconstitutional. We need to return to the good old days of 1700s.

I don't usually do this but...

At Ron Paul and these awful ideas.

**ZombieFriedNuts** · 10-24-2007, 23:29

Ok I just watched the video I think that he just want more transparency from the dudes who have your money

**Gawain of Orkeny** · 10-24-2007, 23:52

Yes, the gold standard. No IRS, No Federal Reserve. Brilliant.

Remember guys, this is all unconstitutional.

Yes it is and for very good reason. In fact its the main reason we had a revolution. You have all been duped

Lets start with printing money. Its forbidden by the constitution. Only the minting of gold and silver coins can be used to pay debts.

Now the Fed. Only congress has the power to coin money and regulate the value there of. What is a private banking cartel doing running it?

Next income tax. Its unconstitutional to place a direct tax on the people of the US without apportionment .

Now you may think this is all a big joke but I take it very seriously. The Fed is why you have to pay income tax.

**Csargo** · 10-24-2007, 23:56

**Crazed Rabbit** · 10-24-2007, 23:57

I'm all for stopping the government from printing money to pay its debts, but even Dr. Paul has to know this isn't going to work. Grand, giant leaps is not what legislation's about. It's all about incrementalism, slowly stripping the government of power and then one day the dems wake up and find they can't levy income taxes on people. Bwahaha!

CR

**Ice** · 10-25-2007, 00:02

Yes it is and for very good reason. In fact its the main reason we had a revolution. You have all been duped

You are just as bad as the extreme left. It's pretty good laugh.

Lets start with printing money. Its forbidden by the constitution. Only the minting of gold and silver coins can be used to pay debts.

Show me. If it is obviously unconstitutional why hasn't our judiciary system struck it down or atleast had a serious debate about it?

Now the Fed. Only congress has the power to coin money and regulate the value there of. What is a private banking cartel doing running it?

http://en.wikipedia.org/wiki/Federal_Reserve_Act

Congress granted them the power.

Next income tax. Its unconstitutional to place a direct tax on the people of the US without apportionment .

Again, show me.

Now you may think this is all a big joke but I take it very seriously. The Fed is why you have to pay income tax.

I thought roads, a military, police, fire, etc was the reason I had to pay an income tax. Opps.

Yes, I do this as a huge joke.

**woad&fangs** · 10-25-2007, 00:06

Come on Orkeny, we all know that the constitution and the bill of rights is a big fat scam.

1st Amendment: *quietly suppresses his laughter*

2nd Amendment: Intent was to give the US citizens away to fight the government if it becomes corrupt and to give them the ability to form a militia in times of war. Last I checked, I may be a great shot with my deer rifle but it ain't going to stand up to machine guns and tanks. The Gov should therefore get rid of the machine gun ban and offer tanks, Apache helicopters and aircraft carriers for sale.

**Ice** · 10-24-2007, 23:57

Originally Posted by ZombieFriedNuts

Ok I just watched the video I think that he just want more transparency from the dudes who have your money

So have I.

To be honest, I'm to tired right now to get into indepth research to debunk his claims, but most of what he said is pure garbage.

Congress does have the power to create a central bank (which, in reality, is made up of many privately owned regional banks. It isn't one big bank)

The central bank doesn't answer to Congress. It was made that way to be partisan free which was a good idea to separate monetary policy from fiscal policy. It doesn't have to tell Congress a damn thing.

Paul talks about the fiat system causing inflation. Inflation would happen one way or the other, with or without a fiat system.

The idea of the federal reserve is keep the economy in relative check trying to avoid the massive busts that usually occur within a free market economy.

You think the busts are bad now? Imagine no federal reserve and our currency was backed by gold. When ever the price of gold goes up/down the economy fluctuates like crazy. Not really a good idea. There is a reason why no one uses the gold standard anymore and most, if not all countries, have a central bank.