Thursday, July 05, 2012

Nature Of Money And Private FED: Ron Paul - Hearing June 28 2012 Fractional Reserve Banking



   With today's start of Worldwide Coordinated QE actions by China cutting rates, BOE 50 billion GBP in QE and ECB cutting rates, it is time for us to see what we are up to with the next move by Federal Reserve.

"Witnesses scheduled to testify:
Dr. John Cochran, Emeritus Professor of Economics and Emeritus Dean, School of Business, Metropolitan State College of Denver Dr. Joseph Salerno, Professor of Economics, Lubin School of Business, Pace University Dr. Lawrence H. White, Professors of Economics, George Mason University

"Fractional reserve banking underpins the entire banking system, yet its effects on society are completely ignored. Our financial system consists of vast amounts of credit pyramided on top of very small amounts of real savings-- all backstopped by explicit and implicit government guarantees. This poses significant risks to the stability of the economy and monetary system, which ought to give pause to any serious observer of financial markets. Hopefully this hearing will create a greater understanding among the American people about the nature of the banking system, and begin the movement towards serious systematic reform. The American people deserve a financial system that is stable and efficient; one that operates without taxpayer subsidies and bailouts." - Congressman Ron Paul"




The History Of Money And Why US Dollars Are Issued By Private Bank - Federal Reserve System

 "We are at the very important point in the history of the modern financial system. The recent events in Europe  are no less than ground-changing historical  development and the magnitude of it will be understood only many years later. European countries are giving up their Sovereignty in order to save the Euro zone. Now the history of money will be your guide to the new order, when the New Normal will be transformed into the New World Order. 
  Private FED manipulates all markets now and has the right at its own discretion to increase the FED rate at any moment, which will increase all interest rates in a chain: mortgage payments, car loans, student loans, credit card loans, business loans etc. Should FED decide to stop monetary expansion at some point: QEn+1 and Twists - yields on the Treasuries will explode. U.S. is at the total mercy of the unelected managers running the private bank. You would think: who can do such a thing, which will bring a total collapse to the world economy - watch the movies to get your own answer. The idea to buy the assets for pennies on the dollar can be irresistible again."

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