ON
CAPITOL HILL
Ron Paul set to hammer Federal Reserve
Chief central-bank critic will take over gavel of House monetary panel
Book " Dismantling America: and other controversial essays "
Thomas Sowell
And this book
THE BOOK " END THE FED " by Ron Paul.
May start
THE BEGINNING OF THE END : THE BATTLE OF AMERICA
Texas CONGRESSMAN RON PAUL vs SEN. JAY ROCKEFELLER (D-WV):
The Book"end the fed "by US Congressman (GOP) Ron Paul ,from Texas may seem to
stir something or irritate or annoy Sen Jay Rockefeller ?as we sees here with
this.
Real Clear Politics
Video
Sen. Rockefeller: FCC Should
Take FOX News, MSNBC Off AirwavesSEN. JAY ROCKEFELLER (D-WV): "There's a little
bug inside of me which wants
to get the FCC to say to FOX and to MSNBC: 'Out. Off. End. Goodbye.' It would
be
a big favor to political discourse; our ability to do our work here in
Congress,
and to the American people, to be able to talk with each other and have some
faith in their government and more importantly, in their future." Posted on
November 17, 2010Sen.
Rockefeller Suggests Eliminating FOX, MSNBC
ON
CAPITOL HILL
Ron Paul set to hammer Federal Reserve
Chief central-bank critic will take over gavel of House monetary panel
Posted: November 19, 2010
12:35 am Eastern
By Jerome R.
Corsi
© 2010 WorldNetDaily
Change is about to come to monetary policy on Capitol Hill, but it might not
be the type of change President Obama or Federal Reserve Chairman Ben Bernanke
have in mind.
Rep. Ron Paul, R-Texas, a strong critic of fiat monetary policies, is
scheduled as the ranking member to become in January the chairman of the House
Financial Services Subcommittee on Domestic Monetary Policy and Technology,
commonly known as the "House monetary subcommittee."
Known for his outspoken criticism of the Federal Reserve and for his
determination to return the U.S. dollar to some form of a gold standard, Paul,
as chair of the House monetary subcommittee, will have a position of authority
from which to hold a serious and robust public debate about decades of
government monetary and fiscal policy.
In an exclusive interview, WND asked Paul what he plans to do once he becomes
chairman of the panel.
"First and foremost, I want the subcommittee to actually begin talking about
monetary policy," Paul said. "The Federal Reserve has insisted that Congress
has
no role in monetary policy. But that's not what the Constitution says."
Article 1, Section 8 of the Constitution assigns to Congress the right to
coin money; the Federal Reserve Act of 1913 created the Federal Reserve. There
is no mention of a U.S. central bank in the Constitution.
In Congress, Paul has been in the lead, sounding the alarm as federal budget
deficits under President Obama have escalated in fiscal year 2010 to $1.3
trillion, while the national debt has mounted to nearly $14 trillion, a sum
that
nearly equals the nation's gross domestic product.
(Story continues below)
"The Fed operates in secret," Paul said. "What the subcommittee needs is to
act like a monetary policy committee. What we need is an honest debate in which
subcommittee can bring to the American public views the Fed may never
consider."
Paul's assumption of the chair of the House monetary subcommittee will bring
an emphasis on issues that have coalesced in the tea party movement – smaller
federal government, balanced federal budgets and the return to a market
economy.
He said he wants to invite prominent economists of the Austrian School to
testify before the subcommittee.
The Austrian School, including prominent European economists Ludwig von Mises
and Nobel laureate Friedrich Hayek, emphasizes the importance of monetary
policy
and the regulation of the money supply to the management of the economy the
creation of business cycles.
"I will invite the Democrats to bring all the Keynesian economists they
want," he said. "The American people need to hear both sides."
Following the work of British economist
John Maynard Keynes, Democratic politicians since the 1930s have emphasized
fiscal policy over monetary policy for the management of the debt, leading to
the reliance of deficit spending even to
the encouragement of a modest amount of inflation to avoid recessions.
Obama administration economists such as Larry Summers, director of the White
House National Economic Council, and supporters such as Nobel prize winning
economist Paul Krugman, have been frustrated that the billions of dollars spent
in bailouts and stimulus spending have failed to create jobs in a quantity
sufficient to move unemployment below the current 9.6 percent level for
October.
A strong critic of the Federal Reserve, Paul told WND he intends to hold
hearings on the current phase of what is known as "Quantitative Easing 2," or
"QE2" for short – the decision made by the Federal Reserve to spend $600
billion
between now and June 2011 to resume buying debt issued by the U.S. Treasury.
In the first round of QE that ended in March, the Fed bought nearly $1.7
trillion in U.S. government debt, the majority of which was Freddie and
Fanny-issued paper, with only about $300 billion of the $1.7 trillion going
into
Treasuries.
Under the Obama administration, Federal Reserve Chairman Ben Bernanke has
doubled the Fed holdings of Treasury debt, going from $400 billion in 2009 to
over $800 billion today.
A long-time advocate of returning to the gold standard, Paul plans to birddog
QE2, a policy he sees as equivalent to the Fed printing fiat money out of thin
air.
"Remarkably, Bernanke has announced the Fed wants to create inflation in
order to create jobs," Paul observed skeptically. "We are debasing our
currency,
and all we will end up proving, once again, is that paper money has never
worked
through monetary history."
As head of the monetary subcommittee, Paul will have a chance to pursue
another long-standing dream, to get a thorough public audit of the
traditionally
secretive Federal Reserve.
"If the Fed does not respond to subcommittee requests for access to internal
memos and other documentation of decision making, we have subpoena power," he
noted. "Still, I plan to start by making requests, then will see what happens."
Paul insisted that reform of U.S. monetary policy is necessary.
"Globalists are already talking about the need for a new Bretton Woods
conference and are ready to unroll an alternative to the dollar in
international
trade through the Special Drawing Rights at the International Monetary Fund,"
he
said. "We need reform of U.S. monetary policy and we need it now."
The IMF initially
created Special Drawing Rights, otherwise known as SDRs, in 1969, to support
the Bretton Woods fixed exchange rate system.
Today, SDRs operate as international reserve assets that are calculated by
the IMF in a basket of major currencies
allocated to the IMF's 185 member nation-states in relation to the capital. The
SDR's are largely in gold or widely accepted foreign currencies that the
members
have on deposit with the IMF.
The G20 summit meeting in London in April 2009 took an important step to
create a new one-world currency through the International Monetary Fund that is
designed to replace the dollar as the world's foreign exchange reserve currency
of choice.
Point 19 of the
final communiqué from the G20 summit attended by President Obama in London
on April 2, 2009, specified, "We have agreed to support a general SDR which
will
inject $250 billion into the world economy and increase global liquidity." It
was the first step toward implement China's proposal that SDRs at the IMF
should
be created as a foreign exchange currency to replace the dollar.
Strong support for the idea of a one-world currency has come from Canadian
economist and Nobel-prize winner Professor Robert Mundell, an influential
proponent who is credited with having formulated the intellectual basis for
creating the euro.
Mundell, currently an adviser to China, was the originator of the suggestion
that the IMF should utilize SDRs to replace the dollar as a new world standard
for holding foreign exchange reserves in international trade transactions.
President Obama's team of dismantling America
Geithner says Europe can survive euro crisis
English.news.cn 2010-11-17 02:07:55
FeedbackPrintRSS
U.S. Treasury Secretary Timothy Geithner gestures as he addresses the 2010
meeting of the Wall Street Journal CEO Council in Washington, November 16,
2010. (Xinhua/Reuters Photo)
Gray eminence Rahm Emanuel failed to stop Obama not to fall
Chicago Mayor Richard M. Daley to retire, speculation swirls around Rahm
Emanuel candidacy
Will Rahm Emanuel run for mayor of Chicago in 2011? AP Photo by Charles Dharapak
Daley won't run for re-election: 'I have done my best'
IN CAMBODIA OCCUPIED BY VIETNAM 1979-2010.
HAPPY ARE THOSE VIETNAMESE APPOINTED AS FAKE "CAMBODIAN"
VIETNAMESE TRICKS IN CAMBODIA THAT DENMARK SEEMS TO IGNORE?
You Ay (Vietnamese woman ) appointed as "Cambodian" Ambassador) back in Bangkok
FAKE "Cambodian" Ambassador to Thailand You Ay(A VIETNAMESE WOMAN" arrives in
Bangkok yesterday to resume her post after her Thai counterpart, Prasas
Prasasvinitchai, returned to his post in Phnom Penh on Tuesday. Thailand and
Cambodia normalised ties after former premier Thaksin Shinawatra resigned as an
adviserto Hun Sen on Monday. (Photo: The Nation)
Strong Resolution on Cambodia Human Rights Abuses
Feb. 27, 1982 : UN Commission on Human Rights meeting in Geneva adopted a
resolution condemning Vietnam’s occupation of Cambodia as a violation of
Cambodian human rights. The vote was 28 in favor, 8 against, and 5 abstentions.
Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by vote
of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese forces
from Cambodia.
10 UN RESOLUTIONS,(1979-1988) VOTED BY 116 UN MEMBER COUNTRIES ,CALL VIETNAM TO
CEASE HER OCCUPATION OF CAMBODIA & REMOVE ALL HER TROOPS FROM THE COUNTRY, ARE
NOT RESPECTED AS OF TODAY.
President Reagan's address to the 43d Session of the United Nations General
Assembly in New York, New York,September 26, 1988.
"Mr. Secretary-General, there are new hopes for Cambodia, a nation whose
freedom and independence we seek just as avidly as we sought the freedom and
independence of Afghanistan. We urge the rapid removal of all Vietnamese troops
...."
As of today,Cambodia is still occupied by the Vietnamese troops despite the
call from the US president to Vietnam to cease her occupation of Cambodia since
1988.
Cambodia needs Independence from Vietnam and the Vietnamese invaders.
Vietnam must cease her occupation of Cambodia at once.
BURY
--
You received this message because you are subscribed to the Google Groups
"Cambodia Discussion (CAMDISC) - www.cambodia.org" group.
This is an unmoderated forum. Please refrain from using foul language.
Thank you for your understanding. Peace among us and in Cambodia.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to
[email protected]
For more options, visit this group at http://groups.google.com/group/camdisc
Learn more - http://www.cambodia.org
