Ron Paul: Greece is just the beginning!

[Pharaoh]

Run time: 05:18 https://www.youtube.com/watch?v=lAeO6jLUc4Q   Posted on YouTube: May 06, 2010 By YouTube Member: RonPaul2008dotcom Views on YouTube: 12296   Posted on DU: May 09, 2010 By DU Member: Pharaoh Views on DU: 960

 

[msongs]

1. US not to worry - we have unlimited funds for war and killing, no probs nt

[CreatureFeature]

2. What percentage of the American people realize that

the Federal Reserve has NEVER been audited?

[Pharaoh]

3. What part realizes the Federal Reserve is a private Corporation?

:freak:

[CreatureFeature]

4. As soon as anyone even begins this discussion

most people begin their conditioned responses and start throwing around tin-foil hat comments.

[PDJane]

5. Does anyone realize that if the Fed is audited,

The whole house of cards comes tumbling down, and a 20 to 40 year depression is likely?

The fed has never been audited because it is part of the secret government. And yes, there is a secret government. No, it's not a conspiracy theory. That secret government got its start with the legal fiction of corporate personhood; the federal reserve and it's placement in private hands made sure of it.

Right now, the very best thing that could happen is an increase in the taxation rate of those in the upper 10%, and that taxation rate to be levied on properties as well as earnings.

When the econonic system becomes top-heavy, that is what destroys the economy, not taxation. That is where I have the biggest argument with Ron Paul. He would take away all social programs, and they aren't the problem. The problem is the washington concensus, or Friedmanite economics. Greed is all that matters under that system, and that leaves too many people poor and desperate. Then, of course, you start to spend money on the prison system, because you have to spend it either at one end...education, child care, social services, training programmes, and jobs...or on prisons, police forces, the military.

[Pharaoh]

6. Touche Jane!

:toast:

[Warpy]

7. Well, the Fed desperately needs an audit

albeit a quiet one. It also desperately needs to be nationalized. It's a little insane to have one's central bank in private hands. It needs public oversight, at the very least. Right now, it's at the end of many decades of no oversight, something it has enjoyed immensely.

I'm afraid the whole thing is becoming unglued with or without an audit of the Fed, so we might as well audit it anyway.

All the funny money that has been generated since the 1970s through derivatives on derivatives is evaporating quickly. It's just not going to be there any more and we're going to see a period of heart stoppingly rapid deflation.

[Capitalocracy]

8. The hell with that, pick up that rock and let's see what's crawling underneath!

We need and have a right to transparency.

And that money isn't just evaporating, it's going into someone's pocket. We need to know who.

[Warpy]

9. The money is evaporating because most of it was never really there

Derivatives have as much reality as a casino bet. In a mathematically determined game, with the odds with the house, the house will always come out ahead at the end of the year. However, that bet in and of itself has no intrinsic value to anyone.

Derivatives were bets placed on bets placed on bets, each concerned with decreasing overall risk for the house. They functioned fairly well for four decades in doing just that and the house (banks, brokerages and hedge funds) all got quite fat on them, with numbers going up year after year, even though those numbers represented enormous debt running all through the game.

However, those bets, placed years ago with real money, are being seen now as losing hands. The real money is long gone, spent by the house on new carpeting and free buffets for the suckers who were enticed to go into debt to get into the game. Since then, they've played a game of bidding up those bets with money they created out of thin air through leveraging debt, themselves.

The suckers have nothing to show for it but debt the house was counting on to keep the game going. The house has nothing but a bunch of worthless cards and the debt it leveraged in order to bluff the game. Basically, the money is gone, the Emperor is naked as a jaybird, and nobody can hide the fact any more.

[sam sarrha]

10. link>>> where all the money goes

http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
The Wealth Distribution
In the United States, wealth is highly concentrated in a relatively few hands. As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.7%. Table 1 and Figure 1 present further details drawn from the careful work of economist Edward N. Wolff at New York University (2010).

[maynard32]

11. It's interesting to note that the majority of politicians were calling Paul deluded

for even bringing up this "conspiracy theory" of auditing the fed before the Collapse. And, now he had the support of the majority in the House. Too bad Obama, Rahm Emanuel and Geithner killed his bill. Instead, what we got was a bill so watered down that the Feb and Banking lobby are laughing at us. Cenk did an excellent analysis on this subject.