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Tuesday, 10 April 2007

The Federal Reserve Monopoly Over Money

by Congressman Ron Paul

Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better "regulate" things to ease fears of an economic downturn. The tenor of my colleagues' questions suggested that Mr. Bernanke's job is nothing less than to run the U.S. economy, like some kind of Soviet central planner.

"The mass media that is controlled by the Council on Foreign Relations, Skull & Bones, and high freemasonry of the 33rd degree level want you to believe that anyone who says there is a conspiracy for world government and therefore destroy the Constitution is a quack. They use such phrases as: oh, another conspiracy theorists; right wing nuts, etc. The key is: DISCREDIT ANYONE OF ANY CONSEQUENCE WHO COMES AGAINST THE CONSPIRACY! That was testimony in the Alger Hiss trial by a former Communist who left the conspiracy to fight and expose Communism." -Congressman Ron Paul

The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch – Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference – that threatens to impoverish us by further destroying the value of our dollars.

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