Ron Paul’s bill to Audit the Fed, HR1207, went through committee hearing on Friday. You can watch the whole hearing in 5 parts below.
Tag Archive for 'fed'
Ben Bernanke had no idea what was going to happen to the economy. Watch this collection of his statements from the past. This should be one reason to realize that we need to audit the fed. The fed manipulates the economy and we need to know what they do.
For those unfamiliar with those who say what was coming you can watch the following video compiling historical clips showing that Peter Schiff was right.
(HT: Mises.org)
Inflation is a hidden and intentionally deceptive form of taxation. Governments love to be off the gold standard and use fiat currencies that allow them to inflate without controls (especially when all the other governments are also on fiat currencies).
Inflation of the money supply is what the Fed does. When the government needs more money it sells assets to the Fed (usually government securities). The Fed “invents” the money to pay for these. It doesn’t need to print new money because the transaction just increases the amount of money the government has in the bank (and it can use to pay people with).
Because of this new money in the system, all of your money is worth less – increased supply of money raises prices (that’s why housing prices have risen so high after cash was pushed into the housing market through easy loans).
You have now been taxed twice. The government takes a high percentage of your money out of your paycheck. It may give a little back on April 15. It has also taken more of your income by making what you have left worth less. This is a hidden, deceptive tax. The Fed does not protect from inflation, it causes it.
At the Mises Institute you can download or read online America’s Great Depression for free. Many of the other books I mentioned yesterday are available for free at the Mises website.
Today is December 16, which is the anniversary of the Boston Tea Party that originally occurred in 1773. Take a look at Tea Party 07 and then Donate to Ron Paul, the only candidate who will fight the inflation tax that is constantly propagated by the fed.
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