Dr. Ron Paul: Cancel $1.6 Trillion Fake "Debt" Owed to Federal Reserve

[Contumacious]

Rep. Paul introduces bill to cancel $1.6T in debt held by Federal Reserve

Rep. Ron Paul on Monday introduced legislation that would lower the federal government's debt by canceling the roughly $1.6 trillion in debt held by the Federal Reserve.

Paul has argued for the last few weeks that the idea represents a quick way to make the growing fiscal crisis more manageable. Under his bill, H.R. 2768, the $1.6 trillion that the Treasury owes to the Federal Reserve would disappear.

http://thehill.com/blogs/floor-actio...eld-by-the-fed

 

[Oddball]

Great idea.

 

[Contumacious]

Great idea.

"In simple terms, Congressman Paul is recommending that the United States dismiss the $1.6 trillion payment owed by the Treasury to the Federal Reserve. The American government (and citizens) incurred this “debt” through a crafty bit of sleight of hand on the part of the Federal Reserve, a cabal of men determined to make our freedom disappear. Paul justifies this seemingly radical response by reminding Americans that the debt owed to the Federal Reserve isn’t real and that it was created by that organization “out of thin air.”


Ron Paul: Cancel $1.6 Trillion Fake "Debt" Owed to Federal Reserve

 

[eflatminor]

But even Dr Paul would agree that if such a bill were to pass, we're still a hell of a long way from being out of the woods. Some think we're doomed to bankruptcy and out of control inflation. Hope is good thing I say. The New Deal/Great Society is over. Policing the planet, done. The unholy collusion of government and big biz (Fascist-like really), no more. That mindset either comes before or after a collapse. I'm fighting for before.

Oh, and End the Fed.

 

[RodISHI]

Great idea.

"In simple terms, Congressman Paul is recommending that the United States dismiss the $1.6 trillion payment owed by the Treasury to the Federal Reserve. The American government (and citizens) incurred this “debt” through a crafty bit of sleight of hand on the part of the Federal Reserve, a cabal of men determined to make our freedom disappear. Paul justifies this seemingly radical response by reminding Americans that the debt owed to the Federal Reserve isn’t real and that it was created by that organization “out of thin air.”


Ron Paul: Cancel $1.6 Trillion Fake "Debt" Owed to Federal Reserve

They could dismiss many of those erroneous guarantees filings banks have made, collect back any irregular filings and sovle much of the bullshit debt created too! I would bet that the Treasury could even have some extra left over.

 

[Sundial]

Ron Paul demonstrates a staggering degree of economic ignorance.

It's a good thing he's the laughingstock of Congress, or he'd be dangerous.

 

[uscitizen]

I thought Dr. Paul was against abortions?

 

[Full-Auto]

Ron Paul demonstrates a staggering degree of economic ignorance.

It's a good thing he's the laughingstock of Congress, or he'd be dangerous.

Did you even read the article?

 

[SwingVoter]

So I imagine the banks who buy and sell treasuries with the Fed everyday would get to have their assets canceled too. Also depositors in those banks? Would Apple still want its $70 billion cash hoard in an asset class than can get "canceled" by Ron Paul?

 

[Sundial]

Ron Paul demonstrates a staggering degree of economic ignorance.

It's a good thing he's the laughingstock of Congress, or he'd be dangerous.

Did you even read the article?

I don't need to read the article to know that Ron Paul is flakey ignoramus. And I don't need to read it to know that anyone who advocates"canceling" 1.6 trillion dollars of the Fed's assets is economically illiterate.

 

[Stashman]

Ron Paul demonstrates a staggering degree of economic ignorance.

It's a good thing he's the laughingstock of Congress, or he'd be dangerous.

Your ignorance is showing. Ron Paul is the closest thing we have to a true patriot anymore.
There is no one I have seen as knowledgeable as he is when it comes to the economy. He is a strict Constitutionalists and he sets his economic ideas based on the Constitution.

 

[Stashman]

Ron Paul demonstrates a staggering degree of economic ignorance.

It's a good thing he's the laughingstock of Congress, or he'd be dangerous.

Did you even read the article?

I don't need to read the article to know that Ron Paul is flakey ignoramus. And I don't need to read it to know that anyone who advocates"canceling" 1.6 trillion dollars of the Fed's assets is economically illiterate.

It's obvious you know NOTHING of the Fed. Because if you truly did and made that statement than that would make you about as unAmerican as it gets. Gain some knowledge from the following video.

[ame=http://www.youtube.com/watch?v=OaHSWjbMvQ0]‪The American Dream? - FULL LENGTH‬‏ - YouTube[/ame]

Here's another:

 

[Sundial]

Stashman, I want to make sure I got this right.

You think I'm unAmerican, I know NOTHING about the Fed, Ron Paul is an economic genius, and you get your information from cartoons and Glen Beck?

 

[Remodeling Maidiac]

Stashman, I want to make sure I got this right.

You think I'm unAmerican, I know NOTHING about the Fed, Ron Paul is an economic genius, and you get your information from cartoons and Glen Beck?

Even if he doesnt I do and here is my evidence to feel this way...

http://www.usmessageboard.com/polit...n-conservatives-another-possible-shooter.html

 

[Sundial]

Stashman, I want to make sure I got this right.

You think I'm unAmerican, I know NOTHING about the Fed, Ron Paul is an economic genius, and you get your information from cartoons and Glen Beck?

Even if he doesnt I do and here is my evidence to feel this way...

http://www.usmessageboard.com/polit...n-conservatives-another-possible-shooter.html

Here's another:

http://www.usmessageboard.com/politics/177699-is-the-government-to-lenient-on-muslims-another-possible-shooter.html

 

[Remodeling Maidiac]

Stashman, I want to make sure I got this right.

You think I'm unAmerican, I know NOTHING about the Fed, Ron Paul is an economic genius, and you get your information from cartoons and Glen Beck?

Even if he doesnt I do and here is my evidence to feel this way...

http://www.usmessageboard.com/polit...n-conservatives-another-possible-shooter.html

Here's another:

http://www.usmessageboard.com/politics/177699-is-the-government-to-lenient-on-muslims-another-possible-shooter.html

That is not my thread and I AM A CONSERVATIVE. nor have I participated in that display of stupid partisanship.

Now, your contention was to paint everyone with the same brush. I kinda broke your profile of how to catagorize a political group, so where do we go now?

 

[Remodeling Maidiac]

I thought the above post might shut you up. Tool

PS. I'm going to bed. Waiting all night for you to think up an intelligent response is a fools errand.

 

[Stashman]

Stashman, I want to make sure I got this right.

You think I'm unAmerican, I know NOTHING about the Fed, Ron Paul is an economic genius, and you get your information from cartoons and Glen Beck?

Your laughable dude. I can post dozens of links on here to you about the Fed. I posted the cartoon because I could tell you were going to need something very easy. I figured while your sitting in your pj's and eating your cereal you could watch it. As far as Glen Beck goes I posted that one because his guest on the show that day, G. Edward Griffin.

Let me know if you need some more info and I"ll be more than happy to present it here for you. So, lets here your thoughts on your wonderful Fed.

 

[editec]

Great idea!

Why not just declare all debts private or public recended, too?

Just think how rich we'll all be!

 

[Contumacious]

But even Dr Paul would agree that if such a bill were to pass, we're still a hell of a long way from being out of the woods. Some think we're doomed to bankruptcy and out of control inflation. Hope is good thing I say. The New Deal/Great Society is over. Policing the planet, done. The unholy collusion of government and big biz (Fascist-like really), no more. That mindset either comes before or after a collapse. I'm fighting for before.

Oh, and End the Fed.

1- the US defaulted on its obligations and declared bankruptcy in 1935;

2- Don't Look Now but the National Debt Could be $23 Trillion by 2021

By Martin Hutchinson, Contributing Editor, Money Morning

But here's the truth: This deal does nothing to reduce America's debt burden. In fact, the $14 trillion we owe now could every easily exceed $23 trillion by 2021.

Don't Look Now but the National Debt Could be $23 Trillion by 2021 - Money Morning

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