Ron Paul to Chair Monetary Policy Subcommittee

[Paulie]

The only had a GOP full control Congress for two years. The rest of the time Democrats had the Senate....but even when Congress was controlled by the GOP the Dems still had a say. Remember the shared leadership Trent Lott allowed from 2004-06? In the interest of fostering bi-partisanship the GOP saw fit to allow Democrats to convene hearings and help make policies. Many bills were co-authored by Democrats.

The Republicans controlled both chambers of Congress from 2003 through 2006. They told you outright that they were going to devalue the dollar in their 2002 campaign by campaigning on tax cuts and increasing structural deficits. I bought the day after the election. It was one of three investment decisions I have ever made because of politics. It was very profitable.

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into loaning money. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

He said THROUGH 2006.

Meaning that in January of 2007, the GOP control was over when the new congress was seated.

It was 4 years, not 2.

 

[Avatar4321]

Excellent position for him. I hope he does his job extremely well.

 

[uscitizen]

Ron on the feds back and Rand cutting military spending....

 

[Avorysuds]

It will be great to watch Paul Supporters turn on him.

Just like the GOP turned on him in 2008. How could Rand cozy up to people like this after they totally emasculated and generally treated his father like he isn't on their level.

They're doing the same thing to Palin

Sub committee, huh.

The worst thing that happened to the GOP was Ron Paul because the more people that heard him and read up on ended up given millions of people an actual direction, a non lesser of 2 evils option...

 

[KissMy]

Ron Paul will will discuss Bernanke & the Fed on CNBC this morning 11/8/2010 at 8:30AM-ET on Squak-Box.

 

[mudwhistle]

The Republicans controlled both chambers of Congress from 2003 through 2006. They told you outright that they were going to devalue the dollar in their 2002 campaign by campaigning on tax cuts and increasing structural deficits. I bought the day after the election. It was one of three investment decisions I have ever made because of politics. It was very profitable.

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into loaning money. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

He said THROUGH 2006.

Meaning that in January of 2007, the GOP control was over when the new congress was seated.

It was 4 years, not 2.

I said he was saying 3 not 2.

It should have been from 03 to 07...when Congress was seated.

And because the Dems bitched and moaned about losing their power they were able to weasel out a silly "Shared Leadership" agreement with Trent Lott allowing them to convene hearings and use Congress in a manner that was counter-productive from 03-07. Those rules were of course removed when Harry Reid and Nancy Pelosi took control.

California is a prime example of what happens when the GOP tries to share power with Democrats. California is going through tremendous hardship because Democrats in that state are intentionally trying to bankrupt the state treasury. Jobs are leaving the state in droves because of their stupid Green policies.

 

[Toro]

The only had a GOP full control Congress for two years. The rest of the time Democrats had the Senate....but even when Congress was controlled by the GOP the Dems still had a say. Remember the shared leadership Trent Lott allowed from 2004-06? In the interest of fostering bi-partisanship the GOP saw fit to allow Democrats to convene hearings and help make policies. Many bills were co-authored by Democrats.

The Republicans controlled both chambers of Congress from 2003 through 2006. They told you outright that they were going to devalue the dollar in their 2002 campaign by campaigning on tax cuts and increasing structural deficits. I bought the day after the election. It was one of three investment decisions I have ever made because of politics. It was very profitable.

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into lending. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

2003, 2004, 2005, 2006. 4 years.

They didn't have to come right out and say it. Deficit spending, all else being equal, is inflationary. Tax cuts increased the structural deficit. That is standard textbook economics. But it wasn't just that. It was also 1% interest rates. And gold went from $300 to $900. Surprise, surprise.

The same conditions exist today, only more extreme. So another of the three times I invested based on politics was to increase my gold exposure after the Obama stimulus. The mistake Republicans make is to assume that the Democrats and Republicans are much different when running the fiscal affairs of the nation. Republicans are as bad, if not worse at fiscal mismanagement than the Democrats.

 

[loosecannon]

Amen.

 

[uscitizen]

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into loaning money. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

He said THROUGH 2006.

Meaning that in January of 2007, the GOP control was over when the new congress was seated.

It was 4 years, not 2.

I said he was saying 3 not 2.

It should have been from 03 to 07...when Congress was seated.

And because the Dems bitched and moaned about losing their power they were able to weasel out a silly "Shared Leadership" agreement with Trent Lott allowing them to convene hearings and use Congress in a manner that was counter-productive from 03-07. Those rules were of course removed when Harry Reid and Nancy Pelosi took control.

California is a prime example of what happens when the GOP tries to share power with Democrats. California is going through tremendous hardship because Democrats in that state are intentionally trying to bankrupt the state treasury. Jobs are leaving the state in droves because of their stupid Green policies.

Stupid green policies? I guess you were not around for the killing smog problems?
Becuase of topography CA cannot just have it's smog blow over on someone else like most states.

 

[loosecannon]

Ron Paul will will discuss Bernanke & the Fed on CNBC this morning 11/8/2010 at 8:30AM-ET on Squak-Box.

an advance:

Ron Paul is on CNBC this morning and he is saying that the Federal Reserve's policy of quantitative easing will not work, as there is no evidence of it.

Paul is discussing that he believes it is wrong to have inflation. He says that the Federal Reserve believes it has control over inflation, but in actuality it doesn't.

Paul is saying that Chairman Bernanke wants to liquidate the debt, which he is trying his hardest to do.

Paul believes that creating $600 billion with the stroke of a pen is extremely dangerous.

Paul says that the market is much more powerful than central banks.


Read more: Ron Paul Says No Evidence QE2 Will Work | Benzinga.com

 

[uscitizen]

This is kinda reminiscent of Bolton and the UN

 

[Claudette]

Excellent position for him. I hope he does his job extremely well.

I agree.

Should be some very interesting viewing on C-SPANN. Hope it makes prime time.

 

[loosecannon]

This is kinda reminiscent of Bolton and the UN

actually it is, good point.

 

[MaggieMae]

If you read more of the article it states what needed to be done. Let the market correct itself.



The site also has many other articles discussing what should be done, rather than what Bernanke is doing. So to say that they're offering no solutions is incorrect.

My quetion is there an immediate solution? Because looking back, all it took for a run on banks all over the world to begin OVERNIGHT was the collapse of Bear Stearns and followed by Lehman Brothers. There needs to be something in place that will act as a wedge so that doesn't happen.

And that's where the debate would begin over what caused the collapse in the first place. You say there needs to be a wedge in place so that this doesn't happen, and I would say that we need to get rid of the Fed so that this doesn't happen.

Not if there's no protection for the way the system operates at present. The dollar would be worthless, and all our creditors would immediately be clamoring for their bullion as payment. That would mean billions in "paper" deposits would also be worthless. I'm not saying monetary policy doesn't need to be changed; I'm simply looking at the fixes and the practicality of doing it so that we don't need to go back to bartering beads and pelts for food until a "better" system is put in place.

 

[MaggieMae]

Try to imagine the hacks in DC trying to do the job they abrogated 100 years ago when the Fed was created.

That wouldn't be any better. The market needs to set interest rates, not Congress or the Fed.

I don't trust the elected officials to not shit on the floor.

The Constitution

Section 8 - Powers of Congress

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

We have put up with gladhanding shitwitz for so long we are fucked no matter what we do.

Set the value of money it isnt worth anything now, and in a few weeks it will be worth less.

So where in those clauses does it say that the "money" (currency) must be in the form of gold (or silver, or any other precious metal)?

 

[MaggieMae]

The Republicans controlled both chambers of Congress from 2003 through 2006. They told you outright that they were going to devalue the dollar in their 2002 campaign by campaigning on tax cuts and increasing structural deficits. I bought the day after the election. It was one of three investment decisions I have ever made because of politics. It was very profitable.

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into lending. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

2003, 2004, 2005, 2006. 4 years.

They didn't have to come right out and say it. Deficit spending, all else being equal, is inflationary. Tax cuts increased the structural deficit. That is standard textbook economics. But it wasn't just that. It was also 1% interest rates. And gold went from $300 to $900. Surprise, surprise.

The same conditions exist today, only more extreme. So another of the three times I invested based on politics was to increase my gold exposure after the Obama stimulus. The mistake Republicans make is to assume that the Democrats and Republicans are much different when running the fiscal affairs of the nation. Republicans are as bad, if not worse at fiscal mismanagement than the Democrats.

Alan Greenspan once remarked in an interview that of all four presidents he served under, Clinton understood economics better than any other. (I have the source somewhere, but can't put my fingers on it right now.)

 

[MaggieMae]

He said THROUGH 2006.

Meaning that in January of 2007, the GOP control was over when the new congress was seated.

It was 4 years, not 2.

I said he was saying 3 not 2.

It should have been from 03 to 07...when Congress was seated.

And because the Dems bitched and moaned about losing their power they were able to weasel out a silly "Shared Leadership" agreement with Trent Lott allowing them to convene hearings and use Congress in a manner that was counter-productive from 03-07. Those rules were of course removed when Harry Reid and Nancy Pelosi took control.

California is a prime example of what happens when the GOP tries to share power with Democrats. California is going through tremendous hardship because Democrats in that state are intentionally trying to bankrupt the state treasury. Jobs are leaving the state in droves because of their stupid Green policies.

Stupid green policies? I guess you were not around for the killing smog problems?
Becuase of topography CA cannot just have it's smog blow over on someone else like most states.

Green technology and all of its affiliated ventures is the ONLY thing the U.S. will actually be producing and profiting from in future years.

 

[MaggieMae]

Excellent position for him. I hope he does his job extremely well.

I agree.

Should be some very interesting viewing on C-SPANN. Hope it makes prime time.

It probably will air on C-Span3, which requires an upgrade for me. So I hope the news outlets at least capture pertinent parts. I'm sure they will.

 

[Kevin_Kennedy]

My quetion is there an immediate solution? Because looking back, all it took for a run on banks all over the world to begin OVERNIGHT was the collapse of Bear Stearns and followed by Lehman Brothers. There needs to be something in place that will act as a wedge so that doesn't happen.

And that's where the debate would begin over what caused the collapse in the first place. You say there needs to be a wedge in place so that this doesn't happen, and I would say that we need to get rid of the Fed so that this doesn't happen.

Not if there's no protection for the way the system operates at present. The dollar would be worthless, and all our creditors would immediately be clamoring for their bullion as payment. That would mean billions in "paper" deposits would also be worthless. I'm not saying monetary policy doesn't need to be changed; I'm simply looking at the fixes and the practicality of doing it so that we don't need to go back to bartering beads and pelts for food until a "better" system is put in place.

The dollar would actually gain in value under the gold standard. The dollar is nearly worthless now thanks to the Fed.

 

[Kevin_Kennedy]

Since when does a Congressional term last 3 years?

They never said anything about devaluing the dollar. Tax-cuts don't automatically mean inflation. In the last year Obama has decided to print $1.2 trillion dollars and give it to banks to induce them into lending. It's never gonna work because the risk is too great right now. All that's gonna happen is grocery bills are gonna go up and the Fat-cats are gonna shore up their portfolios.

2003, 2004, 2005, 2006. 4 years.

They didn't have to come right out and say it. Deficit spending, all else being equal, is inflationary. Tax cuts increased the structural deficit. That is standard textbook economics. But it wasn't just that. It was also 1% interest rates. And gold went from $300 to $900. Surprise, surprise.

The same conditions exist today, only more extreme. So another of the three times I invested based on politics was to increase my gold exposure after the Obama stimulus. The mistake Republicans make is to assume that the Democrats and Republicans are much different when running the fiscal affairs of the nation. Republicans are as bad, if not worse at fiscal mismanagement than the Democrats.

Alan Greenspan once remarked in an interview that of all four presidents he served under, Clinton understood economics better than any other. (I have the source somewhere, but can't put my fingers on it right now.)

Not exactly high praise considering Greenspan is chiefly responsible for our current mess.