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Monday, December 14, 2009

The Fed’s money monopoly: Ron Paul

Here's the latest column from Congressman Ron Paul:

Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s false sense of security in the financial system.  This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry under the misguided reasoning that more government could have stopped faulty lending practices, when in actuality it caused them. This bill would also greatly increase the powers of the Federal Reserve, which too many in Congress still see as savior rather than perpetrator in this mess….

Click here to read the full article.

Posted by Matthew Johnston

Posted by westernstandard on December 14, 2009 | Permalink


Paul is right on this one. Free banking is the ticket. Unfortunately, we're probably never going to see that happen.

Posted by: Charles | 2009-12-14 12:08:08 PM

He's right. The Obama administration has managed to secure a false sense of stability through bank bailouts but they're not doing anything to improve the fundamentals of the economy and are in fact working against the economy through socialist programs like cap-and-tax, government 'health care', corporate takeovers, etc, etc. It's worrisome considering it would suck if our biggest market implodes.

Would it make sense for Canadians to convert debt into US dollars since the greenback isn't going to be worth very much in the future?

Posted by: Philanthropist | 2009-12-14 11:16:04 PM

Stop playing with our money
it's time to confront the fundamental problems of our whalfy economy, without spending money on lost cases

Posted by: The CEO Game | 2009-12-15 9:41:02 AM

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