Editor’s note: Ron Paul is an 11-term Republican U.S. representative from Texas who made a bid for the GOP presidential nomination in 2008. His book, “End the Fed,” was recently published by Grand Central Publishing.
Washington, D.C. (CNN) — A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar.
The Fed’s actions, combined with the federal government’s bailout bills and stimulus packages, have struck a nerve in the American people.
Recent polls have shown that more than 75 percent of Americans support efforts to audit the Fed, something which my bill, HR 1207, the Federal Reserve Transparency Act, aims to do. HR 1207 has the support of 304 members of Congress, and the Senate version of the bill, S. 604, is supported by 31 U.S. senators.
Fed Chairman Ben Bernanke has embarked on an ambitious program of monetary expansion, more than doubling the monetary base to almost $1.9 trillion and doubling the size of its balance sheet to over $2 trillion, placing the American economy in a precarious position.
Take a good look at the ‘FROM FUNDRAISER TO STAFFER’ list at the end of the article America!
WASHINGTON — More than 40% of President Obama’s top-level fundraisers have secured posts in his administration, from key executive branch jobs to diplomatic postings in countries such as France, Spain and the Bahamas, a USA TODAY analysis finds.
Twenty of the 47 fundraisers that Obama’s campaign identified as collecting more than $500,000 have been named to government positions, the analysis found.
Overall, about 600 individuals and couples raised money from their friends, family members and business associates to help fund Obama’s presidential campaign. USA TODAY’s analysis found that 54 have been named to government positions, ranging from Cabinet and White House posts to advisory roles, such as serving on the economic recovery board charged with helping guide the country out of recession.
Nearly a year after he was elected on a pledge to change business-as-usual in Washington, Obama also has taken a cue from his predecessors and appointed fundraisers to coveted ambassadorships, drawing protests from groups representing career diplomats. A separate analysis by the American Foreign Service Association, the diplomats’ union, found that more than half of the ambassadors named by Obama so far are political appointees, said Susan Johnson, president of the association. An appointment is considered political if it does not go to a career diplomat in the State Department.
That’s a rate higher than any president in more than four decades, the group’s data show, although that could change as the White House fills more openings.Traditionally about 30% of top diplomatic jobs go to political appointees, and roughly 70% to veteran State Department employees. Ambassadors earn $153,200 to $162,900 annually.
“It is time to end the spoils system and the de facto sale of ambassadorships,” Johnson said. “The United States is best served by having experienced, knowledgeable and trained career officers fill all positions in our diplomatic service.”
President Barack Obama received a great deal of media attention on Wednesday for signing a historic hate-crimes bill into law. But, on the same day, the US president also signed a Homeland Security spending bill that received far less attention, even though it effectively blocks efforts by activists to reveal photos of detainee abuse in US custody.
“We are disappointed that the president has signed a law giving the Defense Department the authority to hide evidence of its own misconduct, and we hope the defense secretary will not take advantage of that authority by suppressing photos related to the abuse of prisoners,” Jameel Jaffer, national security director for the ACLU, said in a statement.
Earlier this month, the House and Senate inserted language into the Homeland Security appropriations bill that would shield photos of detainees in the US’s war on terror from the Freedom of Information Act. The language, which was added at the prodding of Sen. Joe Lieberman (I-CT), effectively blocks an ACLU lawsuit currently before the courts that would have forced the government to release the photos under Freedom of Information statutes.
As Daphne Eviatar noted at the Washington Independent, “President Obama initially agreed to release the photos, but changed his mind after consulting with Defense Secretary Robert Gates and others at the Pentagon, who warned the photos would endanger US servicemen in Iraq and Afghanistan.”
At issue are 21 photos of detainees in US custody that the Department of Defense has been fighting tooth and nail from releasing. As Raw Story reported earlier this year, those photos may show acts of sexual abuse being carried out against detainees.
Major General Antonio Taguba, the author of a report on allegations of detainee abuse in U.S. prisons in Iraq, said that photos exist depicting the following:
–An American soldier apparently raping a female prisoner.
–A male translator apparently raping a male detainee.
–A female prisoner having her clothing forcibly removed to expose her breasts.
Other photographs depict sexual assaults on prisoners with a truncheon, wire and a phosphorescent tube, according to Taguba. Continue reading »
In October 14, Lord Christopher Monckton gave a presentation in St. Paul, MN on the subject of global warming. In this 4-minute excerpt from his speech, he issues a dire warning to all Americans regarding the United Nations Climate Change Treaty that is scheduled to be signed in Copenhagen in December 2009.
There has been considerable debate raised about Monckton’s conclusion that the Copenhagen Treaty would cede US sovereignty. His comments appear to be based upon his interpretation of the The Supremacy Clause in the US Constitution (Article VI, paragraph 2). This clause establishes the Constitution, Federal Statutes, and U.S. TREATIES as the supreme law of the land. Concerns have been raised in the past that a particularly ambitious treaty may supersede the US Constitution. In the 1950s, a constitutional amendment, known as the Bricker Amendment, was proposed in response to such fears, but it failed to pass. You can read more about the Bricker Amendment in a 1953 Time Magazine article:
Lord Monckton served as a policy adviser to Margaret Thatcher. He has repeatedly challenged Al Gore to a debate to which Gore has refused. Monckton sued to stop Gore’s film “An Inconvenient Truth” from being shown in British schools due to its inaccuracies. The judge found in-favor of Monckton, ordering 9 serious errors in the film to be corrected. Lord Monckton travels internationally in an attempt to educate the public about the myth of global warming.
Has Anyone Read the Copenhagen Agreement? U.N. plans for a new ‘world government’ are scary.
We can only hope that world leaders will do nothing more than enjoy a pleasant bicycle ride around the charming streets of Copenhagen come December. For if they actually manage to wring out an agreement based on the current draft text of the Copenhagen climate-change treaty, the world is in for some nasty surprises. Draft text, you say? If you haven’t heard about it, that’s because none of our otherwise talkative political leaders have bothered to tell us what the drafters have already cobbled together for leaders to consider. And neither have the media.
Enter Lord Christopher Monckton. The former adviser to Margaret Thatcher gave an address at Bethel University in St. Paul, Minnesota, earlier this month that made quite a splash. For the first time, the public heard about the 181 pages, dated Sept. 15, that comprise the United Nations Framework Convention on Climate Change—a rough draft of what could be signed come December.
So far there have been more than a million hits on the YouTube post of his address. It deserves millions more because Lord Monckton warns that the aim of the Copenhagen draft treaty is to set up a transnational “government” on a scale the world has never before seen.
The “scheme for the new institutional arrangement under the Convention” that starts on page 18 contains the provision for a “government.” The aim is to give a new as yet unnamed U.N. body the power to directly intervene in the financial, economic, tax and environmental affairs of all the nations that sign the Copenhagen treaty.
(NaturalNews) The US government has issued a new report that recommends blocking access to popular websites during a pandemic outbreak in order to preserve internet bandwidth for investors, day traders and securities clearing house operations. The concern is that a pandemic would cause too many people to stay at home and download YouTube videos and porn, hogging all the internet bandwidth and blocking throughput for investment activities, thereby causing a stock market meltdown.
This isn’t an April Fool’s joke. It’s all based on a public report issued by the Government Accounting Office (GAO), available from their website at http://www.gao.gov/new.items/d108.pdf
In this article, I’m going to explain how a pandemic outbreak could theoretically bring down Wall Street. But to get to that, you’ll first need to find out what the GAO said in its curious report (see below). Parts of this article are presented as satire, but the underlying facts quoted here are all true and verifiable (links are provided to all sources).
This report in question is entitled, “GAO Report to Congressional Requesters, INFLUENZA PANDEMIC” and includes this subtitle: Key Securities Market Participants Are Making Progress, but Agencies Could Do More to Address Potential Internet Congestion and Encourage Readiness.
As the report explains:
In a severe pandemic, governments may close schools, shut down public transportation systems, and ban public gatherings such as concerts or sporting events. In such scenarios, many more people than usual may be at home during the day, and Internet use in residential neighborhoods could increase significantly as a result of people seeking news, entertainment, or social contact from home computers. Concerns have been raised that this additional traffic could lead to congestion on the Internet that would significantly affect businesses in local neighborhoods, such as small doctors’ offices or business employees attempting to telework by connecting to their employers’ enterprise networks.
A 15-year-old girl was gang raped by up to 10 teenagers outside a California high school homecoming dance as others laughed and took photographs.
In a crime that has shocked America up to two dozen passers-by were said to have seen the crime happening and failed to report it as the girl was subjected to an ordeal lasting two-and-a-half hours.
Police Lieutenant Mark Gagan said a “mob mentality” had taken over. He said: “This was a barbaric act. I still cannot get my head around the fact that numerous people either watched, walked away or participated in her assault.
“These suspects are monsters. I don’t understand how this many people capable of such atrocious behaviour could be in one place at one time.
Many of the students feel like the people who committed such an awful crime are still among them in class.” Five suspects, aged from 16 to 21, have been arrested over the attack at Richmond High School, near San Francisco, over the weekend.
The crime was only discovered when a woman at a nearby party telephoned police to say that two of the suspects were bragging about their role in the attack, which was still going on.
Even TARP was limited. This is more than criminal!
‘Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
- Barack Obama
But more than that the US government and the Fed are bankrupting America and destroying the US dollar.
The Obama administration is a lot worse than even the Bush administration.
By Rep. Brad Sherman (D-Calif.)
In my questioning of Treasury Secretary Timothy Geithner before the Financial Services Committee on Wednesday, I focused on the new bailout authority included in the 618-page legislative proposal submitted by the Treasury Department.
In my opinion, Geithner’s proposal is “TARP on steroids.” Section 1204 of the proposal allows the executive branch to use taxpayer money to make loans to, or invest in, the largest financial institutions to avoid a systemic risk to the economy.
Geithner’s proposal reminds me of the Troubled Asset Relief Program (TARP), the $700 billion Wall Street bailout adopted last year, but the TARP was limited to two years, and to a maximum of $700 billion.
Section 1204 is unlimited in dollar amount and is a permanent grant of power to the executive branch. TARP contained some limits on executive compensation and an array of special oversight authorities. Section 1204 contains absolutely no limits on executive compensation and no special oversight.
When I asked Geithner whether he would accept a $1 trillion limit on the new bailout authority (if the executive branch wanted to spend more, it would have to come back to Congress), he rejected a $1 trillion limit, insisting that the executive branch be able to respond without coming back to Congress.
Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.
The decision by the world’s biggest oil exporter could encourage other producers to abandon the benchmark and threatens the dominance of the world’s most heavily traded oil futures contract. It is the main contract traded on Nymex.