Last week at its regular policy-setting meeting, the Federal Reserve announced it would double down on the policies that have failed to produce anything but a stagnant economy. It was a disappointing, but not surprising, move.
The Fed affirmed that it is prepared to increase its monthly purchases of Treasuries and mortgage-backed securities if things don’t start looking up. But actually the Fed has already been buying more than the announced $85 billion per month. Between February and March, the Fed’s securities holdings increased $95 billion. From March to April, they increased $100 billion. In all, the Fed has pumped more than a half trillion dollars into the economy since announcing its latest round of “quantitative easing” (QE3) in September 2012.
Former Rep. Ron Paul said the law enforcement that swarmed around Boston in the days following the marathon bombings was scarier than the actual terrorist attack.
“The Boston bombing provided the opportunity for the government to turn what should have been a police investigation into a military-style occupation of an American city,” he said on the Lew Rockwell website, Politico reported. “This unprecedented move should frighten us as much or more than the attack itself.”
The terror attacks on April 15 in Boston killed three and injured 264.
Mr. Paul, a former libertarian political candidate who served in Congress as a member of the Republican Party, said the door-to-door searches police conducted in Watertown for the bombing suspects were particularly alarming.
They reminded of a “military coup in a far off banana republic,” he said, Politico reported. “Force lockdown of a city. Militarized police riding tanks in the streets. Door-to-door armed searches without warrant. Families thrown out of their homes at gunpoint to be searched without probable cause. Businesses forced to close. Transport shut down.”
First I believed in Rand Paul when he ran for the Senate in Kentucky. I supported his run and win.
Then during the 2012 Presidential election when he committed Treason and was a traitor against his father by endorsing Romney, I never listened to another word he said until his epic filibuster..
He redeemed himself in my eyes when he accomplished the epic 13 hour filibuster which I actually watched more than half of. I was thrilled he was standing up for all of us and the country. I became a Rand Paul supporter once more.
NOW…. he has committed treason against the U.S. people and he has nullified his epic filibuster by going directly against it.
Rand Paul says at 2:30 point of the video below “If someone is coming out of a liquor store with a gun and $50 dollars I don’t care if a drone kills him or a policeman kills him.”
You – Rand Paul….. Don’t Care if a drone is JUDGE JURY AND EXECUTIONER of someone ROBBING a store? So someone should be KILLED for robbing a Store?
How Dare you….. believe drones should KILL people during a crime instead of letting a jury of their peers convict them!!!! Also, who is to say the real robber didn’t toss the person out with the gun, no one knows what the real situation is, until evidence is completely provided in a COURT ROOM!
You are not a TRUE Constitutionalist and you are a traitor, Rand Paul!!
I hope the people of Kentucky Vote You OUT! I will NEVER support you, We can not TRUST you! You are a true politician. Not trustworthy, a player of the game and I have NO respect for you!
“You will not see economic growth until you liquidate the debt and liquidate the malinvestment out there,” is the hard truth that former Congressman Ron Paul lays on Bloomberg TV in this wide-ranging interview. Paul is concerned at “the erraticness of the dollar… and its devaluation,” explaining that, “people think the gold price up and down is a reflection of something wrong with gold; no, I say it is something wrong with the dollar.” The topic gravitates to inflation, which Paul explains is far from missing as, “Bond prices go up. Stocks are going up. Housing prices are starting to go back up again. Education costs are going up,” adding that, “CPI is not reliable.” Paul is buying gold, believes “we are in as much trouble as Greece,” and while fascinated by the free market nature of Bitcoin, he notes that while he doesn’t fully understand it, “if I can’t put it in my pocket, I have some reservations about that.”
Don’t mess with Texas. RT travels to the Republic of Texas and meets Texans who are proud of their heritage, embrace self-reliance and are ready to live by what they preach, even if it strays from the norms of mainstream American society.
Have you ever wondered how the big banks make such enormous mountains of money? Well, the truth is that much of it is made by gambling recklessly. If they win on their bets, they become fabulously wealthy. If they lose on their bets, they know that the government will come in and arrange for the banks to be bailed out because they are “too big to fail”. Either they will be bailed out by the government using our tax dollars, or as we just witnessed in Cyprus, they will be allowed to “recapitalize” themselves by stealing money directly from our bank accounts. So if they win, they win big. If they lose, someone else will come in and clean up the mess. This creates a tremendous incentive for the bankers to “go for it”, because there is simply not enough pain in this equation for those that are taking the risks. If the big Wall Street banks had been allowed to collapse back in 2008, that would have caused a massive change of behavior on Wall Street. But instead, the big banks are still recklessly gambling with our money as if the last financial crisis never even happened. In the end, the reckless behavior of these big banks is going to cause the entire global financial system to collapse.
Have you noticed how most news reports about Cyprus don’t even get into the reasons why the big banks in Cyprus collapsed?
Well, the truth is that they collapsed because they were making incredibly reckless bets with the money that had been entrusted to them. In a recent article, Ron Paul explained how the situation played out once the bets started to go bad… Continue reading »
The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer’s Greek debt restructuring resulted in losses equivalent to more than 25 percent of Cyprus’ GDP. These banks then took their bad investments to the government, demanding a bailout from an already beleaguered Cypriot treasury. The government of Cyprus then turned to the European Union (EU) for a bailout.
This is one of the most interesting stories I have read regarding the precious metals market in quite some time. It appears that Texas Rep. Giovanni Capriglione has a bill in play that would move the state’s gold from New York (where its under the “safekeeping” of the ultra shady Federal Reserve) to a depository within the state of Texas itself. The reason this would be such a big deal if it happens, is because a lot of the gold bought and sold globally is very likely not actually owned by those that “buy” it. From my perspective, pretty much the only countries that actually buy gold and bring it within their borders are China, Russia and Iran. Most other nations that claim they “bought” gold, most likely hold a certificate that states they have gold in London or New York. So in other words, they have no gold. It looks like Texas is wising up. From the Star-Telegram:
Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.
“If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible,” Paul told The Texas Tribune on Thursday.” Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve.”
You’ve gotta love Ron Paul. The guy is still raising hell even after he left Congress.
Earlier today, Ron Paul filed an international UDRP complaint against RonPaul.com and RonPaul.org with WIPO, a global governing body that is an agency of the United Nations. The complaint calls on the agency to expropriate the two domain names from his supporters without compensation and hand them over to Ron Paul.
On May 1st, 2008 we launched a grassroots website at RonPaul.com that became one of the most popular resources dedicated exclusively to Ron Paul and his ideas. Like thousands of fellow Ron Paul supporters, we put our lives on hold and invested 5 years of hard work into Ron Paul, RonPaul.com and Ron Paul 2012. Looking back, we are very happy with what we were able to achieve with unlimited enthusiasm and limited financial resources.
Ron Paul has filed a complaint with the World Intellectual Property Organization against the proprietors of RonPaul.com and RonPaul.org, according to a blog post on their site on Friday.
The authors of RonPaul.com see the move as the ultimate betrayal from a politician who, more than many others, depended on an astounding level of grassroots support on the Internet in order to keep his longshot presidential campaigns running.
“Last month, after Ron Paul expressed regret on the Alex Jones show over not owning RonPaul.com (in an interview titled “Ron Paul: The Internet Is Our Last Chance to Awaken America”), dozens of supporters urged us to contact Ron Paul to work out a deal,” the owners of RonPaul.com write.
They say they offered Paul the use of RonPaul.org as a “free gift” but wanted to keep RonPaul.com. Their price, should Paul really want RonPaul.com, was $250,000.
“Claims that we tried to sell Ron Paul “his name” for $250k or even $800k are completely untrue, and there is little doubt that our mailing list would have enabled Ron Paul to raise several million dollars for the liberty movement this year. It would have been a win/win/win situation for everyone involved,” they write.
Even more shocking to the proprietors is that Paul’s complaint was lodged with a U.N. agency, an organization that garners mistrust among libertarians. Continue reading »
The past and present bailouts of each and every bank (and ‘important’ industry) will, one day, be seen as a generational offense is how MEP Daniel Hannan begins this thoroughly British demolition of the three critical myths surrounding the crisis, that despite market optics, we are still living through. From the idea that capitalism has failed (it has not in his view, it has been ravaged by political pandering), to the crisis being caused by lack of regulation, and that greed is the single-driver of the mess that we remain in; Hannan suggests in a brief but extremely eloquent debate that there is a world of difference between being pro business and pro market as he destroys any semblance of credibility that the political (and elite) class has echoing a young Ron Paul in his thoroughly libertarian free-market sensibilities.
Nassim Taleb sits down for a quite extensive interview based around his new book Anti-Fragile. Whether the Black Swan best-seller is philosopher or trader is up to you but the discussion is worth the time as Taleb wonders rigorously from the basic tenets of capitalism – “being more about disincentives that incentives” as failure (he believes) is critical to its success (and is clearly not allowed in our current environment) – to his intellectual influences (and total disdain for the likes of Krugman, Stiglitz, and Friedman – who all espouse grandiose and verbose work with no accountability whatsoever). His fears of large centralized states (such as the US is becoming and Europe is become) being prone to fail along with his libertarianism make for good viewing. However, his fundamental premise that TBTF banks should be nationalized and the critical importance of ‘skin in the game’ for a functioning financial system are all so crucial for the current ‘do no harm’ regime in which we live. Grab a beer (or glass of wine, it is Taleb) and watch…
Via Redmond Weissenberger of the Ludwig von Mises Institute Of Canada,
A must see interview with Nassim Taleb
Nassim Nicholas Taleb is a former trader and hedge fund manager, a best-selling author, and a ground-breaking theorist on risk and resilience.
Taleb drew wide attention after the 2007 publication of The Black Swan: The Impact of the Highly Improbable, which warned that our institutions and risk models aren’t designed to account for rare and catastrophic events. Among other things, the book cautioned that oversized and unaccountable banks using flawed investment models could bring on a financial crisis. He also warned that the government-sanctioned housing finance agencies, Fannie Mae and Freddie Mac, were sitting on a “barrel of dynamite.”
One year after The Black Swan was published, a global banking crisis was brought on by the very factors he identified. Continue reading »
Retired Congressman Ron Paul has condemned the US use of drones and the country’s ‘king of the world’ style foreign policy.
Paul, who served 36 years as a US congressman and is a three-time presidential candidate, said in a Friday interview that minding its own business instead of getting involved militarily in the internal affairs of other states could have saved the US from bankruptcy.
“What if we didn’t hate Muslims? We have to bring up a lot of hatred for us to go 6,000 miles away and kill people with drones. This is where the conflict is coming,” said Paul.
“We have to beat the drums of war in this hatred that we go over and do these things and then all of a sudden we have an epidemic of suicides of American soldiers that come back [asking], ‘What am I doing over here shooting drone missiles and little kids dying?’”
The former congressman said that the US fails to understand that there is “blowback” from its involvement overseas, and that the situation is going to get much worse, if the country does not accept to recognize the situation.
Do you believe that economic trouble is coming in 2013? If so, you have a lot of company. According to a brand new Gallup poll that was just released, 65 percent of Americans believe that 2013 will be a year of “economic difficulty” while only 33 percent of Americans believe that 2013 will be a year of “economic prosperity”. Gallup has been asking this question for a lot of years, and the percentage of Americans that are anticipating economic difficulty in the year ahead has not been this high since the early 1980s. And without a doubt, there are a whole lot of reasons to be deeply concerned about the economy as we head into the new year. But it isn’t just 2013 that Americans are pessimistic about. According to the new Gallup poll, 50 percent of all Americans believe that the best days of America are behind us, and only 47 percent of all Americans believe that the best days of America are ahead of us. Those are very sobering numbers. Half the country believes that it is only downhill from here for the United States. Unfortunately, they are exactly right. Things are rapidly going to get worse for our economy and for our nation as a whole. We are going to start reaping the consequences of decades of very foolish decisions, and the pain is going to be immense.
Gallup asked some other very interesting questions as well. The following are some of the other results from the poll…
-68 percent of Americans believe that 2013 will be a year of rising crime rates.
-57 percent of Americans believe that 2013 will be a year in which American power will decline in the world.
-82 percent of Americans believe that 2013 will be a year in which taxes in the United States will rise.
As I prepare to retire from Congress I’d like to suggest a few New Year’s resolutions for my colleagues to consider. For the sake of liberty, peace and prosperity I certainly hope more members of Congress consider the strict libertarian-constitutional approach to government in 2013.
In just a few days, Congress will solemnly swear to support and defend the Constitution of the United States against all enemies, foreign and domestic. They should read Article 1 Section 8 and the Bill of Rights before taking such a serious oath. Most legislation violates key provisions of the Constitution in very basic ways, and if members can’t bring themselves to say “no” in the face of pressure from the special interests, they have broken trust with their constituents and violated their oath. Congress does not exist to serve the special interests. It exists to protect the rule of law.
I also urge my colleagues to end unconstitutional wars overseas. Stop the drone strikes. Stop the covert activities and the meddling in the internal affairs of other nations. Strive to observe good faith and justice towards all nations, as George Washington admonished. We are only making more enemies, wasting lives and bankrupting ourselves with the neoconservative interventionist mindset that endorses preemptive war that now dominates both parties.
All foreign aid should end, which is blatantly unconstitutional. While it may be a relatively small part of our federal budget, for many countries it is a large part of theirs and it creates perverse incentives for both our friends and enemies. There is no way members of Congress can know or understand the political, economic, legal and social realities in the many nations to which they send taxpayers’ dollars.
Congress needs to stop accumulating more debt. U.S. debt monetized by the Federal Reserve is the true threat to our national security. Revisiting the parameters of Article 1 Section 8 would be a good start.
Congress should resolve to respect personal liberty and free markets. Learn more about the free market and how it regulates commerce and produces greater prosperity ever than any legislation or regulation.
Understand that economic freedom is freedom. Resolve not to get in the way of voluntary contracts between consenting adults. Stop bailing out failed yet politically connected companies and industries. Stop forcing people to engage in commerce when they don’t want to, and stop prohibiting them from buying and selling when they want to. Stop trying to legislate your ideas of fairness. Protect property rights. Protect the individual. That is enough.
There are many more resolutions I would like to see my colleagues in Congress adopt, but respect for the Constitution and the oath of office should be at the core of every single member’s of Congress due in 2013.
In a little under three minutes, Ron Paul explains to a somewhat nonplussed CNBC anchor just how ridiculous the charade that is occurring in D.C. actually is. This succinct spin-free clip should be required viewing for each and every asset-manager, talking-head, propagandist, and mom-and-pop who are viewing the last-minute idiocy of the ‘fiscal cliff’ debacle with some hope that things will be different this time. “We have passed the point of no return where we can actually get our house back in order,” Paul begins, adding that “they pretend they are fighting up there, but they really aren’t. They are arguing over power, spin, who looks good, who looks bad; all trying to preserve the system where they can spend what they want, take care of their friends and print money when they need it.” With social safety nets available to rich and poor, there is no impetus for change and “the country loses,” but Paul concludes, the markets are starting to say “there is a limit to this.”
Forward to 5:45 for the Ron Paul interview (ignore everything else)
As 2012 draws to a close, it’s hard not to be reminded that 2013 will begin with Ron Paul retired from Congress. For all those years he was a fearless truth-teller, who exposed and denounced the horrors, domestic or foreign, of the regime. His farewell address – something practically unheard of for a congressman in the first place – will continue to be read years from now, as future Americans look back with astonishment that such a man actually served in the US Congress.For most of his career, those speeches were delivered to a largely empty chamber and to audiences of modest size around the country. A man of Ron’s intelligence could have grown in stature and influence in no time at all had he been willing to play the game. He wasn’t. And he was perfectly at peace with the result: although he wasn’t a major political celebrity, he had done his moral duty.
Little did he know that those thankless years of pointing out the State’s lies and refusing to be absorbed into the Blob would in fact make him a hero one day. To see Ron speaking to many thousands of cheering kids, when all the while respectable opinion had been warning them to stay far away from this dangerous man, is more gratifying and encouraging than I can say. I was especially thrilled when a tempestuous Ron, responding to the Establishment’s description of his campaign as “dangerous,” said, you’re darn right – I am dangerous, to them. Continue reading »
By 6:00 a.m. EST Wednesday, more than 675,000 digital signatures appeared on 69 separate secession petitions covering all 50 states, according to a Daily Caller analysis of requests lodged with the White House’s “We the People” online petition system.
Fourteen states are represented by at least two competing petitions. The extra efforts from two states — Missouri and South Carolina — would add enough petitions to warrant reviews by the Obama administration if they were combined into petitions launched earlier.
The reaction to my recent article on why Texas is uniquely positioned to secede from the union and run itself as an independent nation state reveals that very few people on the internet have any real knowledge of history. (Gee, is anyone surprised that people on Facebook have no clue what they’re talking about?)
For the purpose of educating those who simply don’t know these facts, I’m publishing selections from the Texas state constitution that make it perfectly clear: Texas voluntarily joined the union but did not surrender power to the union. It reserves the eternal right to run its own affairs.
From the Texas Constitution, article 1, section 1:
“Texas is a free and independent State, subject only to the Constitution of the United States…”
With just 5 days needed for the Texas secession petition to surpass 100,000 signatories, all is not well with the Union…
… actually, not only are things not well with the Union, things are getting worse by the minute, as American society splinters into diametrical opposites to a degree not seen in decades, a process which in itself virtually assures there will be no cliff compromise before the opportunity cost of ending the stand off becomes far too great. And with the option of the Mr. Chairman “getting to work” to fix things, one wonders – is even the market a motivating enough factor given a 20, 30 or even 50% drop in the rearview mirror: after all as the Fed has demonstrated, there is no need for a fiscal compromise to get the S&P to just shy of all time highs. Certainly, even America’s politicians are very much aware of this by now (of course, this assumes that Bernanke is still in charge of the market: something we have claimed for two months is very much in question).
Regardless, with the topic of secession on everybody’s lips, here is what none other than Ron Paul has said about this suddenly very volatile issue.
Ron Paul: This weekend I got a couple of calls from the media asking me questions about Rick Perry, our governor here in Texas and the statements he made about possible secession. Now, he didn’t call for secession, but he was restating a principle that was long held and at least in the original time of our country, and that is that there was a right to secession.
Actually, after the Civil War, nobody believes there is a so-called right to secession, but it is a very legitimate issue to debate because all of the states that came into the Union before the Civil War believed they have a right to secede and New England in the early part of the 19th century actually considered it, and nobody questioned them about whether they had the right to do it or not.
Since the Civil War, it’s been sort of a dead issue, but he brought it up. It stirred the media and believe me, it really stirred some of the liberal media where they started really screaming about what is going on here. “This is un-American”, I heard one individual say, “This is treasonous to even talk about it.”
Well, they don’t know their history very well because if they think about it, it’s an American tradition. It’s very American to talk about secession. That’s how we came into being. Thirteen colonies seceded from the British and established a new country, so secession is very much an American principle.
America is over $16 trillion in debt. The “official” unemployment rate still hovers around 8%.
Our federal government claims the right to spy on American citizens, indefinitely detain them, and even assassinate them without trial.
Domestic drones fly over the country for civilian surveillance.
Twelve million fewer Americans voted in 2012 than in 2008, yet political pundits scratch their heads.
It’s not hard to see why, though.
To go along with endorsing a never-ending policy of bailouts, “stimulus packages,” and foreign military adventurism, the establishment of neither major party questions the assaults on Americans’ liberties I’ve named above.
As my campaign showed, the American people are fed up. Many realized heading into Tuesday that regardless of who won the presidential election, the status quo would be the real victor. Continue reading »
A German federal court has said that country’s central bank should conduct annual audits and physically inspect its gold reserves worldwide, including gold in the custody of the Federal Reserve Bank of New York. In addition to the FRBNY, Bundesbank gold is stored in London, Paris and Frankfurt.For decades, the Bundesbank has relied on written confirmation of its gold holdings in London, Paris and New York. According to the report from the German audit court, the last time Bundesbank officials physically inspected the central banks gold holdings was, well, never.
Interestingly enough, the Bundesbank is apparently quite happy with taking the word of other central bankers about the existence, location and size of its gold reserves. It put out the word that it disagrees with the Audit Court, which only has advisory power and cannot force the Bundesbank to follow its recommendations, about the need for inspections. Nonetheless, the Bundesbank is actually going to follow the recommendation that it verify the gold stocks. It also has plans to ship some 150 tons of gold back to Germany for a more “thorough examination.”
Ron ‘I’m playing the long-game’ Paul will not go quietly into the night – and rightly so, it would seem, given his truthiness. In a recent brief interview on CNBC’s Futures Now, he managed to diss Romney, smash the ‘belief’ in a ‘two-party’ system, and undermine any hope for economic change from the farce of an election. Summed up simply: “There is essentially no difference between one administration and another, no matter what the platform.”Starting by agreeing with Jim Rogers recent views that we discussed here, he refises to endorse Romney and then it gets interesting…
“They haven’t the vaguest idea what Austrian free-market hard-money economics is”
The Turkish-Syrian Skirmish Is Being Taken Out Of Context
The mainstream American press has trumpeted for days the claim that Turkey is “retaliating” for artillery fire coming from Syrian government forces on the Syrian-Turkish border near the town of Akçakale.
Because Turkey is a member of Nato (for 50 years), a declaration of war by Turkey could well drag Nato into a conflict.
The Turkish people don’t like the turn of events … thousands of Turks took to the the streets in Ankara and Istanbul after Turkey’s parliament approved military operations against targets in Syria following the mortar attacks.
It was unknown whether the mortar shells were fired by Syrian government forces or rebels fighting to topple the government of President Bashar al-Assad. The Turkish response seemed to assume that the Syrian government was responsible.
Many alternative news sources claim that this was a “false flag” attack to justify a Turkish attack on Syria. Continue reading »