Washington, DC – Congressman Ron Paul (TX-14) has introduced HR 459, The Audit the Fed Bill to the 112th Congress.
Sunday, January 30, 2011
Wednesday, January 12, 2011
Could the Fed go Broke?
Could the Fed Go Broke? The Federal Reserve is currently holding toxic paper purchased to bail out Fannie Mae and Freddie Mac, long-term government bonds, securitized mortgages, etc. Would a 1% increase in the interest rate cause the Fed to become technically bankrupt? A good CNBC interview with former FED member.
Wednesday, January 5, 2011
Total Eclipse of the Economy-The Collapse of Socialism
Martin (Hurricane) Armstrong languishes is Federal Prison where he publishes his hand-typed Armstrong Economics reports. His latest, "The Total Eclipse of the Economy" is a must read. Armstrong pulls no punches as he targets the New York banks, the SEC and the government for the current economic crisis. He describes the event we are enduring as the "Collapse of Socialism".
Monday, January 3, 2011
Kickin' the Can Down the Road
The incoming Congress has an unprecedented opportunity to reassert it's constutional authority to control government spending and fulfill campaign promises to reduce the size and scope of the federal beaurocracy. As the date to extend the federal debt ceiling approaches, people will start getting nervous when faced with the possibility of a debt default. This debt default is, in my opinion, 99.9% inevitable. The question is not really IF, but rather WHEN? We're borrowing $4 billion a day to pay the interest on our current debt and faced with the choice of defaulting on our debt or kicking the debt can down the road by continuing to borrow more and more, you know it's the taxpayer's can that is going to get kicked time and time again.
My suggestion to the newly arriving members of the House would be to raise the debt limit only enough to give our drowning government a gasp of air while demanding concessions of significant reductions in the federal spending and beaurocracy. In the first two years of the Obama administration I don't recall a budget ever being passed and that is a prime responsibility of the House of Representatives. The federal government has played fast and loose with the constitution for far too long and this country cannot keep kicking the can down the road forever. There are no easy choices and no pleasant results for the situation this government has put the people in and I think it only fair that the government pay the price for trampling on the liberties and freedoms of its citizens. We have hundreds of military bases around the world and spend over $1 trillion a year imposing our influence in places where we have no constitutional right to be. Our government continues to try to tell us how to live and now apparently want to tell us how and when to die. I would prefer to reserve those rights for the individual as well as countless other liberties that are being threatened.
If this country is going to be saved from economic ruin, it will not be saved by the federal government, but by the people who granted the government the right to exist in the first place. If we must kick that can down the road in the future, let's not kick it so hard or so far, and pray that our Congress will reassert it's constitutional authority to control government spending by demanding concessions for every debt limit increase granted to the executive branch. Socialism doesn't work and the time has come to revive the American spirit of free markets and liberty for American citizens and get the government off our backs in limited to it's constitutionally-defined purpose.
Please refer to the constitution on my website for the duties and obligations of congress.
My suggestion to the newly arriving members of the House would be to raise the debt limit only enough to give our drowning government a gasp of air while demanding concessions of significant reductions in the federal spending and beaurocracy. In the first two years of the Obama administration I don't recall a budget ever being passed and that is a prime responsibility of the House of Representatives. The federal government has played fast and loose with the constitution for far too long and this country cannot keep kicking the can down the road forever. There are no easy choices and no pleasant results for the situation this government has put the people in and I think it only fair that the government pay the price for trampling on the liberties and freedoms of its citizens. We have hundreds of military bases around the world and spend over $1 trillion a year imposing our influence in places where we have no constitutional right to be. Our government continues to try to tell us how to live and now apparently want to tell us how and when to die. I would prefer to reserve those rights for the individual as well as countless other liberties that are being threatened.
If this country is going to be saved from economic ruin, it will not be saved by the federal government, but by the people who granted the government the right to exist in the first place. If we must kick that can down the road in the future, let's not kick it so hard or so far, and pray that our Congress will reassert it's constitutional authority to control government spending by demanding concessions for every debt limit increase granted to the executive branch. Socialism doesn't work and the time has come to revive the American spirit of free markets and liberty for American citizens and get the government off our backs in limited to it's constitutionally-defined purpose.
Please refer to the constitution on my website for the duties and obligations of congress.
Saturday, January 1, 2011
What Now?
Well, we've thrown out a bunch of "Tax and Spend" congressmen and senators and suffered through the final lame-duck agony which saw Harry Reid's sleight-of-hand handling of the onerous "Food Safety" legislation. The new congress takes over on Tuesday (or is it Wednesday?). I can't wait. The following link is a good article about Tea Party achievements and expectations.
| http://www.personalliberty.com/conservative-politics/government/will-the-new-congress-have-the-guts-to-do-it/?eiid=&rmid=2010_12_31_PLA_[PIZ5310E]&rrid=238523905 |
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