The socialist in sheep's clothes.

Knowing that most of his supporters are illiterate and base their views entirely on YouTube videos, Ron Paul has set out to deceive them by filling videos with buzzwords they like to hear (freedom, liberty, limited government, etc) while desperately praying that they will not read the legislation he has introduced in Congress.

http://www.govtrack.us/congress/bill.xpd?bill=h112-2768

Any economist can tell you that this is straight-out monetary socialism.

My Critique of Austrian Economics from 1930 to 1990 makes no mention of monetary socialism because, as of 1990, no Austrian economist (including Ron Paul) believed in monetary socialism. But that was 1990 when Paul was still a young man. Now, in his old age, Paul is no longer an Austrian but a believer in the Debt-Virus Theory.

The theoretical justification for HR 2768 is the Debt-Virus Theory and NOT Austrian Economics. Zarlenga and his minions (Kucinich and Paul) want to give the Treasury Department the authority to print all the money that Congress asks for without holding any assets (as the Federal Reserve is required to do) that can be used to buy back currency in the event that inflation threatens to turn into hyperinflation.

Click here to learn more about the Debt-Virus Theory.

Don't be a sheep! Read the legislation that a candidate has sponsored!

 

http://www.humanevents.com/article.php?id=48651

Clearly, Ron Paul is well aware that most of his followers, when confronted by a page of text, will just skim it looking for keywords that they like; e.g. "liberty" or "limited government." So Paul prints those words in ALL CAPS so his followers will be able to find them easily.

How else could Paul expect to get away with sponsoring a bill on behalf of Stephen Zarlenga than by assuming that his followers will not actually read it?

http://www.govtrack.us/congress/bill.xpd?bill=h112-2768

Read it yourself and tell me that this is not exactly what the Ukrainian government was doing in the early 1990s.

Subsidizing state-run industries with uncovered monetary emissions is exactly what Stephen Zarlenga is proposing. No? How else can the following quotation be interpreted except that Zarlenga would subsidize the Departments of Transportation and Education and fund socialized medicine with uncovered monetary emissions?

The Ukrainian currency in the early 1990’s (before it collapsed and was replaced by the hryvnia in 1996) was “debt-free” and yet they set a world record for inflation in one calendar year. Can anyone explain to me why the United States is not going to experience Ukrainian-style hyperinflation if Zarlenga gets his way?

 

Does anybody on this forum support HR 2768?

Has anybody actually read it?

 

assets, like a portfolio of deadbeat CDS and other banking debt ? Good luck with that. Perhaps the banking system will buy its crap back ?

 

On the subject of illiterates, you obviously didn't read the paper that you are criticizing.

And you obviously didn’t read HR 2768, or you would know that the only assets it concerns are Treasury Bills.

Perhaps you can get someone to read these documents to you and then try again?

 

Everyone is affected by inflation. Purchasing power more important than any numerical amount of wage. ALL are purchasers. Our founders warned of bankers controlling our currency, hence wanting only government to be allowed to coin money. Would you call our founders socialists? Ludicrous.

Your assertions are as naive as those who think free trade is small government, not realizing that ALL the dumb taxes that they have to pay, none of which make any sense, all stem from the lack of revenue tariffs provided, and used to pay for our government.

 

we gonna raise interest rates to sell t-bills in the face of stagflation ?
Pretty cool trick.

 

Lol I'm sorry but your entire post is a riot. You are a bigger conspiracy theorist than the conspiracy theorist you call names. I also couldn't help but think that "Knowing all of Romney's supporters are old, scared of everything, can't read without their glasses but even that's a 50/50 shot with them cataracts and all and their views from AM radio from a guy trying to sell them "patriotic" tea.




What a joke. Next.

 

Source: http://famguardian.org/Subjects/MoneyBanking/FederalReserve/FRconspire/FRconspire.htm

Edward Flaherty has taken the time to debunk some of the ideas that motivate HR 2768.

 

http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=meetflaherty

This Edward Flaherty?

 

He does this a lot? Where?

At no point in Flaherty's paper does he call Griffin out by name. So why is Griffin responding?

The only person that Flaherty calls out by name is Jacques Jaikaran, who coined the term Debt-Virus Theory.

Stephen Zarlenga is not actually much of an original thinker; most of his theory is lifted straight out of Jaikaran’s book. But Jaikaran is in prison for tax evasion while Zarlenga is a powerful man with an organization, the American Monetary Institute, and two congressmen, Paul and Kucinich, in his hip pocket.

Can you defend this?

Griffin isn’t going to help you – he doesn’t believe in Zarlenga’s scheme any more than I do.

 

So let me see if I've got this straight. You're upset because you don't agree with the policies of a 76 yr old man who can't possibly be elected POTUS?

Tsk, tsk... save your outrage for something real.

 

Based on what Ron Paul says, he just may be too senile for the position.

 

he'd probably wipe your ass in a test of cognitive ability.

 

I think the expression is "kick your ass." Welcome to America!

When the rest of you get done smirking over the visual that Squidward's remark evoked, can you lay off the personal attacks on Ron Paul, please?

The purpose of this thread is to discuss his proposed legislation, HR 2768. Even if Paul is affected by age (as a young man he believed in only Austrian economics, not the Debt-Virus Theory), he is quite popular and, if his ideas are not discredited, a younger man or woman will take them up four years hence.

 

thinking is where you made your first mistake. You need to get out more.

tell us again how the FED will sell off an enormous amount of junk debt that it purchased from its shareholders' private banks, paying 100% notional.

 

Social Democratcy isn't bad. The best leader so far in the 21st Century is probably ex-President Lula Da Silva of Brazil and he is definitely a Social Democrat and to the left of Obama by quite a bit.

 

and the ultra wealthy in brazil continue to build some nice shacks for the hopelessly impoverished.

 

On the subject of illiterates, you obviously didn't read the paper that you are criticizing.

And you obviously didn’t read HR 2768, or you would know that the only assets it concerns are Treasury Bills.

Perhaps you can get someone to read these documents to you and then try again?

 

it can't sell it's short term debt. There is no yield, and no ability for the interest rate to move down, generating profit on the resale.
Those bonds are dead in the water and everybody knows it. $600 trillion in interest rate swaps is the only thing sustaining the bond market.

 

It is impossible to sell three-month T-Bills? I thought that short-term debt backed by the full faith and credit of the U.S. government was a safe invstment. Silly me!

Ron Paul want the U.S. government to default on its debt.

And the millions of Americans who own three-month T-Bills? Won't they complain?

Not a problem! Squidward will just explain to them that those bills were already worthless. Brilliant!

 

yes

the topic is selling them back into the market to quell inflation.

 

Actually, teaching basic economics to illiterates is an annoying distraction. Just read this paper and stop bugging us with the fact that you are oblivious as to why the Fed holds a portfolio of three-month T-Bills.

Source: http://www.govtrack.us/congress/bill.xpd?bill=h112-2768

As I was saying, Ron Paul wants the U.S. government to default on its debt.

And the millions of Americans who own three-month T-Bills? Won't they complain?

Not a problem! In spite of the fact that every three-month T-Bill is identical, it is entirely possible for the Paul administration to stiff only certain holders of T-Bills while honoring their debt to other holders of T-Bills. And, if you don't believe Ron Paul, just ask Dilbert!

 

you're the one who indicated they would sell them back into the market counter inflation.

 

Squidward seems like an odd spokesperson for Ron Paul and HR 2768.

Anybody else on this forum support HR 2768?

Somebody who will read the paper they are criticizing before launching into their tirade?

Somebody who does not need basic economics explained to them, like the fact that central banks hold assets (gold, three-month T-Bills, etc) for the purpose of selling them for cash and destroying the cash if inflation threatens to turn into hyperinflation?