Ron Paul: Transparency and Accountability for the Federal Reserve!


Hello, this is Ron Paul with your weekly update
for January 10th. Last week, the 112th Congress was sworn in.
I am pleased that I will be chairing the Monetary Policy Subcommittee of the Financial Services
Committee which has oversight of the Federal Reserve. Obviously, this position will facilitate
my efforts to ensure the Fed provides the American people with more information about
what they have been doing with and to our money. Not surprisingly, since my chairmanship was
announced, apologists for the Fed have been recycling the old canard about how increased
transparency threatens the Fed’s so-called political independence. By ‘independence’
they are referring to the Fed’s ability to greatly impact the economy with virtually
no meaningful oversight. We only recently learned that the bankers at the Fed were able
to use the latest financial crisis to bail out Wall Street cronies and foreign central
banks with billions of dollars that were created and wasted instead of appropriated and voted
on by representatives of the people. The Fed and its supporters in the Congress vehemently
fought even this small bit of transparency and without this one-time provision in the
Financial Reform Act forcing disclosure we would still not have this information. Indeed, we are in the dark on so much of what
the Fed has done. This is extremely dangerous for our country, yet this power and secrecy
is defended as some kind of public good, which is patently ridiculous. Our government is
based on a system of checks and balances. With no check on the Fed, it is no surprise
it has thrown the economy wildly off-balance. The solution is not to reinflate the bubbles
the Fed created or to continue to devalue the currency or to throw billions at failing
banks and corporations. The solution is to return sanity and freedom to monetary policy.
Forcing the entire country to use a medium of exchange that is subject to the whims of
elite bankers and their cronies on Wall Street is not sanity. Hoping that an unchecked all-powerful
behemoth banking cartel will solve any economic problem is not sanity. The problems the Fed was originally created
to solve now look miniscule compared to the problems it has created. If political independence
erodes the purchasing power of the currency by 98%, destabilizes the economy with radical
booms and busts, all while increasing unemployment and tipping us ever closer to hyperinflation,
perhaps it is time to try a little transparency and accountability instead. Better still,
we should try goving the people true economic freedom. Make no mistake, the Fed is not truly independent
of political pressure. Its chair is appointed by the president and it is a creature of Congress.
Congress has a duty, albeit a neglected one, to exercise oversight of the Fed. However,
even if it was politicially independent, it is not independent of the influence of Wall
Street. One only has to look at the revolving door between the Fed and the big banks to
know that. Disclosure of TARP funds confirm this. It is nothing short of cruel and criminal
for Congress to stand idly by while the life savings of Americans are inflated away to
nothing. It is high time Congress insists on getting complete information on what the
Fed has been doing and for whom. My hope is that exposing the truth will demonstrate
the insanity of the status quo and more people will call for sensible changes, such as legalizing
competing currencies. Thanks for calling this update. A new update
is placed on this number, 888-322-1414 every Monday. The written text can be found on my
website www.house.gov/paul under the heading “Texas Straight Talk”. Thanks for calling.

44 thoughts on “Ron Paul: Transparency and Accountability for the Federal Reserve!

  • Run Ron Run
    Run Ron Run
    Run Ron Run
    Dr. Ron Paul Hope for America!
    END THE FED!
    info at Liberty Poet and Daily Paul
    websites

  • unfortunatly,the fed will never disclose how they are gonna take our country down,all the presidents have allowed the private bank to destroy our country,mr paul i wish you were president,unfortunatly you will never get a fair chance because the rothchilds or rockafellars wont stand for it.u r a true patriot.and thats what they fear the most.

  • @Nothingizm you know that he wont become president because the elites wont stand for it,he cannot be financed like those that have all ready been selected to become president next.i wish he were president.i hope nothing happens to this man,because anyone that has had the same beliefs has been taken out(murdered).

  • @18wheeler76
    are you nuts what do you think Paul is a common man> he is part of the elite but i can assure common people have no place in his life.

  • @Nothingizm done this already (HAPPILY) I wholeheartedly believe in Ron Paul – and I am doing my part – check out: BackstreetAmerica[dot]com. Incidentally, Backstreet America is undergoing a make over…But yet, active.

  • I fear for Dr. Paul's life after getting this position…
    I just don't see the Bankers allowing him to have this power.
    May God protect him!

    We need more Ron Paul's in this world!

  • It is really unfortunate that our older generation thinks so poorly of you Mr. Paul. When you didn't win in 2008, I made a vow. I won't do nothing, and every little bit counts, so I do what I can to help people understand just how unfairly you're treated compared to the likes of McCain and Obama. If anyone can give me my future back, it's you, and you've got my vote a hundred times.

  • ron you are the man! but could you talk a little louder on your updates please, my computer has shitty speakers.

  • @aragornsargonath it's probably similar to the way the federal government forced states to make the drinking age 21 by refusing federal funds to the states who didn't change.

  • The Fed is politically independant
    The chairman is selected by the president
    The transparancy of theFed will ruin the politically selected chairman from acting independantly. We should let them continue this facade and destroy the US economy.
    Yours sincerely, Ben Shalom Bernanke

  • Just as Paul will do with his overseeing position, it reminds us that we should always question the things in which "everyone agrees." Foreign aid, undeclared wars, war on drugs, inflation vs deflation… all of these have had a resurgence in public scrutiny. Thank you Dr. Paul.

  • I support Ron Paul. But the powers that be are very powerful and we are headed for doom! Who is more powerful then God, who holds governments in His hand? We need to repent and pray for God to change our situation. If you think this is false and we as Americans do not repent and pray then these things will continue. Period.

  • I am really glad Ron Paul finally has a chance to take down the Fed. This couldn't of come at a better time. Ron Paul, a true patriot!

  • Why is our country able to continue this charade. It's very frightening that our dollar has lost 98% of its purchasing power yet we continue to use the dollar as if it has value. Are we all crazy or something. I guess as long as everyone ignores the problem the problem doesn't exist?

  • Careful Ron you make sense and it can be silenced as it was done with JFK and his executive order 11110 that was silenced by the FED

  • @411American Most people never even knew about that order.
    times are different word spreads faster but if they fuck with My HERO DR PAUL its over for them!!

  • @411American It might be, but remember, freedom is never free. If he is willing the risk, then even if he was silenced, it will bring a big point to the others out there that think Paul is a looney. Go Ron, we really need more like you fighting for us. I just hope that our new house will do what we ask them to do.

  • Global government disassemble y Ron is half right less government "world government " People are ready the riots and chemicals had started we are use to war why not fight for our home land on our home land – End the FED /IMF reduce the Government to a non violence state.

  • @lomocan You can never get rid of all the nut jobs. Everyone with supporters has some morons. Judge RP by his actions and arguments, not by those who support him…. unless they are those of us that can logically articulate his points.

  • @AngryMuppet2012 You need to check what kind of primary your state has. You don't always need to register. I did in 2007 to vote for him here in Michigan.

    RP FTW!

  • @WorldSutra Oh no! Another leftist troll has taken upon him/herself to spam videos with inflammatory nonsense! Whatever shall we do?! …Probably just laugh and ignore you.

  • I have tried to sign the petition for Dr. Ron Paul on that web site for two days now and when I get to the page everything freezes and forces me to shut down my browser. If you are having the same problem give this the thumbs up!!! BTW – Check this out: breitbart [.tv] /george-soros-time-for-us-to-get-used-to-new-world-order/

  • Monetary subcommittee? Who was the previous chair? Why was Ron not already on the committee? Is it a new commity? Why isn't he taking over the House Financial Services Commity? Was he not the ranking Repulican member while Barney Frank was the chair? Are they just trying to find something for him to chair because the leadership didn't want to give him the HFSC Chairmanship?

  • @WorldSutra <—Total troll…. his account has been closed, i wouldn't be surprised if his IP address originated from a DHS computer (department of homeland security); more like department of propaganda.

  • Ron/Rand 2012! End the Fed! Close the Dept of Energy, Dept of Education, Dept of Homeland Security, FDA, and the Dept of Housing and Urban Development. Cut the military budget by 90%. Problems solved.

  • This is a man who FEARS GOD! I CAN HEAR IT IN HIS VOICE!

    Well, that is why he's 'not in sync with his party'!

    I never hear so much TRUTH and HUMILITY in a congressman's speech before. Thaddeus McCotter doesnt even come close although he might be brilliant.

  • All congress reps should do what is right even though their constituents might not ask of it or even deny it. Afterall, principles is principles. Just look at how he is NOT IN SYNC WITH THE PARTY, just because he loves his country! GOD BLESS YOU!! A PERSON WITH PRINCIPLES WILL ALWAYS SHINE IN THE DARK!!

  • I signed it gladly. I owe this man so much for my intellectual re-awakening that I could never repay him, though I try every day by being politically aware, holding congress accountable, and through informing and educating others about the truth behind the lies, the dangerous Federal Reserve and the special interests who would have us be slaves in a totalitarian government. Each person we bring to the side of liberty and the constitution puts us one step closer to winning this battle.

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