Ron Paul grills Bernanke: Wasn’t the Fed involved with Saddam and in Watergate?

Truth to the Watergate story.

http://hnn.us/blogs/entries/123737.html

megak on February 24, 2010 at 8:16 PM

Nixon may have been set up because he opposed to GATT. Kissinger, Haig and Elsberg all set up tricky Dick because he wouldn’t take the plunge.

Pitchforker on February 24, 2010 at 8:21 PM

1. Yes, Article 1 section 8 is abused, but im looking online and it gives congress the power to regulate both interstate commerce and coining/valuing/regulation of money. it’s not a huge leap to move to interest rates.

but you still havent answered why THIS pet project is the WORST THING EVAH

Keynesian economics is more or less theft, via currency manipulation. American leaders, dating back to Thomas Jefferson and Andrew Jackson have warned us of acquiescing our monetary freedom to these money masters. Remember what Reagan’s Grace Commission revealed? Nearly all of our federal tax dollars goes towards the interest on the debt as opposed to funding roads, services, etc. It’s limitless cycle of slavery, which ultimately ends with a destitute populace.

2. you’re kidding right? so all those GOLD STANDARD times were just peachy keen? just type “Panic of” into google and don’t even hit enter… look at ALLLLLL those “18something” years.

what caused those financial panics and crises?

dude, bubbles happen. businesses fail. things are cyclical. im not convinced that greenspan (another jew, imagine that!) has created worse conditions b/c of fed lending. the economic growth of the 1990s in the housing market alone created fantastic wealth that was invested in new business, R&D, and technology. while the housing values didnt hold up, the dollars MADE off that run (invested somewhere else) are part of the reason why we have better technology in medicine, communication, and computing.

convince me of the evil of alan greenspan.

battleoflepanto1571 on February 24, 2010 at 7:50 PM

We need a basket of competing currencies or a digital gold standard. Secondly, you stress that all this “wealth” was created when no such thing occurred. True Wealth is created via tangible activities, not via a printing press. Now that the spigot have been shut off and the equity markets have turned a blind eye to the irresponsible United States, we’ll see how well an economy heavily dependent on consumer spending (approximately 70%) moves ahead.

Pitchforker on February 24, 2010 at 8:37 PM

Maybe. Or maybe, just maybe, Nixon got “set up” because he stupidly got caught breaking the law.

Wouldn’t you think that a sitting President would have the power to silence the Washington Post? Game changing stories get “killed” at the editorial level all the time. Just look at the John Edwards saga.

Pitchforker on February 24, 2010 at 8:46 PM

See! There is no precedent for government to partake in illicit money transfers and/or utilize front corporations to facilitate certain foreign policy goals. Ron Paul is clearly a kook! I don’t know where he could get these fantastical ideas when there simply not possible. Our government and it’s branches are above the megalomaniac urges Lord Acton described. Right?

http://www.nytimes.com/1987/11/19/world/the-iran-contra-report-what-the-enterprise-was.html?pagewanted=1

Borrowing a term from Richard V. Secord, a retired Air Force major general, the Iran-contra report repeatedly refers to ”the Enterprise,” the organization of men, equipment, corporations and bank accounts created to conduct the business of selling arms to Iran and distributing the profits, some of them to the contras.

By the summer of 1986, according to the report, ”the Enterprise” had this scope: ”The organization that Richard Secord ran at Lieut. Col. Oliver North’s direction controlled five aircraft, including C-123 and C-7 transports. It had an airfield in one country, warehouse facilities at an air base in another, a stockpile of guns and military equipment to drop by air to the contras and secure communications equipment obtained by North from the National Security Agency.”

General Secord first described ”the Enterprise” simply as the group of offshore companies that carried out the Iran arms transfer and contra supply operations.

To Albert Hakim, General Secord’s partner, the report says, ”the Enterprise was a covert organization with a chain of command headed by North; it was also a business with a chain of Swiss accounts that he set up and partially owned.”

Later, the report says, General Secord testified ”that it was fair to describe the Enterprise as his own covert operations organization,” formed at the request of Colonel North and Rear Adm. John M. Poindexter, the President’s national security adviser.

Colonel North described the network as a private commercial organization, the reports says, but also states that ”it was the starting point for the creation of an organization that would conduct activities similar to those of the Central Intelligence Agency, including counterterrorism.”

Pitchforker on February 24, 2010 at 11:01 PM

Ronald Reagan was a Ron Paulite before he drifted to the left.

Until David Rockefeller saddled him with the elder Bush. And for the record, the elder Bush despised Reagan and I suspect Reagan didn’t like Bush very much. It was an arranged marriage.

Pitchforker on February 24, 2010 at 11:23 PM

Paul’s claims aren’t that outlandish. Where there is smoke there is fire:

http://www.economicpolicyjournal.com/2010/02/its-time-for-apology-to-ron-paul.html

Interesting that Paul is painting the Federal Reserve as being “above the law”, when they do partake in odd transactions from time to time.

Pitchforker on February 25, 2010 at 12:47 AM