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Why Ron Paul Wants to Eliminate the Fed

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the fed and treasury provide very powerful tools to temper the boom and busts from the over speculation in the free markets.

 

 

This is one of two subjects I stongly disagree with Paul.

 

 

 

 

My problem is not with the fed, but with the abundance of other irresponsible fiscal policies that force the fed to make such heavy handed actions.

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The fed Mike is 1 of the direct causes to todays financial mess.

 

Hard to isolate and say what if, since I do think the federal backing of mortgages and the weak accounting rules permitting off-balance sheet financing woud have lead to the crises regardless of other factors,

 

 

but I do think if the investment banks had to adhere to the same FRB capital requirements that banks were held to, a lot of these big risk trades would have been reigned in.

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idiot greenspan dropped the rates to 1 percent in front of hyperinflation. everything known to man 3x, homes, every bill, property taxes, forget healthcare thats a solid 10 pts per year, food, of course gas and yes the glass stegal debacle was the final straw to torch the whole fire.

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idiot greenspan dropped the rates to 1 percent in front of hyperinflation. everything known to man 3x, homes, every bill, property taxes, forget healthcare thats a solid 10 pts per year, food, of course gas and yes the glass stegal debacle was the final straw to torch the whole fire.

 

and greeny helped with that gem too.

 

 

 

yup

 

 

greeny also admitted he was wrong, so why throw out the baby with the bath water.

 

 

 

He assumed the markets would be self correcting, and I suspect he was also influenced by the WH desire to make sure everyone could buy a home.

 

 

 

But I think it all goes back to using a temporary tool over the long run. We know monetary policy was orchestrating soft landings. BUt at some point you either have to fix your house or deal with the pain.

 

 

 

 

 

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Central Banks have become Dictatorial and invasive.

 

In Europe, The ECB is making Demands on European Citizens.

 

Imagine if a bunch of unelected dewshbaghs from a neighboring country determined not only your Monetary policay, but your Pension policy, Welfare policy and ultimately employment policy and trends...

 

 

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BUt at some point you either have to fix your house or deal with the pain.

 

 

the longer the EU Crisis continues, the more Our own backstop errodes.

 

Right now the IMF is telling Greece to stop taxing too much.

 

Greece has approached Austerity as a Tax (confiscate) the Rich and then they will decide later what programs to cut...

 

The Greek Parliament will probably have to obey the IMF and the ECB as to how it manages it's house and how it tempers governemtn employment.

 

An outsider is dictating ways to repair the house, whether it works or not is not their problem, its on the pople within that house.

 

Things are dire

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drachma time , Sally

 

Not that easy.

 

EU treaties say that they have to help Greece, and the Greek toxin has infected all of the EU.

Too much greek debt circulated throughout the world.

 

Japan is a huge debt holder at the behest of assisting the EU.

 

 

It should have been Drachma Time June of 2010 and as recent as August of 2011.

 

Greece would have been cut off, their EU paper could have been devalued and

the rest of the world could stand on the sidelines and say "ain't it a shame" like they did with Argentina.

 

 

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