Ron Paul on Coast to Coast AM

Ron Paul on Coast to Coast AM with George Noory

A Sound Bite: Free Market Economy Has Failed

We have been subjected to the onslaught of this sound bite coming from the top Banksters and Main Stream Media from the beginning of the sub-prime fiasco.  Of course there is only one solution to a failure of a Free Market.  That’s right… more regulation.  More aptly put: Less Freedom and more Government Control.

How many people across the country are now repeating that sound bite?  Many Americans, wanting to demonstrate their knowledge in matters far above their daily life, are using sound bites like this one while repeating the latest propaganda spewing from the bought and paid for Main Stream Media.  Some may even engage in lengthy arguments over this misinformation and denial of obvious truths that have been staring them in the face for many, many decades.

The masses, having been focused on increasing their material wealth and “fun in the sun”,  haven’t had time to educate themselves on these very important issues. They depend on their limited education from government indoctrination centers, commonly referred to as “public education”, and the Main Stream Media for knowledge of the world around them. Imagine how different our reality might be if men and women had taken time after dinner, or right before bed, to read a book on any of these important matters.  In hindsight they might agree that a bit of self education is worth the effort to protect their freedom.

Is the sound bite “Free Market Economy Has Failed” in any way legitimate?

The truth of the matter is that intervention in the market, rather than the market economy itself, was the driving factor behind the bust.

F.A. Hayek won the Nobel Prize for his work showing how the central bank’s intervention into the economy gives rise to the boom-bust cycle, making us feel prosperous until we suffer the inevitable crash. Most Americans know nothing about Hayek’s theory (known as the Austrian theory of the business cycle), and are therefore easy prey for the quacks who blame the market for problems caused by the manipulation of money and credit. The artificial booms the Fed provokes, wrote economist Henry Hazlitt decades ago, must end “in a crisis and a slump, and…worse than the slump itself may be the public delusion that the slump has been caused, not by the previous inflation, but by the inherent defects of ‘capitalism.’”

Although my recently released book, Meltdown explains the process in more detail, an abbreviated version of Austrian business cycle theory might run as follows:

Government-established central banks can artificially lower interest rates by increasing the supply of money (and thus the funds banks have available to lend) through the banking system. This is supposed to stimulate the economy. What it actually does is mislead investors into embarking on an investment boom that the artificially low rates seem to validate but that in fact cannot be sustained under existing economic conditions. Investments that would have correctly been assessed as unprofitable are falsely appraised as profitable, and over time the result is the squandering of countless resources in lines of investment that should never have been begun.

Source: “No, The Free Market Did Not CauseThe Financial Crisis”, by Thomas E. Woods, Jr.

Continued Here.

CFR Corporate Members Get Lion’s Share of Bailout Funds

Source: NewAmerican

Written by Thomas R. Eddlem
Monday, 23 March 2009 11:30

Newspapers are fixated upon $160 million in bonuses given to American International Group (AIG) executives. And it’s nice to know where the millions are going (note: the bonuses could have been cancelled had the federal government let the company go bankrupt, as officials should have). But where are the trillions in TARP, TALC and Federal Reserve Bank bailout funds going? The man in charge of administering the bailouts is Treasury Secretary Timothy Geithner, who served as a staff member of the New York City-based Council on Foreign Relations before being hired in 2003 to head the New York City branch of the Federal Reserve Bank (Fed). As the vice chairman of the Fed’s Open Market Committee, Geithner is probably a poor choice to get the nation out of it’s current economic mess. He served as Alan Greenspan’s number two man at the Fed, so Geithner is as responsible as anyone for facilitating the severity of the real estate and financial bubble and its subsequent collapse. After all, the Fed was the driving force behind the asset bubble, inflating the bubble larger and larger through artificially low interest rates and an inflationary easy-money policy.

Under Geithner and his predecessor (former Goldman Sachs CEO Henry “Hank” Paulson), the majority of bailout funds have been awarded to high-level donors to Geithner’s former employer: the Council on Foreign Relations (CFR).

Thomas Eddlem raises very important questions at the end of his article … see the entire article here.  A great many of the People know the business relationship of the people involved and yet… there is nothing done.  The People screamed loud and clear for a “No” vote on the bailouts and yet… the bailouts were passed.  Maybe it’s time The People looked for new representation from a different political party?? How about a party that stands on the principles found in the founding documents of this country?

Prediction On The “Money”

On March 17, ’09 I reminded my readers of my prediction of Nov. 18, ’08 in the post “New Financial World Order” that I had made at suijurisclub.net.  Once again, I remind you of that prediction for a New World Currency and bring you an update.

It seems that President Obama, despite his denouncement of proposals by China and Russia to supplant the greenback with a new global currency, has, as pointed out in “Obama Denounces Global Currency While Creating The Very Means For Its Introduction“, brought a global currency even closer to reality.

My prediction was that this would happen “at first by stealth during the first year of the new administration.”  It seems he is working fast to bring this prediction true. Please take note of this article by Dick Morris, posted at his site on April 6, ’09: “The Declaration Of Independence Has Been Repealed.”

“On April 2, 2009, the work of July 4, 1776 was nullified at the meeting of the G-20 in London. The joint communiqué essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union.”

According to this article – it is a done deal!

If only I could predict the next 6 numbers to roll down the chute during the Lottery!!

Obama Denounces Global Currency While Creating The Very Means For Its Introduction

This post updates “New Financial World Order“, in which I shared my earlier prediction of a “world currency”.  At the bottom of that post is listed just a few of the several articles that can be found on the ‘net in support of that prediction.  And now there is this one, also from PrisonPlanet.com:

Obama, Geithner and Bernanke yesterday publicly defended the dollar and denounced proposals by China and Russia to supplant the greenback with a new global currency, and yet the very policies of the Obama administration, the Treasury and the Federal Reserve are creating the perfect storm for the dollar’s death and its replacement with a new international reserve currency.

And later in the article:

In the case of Obama, Geithner and Bernanke, actions certainly speak louder than words, because while publicly denouncing the demise of the dollar and the call for a new global currency, their every policy is creating the very means and justification for its introduction.

Bernanke himself has vehemently supported efforts to create a global regulatory framework that would act as the vehicle for the introduction of a new global currency to replace the dollar.

Read the article Here.