I have been discussing with Prof. David Andolfatto (a VP at the St. Louis Fed) the “idiocy” of a few accusations recently made by Ron Paul and the risks of transparency, however for some reason I am unable to post my latest response to this site. I won’t accuse him of blocking my IP (maybe there is a glitch with blogspot) but let it be known I could very easily use a different connection or a proxy to get around such a pathetic attempt at censorship. Instead I will just post it here, you should read the entire discussion on his site for this to make sense.
Update: David has confirmed he did not attempt to block my IP, I have been able to submit comments to his blog since this post. I look forward to his follow up post on this topic. Read more
A single currency has been rumored as the goal of international bankers by conspiracy theorists for decades, it’s nothing new. The conspiracy goes much further, saying this is the first step on the road to one world government. Rockefeller has even admitted as much in his own auto-biography.
This video is a bit old, the US dollar is temporarily rising as I post this comment, but the purpose of this clip is to help people understand that capitalism and debt based money are not the same. America was never intended to have a central bank. You can be capitalist without this ball and chain around our knecks. Free market capitalists hate the current system and have been predicting it’s end for decades.
I have been talking about the collapsing US economy for years (before this blog existed) but the way in which Paulson and Bernanke are trying to pass this bailout bill has caused me even greater concern. After years of saying the credit crisis was contained and no big deal, all of a sudden they want to ram through Congress in a matter of days near dictatorial powers for the executive branch? The power to spend unlimited amounts of money with no oversight? They admit the bill was written months ago, so why the haste? As obvious as the pending collapse was to see, the repulsive scent of fraud and corruption is obvious to smell. Did they really believe they could handle the situation, or is this actually proceeding exactly according to plan? There is something we’re not being told about their true objectives. I don’t trust it for a second.
I’m sure you have often heard the saying “if it ain’t broke, don’t fix it” — something similar should have been said many years ago about the complicated financial derivatives causing so many problems today. The risk associated with mortgages didn’t need to be spread out across the entire industry, the only result such a goal could ever have accomplished is to generate huge profits for massive risk takers abusing the system of “spreading risk” by dumping their crap on everyone else.
After throwing rates off a cliff he’s now complaining about a weak dollar — are you kidding me? Despite rattling a few speculators it barely budged the broader commodities market. You can’t talk down inflation and you can’t talk up the dollar. Inflation is not and has never been a psychological phenomenon, it is and has always been a monetary phenomenon.