Saturday, October 31, 2009
The Origins of the US Dollar.
Philosopher Ayn Rand once pointed out that it was Americans who coined the phrase “to make money.” Rather than seeing wealth as something looted or distributed, Rand conceived of it as being earned and produced. In America, the embodiment of financial wealth is the US dollar, also known as ‘the buck’ and ‘the greenback’. It seems fitting, then, to reflect on the origins of the dollar – both where it came from and how it evolved into the fiat currency that it is today...Link
Friday, October 30, 2009
Gutted.
Oct. 30 (Bloomberg) -- Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House. The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today...Link
Ron Paul: Let the dollar prove itself..........
Washington, D.C. (CNN) -- A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar. The Fed's actions, combined with the federal government's bailout bills and stimulus packages, have struck a nerve in the American people. Recent polls have shown that more than 75 percent of Americans support efforts to audit the Fed, something which my bill, HR 1207, the Federal Reserve Transparency Act, aims to do. HR 1207 has the support of 304 members of Congress, and the Senate version of the bill, S. 604, is supported by 31 U.S. senators...Link
Thursday, October 29, 2009
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