Ron Paul

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Feb 24, 2010 11:02 am

Has gone off the deep end.  Grilling Bernanke about the Fed's involvement in Watergate?  WTF?  

Feb 24, 2010 11:05 am

Sacrilege!  Ron Paul is the man.  Just ask Saul4Paul!

He just hates anything to do with the Fed. 

Feb 24, 2010 11:14 am
Moraen:

Sacrilege!  Ron Paul is the man.  Just ask Saul4Paul!

He just hates anything to do with the Fed. 



Did you see his testimony?  He also accused the Fed of going around
Congress to appropriate $4billion for Saddam Hussein to buy weapons
from the US military industrial complex in the 1980s.  Bernanke's
response was classic.

Feb 24, 2010 11:19 am

No.  Didn't see it.  I don't watch TV during work hours, I do meaningless calculations, data mining, and try to express news and media events as mathematical formulas.  Screw it, I should just bring my Xbox in here!

What did Ben say?

Feb 24, 2010 11:21 am

Congress is very impressive.

 
 
 
Feb 24, 2010 11:23 am
Shania Twain:

Congress is very impressive.

 
 
 




Feb 24, 2010 11:29 am

The fed on paper makes sense. 

 
But hell, maybe paul is right.   
 
Has the economy performed any better over time with the fed tweaks?
 
Im such a champion of free markets......do you need the damn Fed?
Feb 24, 2010 11:31 am

We need the Fed like we need an electoral college

Feb 24, 2010 11:38 am

I agree, we do need both the Fed and Electoral colleges (honestly).

 
Ron Paul is like Kucinich(sp) to me.
Feb 24, 2010 11:48 am

Oh no I implied that I do not believe we need either.


Free markets will set interest rates themselves and I disagree against electing a president despite the majority of the country voting for his opponent.
Feb 24, 2010 11:50 am

I think we can get rid of the fed, but keep the electoral college. 

In it's way, the electoral college is more of a 'republic' than just having a popular vote. 


Feb 24, 2010 12:02 pm

I see you (GetHard) are a fan of the tyranny of the majority.  As Moraen pointed out, the EC is one of the great tools from keeping us from being a Democracy - which would be an absolute mess.

 

Furthermore, if we didn't have EC, then Gore would have been a president.  I think that is enough supportive proof.
 
I strongly doubt in the free markets ability to set interest rates.  I have no doubt that the free market could not adequately control the money supply.
 
A "Free Market" is like Direct Democracy.  In theory, it sounds nice, but in practicality it is a terrible idea.
 
 
Feb 24, 2010 2:37 pm
Wet_Blanket:

I see you (GetHard) are a fan of the tyranny of the majority.  As Moraen pointed out, the EC is one of the great tools from keeping us from being a Democracy - which would be an absolute mess.

 

Furthermore, if we didn't have EC, then Gore would have been a president.  I think that is enough supportive proof.
 
I strongly doubt in the free markets ability to set interest rates.  I have no doubt that the free market could not adequately control the money supply.
 
A "Free Market" is like Direct Democracy.  In theory, it sounds nice, but in practicality it is a terrible idea.
 
 



I'm not saying completely get rid of a "fed-like" institution.  But as it is, it is a complete mess.  And no, I don't have a recommendation on how to fix it.

Feb 24, 2010 3:06 pm

The FED is an excellent idea. The problem is when it gets politicized. For instance, Rep. Waters from Calif. worried that raising the discount rate would hurt mortgage rates and cause more foreclosures due to ARMS resetting? Are these people, in charge of setting policy and approving budgets, that moronic that they don't even know how interest rates work. Moreover, they grill him on things that are out of his jurisdiction. He's in charge of the money supply, credit markets, overall monetary policy NOT Budget Policy.


The fact that the FED buys the majority of our National Debt should probably raise some red flags but ulitmately it then auctions it off to investors anyway.
Feb 24, 2010 3:10 pm

Damnit I can see both sides of the story....


I had a post typed out on capitalism and whether or not our country is 100% capitalistic then I realized it would spark an entire new debate, one that's been covered many times over.

I also wikipedia'd "capitalism." Warning: not for the faint of heart.
 
back to cold calling get money get paid
Feb 24, 2010 3:12 pm
LSUAlum:

The FED is an excellent idea. The problem is when it gets politicized. For instance, Rep. Waters from Calif. worried that raising the discount rate would hurt mortgage rates and cause more foreclosures due to ARMS resetting? Are these people, in charge of setting policy and approving budgets, that moronic that they don't even know how interest rates work. Moreover, they grill him on things that are out of his jurisdiction. He's in charge of the money supply, credit markets, overall monetary policy NOT Budget Policy.


The fact that the FED buys the majority of our National Debt should probably raise some red flags but ulitmately it then auctions it off to investors anyway.



Michelle Bachmann asked Bernanke if there were two discount windows.

Feb 24, 2010 3:13 pm
gethardgetraw:

...and I disagree against electing a president despite the majority of the country voting for his opponent.

This is a republic, just as the Founding Fathers intended.
Feb 24, 2010 3:21 pm
LockEDJ:
gethardgetraw:

...and I disagree against electing a president despite the majority of the country voting for his opponent.

This is a republic, just as the Founding Fathers intended.
 
Wow realized my original statement contains a lot of negatives...

For clarification: I agree with electing a president once he has captured the majority of the citizens' vote.
 
__________
 
James Madison defined republic in terms of representative democracy
 
Representative democracy is a form of government founded on the principle of elected individuals representing the people
Feb 24, 2010 3:23 pm
NYCTrader:
LSUAlum:

The FED is an excellent idea. The problem is when it gets politicized. For instance, Rep. Waters from Calif. worried that raising the discount rate would hurt mortgage rates and cause more foreclosures due to ARMS resetting? Are these people, in charge of setting policy and approving budgets, that moronic that they don't even know how interest rates work. Moreover, they grill him on things that are out of his jurisdiction. He's in charge of the money supply, credit markets, overall monetary policy NOT Budget Policy.


The fact that the FED buys the majority of our National Debt should probably raise some red flags but ulitmately it then auctions it off to investors anyway.



Michelle Bachmann asked Bernanke if there were two discount windows.


Missed that part. I wonder if he said, only during peak breakfast and lunch hours. We modeled it after the great R. Kroc's franchise.
Feb 24, 2010 3:27 pm
gethardgetraw:
LockEDJ:
gethardgetraw:

...and I disagree against electing a president despite the majority of the country voting for his opponent.

This is a republic, just as the Founding Fathers intended.
 
Wow realized my original statement contains a lot of negatives...

For clarification: I agree with electing a president once he has captured the majority of the citizens' vote.
 
__________
 
James Madison defined republic in terms of representative democracy
 
Representative democracy is a form of government founded on the principle of elected individuals representing the people

And that is exactly what the Electoral College does. It casts it's votes based on the STATE's election of the next president.
 
Do not confuse the issue that we are a group of STATES who are UNITED together. We are a really large Eurpean Union. Each state has it's own rights. Unfortunately the Federal Government has infringed upon those rights over the years to the point where people forget that we were founded on the notion that the STATES maintained the majority the decision making within their own borders. The federal government was supposed to control the national defense and provide a unified national foreign policy so that say Louisiana wasn't negotiating with France while New York was negotiating with Spain on the same issue.