CNBC Part 1

Congressman Paul guest hosts on CNBC's Squawk Box for an hour December 15, 2009

Category:

News & Politics

Tags:

• fed
• audit
• dollar
• economic

[jcvjcvjcvjcv]

Why can't the fed advocates never speak without stuttering?

[OutlawTomFantastic]

This Prof. Mishkin guy who is part of the J-tribe is doing everything he can to dissuade us from finding out where the money really goes. This is ludicrous. The American people deserve to know where their money is being squandered. And when we do find out, we deserve to have the Fed demolished AND REPLACED WITH NOTHING.

[kessass83]

By auditing that institution you will have much sounder financial system rather then: Oh don't audit, oh very dangerous". I am not sure if they know what audit means. And plus only politicians (or very few who should know) i think would have final results about that audit. And upon them would be to tell or not to tell.

[kessass83]

The problem is that all these politicians and top economists has to be diplomatics and don't hurt any side they represent. But at the end, if the government can't Audit the institution which control money issue, so there is 200% fraud and there is something wrong. The only thing they do is they play with words. Waste tax money? By inflation you put much much higher tax on people.

[mthaker]

I think Professor Mishkin is an honest man who doesn't intend ill things. He's an academic and does indeed have a wealth of knowledge, but I think he is a bit naive by believing that everything that goes on in the Fed's discount window is sound decision-making. He also doesn't seem to take into account how the Fed distorts the freemarket by introducing moral hazard, cheap credit, and monetary inflation.

[AuxentiusZ]

Get Ron Paul in the White House!

[bluetablepainting]

"There is a lot of hostility to the Fed." Yes there is, and this will increase if there is an audit. There SHOULD be hostility to a central bank.

[bluetablepainting]

The fundamental error here is that the fundamental thing that banks do (fractional reserve banking) is a fraudulent exchange. It's legal, yes, but it does a basic thing. It consolidates money into few hands. The power of a Central Bank can suck the life out of a nation, centralize resources and runs the risk of turning a whole nation into a Killing Machine (eg waging wars that it otherwise could not have afforded).

Back to point: banks SHOULD fail. There should be runs on a bank.

[bluetablepainting]

Mishkin's arguments are pathetic. There's no way to do a Centrally planned economy "right".

"In the United States, it [The Fed] fundamentally altered the balance of power in our democratic system. Votes, campaign promises, polls, public opinion, laws, restrictions ont he state, all of these forces took a backseat to the goals of the government to expand." -- Ron Paul

[bluetablepainting]

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done int he case of gold... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process..." -- Alan Greenspan before he became a Statist.

[StockMarketVideo]

GREAT VIDEO! Thanks for sharing!

Happy Trading!

[TheHylander1314]

What Dr Paul talks about is very good. The trouble we have, is the moneychangers in, and in control of the temple. We need to kick them out as was done in the past. Just as Andrew Jackson did to the 2nd Bank of the United States.