Steve Forbes Interview with Ron Paul on His Bill to Audit the Federal Reserve ~ Ron Paul 2012

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• steve Forbes
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[tkcomputerservice]

Ben Franklin

"When the people find that they can vote themselves money, that will herald the end of the Republic."

Thomas Jefferson

"The central bank is an institution of the most deadly hostility existing against the principles and form of our Constitution."

John Adams

"All the perplexities, confusion and distress in America arise, not from defects in their Constitution, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."

[sargon08]

i think Ron Paul started a revolution !!

[jcaled24]

RON PAUL 2012!!!!

[Kavenger11]

Who in hell would give this a thumbs down? Must be asshole Ben Bernanke or tiny tim geutner.

[Salvysahagun]

@hitlerscow

Before you listen to what the Tea Party tells you, it would make sense to understand what exactly is The American School of Economics (Hamiltons Platform)

[Salvysahagun]

@hitlerscow

No it wasn't. ANYONE could get a loan from the bank. Its seldom loaned to commercial banks. I don't know where you read that.

Have you even read Alexander Hamiltons "Report on a National Bank" Here are some of the 24 laws of the bank

1- Capital Stock of the bank not exceed $10milion

8- No Loan shall be made by the bank for by the government of the United States... or any foriegn prince/state.

13- None but a stockholder being a citizen of the United States shall be on the board

[hitlerscow]

@Salvysahagun First Bank of the United States - first private central bank of the United States.

Central bank - A national bank that provides financial and banking services for its country's government and commercial banking system.

Looks like a central bank to me. Regardless, I've already conceited a central bank without the power to coin/print money would be acceptable. Centralized currency is important (especially globally). Thats why the First National bank was setup in the first place.

[Salvysahagun]

@hitlerscow

No they were not.

I've actually did something most Americans never do.

I READ the bill that gave the 1st national bank its charter.

The bank was made to get commerce going and rarely loaned to commercial banks.

Mainley to productive industry.

As a matter a fact the president could Veto any loan.

[hitlerscow]

@Salvysahagun They were central banks...they just didn't have the power to coin money. They only had the ability to create credit using fractional reserve banking. Today we have a central bank that has monopolized those powers.

[Salvysahagun]

@hitlerscow

You just described what you did.

You have yet to acknolege that neither the 1st nor 2nd national bank where NOT central banks

[hitlerscow]

@Salvysahagun You're using doublethink to ignore the facts I've presented...Instead of accepting you could be wrong, you're just saying it never happened and repeating yourself.

[Salvysahagun]

@hitlerscow

And guess what. Neither the 1st nor 2nd national bank did any of things you discribed. Congress still printed the money the national bank was actually given a cap on how much capital it could have.

Okay, but I'm just telling you Ron Paul lovey doveys that the Founding Fathers were not Austrian Economist or even libertarians for that matter.