Ron Paul’s Federal Reserve Board Abolition Act

From the outstanding NaturalNews.com:

This legislation introduced by Congressman Ron Paul in June, 2007 would kill the Federal Reserve Act and would then phase out the Federal Reserve altogether one year after the bill becomes law.

That link actually takes you to their generic legislation page.  Here is the link to Ron Paul’s Federal Reserve Board Abolition Act, H.R. 2755.  The article continues:

What the Federal Reserve is all about

The Federal Reserve is called that to fool you. It is actually a private corporation run by bankers dedicated to controlling the nation’s money supply for the benefit of themselves and other wealthy and powerful people. Its mandate is to control the rest of the people by controlling their access to money and credit.

Since the creation of the Federal Reserve in 1913, the American middle and working classes have been victimized by boom and bust monetary policy. Most Americans have suffered steady erosion of purchasing power at the hands of the Fed’s inflationary policies. The result of these policies represents an insidious and onerous tax imposed on the people on top of their already burdensome overt taxation.

The heavy hand of the Fed can be seen by any student of the Great Depression, the torturous stagflation of the 1970’s, the dotcom bubble, the housing bubble, and today’s financial panic and collapse. Its hand print is on every economic downturn that has robbed American’s of their money for the past 80 years, as the Fed has followed a policy of flooding the economy with their easy money and credit. When everyone is in debt up to their eyeballs, the bubble bursts and is followed by a painful recession or depression. To save us from the total devastation they have created, the Fed then rides to our rescue with its printing press causing excessive inflation and the erosion of the purchasing power of the dollar. These policies have made slaves of us all with the exception of the power elite.

A dollar created during the birth of the Fed in 1913 is now worth about a penny thanks to the policies of the Fed.

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1 Comment

Filed under Economy

One response to “Ron Paul’s Federal Reserve Board Abolition Act

  1. Ron

    Abolish the Federal Reserve Now – Sign & Promote the Petition

    Many investors and concerned citizens around the world are showing their outrage at what the Federal Reserve has done to the American economy with their easy money policies which caused the credit & real estate bubble and subsequent global financial meltdown.

    Join the thousands who are signing & commenting on the Abolish the Federal Reserve Petition at http://www.petitiononline.com/fed/petition.html

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