REFERENCE LINK: http://tenthamendmentcenter.com/2009/09/24/the-federal-reserve-vs-the-constitution/?doing_wp_cron=1472049811.5825450420379638671875
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Gotta love this guy - a Libertarian who fought for 16 years in the belly-of-the-beast, the US House of Representatives.  Doctor, author, alternative-media pioneer, Senior Fellow at the Mises Institute,  he has been the face of Libertarianism in the United States - his participation in a number of Republican Presidential Candidate races, was meant to give voice to his ideas and ideals, which are shared by a growing number of the American people.

Ron brought well-spoken and well-considered criticisms of The Federal Reserve, the military-industrial complex, and the War on Drugs.   At a hearing of the House Financial Services Committee, February 15, 2007,  Ron demanded the following of the Federal Reserve:

<blockquote>

- Begin publishing the M3 statistics again. Let us see the numbers that most accurately reveal how much new money the Fed is pumping into the world economy.

- Tell us exactly what the President’s Working Group on Financial Markets does and why.

- Explain how interest rates are set. Conservatives profess to support free markets, without wage and price controls. Yet the most important price of all, the price of money as determined by interest rates, is set arbitrarily in secret by the Fed rather than by markets! Why is this policy written in stone? Why is there no congressional input at least?

</blockquote>

These demands should be repeated daily by all members of Congress, not left to a few lone voices like Ron.  On that day, another demand was made:

- Change legal tender laws to allow constitutional legal tender (commodity money) to compete domestically with the dollar.

To me this means BITCOIN - the mining process, the by-design scarcity, and the difficulty in destroying them, makes it very much so, and it is READY TO COMPETE with the too-easily created, near-meaningless greenback.

Another thing mentioned at that Financial Services Committee meeting was the fact that the Gross Domestic Product was a false number, due to the inclusion of government spending, which we all know is purchased by dollars from the Federal Reserve, created out of thin-air.  If the US government reports a 'healthy amount of growth' in GDP, one must look at this number as highly-suspect, and reveals a very deeply woven-in relationship between Wall Street, government and the Central Bank, which creates an extremely dangerous artificiality upon which much of the economic system depends - a popular mythology, upon which castles made-of-sand are being built.

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<h2>Real GDP</h2>
<blockquote>
GDP purportedly is now growing at 3.5%, and everyone seems pleased. What we fail to understand is how much government entitlement spending contributes to the increase in the GDP. Rebuilding infrastructure destroyed by hurricanes, which simply gets us back to even, is considered part of GDP growth. Wall Street profits and salaries, pumped up by the Fed’s increase in money, also contribute to GDP statistical growth. Just buying military weapons that contribute nothing to the well being of our citizens, sending money down a rat hole, contributes to GDP growth! Simple price increases caused by Fed monetary inflation contribute to nominal GDP growth. None of these factors represent any kind of real increases in economic output. So we should not carelessly cite misleading GDP figures which don’t truly reflect what is happening in the economy. Bogus GDP figures explain in part why so many people are feeling squeezed despite our supposedly booming economy.
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<strong>Just felt like giving some love to Ron this morning ..</strong>

Check out a couple of his great books - serious work, not just vacuous political opportunism that we suffer from the current crop of candidates !


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