tagged w/ Federal Reserve Bank
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The Feds okay a request by the LaSt two major U.S. investment banks (Goldman Sachs and Morgan Stanley) to change their status to "bank holding companies".
The Feds okay a request by the LaSt two major U.S. investment banks (Goldman Sachs... more
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Ron Paul discusses the problem and McBama's lack of credible solutions.
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Ron Paul understands the situation. Does McBama?
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Stocks rallied Tuesday as investors focused on the positive implications for the economy in the Federal Reserve's decision to hold interest rates steady, and on diminishing fears about AIG's solvency.
Stocks rallied Tuesday as investors focused on the positive implications for the... more
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Our economic system — the market economy or capitalism — is a system of consumers' supremacy. The customer is sovereign; he is, says a popular slogan, "always right." Businessmen are under the necessity of turning out what the consumers ask for and they must sell their wares at prices which the consumers can afford and are prepared to pay. A business operation is a manifest failure if the proceeds from the sales do not reimburse the businessman for all he has expended in producing the article. Thus the consumers in buying at a definite price determine also the height of the wages that are paid to all those engaged in the industries.
Capitalism has improved the standard of living of the wage earners to an unprecedented extent. The average American family enjoys today amenities of which, only a hundred years ago, not even the richest nabobs dreamed. All this well-being is conditioned by the increase in savings and capital accumulated; without these funds that enable business to make practical use of scientific and technological progress the American worker would not produce more and better things per hour of work than the Asiatic coolies, would not earn more and would, like them, wretchedly live on the verge of starvation. All measures which — like our income and corporation tax system — aim at preventing further capital accumulation or even at capital decumulation are therefore virtually antilabor and antisocial.
One further observation must still be made about this matter of saving and capital formation. The improvement of well-being brought about by capitalism made it possible for the common man to save and thus to become in a modest way himself a capitalist. A considerable part of the capital working in American business is the counterpart of the savings of the masses. Millions of wage earners own saving deposits, bonds, and insurance policies. All these claims are payable in dollars and their worth depends on the soundness of the nation's money. To preserve the dollar's purchasing power is also from this point of view a vital interest of the masses. In order to attain this end, it is not enough to print upon the bank notes the noble maxim In God We Trust. One must adopt an appropriate policy.
Excerpt from 1958 articleOur economic system — the market economy or capitalism — is a system of... more
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When the Republican Party issued a clarion call last week for its grassroots supporters to submit ideas online to build the party's platform, Republican National Committee officials probably weren't expecting a concerted push for the dismantling of the Federal Reserve and a return to the gold standard.
But Ron Paul supporters have made themselves at home on the the GOP platform site, sounding many of the themes that turned the Texas congressman's doomed run for the Republican presidential nod into an internet cause célèbre. When the Republican Party issued a clarion call last week for its grassroots... more
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Here’s a new video from Dr. Paul, telling us about Ben Bernanke’s testimony. How much more interesting Congress is thanks to Ron Paul, the one truth teller. Without him, it’d be a lot of bootlicking questions and waving of incense before the sacred Ben. (And P.S.: Dr. Paul’s book The Revolution: A Manifesto, which explains all these issues in layman’s terms, will move up on the New York Times bestseller list from #23 this Sunday to #17 on the list for July 27.) Here’s a new video from Dr. Paul, telling us about Ben Bernanke’s... more
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This is one of the most important articles I've posted. It ought to get people's blood boiling. There ought to be a mob in the streets with clubs and axes. So much of what is going on in the US has been hidden by the media's inept coverage of non-issues. Read this and spread the message. This is one of the most important articles I've posted. It ought to get... more
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