Thursday, 26 March 2009

Ron Paul's H.R. 1207 (Abolish the Fed) Now Has 44 Co-Sponsors

If you don't see your rep on this list, contact him/her today and urge them to support the bill!

Rep Abercrombie, Neil [D, HI-1]
Rep Alexander, Rodney [R, LA-5]
Rep Bachmann, Michele [R, MN-6]
Rep Bartlett, Roscoe G. [R, MD-6]
Rep Broun, Paul C. [R, GA-10]
Rep Burton, Dan [R, IN-5]
Rep Chaffetz, Jason [R, UT-3]
Rep DeFazio, Peter A. [D, OR-4]
Rep Duncan, John J., Jr. [R, TN-2]
Rep Foxx, Virginia [R, NC-5]
Rep Garrett, Scott [R, NJ-5]
Rep Grayson, Alan [D, FL-8]
Rep Heller, Dean [R, NV-2]
Rep Jones, Walter B., Jr. [R, NC-3]
Rep Kagen, Steve [D, WI-8]
Rep Kingston, Jack [R, GA-1]
Rep Marchant, Kenny [R, TX-24]
Rep McClintock, Tom [R, CA-4]
Rep Petri, Thomas E. [R, WI-6]
Rep Poe, Ted [R, TX-2]
Rep Posey, Bill [R, FL-15]
Rep Price, Tom [R, GA-6]
Rep Rehberg, Denny [R, MT]
Rep Rohrabacher, Dana [R, CA-46]
Rep Stearns, Cliff [R, FL-6]
Rep Taylor, Gene [D, MS-4]
Rep Woolsey, Lynn C. [D, CA-6]
Rep Young, Don [R, AK]
Rep Sessions, Pete [TX-32] - 3/23/2009
Rep Deal, Nathan [GA-9] - 3/23/2009
Rep Franks, Trent [AZ-2] - 3/23/2009

Search on bill HR 1207 for updates:

Remember, the Federal Reserve (a Private Bank) LOANS the banknotes that the Government Treasury issues, AT INTEREST so that more money will be owed than is in circulation. It is the Treasury (Taxpayers) that has to foot the bill. This is a colossal scam especially considering all the Federal Reserve Bailout money that has flooded the ailing markets. Everyday people should not have to pay interest on their own Government's money.

The US Treasury needs to be issuing money directly and The Fed needs to be abolished.

[Posted at the SpookyWeather blog, March 26th, 2009.]


steven andresen said...

I am happy to see my Rep. in Eugene's district, Peter Defazio on this list.

The R's outnumber the D's.

Can you discuss why this might be.

Is it a Republican issue? Are the D's more corporate? Although that doesn't make sense.

Is the Fed issue too 'anti-Obama'?

What insights do you have to have or not have here to support this bill?

SpookyOne said...

There are two reasons why it makes sense that more Republicans are supporting the measure over Democrats at the moment. One reason is due to politics and the other is down to perception of the issue as a Republican issue. Both rely on an increased awareness of the situation- that there might actually be a problem with having a Fed reserve in thefirst place (or at least a reserve operating as it currently does)!!

Firstly, and I think more importantly, the Republicans are in opposition. More of them would be willing to go against the Fed now that Bush is out. The Democrats "own" the crisis now.

There's an element of politics here- blame gaming- even tho the idea of getting rid of the Fed scam is good no matter what. Paul is providing a good ("Republican") vehicle for others to jump onboard.

[I do see arm twisting from the banking lobby that will curtail this move- with more influence verses the Republicans in Congress than Democrats.]

Secondly, as the financial crisis deepens more and more people are coming to understand, via the mainstream media and online, the problems associated with debt and the Federal Reserve scam. Ron Paul's (and other people's) credibility has gone through the roof on this matter as "financial conservatives."

More Republicans than Democrats can identify themselves as financial conservatives.

In Gerneral whereas before the crisis people might scoff at the notion of abolishing the Fed, the lost confidence in this institution has made politicians (from both sides) "brave" enough to listen to "radical" alternatives (alternatives which still made sense before the crisis).

Furthermore, mainstream media economists, typically more right leaning, have changed some of their views as the extreme economic situation reveals the real dangers of debt and scam practices. Once again a right wing influence that helps the Republican politician form a view.

[With regard to the media, the corporate media is controlled but only up to a point - there is less control depending on what is being discussed. You can't easily hide or ridicule everything.]

Questions about Federal Reserve money lending and other unnecessary indulgences are now more acceptable in the media and hence to the public and politicians.

Both Democrats and Republicans can see what has been going on and obvious corruption or wastage, when pointed out, cannot be easily dodged by Any politician.

Look at what happened on the first bailout bill. 1000s of people phoned or wrote in who were against the measure. The Fed situation is not far removed from this in terms of wasting taxpayer money.

I agree you could say abolishing the Fed is a Republican issue, but it makes sense from both sides of politics.

In direct reference to the actions taken here against the Fed being "anti Obama". The answer is yes and no. Yes, because of the overt 2 party left/right system and no because I think this comes down to fact that politics at the very top are all establishment rather than partizan.

Obama like Bush will be backing the Fed along with the Banking lobby. It just happens that Obama is in office at this juncture. Therefore actions here are seen as anti-Obama.

These folks are all beholden to the corporate elite.

On a side note: You can bet that any other measures taken against the banks now will be either extremely weak- having the banks regulate themselves- or be short lived. You could see regulations as a "Democrat" issue here. However, as soon as the crisis is over (which may not happen for a while yet) any New Regulatory Laws will be repealed.

It's good to see a bill seeking to abolish the Fed but it has not yet passed and may well get sidelined. We'll have to wait and see what happens (-- which will reveal much about the arm twisting abilities of the banking lobby. It'll be an insight into the power game.)!