Ron Paul’s Texas Straight Talk 2/15/10: Are US Taxpayers Bailing Out Greece?
http://house.gov/paul
http://CampaignForLiberty.com
Last week we were reminded that ours is not the only country suffering from severe economic turmoil. The Greek government is the latest to come close to default on their massive public debt. Greece has insufficient funds in their treasury to make even the minimum payments that are now coming due. Their debt level is about 120 percent of their gross domestic product and their public sector absorbs what amounts to 40 percent of GDP. Any talk of cutting costs and spending is met with violent protests from the many Greeks heavily dependent on government payments. Mounting fears of default have sent shockwaves through their creditors and all of the eurozone countries.
But there have been statements made by the European Central Bank to calm fears and give assurances that Greece will get the aid it needs. Details of agreements are not forthcoming.
Is it possible that our Federal Reserve has had some hand in bailing out Greece? The fact is, we dont know, and current laws exempt agreements between the Fed and foreign central banks from disclosure or audit.
Greece is only the latest in a series of countries that have faced this type of crisis in recent memory. Not too long ago the same types of fears were mounting about Dubai, and before that, Iceland. Several other countries (Spain, Portugal, Ireland, Latvia) are approaching crisis levels with public debt as well. Many have strong ties to Goldman Sachs and the case could easily be made that default could have serious implications for big US banking cartels. Considering the ties between the Fed and these big banks, it is not outlandish to wonder if the US taxpayer is secretly bailing out the entire world, country by country, even as our real unemployment tops 20 percent. Unless laws are changed to allow a complete and meaningful audit of the Federal Reserve, including its agreements with foreign central banks, we might never know if this is occurring or not.
This global financial crisis is a predictable result of secretive central banking and unsound fiat currency. Governments are entirely committed to this system of fiat money and fractional reserve banking for obvious reasons: it enables them to do what they love most, namely, spend hoards of money with near impunity. Without the limitations of sound money, governments will spend without limit. They will spend money to hire their cronies, pay off special interests, give out favors, create dependence and generally distract from the terrible job they do at their chief mandate, which is to protect the liberties of the people. Fiat money is a blank check to government, which is very dangerous, and we are witnessing the death throes of the system as the bills come due and the underlying capital is squandered away.
Because of our globe-straddling empire and lingering reserve currency status, perhaps no one has a more vested interest in keeping this system cobbled together than our own government and the Federal Reserve. The agreements that Iceland and Dubai and Greece have negotiated can amount to little more than kicking the can down the road, as their overall spending habits remain largely intact, fiat currencies are still legal tender and more debt is issued on top of unsustainable debt. The American people have the right to know if they are going to be the ones holding the bag in the end because the Federal Reserve secretly put them on the hook for it. This knowledge would be a key factor in peacefully dismantling this immoral and unconstitutional system.
Duration : 0:4:1
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i say let the fed …
i say let the fed keep going the fed will destroy it self
Right, tin foil hat …
Right, tin foil hat because he suggests that we shouldn’t allow a banking cartel that obeys no law to rule the earth.
anything is better …
anything is better then the suffocating american jooz media and federal reserve.
“Let me issue and …
“Let me issue and control a Nation’s money and I care not who makes its laws”. – Amsel (Amschel) Bauer Mayer Rothschild, 1838
When will everyone …
When will everyone get off the thinking that banks are very much needed when they have been screwing the common person through out human history?
Banks are bad they have been bad and as long as everyone thinks we still need them then they will continue to keep screwing our children children.
I feel the common person is very capable of taking care of there own money in there own home.
Lol, everthing done …
Lol, everthing done today, is to destroy us tomorrow. Through the handout, mankind will enslave themselves to power, enjoy today, live today, but prepare for the future, and please notice things that gave taken place, have never happened, so the end result could need people to brace for landing, when this machine touches ground.
Same banks are …
Same banks are running the show for both the dollar and euro. They are making money just by printing unbacked currency….there is NO competition.
The banks are …
The banks are destroying the economy on purpose by bailing out Greece to destroy the U.S. economy by design. Keep tabs on the Dollar Index, if the dollar goes down while the Euro goes down then Ron Paul is spot on. If dollar rises while the Euro goes down then nothing to worry about except destroying what little exports we still have to Europe. It will also affect our tourism because a down Euro and up Dollar means it will cost more for Europeans to travel to the U.S. on vacation.
They have an …
They have an interest in fiat currency in general.
@bobloblaw831
You …
@bobloblaw831
You are dumb, you think the owners of the fed care about America. lol. I knew you were dumb when you started out with your typical brainwashed insult. It must take a lot of balls to agree with what ever the news tells you to believe…
You’re just useless fodder helping out the people who could give two about you. That’s a good little sheep. Baaahhhhh. Now shut up and go back to work, you’ve thought enough for today.
Tin Foil Hat Ron …
Tin Foil Hat Ron Paul!!
Maybe if he knew anything about economics, he would know the US Treasury and the Fed would have beneficial interest in the failing of Greece as it destroys the Euro, makes global banks flood back into the US dollar, thereby reducing the cost of raising US public debt.
Whenever you tell …
Whenever you tell people about the federal reserve they just chalk it off as something they don’t have any controlover and don’t seem to want to think about it. Its like they think it runs by magic and government knows best.
@sinitskyd
…
@sinitskyd
hahahahaahahahaah!
@dlucas90 Inflation …
@dlucas90 Inflation is a tax! No taxation without representation!
I just went to a …
I just went to a greek restaurant and ordered some soulvakis and gyros. This is my contribution to bailing out Greece.
That would be nice. …
That would be nice. I’d be happy just to see everyone in America learn how money comes into existence. Then we can just sit back and watch the “elites” get gutted by betrayed citizens.
@dlucas90 What I’m …
@dlucas90 What I’m hoping is that at this point in the awakening that there is a movement just as significant as the movement to make people aware of the elites’ century+old agenda that is being designed to reclaim what the population has been made to believe this nation is founded on-liberty and freedom.
just wondering, …
just wondering, does any one know if RonPaul is the only congresman that does these weekly reports? Do other congress people do the same thing?
I hope people wake up soon.
The truth is simple …
The truth is simple, only the people trying to make the evil seem right, need to use complexity. That’s why no one can understand economists.
@dlucas90 Well put
@dlucas90 Well put
I realize I’m …
I realize I’m preaching to the choir, but………
Central banks + fiat currency = unelected central planners.
Spread the word!
The voice of truth …
The voice of truth and reason speaks again!
Ron Paul for US President 2012!
Now, teach the rest …
Now, teach the rest of the Senators to think rationally, like you do. But teaching/learning will not be enough to solve our problems. Something more meaningful/effective needs to be done.
After Ron Paul is …
After Ron Paul is the president in 2012 the justice department needs to seize the Federal Reserve and put it under the control of the congress were we could have some influence and control on our own money system as opposed to now controlled by unknown private owners.
RON PAUL 2012
RON PAUL 2012