Comments for AOCS Blog http://www.opencurrency.com/blog American Open Currency Standard Blog Mon, 02 Nov 2009 01:45:13 +0000 http://wordpress.org/?v=2.9.1 hourly 1 Comment on Ron Paul: “The Federal Reserve is a Government Unto Itself” by VooDude http://www.opencurrency.com/blog/2009/08/ron-paul-the-federal-reserve-is-a-government-unto-itself/comment-page-1/#comment-14 VooDude Mon, 02 Nov 2009 01:45:13 +0000 http://www.opencurrency.com/blog/?p=3#comment-14 The interviewer is somewhat nieve when talking about Obama's ability to get the major issues handled....one thing he did say to his credit.....' A Bunch of Baloney". The interviewer is somewhat nieve when talking about Obama’s ability to get the major issues handled….one thing he did say to his credit…..’ A Bunch of Baloney”.

]]> Comment on Sad Day For America: H.R. 1207 – Audit the Fed Bill Has Been Gutted by R. Jackson http://www.opencurrency.com/blog/2009/10/sad-day-for-america-h-r-1207-audit-the-fed-bill-has-been-gutted/comment-page-1/#comment-13 R. Jackson Sun, 01 Nov 2009 13:40:37 +0000 http://www.opencurrency.com/blog/?p=28#comment-13 The Secretary of the Treasury, a very senior cabinet position, is appointed by the President and meets with the President in the Oval Office weekly. The governors of the Federal Reserve Board are also appointed by the President. Both cabinet officers and Federal Reserve governors are confirmed by the US Senate. There are supposed to be seven governors; politics has purposefully limited this to five throughout the three-year financial crisis period. The Federal Reserve governors are supposed to serve staggered 14-year terms with all seven seats filled. Instead, we have been governed by the present five member politically configured board. The original seven governor construction was designed to insulate them from political pressure for very good reasons. Decades of monetary history throughout the world have disclosed what happens when political influence on a central bank intensifies. The Weimar Republic and Zimbabwe are evidence of the worst inflationary effects of politics. The Great Depression in the US and the nearly two decade deflationary recession in Japan demonstrate that monetary policy is not only inflation-prone. When central banks are under political influence you can get fire or you can get ice. The Secretary of the Treasury, a very senior cabinet position, is appointed by the President and meets with the President in the Oval Office weekly. The governors of the Federal Reserve Board are also appointed by the President. Both cabinet officers and Federal Reserve governors are confirmed by the US Senate. There are supposed to be seven governors; politics has purposefully limited this to five throughout the three-year financial crisis period.

The Federal Reserve governors are supposed to serve staggered 14-year terms with all seven seats filled. Instead, we have been governed by the present five member politically configured board.

The original seven governor construction was designed to insulate them from political pressure for very good reasons. Decades of monetary history throughout the world have disclosed what happens when political influence on a central bank intensifies. The Weimar Republic and Zimbabwe are evidence of the worst inflationary effects of politics. The Great Depression in the US and the nearly two decade deflationary recession in Japan demonstrate that monetary policy is not only inflation-prone. When central banks are under political influence you can get fire or you can get ice.

]]> Comment on What Is The Fed Hiding? by Dave http://www.opencurrency.com/blog/2009/09/what-is-the-fed-hiding/comment-page-1/#comment-12 Dave Sat, 31 Oct 2009 03:28:38 +0000 http://www.opencurrency.com/blog/?p=23#comment-12 This is not surprising. No one dares expose the FED. Our politicians are all on the take and will do nothing to stop this criminal enterprise. This is not surprising. No one dares expose the FED. Our politicians are all on the take and will do nothing to stop this criminal enterprise.

]]> Comment on Ron Paul: “The Federal Reserve is a Government Unto Itself” by Roy http://www.opencurrency.com/blog/2009/08/ron-paul-the-federal-reserve-is-a-government-unto-itself/comment-page-1/#comment-2 Roy Mon, 21 Sep 2009 18:58:05 +0000 http://www.opencurrency.com/blog/?p=3#comment-2 Thanks for promoting this, I would have missed it! Great interview, on MSNBC no less!!! WOW! Thanks for promoting this, I would have missed it! Great interview, on MSNBC no less!!! WOW!

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