Ron Paul: "Federal Reserve Needs to be Audited and Then Ended as Soon as Possible"

by Ron Paul

The US Constitution never granted the federal government authority to create a central bank. 

The Founders, having lived through hyperinflation themselves, understood that government should never have a printing press at its disposal. But from the very beginning of America’s founding, the desire for a crony central bank was strong.

In fact, two attempts were made at creating a permanent central bank in America prior to the creation of the Fed. Fortunately, the charter for The First Bank was allowed to expire in 1811, and President Andrew Jackson closed down the Second Bank in 1833.

But, unfortunately, a third attempt was successful and the Federal Reserve was unconstitutionally created by Congress in 1913. Americans have been living under a corrupt and immoral monetary system ever since. The Federal Reserve is the printing press that has financed the creation of the largest government to ever exist.

Endless welfare and endless military spending are both made possible by the Federal Reserve. The Fed can just print the money for whatever the US establishment wants, so those of us who long for a Constitutional and limited government have few tools at our disposal.

Despite all the propaganda claiming “independence,” the Fed has always been a deeply political institution. Because the Fed is a government-created monopoly with key government-appointed employees, its so-called “independence” is a mere fiction. However, the US Congress created the Fed with legislation; it can also abolish the Fed with legislation.

Last week, the facade of Federal Reserve “independence” was dealt a severe blow. Ironically, the person who broadcast to the world that the Fed is anything but “independent” was ex-New York Fed President Bill Dudley.

Dudley wrote that, “Trump’s re-election arguably presents a threat to the United States’ and global economy, and if the goal of monetary policy is to achieve the best long-term economic outcome, the Fed’s officials should consider how their decisions would affect the political outcome of 2020.”

The timing of Dudley’s threats to use Fed monetary policy to affect the outcome of a US election couldn’t come at a more striking time.

After all, for more than two solid years Americans have been bombarded with fabricated stories about Russians rigging our elections. And yet here is a Federal Reserve official threatening to do the same exact thing – but this time for real!

Whether it’s the mainstream media, the CIA, the FBI, or now the Federal Reserve, more and more Americans are waking up to the fact that there is a Deep State in America and its interests have nothing to do with American liberty.

In fact, our liberty is what the Deep State wants to abolish.

When it comes to the Federal Reserve, I stand firmly by my conviction that it needs to be audited and then ended as soon as possible.

America’s Founders were not perfect. They were human beings just as capable of error as we are. But they had a remarkable understanding of the ideas of liberty.

They understood that liberty cannot exist with a government that has access to a printing press. Sound money and liberty go hand-in-hand. If we want to enjoy the blessings of Liberty, we must audit and then end the Federal Reserve!

U.S. Religious Groups Generate More Money than Microsoft and Apple Combined

Since the founding of the country, religion of some type has always played an active role in the lives of a majority of Americans.

by Phillip Schneider, Waking Times

Although religious faith is on a long-term downward trend while secularism is on the rise, about 70.6% of Americans still identified as Christian in 2014, while 5.9% had “Non-Christian faiths” such as Judaism or Islam, according to Pew Research Center.

These numbers mean that over one in four Americans believe in some form of non-atheistic religion.

Much research has been done into the community impact of religion. Sometimes, religion is used as an excuse to engage in a number of terrible things such as violent extremism or child abuse.

This is both historically as well as contemporarily true, however there is a great deal of good that religion is a catalyst for as well, such as volunteer work, greater civic engagement, and welfare.

The authors of the study recognize this and understand that “while bad news makes news, both sides are important to understand clearly.”

In a 2016 study entitled “The Socio-economic Contribution of Religion to American Society: An Empirical Analysis”, Melissa and Brian Grim from Georgetown University and the Newseum Institute set out to determine the cost and contribution that religion has for American society.

Under conservative estimates, faith-based organizations were found to generate roughly $378 billion per year. Being more than a third of a trillion dollars, that number actually accounts for more than the global revenue of both Apple and Microsoft combined.

When including businesses with religious roots, the number increases to roughly $1.2 trillion annually, while more liberal estimations which also include household incomes of religiously affiliated Americans put the total annual revenue of religious-based organizations at approximately $4.8 trillion, which is about a third of America’s Gross Domestic Product (GDP).

“We believe that our second estimate of $1.2 trillion is more reasonable as it takes into account the value of the services provided by religious organizations and the impact religion has on a number of important American businesses,” say the authors.

Although, assets of religious groups were still not taken into account for this measurement.

After conducting their analysis, the study authors found that combined revenue from the country’s five largest religiously affiliated charities adds up to just under $38 billion.

These include the Lutheran Services in America, Young Men’s Christian Association (YMCA), Catholic Charities, Salvation Army, and Habitat for Humanity.

However, religion is also quickly becoming one of the nation’s largest tax-free industries as reports have estimated that Christian media alone accounts for about $3.6 – $6.8 billion conservatively.

“In 2003, research estimates put the market for religious publishing and products at $6.8 billion and growing at a rate of nearly 5 percent annually. This market is subdivided into three categories: books (the largest segment, with $3.5 billion in sales and a 7 percent growth rate); stationary/ giftware/ merchandise (sales at $1.4 billion and a 4.5 percent growth rate); and audio/ video/ software ($1.4 billion in sales and flat).”

According to Statista, the sales revenue of religious books peaked at over $17 billion in 2007 before dropping to $10.73 billion by 2017, making previous estimations of $3.5 billion pale in comparison.

After putting all of the data together, the study authors concluded that under the most conservative possible estimate, religion’s $378 billion annual contribution can be broken up into five categories: healthcare ($161 billion), local congregational activities ($83.8 billion), education (such as catholic schools, $74 billion), charities ($44.3 billion), media ($0.9 billion), and food ($14.4 billion).

The study authors also conclude that local religious congregations “provide a significant level of community and social services beyond those provided through religious organizations set up to specifically provide health care, education and charity.”

Religion is clearly a very prominent and influential segment of our American life and economy.

As it does commit a great number of Americans to do good things for others, there is also a danger that it will increasingly become a tax-free media/ outreach business model, rather than a faith and charity model where it would be able to do the most good.

Related: The Catholic Church is the Biggest Financial Power on Earth

Colorado is Using $3 Million From Marijuana Tax to Provide Food and Housing for the Homeless

The debate about the legalization of marijuana has been prevalent in North American culture for over 50 years. The decision by the state of Colorado in October 2014 to legalize marijuana for recreational use was seen a revolutionary by those on both sides of the divide.

Colorado and Marijuana

Since that decision was made nearly four years ago, the state of Colorado has seen an increase year on year in tax revenue gained from cannabis sales. In the most recent financial year, ending in June 2016, the state made nearly $70 million.

Revenue gained through taxation was one of the key arguments for legalizing weed. Now that this argument has been clearly validated many taxpayers have been wondering what the state will do with the additional money.

The answer in one city is almost as revolutionary as the passing of the law itself. Aurora, the third largest city in Colorado, will be using over a third of the $4.5 million gained through the ‘weed tax’ to support local not-for-profit homeless organizations.

Over the course of the next three years, a total of over $3 million will be given to a series of groups across the city, all of which work tirelessly to provide hostels and food for the homeless community.

The money will be paid out over the next three years, with $1.5 million promised before the end of the current financial year, which ends in June 2017.

Marijuana’s Positive Impact on Society

The decision, which was approved in May 2016, has been lauded the world over as an example of how the legalization of marijuana can benefit, rather than damage, the local community. City Councilman Bob Roth believes it shows the people of Aurora the influence that local government can have.

‘We wanted to be able to show citizens that we are having a positive impact on the community and point to specific projects or initiatives to where that money is going to.’

With over 1000 homeless people on the streets of Aurora, this powerful example of local government working hard for the most vulnerable members of society will have a quantifiable and positive impact on the lives of people across the city.

Thus far not all of the money has been pledged to specific projects as the city is still working on the full list of projects that they wish to back.

However, $220,000 has been given to the Colfax Community Network to support their operating costs. The money ensures that Colfax can continue their critical work, with further funds likely to be sent their way over the next two years.

Finding Homes for the Homeless

Additionally, money has also been given to Comitis Crisis Center and Aurora Mental Health for each organization to buy a van and hire two care workers. This decision allows them to access homeless individuals who can’t reach their walk-in centers because of lack of funds for public transport.

One Aurora Housing Association will receive $45,000 to pay the salary of their landlord coordinator to allow them to work the role full-time. The job is vital to ensure the cycle of homelessness doesn’t continue, as landlords will often reject the applications of the formerly homeless.

Alongside, these confirmed financial pledges the city is considering building and staffing a series of day centers across the city for homeless people to wash their clothes, receive mental health support and shower.

The legalization of marijuana is undoubtedly a contentious issue. However, the positive use of the money made from it in Aurora is evidence of the good that it can do.

The homeless community is often looked upon as an unwanted subcategory of people by society, a subcategory that is undeserving of empathy, a subcategory that is deservedly shunned and a subcategory that exists because of drugs.

The city of Aurora is using the money made from selling drugs to give basic rights back to the homeless population of the city and prove just how undeserving of such treatment these people truly are.

By The Hearty Soul

Rothschild Just Dumped Massive Amounts of US Assets — U.S. Capital Markets Are 'Risky'

In what is a sure signal to oligarchs across the globe, Lord Jacob Rothschild, founder and chairman of RIT Capital Partners, has substantially minimized his exposure to what he views as a risky and unstable U.S. capital market.

In the half-yearly financial report for RIT Capital Partners, Rothschild explained the company’s aggressive moves to significantly reduce exposure to U.S. assets.

“We do not believe this is an appropriate time to add to risk. Share prices have in many cases risen to unprecedented levels at a time when economic growth is by no means assured,” Rothschild said in his semi-annual report.

Additionally, Rothschild stated that he believes quantitative easing (QE) programs employed by central banks, such as the Federal Reserve Bank in the U.S. will “come to an end.”

Rothschild was quoted in the report as saying, “The period of monetary accommodation may well be coming to an end.”

Signaling a potential disaster in the making in the United States financial markets, Rothschild reduced the investments RIT Capital Partners has in the U.S. dollar by nearly fifty percent. On December 31, 2016, RIT Capital Partners reported a 62 percent net value asset investment in U.S. dollars.

In the latest report released by RIT Capital Partners on June 30, 2017, the company has a 37 percent net value asset investment in U.S. dollars.

Over that same period of time, Rothschild increased RIT’s investment in Sterling and the Euro.

Just last year, the bond manager of what was once the world’s largest bond fund had a dire prediction about how “all of this” will all end. And by “all of this,” he means the propping up of financial markets by central banks.

Gross: Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode one day

— Janus Henderson U.S. (@JHIAdvisorsUS) June 9, 2016

When the U.S. stock market is trading at all-time highs, but Lord Rothschild is divesting RIT from those same markets, the central bank manipulation of market valuations becomes apparent.

Additionally, it’s worth noting that Rothschild’s RIT investment portfolio has returned roughly 2,000% since its formation – so he obviously understands how to position his assets to get big returns on investments, thus these recent moves should be a red flag to every American.

In explaining his recent investment moves, Rothschild, the RIT chairman stated:

“We have a particular interest in investments which will benefit from the impact of new technologies, and Far Eastern markets, influenced by the growing demand from Asian consumers.”

The report also noted that RIT had invested in Social Capital, a tech investment firm based in Silicon Valley, and that Francesco Goedhuis, Chief Executive of J. Rothschild Capital Management, will serve on the company’s advisory board. Social Capital provides seed funding for companies in the education, finance, and health care business sectors.

Rothschild also mentioned the advent of a fourth industrial revolution in the RIT Capital Partners report, noting: 

“As the ‘Fourth Industrial Revolution’ develops, it becomes increasingly important for your Company to be able to assess investment opportunities in the innovation driven changes which are affecting almost every business sector.”

The fourth industrial revolution will be driven by new technologies that work to integrate the digital, biological, and physical worlds. Rothschild indicated in the report that the fourth industrial revolution was a driving factor in his investment in Social Capital.

The latest report is simply a continuation of a narrative that was clearly seen in Rothschild’s last half-yearly RIT report when he stated:

"The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world. We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30% of global government debt at negative yields, combined with quantitative easing on a massive scale.

"To date, at least in stock market terms, the policy has been successful with markets near their highs, while volatility on the whole has remained low. Nearly all classes of investment have been boosted by the rising monetary tide. Meanwhile, growth remains anaemic, with weak demand and deflation in many parts of the developed world.

"Many of the risks which I underlined in my 2015 statement remain; indeed the geo-political situation has deteriorated with the UK having voted to leave the European Union, the presidential election in the US in November is likely to be unusually fraught, while the situation in China remains opaque and the slowing down of economic growth will surely lead to problems. Conflict in the Middle East continues and is unlikely to be resolved for many years. We have already felt the consequences of this in France, Germany and the USA in terrorist attacks."

With global yields at their lowest in recorded history, and with $10 trillion of neg. rate bonds, there is likely only one way that this ends – with a massive global financial collapse, the likes of which would make the Great Depression look like the “good old days.”

Make no mistake that when Lord Rothschild begins to move his assets out of the U.S., it is surely a sign of ominous things on the horizon.




Source: TheFreeThoughtProject.com / References: YouTube.com;