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CNN wrote:The controversial newsletters include rants against the Israeli lobby, gays, AIDS victims and Martin Luther King Jr. -- described as a "pro-Communist philanderer." One newsletter, from June 1992, right after the LA riots, says "order was only restored in L.A. when it came time for the blacks to pick up their welfare checks."

Another says, "The criminals who terrorize our cities -- in riots and on every non-riot day -- are not exclusively young black males, but they largely are. As children, they are trained to hate whites, to believe that white oppression is responsible for all black ills, to 'fight the power,' to steal and loot as much money from the white enemy as possible."

In some excerpts, the reader may be led to believe the words are indeed from Paul, a resident of Lake Jackson, Texas. In the "Ron Paul Political Report" from October 1992, the writer describes carjacking as the "hip-hop thing to do among the urban youth who play unsuspecting whites like pianos."

The author then offers advice from others on how to avoid being carjacked, including "an ex-cop I know," and says, "I frankly don't know what to make of such advice, but even in my little town of Lake Jackson, Texas, I've urged everyone in my family to know how to use a gun in self defense. For the animals are coming."

Ron Paul wrote:A bloo bloo bloo. A bloo bloo blaa bloo

Jim Rogers: 'Abolish the Fed'

Federal Reserve Chairman Ben Bernanke should resign and the Fed should be abolished as a way to boost the falling dollar and speed up the recovery of the U.S. economy, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe Wednesday.

Asked what he would do if he were in Bernanke's shoes, Rogers, who slammed the Fed for pouring liquidity in the system and accepting mortgage-backed securities as guarantees, said: "I would abolish the Federal Reserve and I would resign."

If this happened, "we don't have anybody printing money, we don't have inflation in the land, we don't have a collapsing U.S. dollar," he told "Squawk Box Europe."...

"No country in the world has ever succeeded by debasing its currency," he said. "That's what this man is trying to do. He's trying to debase the currency as a way to revive America. It has never worked in the long term or the medium term."

"Listen, investment banks have been going bankrupt since the beginning of time. If people make mistakes -- if you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich," he said.

http://www.cnbc.com/id/23588079

Investing legend Jim Rogers smacks down globalist shill Maria Bartiromo on CNBC today, calls for the abolishment of the Fed, and lambastes Bernanke's plan to become the buyer of last resort for all the toxic mortgages.

Watch it:

http://video.google.com/videoplay?docid ... 6642&hl=en

Rick Reuben wrote:a bunch of bullshit

Briefing by White House Advisers, Press Secretary Perino, March 7, 2008 wrote:MS. PERINO: Where did we leave off? Or do you want to move on to other subjects?

Q: I'd like to follow up on their refusal to talk about the dollar, if I could. I mean, we're in a kind of a bad situation here, when OPEC says the reason for $105 or $106 a barrel of oil is the falling value of the dollar -- and you won't address that issue. Where do we go to find out who is right?

MS. PERINO: Well, as he just said, the Treasury Secretary is where you go to talk about the dollar. It's a longstanding policy that predates this administration, and I'm not going to change it today. But Treasury can talk about it.

Q: I don't expect you to change it, but I do expect you to be able to say whether OPEC is completely wrong about this, or whether there is at least something to their claim that the dollar is responsible for the high price of oil right now.

MS. PERINO: Wendell, I'm under strict instructions, and have been from the beginning, to not talk about the dollar, and I'm not going to get fired to satisfy your question.(Laughter.)

Feldstein Says U.S. Economy Is in a Recession That May Be Worst Since WWII

By Matthew Leising and Steve Matthews

March 14 (Bloomberg) -- Harvard University economist Martin Feldstein, a member of the group that dates business cycles in the U.S., said the nation has entered a recession that could be the worst since World War
II.
...

http://www.bloomberg.com/apps/news?pid= ... refer=home

Fed Invokes Little-Used Authority to Aid Bear Stearns

By Scott Lanman

March 14 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke invoked a law last used four decades ago to keep Bear Stearns Cos. from collapsing after the securities firm sought emergency funding from the central bank.
...
http://www.bloomberg.com/apps/news?pid= ... refer=home

Sect. of Treasury Paulson on Financial Markets

CQ Transcripts
Monday, March 17, 2008; 3:09 PM

SECRETARY OF TREASURY HENRY M. PAULSON: Good afternoon, everyone.

Transcript: Sect. of Treasury Paulson on Financial Markets

We had a good meeting of the President's Working Group on Financial Markets with the president. We gave him an update on what's happening in the markets this morning. He was well aware of the actions that took place over the weekend because I had a couple conversations with him and (inaudible) as we went along here.

We talked about the markets, emphasized the priority of the orderly function of our capital markets, talked about the strength of our financial institutions. And he was, I think, generally quite pleased with the actions that were taken, as are we, given the way the markets are preforming today.

http://www.washingtonpost.com/wp-dyn/co ... 01528.html

'Strong Dollar' Hides Weak Policy wrote:...It started with a paper written by former Treasury secretary Lawrence Summers entitled Gibson's Paradox and the Gold Standard, which stated 'gold prices in a free market should move inversely to real interest rates.'" In other words, Murphy explains, "what has been happening is that a policy to hold down the dollar price of gold was instituted to keep the dollar strong. The idea was to hide inflation, keep interest rates low and attract money to U.S. markets. This kept the average investor from getting any hint that something was wrong with the dollar itself. The strong-dollar policy amounts to little more than secretly using U.S. bullion and claims on it to manipulate the gold market. By keeping the gold price down, keeping it low, they made even gold uncompetitive to the dollar, reassuring the world that all was well."

http://www.gata.org/node/4192

What the Price of Gold Is Telling Us
by Ron Paul
March 15, 2008

http://www.lewrockwell.com/paul/paul445.html

Paul Craig Roberts wrote:Watching the Dollar Die

13/03/08 "ICH " -- - I’ve been watching the dollar die all my life. I sometimes think I will outlast it.

When I was a young man, gold was $35 an ounce. Today one ounce gold bullion coins, such as the Canadian Maple Leaf, cost more than $1,000.

Our coinage was silver. Our dimes, quarters, and half dollars had purchasing power. Even the nickel could purchase a candy bar, ice cream cone or soft drink, and a penny could purchase bubble gum or hard candy. If a kid could collect 5 discarded soft drink bottles from a construction site, the 2 cents deposit on the returnable bottles was enough for the Saturday afternoon movie. Gasoline was 32 cents a gallon. A dollar’s worth was enough for a Saturday night date.

Our silver coinage was 90% silver. People sometimes melted coins in order to make silver spoons, known as coin silver, which can still be found in antique shops. Except for the reduced silver (40%) Kennedy half dollar which continued until 1970, 1964 was the last year of America’s silver coinage. The copper penny departed in 1982. As Assistant Secretary of the Treasury, I opposed the demise of America’s last commodity money, but I couldn’t prevent the copper penny’s death.

During World War II (1941-1945), nickel was diverted from coinage to war, and the US mint issued a wartime silver (35%) nickel.

It is not easy to find items to purchase with today’s US coins, but the silver coins of the same face value still have purchasing power. The 10 cent piece of my youth contains $1.42 worth of silver at today’s silver price. The quarter is worth $3.55, and the half dollar contains $7.10 of silver. The silver dollar is worth 15.2 times its face value. These are just the silver values of coins that might be worth far more depending on condition and rarity. The silver in the wartime nickel is worth $1.10, which is 22 times the coin’s face value. Even the copper penny is worth 2.5 cents.

When I was a young man enjoying travels in Europe, the German mark or Swiss franc traded four to one US dollar. The euro, which is today’s equivalent to the mark or franc, costs $1.55.

People who haven’t accumulated much age have little idea of the corrosive power of “acceptable” inflation. Unlike gold and silver, fiat money has no intrinsic value. When money is created faster than goods and services it drives up prices, thus driving down the value of the money. If freely traded currencies are excessively printed or if inflation, budget deficits, and trade deficits drive currencies off their fixed exchange rates, prices of imports rise as the foreign exchange value of the currency falls.

Today the US, heavily dependent on imports, is subject to double-barrel inflation from both domestic money creation and decline in the dollar’s foreign exchange value.

The US inflation rate is about twice as high as the government’s inflation measures report. In order to hold down Social Security payments, the government changed the way it measures inflation. In the old measure, inflation measured the nominal cost of a defined standard of living. If the price of steak rose, up went the inflation rate. Today if the price of steak rises, the government assumes that people switch to hamburger. Inflation doesn’t go up. Instead, the standard of living it measures goes down.

This is just one of the many ways that the government pulls the wool over our eyes.

With the dollar value of the euro rising through the roof, today a vacation in Europe is far more costly than in the past. Thanks to China, so far Americans have been sheltered from the greatest effects of the dollar’s declining value. Our greatest trade deficit is with China. The prices of the goods from China have not risen, because China keeps its currency pegged to the dollar. As the dollar goes down, China’s currency goes with it, thus holding down price rises.

The resignation of Admiral William Fallon as US military commander in the Middle East probably signals a Bush Regime attack on Iran. Fallon said that there would be no US attack on Iran on his watch. As there was no reason for Fallon to resign, it is not farfetched to conclude that Bush has removed an obstacle to war with Iran.


The US is already over stretched both militarily and economically. An attack on Iran is likely to be the straw that breaks the camel’s back.

Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President Francois Mitterrand.

http://www.321gold.com/editorials/rober ... 31708.html

Robert H. Hemphill, Credit Manager of the Federal Reserve Bank, Atlanta, GA wrote:We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is.