Tuesday, April 19, 2011

Ron Paul Reveals the Truth about the Budget Debate and the Federal Reserve

By Kenneth Schortgen Jr

Ron Paul on April 19th revealed the underlying truth about the budget debate raging between Congress and the White House, and the fact that not matter what is passed by law, the results are meaningless unless federal reserve control over the monetary system is addressed.

Currently, the United States government borrows nearly half of the money used for their yearly budget, and that money is borrowed from US treasury sales made to the Federal Reserve. So in essence, the Federal Reserve has immense power and control over not just the monetary system, but over the government as well since a large portion of tax receipts taken in by the Treasury go towards the payment of debt and interest to the private bank.

What is also not mentioned in the budget debate, is that borrowing made to fight overseas conflicts is not counted in any budget bills, and is relegated as additional expenditures that must be borrowed on top of any deficits created in a yearly budget.

Read the rest here.

1 comment:

  1. Bah Bah, go the sheople.

    This analysis is exactly right.

    But Americans are so dumb and fat as a majority, that they just want their handouts from the likes of Obama.

    The US will see riots. Heck, remember the riots in LA over something as trivial as Rodney?