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Showing posts with label Ron Paul. Show all posts
Showing posts with label Ron Paul. Show all posts
Ron Paul Ready To Discuss the Gold Standard
Ron Paul schedules House hearing to push gold standard
Rep. Ron Paul is bringing his fiscal policy darling-the gold standard-to the spotlight in an upcoming congressional hearing. (AP Photo)
Texas congressman and GOP presidential nomination hopeful Ron Paul is:
(a) chairman of the House Financial Services Subcommittee on Domestic Monetary Policy and Technology, and
(b) an outspoken proponent of the gold standard. ...
Ron Paul Scheduling Hearing on Mint Au and Ag - Kitco News
Ron Paul would like to legalize the optional use of silver and gold in the US. He believes that Constitutionally there should be no taxes or confiscation on gold or silver and that the free market should make the choice. (The Fed will fight obviously this, because good sound money always drives out bad and the FRN would be obliterated.)
Disclosure: Ron Paul canvasser, and long both silver and gold, however I am against an IMF or government forced gold standard.
Cotton prices drive up cost of dollar bills. Life imitates LEGO! BWAH!
Please remember - according to "The Bernank" there is NO inflation or dollar debasement! He is NOT printing money. This: http://finviz.com/futures_performance.ashx?v=16 must be entirely caused by the "evil speculators". Bwah ha ha ha haw.
Original Article:
http://chicagobreakingbusiness.com/2011/03/cotton-prices-drive-up-cost-of-dollar-bills.html
Sure, packs of T-shirts and socks are getting expensive because of skyrocketing cotton prices. Guess what else is made of cotton? The dollar bill in your wallet. In 2010, the cost of making one note jumped 50 percent from what it cost the government in 2008.
The government produced 6.4 billion new currency notes last year. Each one cost 9.6 cents to produce, including the cost of paper and printing.
In 2008, it only cost 6.4 cents a note, a tiny bit more than it did in 2007, according to the U.S. Bureau of Engraving and Printing.
With the price of raw cotton at a 140-year high, things could get worse.
It’s unclear for now how much more it might cost the U.S. to make dollar bills. However the U.S. Government Accountability Office said paper costs “are a significant portion of the cost of producing $1 notes, but less than half the total cost.“
Ordinary paper used in newspapers, books and cereal boxes is primarily made of wood pulp. But the paper on which the greenback is printed is composed of 75 percent cotton and 25 percent linen, according to the U.S. Bureau of Engraving and Printing.
The U.S. buys its currency paper from Massachusetts-based Crane & Company. Crane declined to comment on the story, citing the paper product as “strategic material.“
Just last week, the GAO called for replacing the $1 paper bill with a $1 coin, saying that the coins are more durable and do not need to be replaced as often.
The GAO said the switcharoo could potentially save the government approximately $5.5 billion over 30 years, but didn’t provide a breakdown of the cost of paper money.
Original Article:
http://chicagobreakingbusiness.com/2011/03/cotton-prices-drive-up-cost-of-dollar-bills.html
Sure, packs of T-shirts and socks are getting expensive because of skyrocketing cotton prices. Guess what else is made of cotton? The dollar bill in your wallet. In 2010, the cost of making one note jumped 50 percent from what it cost the government in 2008.
The government produced 6.4 billion new currency notes last year. Each one cost 9.6 cents to produce, including the cost of paper and printing.
In 2008, it only cost 6.4 cents a note, a tiny bit more than it did in 2007, according to the U.S. Bureau of Engraving and Printing.
With the price of raw cotton at a 140-year high, things could get worse.
It’s unclear for now how much more it might cost the U.S. to make dollar bills. However the U.S. Government Accountability Office said paper costs “are a significant portion of the cost of producing $1 notes, but less than half the total cost.“
Ordinary paper used in newspapers, books and cereal boxes is primarily made of wood pulp. But the paper on which the greenback is printed is composed of 75 percent cotton and 25 percent linen, according to the U.S. Bureau of Engraving and Printing.
The U.S. buys its currency paper from Massachusetts-based Crane & Company. Crane declined to comment on the story, citing the paper product as “strategic material.“
Just last week, the GAO called for replacing the $1 paper bill with a $1 coin, saying that the coins are more durable and do not need to be replaced as often.
The GAO said the switcharoo could potentially save the government approximately $5.5 billion over 30 years, but didn’t provide a breakdown of the cost of paper money.
Don't buy Gold, Hot Steaming Goat Poo, Booo Ron Paul - Max and Stacey
This time Max Keiser and co-host, Stacy Herbert, talk about China regulating reincarnation and the US Air Force seeking virtual people. In the second half of the show, Max talks to Salon.com blogger, Glenn Greenwald, about the Wikileaks smear campaign and about propaganda from corporate America. http://www.facebook.com/KeiserReport
Wikileaks get stealth attacked by Bank of America
Coming to a Facebook page near you - Government psy-ops posts (really):
Here's comes one now:
Don't Pay Attention to the Gold Bugs
http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2011/02/18/dont-pay-attention-to-the-gold-bugs
Ron Paul Plans on New Initiative to Reign In the FED
(Reuters) - Republican Representative Ron Paul on Thursday said he will push to examine the Federal Reserve's monetary policy decisions if he takes control of the congressional subcommittee that oversees the central bank as expected in January.
"I think they're way too independent. They just shouldn't have this power," Paul, a longtime Fed critic, said in an interview with Reuters. "Up until recently it has been modest but now it's totally out of control."
Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January.
That could create a giant headache for the Fed, which earlier this year fended off an effort headed by Paul to open up its internal deliberations on interest rates and monetary easing to congressional scrutiny.
Paul, who has written a book called "End the Fed," has been a fierce critic of the central bank's efforts to boost the economy through monetary policy.
"It's an outrage, what is happening, and the Congress more or less has not said much about it," he said.
Paul said his subcommittee would also push to examine the country's gold reserves and highlight the views of economists who believe that economic downturns are caused by bad monetary policy, not the vagaries of the free market.
Global organizations like the International Monetary Fund also will come under scrutiny, he said.
"Eventually we're going to have monetary reform. I do not believe the dollar can be the reserve standard of the world," said Paul, who has called for returning the United States to a currency backed by gold or silver.
Many economists say that the Fed's decisive actions during the 2008 financial crisis prevented the deep recession that followed from turning into a depression. But grassroots outrage over the bank bailouts and other Fed actions helped propel many Republican candidates to victory in Tuesday's congressional elections -- including Paul's son, Rand Paul, who will represent Kentucky in the Senate.
"With a lot of new members coming and the problems getting worse rather better, there's going to be a lot more people who are going to be looking for answers," Paul said.
"I think they're way too independent. They just shouldn't have this power," Paul, a longtime Fed critic, said in an interview with Reuters. "Up until recently it has been modest but now it's totally out of control."
Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January.
That could create a giant headache for the Fed, which earlier this year fended off an effort headed by Paul to open up its internal deliberations on interest rates and monetary easing to congressional scrutiny.
Paul, who has written a book called "End the Fed," has been a fierce critic of the central bank's efforts to boost the economy through monetary policy.
"It's an outrage, what is happening, and the Congress more or less has not said much about it," he said.
Paul said his subcommittee would also push to examine the country's gold reserves and highlight the views of economists who believe that economic downturns are caused by bad monetary policy, not the vagaries of the free market.
Global organizations like the International Monetary Fund also will come under scrutiny, he said.
"Eventually we're going to have monetary reform. I do not believe the dollar can be the reserve standard of the world," said Paul, who has called for returning the United States to a currency backed by gold or silver.
Many economists say that the Fed's decisive actions during the 2008 financial crisis prevented the deep recession that followed from turning into a depression. But grassroots outrage over the bank bailouts and other Fed actions helped propel many Republican candidates to victory in Tuesday's congressional elections -- including Paul's son, Rand Paul, who will represent Kentucky in the Senate.
"With a lot of new members coming and the problems getting worse rather better, there's going to be a lot more people who are going to be looking for answers," Paul said.
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