Ron Paul may have snuck into the Peter G. Peterson Foundation and slipped on a Bill Clinton mask in the style of Mission Impossible for about 3 seconds:
Ever since we went off the gold standard, which was necessary for economic management purposes, if you look at it, we had a global financial economy, before we had a global trade economy and certainly before we had any global environmental and labor safe guards. And, ever since then, economic inequality has increased.
Mr. Clinton sounds like he agrees that the gold standard was necessary to maintain economic equality in America. But what economic purpose, other than the funding of wars and ponzi schemes like social security, made it necessary for President Nixon to take us off of the gold standard? Mr. Nixon took the easy way out when he depegged the US dollar from gold because it was politically expedient, and 40 years later, we are feeling the implications.
It is difficult to see how continuing fractional reserve lending practices and monetary expansion which goes through a “clearing house” will ever bring economic, and thus social, equality back. The average American, in real terms, gets poorer every year not only because of the banks that lend us money at exorbitant interest rates, but because of the government and Federal Reserve that make the inequality possible in the first place.
Yes, we can blame banking institutions like Goldman Sachs and JP Morgan for manipulating stock markets, commodity price fixing, and defrauding investors by selling worthless investments. There should be not only civil repercussions for these firms, but criminal charges should be filed against those involved in fraudulent activity and theft. The banks are not as innocent as some Republican officials and talk show hosts make them out to be. And while Mr. Obama’s Justice Department may have timed recent legal action against Goldman to divert attention from other problems, we fully support such enforcement of the law – if only it wasn’t such a thinly veiled attempt.
It’s obvious that what President Obama and Mr. Clinton are attempting to do is deflect blame from this economic crisis away from their beloved government machine. The US government, in this regard, is no better than the banks that attempt to stealthily steal from unsuspecting investors. Is it not fraudulent for the United States government to promise citizens a retirement package in the form of social security, the investment capital for which they seize by force, only to devalue retiree payments through monetary expansion and inflation? This is theft, any way you slice it, because those in charge of the policies, both legislative and monetary, are fully aware of what they are doing to people.
As we and others have discussed over the last year, government officials – those who were directly responsible for this crisis – will now shift blame wherever they can. The bankers and the Tea parties are the targets of blame and divisiveness today, but make no mistake, when our elected officials and their appointees come under more pressure, and that blame game doesn’t work anymore, they will shift their sites on foreign nations. They will take this country to war and send thousands of our citizens to their deaths rather than admit fault and risk losing their grip on power.
Watch Bill Clinton discuss the economy, gold, Goldman and Himself:
In his final comments Mr. Clinton says there was “no underlying merit to the transaction”, therefore alluding to the need for further regulation. Do we really want the Government deciding which financial transactions are meritorious and necessary for the U.S. economy? This may sound well and good as it related to the “too big to fail” types, however they are well protected/represented by the supposed regulators and all we will see is a further clampdown on the little guy; small business and the individual investor, and a further erosion of our Constitutional rights to privacy and property. Leaving the gold standard was never necessary for economic management purposes. It WAS necessary for economic terrorism/treason against several generations of American citizens.
To Bill Clinton, how is that low cost mortgage home ownership scam for welfare recipients working out for ya?
Those that refuse to work deserve nothing.ÂÂ
It is not my responsibility feed, clothe and pay medical and education to anyone except myself and my family.
Stop spending other peoples money and end all forms of entitlements, to people, corporations, banks, foreign nations.
B.O., the much heralded genius, is unhappy that young people today are getting unfiltered news from playstations.  E-Pants-Ipation
What’s next? Government rebate coupons for $40 for each $40 LED lightbulb from China? China made billions off the DTV tuner coupon scam, time for more taxpayer money to keep the Chinese working.
OBTW, thank you US government for the Mercury that escaped into my home the day that Chinese CFL lightbulb broke.
B.O., what is up with choosing two lesbians to the highest court in the land? What’s next, an illegal alien transvestite? Jeepers
Let us never forget that as President Bill Clinton was directly responsible for the deaths of over 100 United States citizens at the illegal U.S. government seige at Waco Texas.  ÂÂ
Numerous innocent women and children were burned alive because of the actions approved by Clinton.
As a consequence of the illegal U.S. government actions at Waco Bill Clinton is also indirectly responsible for the all of lives Timothy McVeigh took at the Murrah building in Oklahoma City.   ÂÂ
This was Tim’s idea of punishment of the federal government for the crimes committed at Waco by the Clinton administration.  ÂÂ
Enjoy your life on Earth Bill.  Hell awaits your dying day.ÂÂ
Oh Willy, I know what you can do with that cigar! Your just blowing smoke!
The underlying “merit” Bill, was for Goldman and Paulson to make money. If you make cheeseburgers, Bill, the idea is to sell as many cheeseburgers as you can. That’s capitalism. Unfettered capitalism when you are taxpayer money without their permission to gamble. If we were on a “Gold” standard, Bill, if gold and silver were a wealth currency, Wall Street Banksters would be actively manipulating the price of Gold and Silver too.
Oh yeah, they were. And are.