Ron Paul: the Federal Reserve has lost control of interest rates

Today, Campaign for Liberty Chairman Ron Paul issued the following statement in response to the Federal Open Market Committee’s decision to continue its failed bond buying program:

“Chairman Bernanke and the government falsely believe they can single-handedly control interest rates. Yes, there can be some manipulation, but markets are much more powerful.

“The Federal Reserve has lost control of interest rates, and we are seeing the results in higher yields on Treasury notes, likely due to the Federal Reserve’s unprecedented monetary expansion over the past few years. Until our leaders understand that the Federal Reserve’s drastic intervention in the US economy has made our economic problems worse, the American people will continue to suffer high unemployment, rising prices, and now, rising interest rates for years to come.”

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One comment

  1. Is the following writing of interest ???


    The government incurs a trillion dollar increase in the National Debt annually to spend money it does not have so congress-critters can fund pork barrel projects back home and get reelected. Is theft from the public by inflation (to ignore the perpetual interest and a fraudulent debt that can never be paid off) for the “freebies” the end of the scam?? Not hardly.

    For congress to get the book entry money created on the government’s bank account, the Treasury Department must send a Treasury security to the FRBNY. Then the FR will honor checks on the account and the fiat money is added to the economic system (inflation occurs).

    But what happens to the security received by the FRBNY (as collateral for a loan) ?? Why, the bank auctions it off to the Primary Dealers and pretends it has been done by the Treasury Department. The funds go to the FRBNY.

    Approximately $7 trillion of the National Debt is rolled over by auctioned securities annually along with about one trillion dollars of new deficit spending securities. All of the funds are handled exclusively by the FRBNY [confirmed by government and FR websites]. The $7 trillion is credited to government accounts to pay off owners of redeemed securities (as collected by the Primary Dealers with payment to the PDs). There is no inflation or increase in the national debt incurred from the roll over.

    If the one trillion dollars from auctioned deficit spending securities was credited to the government, there would be no inflation or increase in the National Debt. Where does the money go??

    Like the prosecutor says: “Follow the money trail.” Seven trillion dollars goes to the PDs. One more trillion can be added to the cover and never be noticed. The auction accounts reciepts and disbursements have never been audited.

    But if the trillion dollars went to the Primary Dealers, would that be repaying the owners of the Fed (who own and control the BOG) for the “loan” they had given the government so the government could spend the money they did not have?

    That is the scam that was used by the Rothschild family in Europe centuries ago and was resurrected on Jekyll Island in 1912. There is no consideration put up for the pretended “loan.” If consideration (money) had been put up, there would not be an increase in the amount of money in circulation (inflation), The transfer of money to the PDs from the auctioned deficit spending securities is pure profit. It amounts to $4 billion every day—7/52.

    By law, all profit of the Fed belongs to the government. Hiding money that belongs to the government is a crime. The Federal Reserve embezzles one trillion dollars annually from the government. Since 1913, they have embezzled a total of $17 trillion.

    So who will prosecute the Fed ? For an answer to that question, you might ask your congress-critter.

    {It is noted the greenies in your pocket are identified as “Federal Reserve Notes.” They are a debt of the FR. If the FR BOG is a privately held corporation owned by select members of the Primary Dealers, it does not have to expose the corporate status to the SEC. Is the BOG is operating as a government contractor or as a government agency? The question has never been adjudicated, but the “day to day control” the SC has declared determines the status of an agency seems to be lacking. A contract with a private corporation does not involve sovereign immunity. A contract that is impossible to culminate, such as an inability to pay off the National Debt, is a matter of fraud. A contract involving fraud is void from its inception, }
    For an extended analysis, see

    For usage of the embezzled money, see

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