Ron Paul: What we need is more WikiLeaks

Popular Texas Republican Congressman Ron Paul is no stranger to breaking with his party, but in a recent television appearance the libertarian-leaning Rep. went even further than any member of Congress in defending whistleblower website WikiLeaks.

Speaking to Fox Business host Judge Napolitano on Thursday about recent revelations at the Federal Reserve, Paul’s typical candor showed through.

“What we need is more WikiLeaks about the Federal Reserve,” he said. “Can you imagine what it’d be like if we had every conversation in the last 10 years with our Federal Reserve people, the Federal Reserve chairman, with all the central bankers of the world and every agreement or quid-pro-quo they have? It would be massive. People would be so outraged.”

Paul, a longtime critic of the US Federal Reserve, is the incoming chairman of a House subcommittee on monetary policy. His most recent book, titled “End the Fed,” takes aim at central banks the world over, blaming fiat money systems and fractional reserve banking for the world’s increasingly volatile economies.

“In a free society we’re supposed to know the truth,” Paul insisted. “In a society where truth becomes treason, then we’re in big trouble. And now, people who are revealing the truth are getting into trouble for it.

via Rawstory

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Federal Reserve And More Damage

The rising price of crude oil sets off warning signals for Russ Newell Jr.’s heating customers.

They know it translates to higher fuel oil prices.

“People on fixed incomes call to check. They are worried,” said Mr. Newell, vice president of Newell Fuel Service in Trucksville. “I didn’t really expect it to be up this high already. It’s not good.”

Average home heating oil prices in Pennsylvania have advanced 4 percent in the last month, according to the U.S. Department of Energy, and prices are up 10.3 percent over last November.

“Since the middle of the summer it, it’s been edging up,” said Ken Santarelli, manager of Santarelli & Sons Oil, Peckville, a fuel oil distributor.

Volatility in the market has contributed to recent price spikes, Mr. Santarelli said.

“We just went up 10 cents a gallon today,” he said on Monday.

Crude oil prices have jumped 26 percent since late June, and the dollar has lost about 8 percent of its value against other major currencies since the end of August, helping to fuel higher oil prices.

The Federal Reserve’s plan to buy up to $600 billion of long-term Treasury Department debt to shore up the economy ignited fears of rising inflation and a continued advance in oil prices.

The Federal Reserve is now doing more damage to the people they claim they are trying to help. The value of the dollar decreases, oil and gold prices sky rocket. You can not make money out of thin air. Please stop the insanity.

via times-tribune