Ron Paul Letter to Fed and IMF

Discussion in 'Politics' started by melbo, Jan 23, 2007.

  1. melbo

    melbo Hunter Gatherer Administrator Founding Member



    Why Does the IMF Prohibit Gold-Backed Currency for its Member States?

    (Congressman Ron Paul sent this letter to both the Treasury and the Federal Reserve Bank in April. 2002 Neither has responded)

    Dear Sirs:

    I am writing regarding Article 4, Section 2b of the International Monetary Fund (IMF)'s Articles of Agreement. As you may be aware, this language prohibits countries who are members of the IMF from linking their currency to gold. Thus, the IMF is forbidding countries suffering from an erratic monetary policy from adopting the most effective means of stabilizing their currency. This policy could delay a country's recovery from an economic crisis and retard economic growth, thus furthering economic and political instability.

    I would greatly appreciate an explanation from both the Treasury and the Federal Reserve of the reasons the United States has continued to acquiesce in this misguided policy. Please contact Mr. Norman Singleton, my legislative director, if you require any further information regarding this request. Thank you for your cooperation in this matter.

    Ron Paul

    U.S. House of Representatives
  2. Ardent Listener

    Ardent Listener Monkey+++

    I bet they just love him at the Treasury Department.[applaud]
  3. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    It's like a slave asking his master why he has to be held captive to work the fields all day.
  4. Tango3

    Tango3 Aimless wanderer

    Question is do you think diebold and their backers would let him win the presidency???Would we ever see so uppity a gentlemen in halls of power?
  5. Blackjack

    Blackjack Monkey+++

    Unfortunately, I don't think tptb would allow this guy in the oval office.
  6. Tango3

    Tango3 Aimless wanderer

    I didn't know how to put that without a visit from you friendly neighborhood watch commander,( careful candidates are protected by the Secretservice too...)
  7. Blackjack

    Blackjack Monkey+++

    You're right.... edited.

    Crazy I feel I have to be careful about that stuff. Not the America I grew up with.... or thought it was.
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