“I strongly support liquidating the corporation that is the FederalReserve and returning to a monetary system based on a marketproducedprecious metal, like gold, which is represented by a currencyprinted and managed by the U.S. Treasury Department as stipulatedby our Constitution. The assets currently owned by the Fed shouldbe liquidated and parceled out on a pro-rata basis to its creditors. All we need is the will.”

“Bankruptcy cleans out the system. What’s wrong with that? SouthKorea went through this in the late 1990s. They didn’t have anyoneto bail them out, and they had to go through the pain. Sweden didit in the early 1990s. Mexico did it. Russia did it. The list goes onand on. Competent people take over the assets from incompetentpeople and rebuild from a solid base. Business has always been survivalof the fittest and Darwinism at its best. After all, this is what capitalismis all about.”

“Did anyone of those bullish investors ever think what would happen to the Treasury market if the Fed ever became a net seller of bonds?”

“I do not believe in supporting bailouts without strongramifications. It is a fool’s fantasy to think we can live in a globallyconnected economy and never have a situation arise where the governmentprudently steps in to prevent a failure that might lead tocatastrophic ramifications. In most cases, I believe it would be muchbetter to let bailed-out companies fail when they have mismanagedthemselves, rather than waste taxpayer money propping up greedyidiots who are trying to salvage their own bonuses; however, thereare exceptions to almost every rule. The wiser course would be topenalize the CEO or board of directors who drove the companyto the brink of failure. The most obvious punishment would be theelimination of any “golden parachutes” or bonuses for the executiveand seizure of all company-derived assets, including any attempts tohide company assets in the spouse’s name. When C-level executivescome to the realization that managing a company is not a game andthat there are serious consequences for their actions, we will see fewerinstances of requests for bailouts.”

“Almost every Fed chairman in the past 60 years has manipulatedinterest rates to brighten the economic outlook for incumbent presidentsor newly elected presidents who won by large margins. Thepurchasing power of the U.S. dollar has fallen 94 percent in the past100 years. The only way you can create inflation is by creating moremoney that is backed by the same reserve assets; the Fed is the onlyentity that can create more money. Ben Bernanke’s quantitative easing(QE) programs have pumped billions of unfunded dollars into theeconomy, thereby setting us up for massive inflation in the very nearfuture. If this isn’t a form of financial terrorism, it is incompetence of the highest order.”

“Funny how the U.S. sends in the military to fight “terrorists” in any country which has resources it wants....”

“We live in a society that is based on 30-second sound bites. We havetechnology that puts all of the information of humankind at our fingertips,but we have the attention span of a three-year-old at a carnivalmidway on the Fourth of July. We throw around a lot of words likedemocracy, federal, republic, nationalist, socialist, liberal, and right-wing—butdo we really know what they mean?”