Last night Bill Maher mentioned Ron Paul's bill in Congress to audit the Fed, and his guest Niall Ferguson, the false revisionist historian, began a tirade against the argument to open the books at the Federal Reserve. He immediately falsified the intent of the bill which is supported by 75% of the American people and sponsored by more than 250 congressmen, saying that it would give Congress control over monetary policy. The 1207 bill only sheds lights on the Fed's dirt, and proposes nothing policy wise. It is merely a baby step, however, I don't see a problem with Congress deciding monetary policy and issuing currency, since dealing with such important matters is what the Founders of the country had in mind. I don't even think Hamilton would support the Fed since it is not a true national bank, but a colossal private money-making machine connected to the big banks on Wall Street and America's most powerful investors.
Niall then distorted the history of the Great Depression, and the recent financial catastrophe that exploded back in September. In both examples he said the Fed saved the day. What swine! Ferguson represents the Descent of Factual History on Money Matters. Yet, the audience ate it up and applauded the idea that the Fed should not be audited. From now on, I will classify Bill's audience as ignorant slaves. No other label fits them quite perfectly as that. Still, I'm glad Bill highlighted Spitzer's comment about the Fed being a Ponzi scheme and the fact that he even cited Dr. Paul's 1207 bill is a good sign. But his quick submission to Ferguson's straw man arguments was pathetic. Bill had a correct intuitive idea that transparency is a good thing because Americans know so little about the operations of the Fed, but he didn't have the mental stamina or the facts to argue against Niall. All I can feel is sadness. Even Matt Taibbi stumbled on his show last week and failed to eviscerate the financial powers loudly enough.
Niall is serving as the mouthpiece for official state propaganda by suggesting that the Almighty Fed should be the only source of liquidity in America and not interfered with. He is simply a useless idiot for the financial fascists. It is a shame because I was enjoying the few episodes that I watched from his PBS series on the Ascent of Money and thought they were informative. I was going to read his book but I'm not so confident about his authenticity anymore. I don't trust the man's judgment. He says a few good things, like how the stock market is not a good indicator of the nation's wealth because corporations' motives for profits are not in line with ordinary American's prosperity, regardless if American 401k and pension funds are invested in the stock market. Despite uttering that important truth, however, he completely bypasses the history of the Federal Reserve's role in starting and prolonging depressions, and comes to the idiotic conclusion that Americans should trust Bernanke to oversee the economy.
For all his knowledge about the financial history of the West, Ferguson knows so little about the corrupting influence of the tyrannical and private Federal Reserve. I don't know if his lack of faith in the democratic process to direct the economy proves that he's an intellectual villain or just ignorant. Whichever one is true, in my eyes, he doesn't have any authority left to speak on the financial crisis.
