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  • Republicans eye return to gold standard

    Posted on by Azrael Comment

    The Republican Party intends to call for a commission to study returning the United States to the gold standard, the party’s platform committee chief said.

    The proposed Gold Commission — expected to be approved next week as part of the party platform at the Republican National Convention — would peg the U.S. dollar to gold instead of to other currencies and interest rates as it is today, Rep. Marsha Blackburn, R-Tenn., the platform committee co-chair, told the Financial Times.

    The gold standard was abandoned by Republican President Richard Nixon in 1971.

    The platform expected to be voted on in Tampa, Fla., would also call for an audit of Federal Reserve System’s monetary policy, Blackburn told the newspaper.

    These manifesto points were not adopted to appease formerly active libertarian-leaning GOP presidential hopeful Ron Paul, R-Texas, and the convention delegates he won during the primaries and caucuses, she said.

    “These were adopted because they are things that Republicans agree on,” Blackburn told the Times. “The House recently passed a bill on this, and this is something that we think needs to be done.”

    Paul, who ended active campaigning May 14, says he wants a prominent convention role.

    Party economists argue a return to the gold standard would stabilize the dollar by discouraging hefty fiscal spending as well as preventing the Federal Reserve from creating excess money.

    Full article: http://www.upi.com/T … /UPI-15171345795200/


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  • Ron Paul’s Vision for The Liberty People as The RNC Date Approaches

    Posted on by Azrael Comment

    It looks like the “liberty man” is not going to be given an official speaking slot at the Republican National Convention in Tampa at the end of the month. Texas congressman Ron Paul is missing from the RNC’s list of announced speakers, The Blaze reported Friday.

    Although this is hardly an unexpected omission, it has served to heighten the tension surrounding the event. Delegates from all over the country will meet in Florida on August 27th to nominate the Republican Party’s presidential candidate and Barack Obama’s opponent. Paul supporters, which comprise a hefty number of the delegates, will certainly be making their presence felt, as they have been doing for months.

    The Ron Paul Campaign has planned a rally to be held on the afternoon of August 26th, with the theme ‘We Are the Future – A Rally for the Liberty Delegates’. Another rally organized by Paul’s supporters will run simultaneously in Tampa.

    These events are expected to draw huge crowds and put a spotlight on Paul’s gigantic influence, despite the Republican Party’s snub.

    Paul supporters, of course, are still holding out for a Ron Paul presidency. Although it is becoming increasingly likely that the party will nominate Mitt Romney at the convention, it is theoretically possible for Paul’s delegates to pull off a last-minute takeover next week.

    This possibility may shed some light on the Republican Party’s seemingly dangerous and unwise decision not to humor Paul supporters by giving their spokesman a speaking slot. Perhaps the RNC organizers know that Paul shines on a podium when given a reasonable amount of time to explain his views and that when his remarks are not limited to sound-bite-length statements in a televised debate, his fact-based arguments are fascinatingly convincing.

    Paul supporters are weary of seeing their man ignored and cheated out of his votes. Many are fed up with the party and some have taken to wearing buttons which declare boldly, “No One But Paul: good luck winning without us!” They understand something the GOP doesn’t seem to grasp. They have become a massive electoral base, and if they abandon the party this November, Mitt Romney and his supporters will be in a sorry state.

    But what about the man himself? Where does Ron Paul come down in all of this confusion? Although he can’t help but be aware of the injustices done to his campaign and of his supporters’ frustration, the congressman is showing remarkable foresight in paving the way for a future generation of liberty people, even as he himself begins to see the end of his own road in sight.

    In a message to his supporters, concerning the rally his campaign has planned in Tampa, Paul said, “I’m sure it will not only be a great time, but it will also go a long way to proving you and I are the future of the Republican Party.”

    Ron Paul’s dream is to see his supporters take the message of liberty into the heart of the GOP and transform the Republican Party. He wants to see his dedication to fair play, his passion for the Constitution, his commitment to push back on the overreaching US government, and his enmity towards the Federal Reserve reach the utmost corners of the establishment.

    He wants the Republican Party to radically redefine its idea of government authority.

    Paul continues to urge respectful discourse. He know his supporters are inclined to get excited, and he wants them to fight their battles courteously, bearing in mind that kindness and patience are more effective than threats and taunts. He is paving a way for them to take when he is gone.

    Ron Paul still has hope for the GOP. He has a vision of what the GOP can become.

    Full article: http://communities.w … -rnc-date-approache/


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  • Oil tops $116 on Fed stimulus hopes

    Posted on by Azrael Comment

    Oil prices rose by more than a dollar on Thursday to top $116 a barrel on renewed hopes for a third round of monetary stimulus by the U.S. Federal Reserve despite weak economic data from China.

    Brent crude futures were up $1.21 to $116.12 a barrel by 1155 GMT, having reached $116.38 earlier in the session.

    U.S. crude was up 28 cents at $97.54 per barrel, off a three-month high of $98.29 hit earlier.

    Investors and traders are betting that additional monetary stimulus is imminent after minutes from the last U.S. central bank meeting were released late on Wednesday.

    The minutes noted that many Federal Reserve members “judged that additional monetary accommodation would likely be warranted fairly soon” unless the economy improves considerably.

    This is being interpreted as a hint that the Federal Reserve could act at next week’s Jackson Hole Symposium, where Chairman Ben Bernanke and European Central Bank President Mario Draghi are scheduled to speak.

    Dominick Chirichella, of the Energy Management Institute, noted that Bernanke had announced the second round of quantitative easing at Jackson Hole in 2010.

    Further stimulus may weaken the dollar, which in turn will lift commodities priced in dollars, while any boost to the U.S. economy from the stimulus may also drive up oil demand.

    Full article: http://www.reuters.c … dUSBRE83H17O20120823


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