Financial Fiasco

" Our second topic is the economy. How did we get in the situation that we're in today. Why is it that people in the government say it's the fault of banks the banks -- greedy the banks need to be regulated. But if you look at the banking industry. You'll see that 75 to 80% of it is controlled by the government. And that anything the bankers -- is because the law facilitated it all the law required it -- the federal government encouraged. So how did we get in the economic mess that we're in today what lessons. Can we learn from the depression why is the government today. Doing the same thing that the government did for the great depression and will the government."

" Of this administration and this congress do little more than -- the recession joining me again. Is Jake ohrnberger who stays with us. Now I hope I have a -- I have this right Aaron mortar president of the Philadelphia forum is also well that's. And Sam Rorer. Who represents the 128. District. In the legislature of the state of Pennsylvania the commonwealth of Pennsylvania joins us. When I ask you Sam. Mr. representative. If you were Republican or Democrat you gave me -- answer I didn't expect what was happening -- here. Told that you wore a constitutional. Republican what do you mean by that."

" When I mean by that is that that whereas I am a Republican and I hold to the that to those per basic core values I am first and foremost committed to the constitution. Which under birds and basically is what all of us -- an office that take an oath to support and to defense so I -- foremost. My my commitment to the constitution as I believe all there's an office should be. Is first and foremost to the constitution and secondarily to a party -- we have a free market left in this country Jake ohrnberger."

" It's hard to argue and -- you know there's a common denominator. Between the problems of foreign policy and the problems with the economy. And that common denominator is the federal government. They got the warfare state over here you got the welfare state over here and those on the left don't want to take responsibility. For everything that they've done -- this country whither socialism. They're fascism the regulations. That's what we've got to continue focus in on that's the cause of the."

" Rob Aaron and I forgot to give. Your title and I really love this president of the Philadelphia forum of freedom and founder of the student liberty. -- I love the -- and it's called up front because that -- willing. To get into people's faces. And and and I'm grateful -- work. -- up front as well represented in this magnificent room. Are the young people on the front concerned. But the borrowing that the government is doing today. Will bankrupt them and their children and their grandchildren. With taxes are ruinous inflation when those bills have to be paid back."

" it's it's an absolute disaster. Specifically Social Security's biggest issue all of -- definitely think about that we're not gonna have -- but we're paying into it that's really frustrating. On top of that we're borrowing all this debt from China and other foreign countries would not be able to pay that back even if we get taxed twice we're getting -- now we're not and we'll get back -- So our main concerns that what's gonna happen when we can't pay for the welfare and warfare that you just talking about when these foreign countries are not willing to give us loans were not paying them back -- in our country -- our our generation's gonna suffer. -- what kind of sense does it make. To address a problem caused by too much borrowing and spending with more borrowing and spending. --"

" No sense and the stimulus plan to have going on in our economy right now really hasn't had any effect really whatsoever. View of the economy that we have and one thing that we should mention before is the enabler of all this is the Federal Reserve. And the Federal Reserve of all its its money -- in an extension of credit through the banking system. Doing is to be abolished and what we really need is sound currency for our country."

" Let's say since the Federal Reserve came into existence in 1913. The value of the dollar has gone down by 95%. And in the 140. Years prior to the Federal Reserve the -- the dollar went up 13%. Isn't that kind of just basic math. Jacob Kornberg what is it about this secret monstrosity. In Washington DC that can have tentacles all of the world but we don't know about."

" While it's incredible asked whether opposing Ron -- build audit the Fed. It's it's this paper money scheme. The governments throughout history and used it's a way to finance is out of control federal spending for both the welfare and -- state. There inflating the money supply and that's the way they're secretly in surreptitiously confiscating our wealth."

" senator -- does the constitution. Grant the congress. The power to appoint have the president appoint up -- And have this human being decide what shareholders who own corporations. Can pay the people that they hire to run those corporations. I have never found the authorization in the constitution you probably haven't either now so therefore if -- of duties in Washington just as we are -- The shirking -- duties have gotten to where we are that kind of thing is just out of it's unbelievable. How how can the government Aaron get away with the type of regulation which is nowhere mentioned that in the constitution. There are key phrases in the constitution that reinforce the free market like. The state can't interfere with private contracts like. If the government wants your property or your liberty you have to have due process mania has the cellular and you -- a right to appear before a jury. And the government has to say what you did wrong that wants your liberty and property instead we have bureaucrat saying let's say. The president and C I'll of the Bank of America makes to much money we're gonna browbeat -- giving him back. Is that the government young people want."

" I'd actually say it's it's kind of -- split and split I would say no and I think in the long run it's not what any of us one. But in the short term I think a lot of people see that here's -- rich here's a rich guy he's making a lot of money response people suffering through this crisis let's go after him. And on top of that. You mention the constitution is there any authority for this no there isn't but. The constitution is only as good as the people make it. And we are the ultimate check and balance on the government and we are not holding anyone accountable we're letting them get away with this stuff and it's our job to come back and tell them no you can't do."

" what can we do Jake ohrnberger about the rampant. Ridiculous violation of the constitution example. Just two days ago mrs. Pelosi the speaker of the House of Representatives. When asked a simple question like. Where in the constitution. Is an authorized for the federal government to manage health care responded by saying to the questioner. Are you serious. Meaning either she didn't have a serious answer or she thinks. That congress. Can regulate any activity tax anything that moves steal any property and confiscate. And he liberty it wants -- no restraint on."

" Their position that that they can do anything they want under the general welfare clause it's been that position since the new deal one of the things that we -- also mentioned. Is the idea that the framers intended precious money precious metals to be the money supply the money money system. The constitution provide for an act no power to make paper money legal tender the state for prohibited from. Making anything but gold and silver legal tender but these people believe that they have the authority to do what ever they want. And to answer your question we just need to keep talking about libertarian -- in liberty because that's what's scary these people to death. They know that this is a movement that people are gravitating toward and it's a movement designed to limit their power a dollar bill I trusted -- the back to me. Isn't worth. Does it stand for every -- for. Now the question is what is it promising to -- What is the promising I think -- paying nothing -- into the treasury while they do besides looking up lack I have three had style in the old days you go and you get your -- and -- points in in exchange for. The promissory note. By making this legal tender getting off the gold standard they were it would -- plunder in living the American people with these kind of your redeemable promise there why."

" of the value of cash in this country as a result Aaron of -- not being backed by gold and not being backed by silver. And allowing the Federal Reserve to -- as many of those things -- it wants -- nothing that Nichols you have -- worth more in medal and they are worth five cents there is absolutely no value to this whatsoever most banks around the word of drop this is the reserve currency. Representative -- you took an oath to uphold to constitution's. The constitution of the United States of America and the constitution of the commonwealth. Of Pennsylvania. To legislate tours in Pennsylvania. -- let Matt. That those rights of the sovereign commonwealth and which we are right now are being usurped not by the congress. Mac and mrs. Pelosi not George W. Bush not -- President Obama up by the secret. About which we know so little called the Federal Reserve. "

" Unfortunately it not enough judge. Unfortunately not enough most folks unfortunately do not believe even that Washington has overstepped its bounds. That is hard to believe but we are sitting here right now with a tenth amendment resolution in our in our General Assembly that I put forth. And we have probably fifty co sponsors on that. To tell the federal government you have overstepped your bounds in many areas and relative to the sovereign capacity of the states -- not enough. Answer that question."

" And I can't resist this topic because I am from the state on the other side of the Delaware. And and there -- out there are many bridges across the Delaware from New Jersey to Pennsylvania. But -- next to one of those bridges -- you're going towards Pennsylvania is a sign that says. Welcome to Pennsylvania. Where America begins because on the other side of the Delaware it's like the people's republic of New Jersey right. Gentlemen thanks very much for -- joining us on this topic are."