Grand Rapids, MI -- (SBWire) -- 04/14/2011 -- Back in November financial advisor Dennis Tubbergen took some time on his online blog and in his monthly Moving Markets newsletter to examine the relationship between the Federal Reserve and the U.S. government. Tubbergen recently wrote about Representative Ron Paul, R-TX, and the representative’s efforts to abolish the Federal Reserve, our ‘central bank.’
Tubbergen, who is CEO of USA Wealth Management, LLC, a federally-registered investment advisory company, recently informed his readers in a series of blogs about how the Federal Reserve works and what quantitative easing really means for the American people.
So what is Tubbergen’s take on Representative Paul’s actions?
“Representative Paul has had a long and consistent track record in wanting the central bank to go the way of the dinosaur,” explains Tubbergen. “The representative favors a currency based on the gold standard in order to force discipline on free-spending politicians.”
Tubbergen refers to a Reuters’ article published on March 17, 2011, which reads in part, “Representative Ron Paul, a persistent critic of the Federal Reserve, on Thursday renewed his uphill fight to abolish the U.S. central bank, warning it is on track to create an inflation that will hit lower-income Americans especially hard.”
According to the article, at the March 17, 2011 hearing, Representative Paul slammed the Fed’s $600 billion bond-buying program, stating the program creates inflation and is undercutting the U.S. Dollar.
Now Paul has introduced legislation that would abolish the Federal Reserve.
The article also quotes Paul as saying at the hearing that inflation hits low- and middle-income workers more than wealthier individuals, and “If you destroy a currency you will destroy the middle class.”
Historian and investor Lewis Lehrman has been quoted as saying, “A dollar that is as good as gold is the way out.”
“Interestingly, many of our founding fathers would agree with Paul and Lehrman,” comments Tubbergen. “Here are quotes from two of them, Thomas Jefferson and George Washington.”
“But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money, or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” - George Washington
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (the banks) will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” – Thomas Jefferson
“Those were wise words from men who knew,” concludes Tubbergen.
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in the USA Wealth Management Building in downtown Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be viewed at http://www.dennistubbergen.com. His weekly talk show The Everything Financial Radio Show is simulcast on two Michigan metro stations and also airs to over 600,000 financial advisors, with recent podcasts available at http://www.everythingfinancialradio.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee.
Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.
Representative Ron Paul Introduces Legislation to Abolish the Federal Reserve
Financial advisor Dennis Tubbergen takes a look at the Federal Reserve and Representative Ron Paul.