This depression, there will be many voices that will not allow the blame to be shifted from the central bankers.

May God grant that Ron Paul destroy the third central bank of the United States.

EXCERPTS: “Mr. Speaker, I rise to introduce the Free Housing Market Enhancement Act. This legislation restores a free market in housing by repealing special privileges for housing-related government sponsored enterprises (GSEs)….
….. the line of credit distorts the allocation of capital. More importantly, the line of credit…on behalf of the government to engage in a massive unconstitutional and immoral income transfer from working Americans to holders of GSE debt…..Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market….capital is diverted from its most productive use into housing…. the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out….. the Federal Reserve… purchasing GSE debt and pumping liquidity into the housing market.. cannot hold off the inevitable drop in the housing market forever…postponing the necessary but painful market corrections will only deepen the inevitable fall. The more people invested in the market, the greater the effects across the economy when the bubble bursts….. it is time for Congress to act… before the bubble bursts and taxpayers are once again forced to bail out investors….”