A Stuttgart Sportcar, importador oficial Porsche, encerrou 2009 com um feito histórico. O Brasil tornou-se o maior importador Porsche na América Latina, superando pela primeira vez os números de venda do México desde a criação da Porsche Latin America, em 2000. A Stuttgart comercializou 553 automóveis entre janeiro e dezembro de 2009, enquanto o importador mexicano vendeu 533 unidades da marca alemã no mesmo período.
Para Marcel Visconde, presidente da Stuttgart Sportcar, alcançar a posição de maior importador Porsche latino-americano representou um bônus para um ano que começou sob o impacto da crise econômica deflagrada no último trimestre de 2008. “No começo de 2009, estimávamos que a venda de 400 a 450 veículos ao longo do ano seria motivo para comemoração”, recorda. “Superamos essa projeção por larga margem e ainda fechamos 2009 com o segundo melhor número de vendas da história da Stuttgart.” O recorde nesse quesito continua sendo o ano de 2008, quando foram vendidos 723 Porsche zero quilômetro no Brasil.
Visconde atribui o resultado de 2009 à recuperação da economia brasileira, iniciada ainda no primeiro semestre e consolidada no segundo, quando os números de vendas voltaram aos patamares pré-crise. “A posição de liderança na América Latina fortalece a o Brasil como mercado estratégico da Porsche”, explica. “Desde 2003, a Porsche vem constituindo uma base sólida de consumidores em função do lançamento do Cayenne. Criou-se uma comunidade maior e mais homogênea de clientes. Hoje, a linha oferece produtos que vão do esportivo conversível de dois lugares, como o Boxster, até o SUV Cayenne e o sedã Panamera, passando pelo cupê Cayman e pelo clássico 911.”
Em 2010, Visconde trabalha com a expectativa de um crescimento de vendas entre 10 e 15% em relação a 2009. “A Porsche tem um portfolio de produtos muito atraente, que encanta os clientes com lançamentos como o Panamera. Acho possível chegar ao final deste ano com 600 carros vendidos no Brasil”, finaliza Visconde.
The new man charged with keeping the peace between eBay (NSDQ: EBAY), Silverlake, Andreessen Horowitz, CPP and Joltid is former Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) president Miles Flint. Skype is appointing him to chair its new-look, 17-person board, CEO Josh Silverman tells Bloomberg.
Former chairman Michael van Swaaij exited in eBay’s eventual $1.9 billion November sale of 70 percent of the Luxembourg VoIP firm to the above consortium, after acrimonious negotiations. Flint left the handset maker in 2007, before it really started to slide, and was already a Silverlake adviser.
The choice of a handsets man is a logical one for Skype, which seems intent on refocusing on its core VoIP proposition, including getting its service on to consumer mobile phones. Flint has also has previous experience in managing competing interests, by running the London-based, Japanese-Swedish Sony-Ericsson JV.
It’s not just in the consumer area where Skype is moving. At the same time, it’s announcing David Gurle, the head of Thomson-Reuters’ collaboration services and Asian sales, has joined to replace Stefan Oberg as GM and VP of Skype’s B2B team.
Prior to Thomson-Reuters (NYSE: TRI), Gurle oversaw products including NetMeeting and Windows Messenger as head of Microsoft’s real-time communications division and struck carrier partnerships as alliances VP at VoIP firm VocalTec.
Bloomberg: “Skype has said it’s on schedule to generate $1 billion in sales in 2011.”
For all the people who want to enjoy any video freely, the following tools maybe helpful M2TS Converter can help you convert M2TS files to MKV, AVI, WMV, MP4 and more; convert TS, MTS, TS, MOD, TOD, MOV, FLV, WMV, HD MP4, etc; added audio converter and audio extractor and edit your videos – Merge, Effect, Trim, Crop and Snapshot iPhone Ringtone Converter which can provide the easiest and quickest way to create iPhone ringtone from video or music and transfer it to your iPhone directly is very popular among the iPhone users. iPod Manager can help you share your ipod video to other iPods, transfer your ipod files to PC, or files from computer to iPod without any difficulty.
The following are the detailed guide:
Part 1: How to convert videos with M2TS Converter Preparation: Download and install 4Easysoft M2TS Converter Step 1: Add files
Click “Add File” button to load the video files that you want to convert. Step 2: Set output settings
You can choose the output format from the profiles drop-down lsit.
You can set Encoder, Bitrate, Channels, Resolution and so on by clicking “setting” button. Step 3: Start conversion.
Click “Start” to begin the conversion with high output quality and converting speed.
Editing Tips:
This converter also provides powerful editing functions, you can make video effect, trim video, crop video, select preferences, snapshot pictures, merge files into one.
Step 1: Input source files
The source files can be any video and audio files, such as MP4, H.264/AVC, AVI, MPEG, WMV, MP3, WMA, WAV, etc. Step 2: Pre-listen music and choose the clip
You can drag the slide bar to get music clip to convert, or type the start & end time in the corresponding text box directly. Step 3: Set output destination
You can choose the output folder by clicking "Browse" button on the right side of the "Local Output File" label. Step 4: Start the conversion
After all the settings are finished, click "Generate" button to start creating your own iPhone ringtone. During the creation, you can check the process by the progress bar at the bottom.
Part 3: How to transfer video to ipod/ipod to PC/iPod to iPod with iPod manager Preparation: Install and run 4Easysoft iPod Manager
Step 1: Connect your iPod to your computer via USB cable Step 2: According your needs to select the the functions a. If you want to import video/audio files to your iPod, click "PC to iPod" button, and then follow the instruction on it. b. If you want to transfer iPod files to PC, click "iPod to PC" button, and then follow the instruction on it. Tip: Click "Search" button to use "Track Filter" function to help you quickly browse your library by genre, artist and album. c. If you want to transfer iPod to iPod, click "iPod to iPod" button, and then follow the instruction on it. Step 3: After you have finished the above two steps,just follow the instructions on it to complete your demands.
So we can say, with it you can fully enjoy your iPod without other support!
We once worried about kids finding the wrong places to surf on the Internet and of being contacted by unsavory people.
Now it’s their iPhones, iPods, iTouch, Blackberry and Internet access on their ordinary cell phones we must be concerned about.
Cell phone image: sxc.hu
I discovered that my granddaughter can access the Internet with a new gadget she received for Christmas (and paid for mostly herself). Nearly 19 and away at college, she makes most of her own decisions. However, she seems, fortunately, to follow guidelines she learned from her family. Until she showed me her new iPod Touch, I hadn’t realized she could access the Internet any place available with her laptop.
So…if your youngsters are younger, and have one of these electronic gadgets…as so many kids do nowadays…do you set controls in this area, as well as the computer?
Here’s an article, How to Set Parental Controls on the iPhone, that explains some methods of control you may not be aware of. You also can block music you don’t want them to download and YouTube applications you don’t want them to access.
Overview
SICOM3024PT is a precise clock synchronization solution of IEC61850 compliant managed industrial Ethernet switch specifically designed to operate stably in electrically harsh and climatically demanding utility substation and industrial environments. It offers up to 24 100Base-FX or 24 100Base-TX, 4 1000Base FX/TX.
The redundant function of optical fiber network, independent entire network management channel, redundant power input function, and entire network real-time management system provides multiplex guarantee for reliable operation of the system.
Features
1. IEEE1588V2, Boundary Clock, E2E Transparent Clock (TC-E2E), P2P Transparent Clock (TC-P2P)
2. Time source automatic selection
3. Support G.8261: Timing and Synchronization Aspects in Packet Networks
4. IEC61850-3 & IEEE1613 compliant for substations, EN50121-4 compliant for rail transportation.
5. Low time delay and zero packet loss features while working with full load in a long period of time, specially designed for digital substations.
6. Support DT-Ring protocol suite (recovery time<50ms), RSTP/STP(IEEE802.1w/d) redundant protocol.
7. Support up to 24 100Base-FX and 4 1000Base SFP ports.
8. Support ring, chain, star, and tangent ring protocol.
9. Advanced ring topology protocol avoiding broadcast storm.
10. Support IGMP Snooping, port mirroring, QoS, VLAN, ACL.
11. Support multiple management functions including CLI, TELNET, WEB, SNMP V1/V2 and OPC etc.
12. Support centralized management software, network topology generated automaticly.
13. Safe MAC and port binding function, support static FDB.
14. Bind width setting function enables port band width limitation.
15. Improve network monitoring ability through RMON(group
1,2,3,and 9)
16. Broadcast storm control and unicast attack detection.
17. Real time temperature detecting and alarming, alarm value can be setted.
18. IP and MAC address confliction detection.
19. System operation log and uploading.
20. EMC industrial level 4, specially designed for harsh electromagnetic interference environment.
21. Abundant power supply options, able to provide redundant DC power supply.
22. Support relay alarm output port alarming the lose of power
23. Unified management software for SICOM series: Kyvision3.0.
24. Working temperature: -40 to 85°C(-40 to 185°F)
25. Ribbed Aluminum housing for heat dissipation, fanless design
26. Rack-mounting (19' 1U) installation.
27. IP40 protection class.
WEST CHESTER, Pennsylvania, December 16, 2009 — Sonobond Ultrasonics announced today that it now has 10 machines, plus several modules for original equipment manufacturers (OEMs), that provide fast, reliable, and cost-effective ultrasonic bonding of woven and nonwoven textile products. According to Sonobond’s Vice President, Melissa Alleman, “Manufacturers and assemblers can confidently use Sonobond units to bond textiles that are 100% synthetic, as well as blends that have up to 40% natural fibers. Felted filter media are among the nonwoven materials that our machines handle effectively.”
The following is an overview of the ultrasonic bonding equipment for woven textiles and nonwovens currently available from Sonobond Ultrasonics.
The SeamMaster™ — for General-Purpose Ultrasonic Bonding
The Sonobond SeamMaster™ seals, “sews,” and trims nonwoven and synthetic fabrics in one quick, reliable step. The unit is similar in appearance and operation to traditional sewing machines, but uses no thread, glue, or other consumables. The SeamMaster™ fuses and seals seams so effectively that it can be used in the assembly of medical disposables that must comply with OSHA regulations for barrier seams. This makes it ideal for use in the production of gowns, face masks, and mattress covers. The unit — which is up to four times faster than conventional sewing machines and up to 10 times faster than adhesive machines — is also frequently used in the assembly of filters and protective products.
The SeamMaster™ High Profile Bonder
The SeamMaster™ High Profile Bonder has a larger pattern wheel and a higher clearance above the bench than the general-purpose SeamMaster™. This makes it the ideal choice for applications involving bulky materials, hand-guided applications with tight tolerances, and for working around curves. Like the general-purpose SeamMaster™, the High Profile Bonder has fast production speeds and virtually eliminates fraying or unraveling of bonded edges and seams.
The SeamMaster™ High Profile Bonder is especially popular with body armor manufacturers. They use this unit to seal the outer nylon shell of ballistic vests with the ballistic-resistant materials inside. The reliability of the bond helps the body armor comply with the latest National Institute of Justice (NIJ) submersion test standards (NIJ 0101.06) that require protection from submersion for 30 minutes, rather than protection from a spray shower.
With the FLEXUS, Deckel is launching a revolution in versatility, productivity and quality in tool production. Wherever high versatility with a high degree of automation is desired, the FLEXUS will show you what it can do – and even reduce nonproductive times.
So, for example, deburring, polishing, drilling or milling will be possible in parallel with tool grinding – and any other operation can be added to this variety, exactly to the customer‘s needs, including assembling, measuring and cleaning functions.
The abilities of the FLEXUS are focussed on the machining of highly complex tools such as:
– reversible carbide tips,
– drill bits,
– tool cutting segments,
– spherical tools.
In addition, the FLEXUS is the ideal solution to a wide spectrum of fully automatic special grinding tasks.
Thus, it is particularly suitable for small to medium size batches with frequently changing machining processes. This grinding centre is available as a single or double machine. The single machine can be subsequently retrofitted into a double machine.
High power strobe light with 15 Joule flash energy for outdoor use
• Protection IP 66
• Flash energy 15 Joule
• Flash frequency 1 Hz
• Continuous operation
The housing of BLE 15 is made by impact restistant grey plastic and an also resistant cap in different lens colours.
The mounting bracket is made by stainless steel and is developed for an easy installation.
An inserted pressure balance valve prevents the occurrence of condensation
inside the housing, what represents frequently problems in the outside application.
The BLE 15 is available in common supply voltages like 24 VDC or 230 VAC
•Strong rubber mat for outdoor use.
•Allows for wheeled access.
•Friendly for ederly and disabled people.
•Small drainage holes diameter 14mm complient for EU norms for public entrances.
•Withstand weather extremes of all seasons.
•Suitable for heavy foot traffic.
Dimension : 70 cm x 90 cm, 90 x 150cm et 120 cm x 180 cm
Thickness : 12,5mm
in Czech Rep.
Introducing our new square, rectangular and round caps.
Example of price square caps :
30×30 = 0,030 EURO
50×50 = 0,068 EURO
80×80 = 0,230 EURO
Please write to us for the whole range and price list.
We are also capable to make any other part for much lower cost.
We are offering direct factory prices from our warehouse in Czech Republic.
We are looking for smart direct buyers and resellers worldwide.
Please, visit our web page www.elementrix.net to see the range of our products and feel free to ask for the quotation.
Auto weight sense and auto balance load manipulator for handling large size glass panels.
A Company needed to improve safety in the manual handling of large glass panels of different sizes (2m x 2m; 2m x 025m; 4m x 1m) and at the same time needed to ensure constant production output.
The ideal solution has been an INDEVA, Liftronic series.
HANDLING CYCLE:
– Gripping glass panels from trolley at 1500 mm height.- panel in vertical position inclined by 5°, leaned on the short side;
– Rotation by +90°/-90°;
– Release on assemly line at 600 mm height.- panel in vertical position leaned on the long side.
– Cycle time: average 1000 -1200 glass panels in 10 hours.
The system is equiped with self balancing gripping tool for handling glass panels of 50 Kg. The gripping is carried out by vacuum.
Technical feutures of the electronic load balancer (evolved industrial manipulator INDEVA):
– gross capacity: 140 Kg;
– net capacity: 75 Kg
– vertical excursion: 2800 mm
– lifting speed: 22.5 m/min
– power tension: 230 Volt – 50/60 Hz
– max absorbed power: 630 W;
– enclosure protection: IP 54.
– DOUBLE JOINT”ORBIT-ARM”:
– arm length: 3500 mm;
– max rotation on vertical axis 360°;
– COLUMN – 3000 mm high;
– Base platform suitable for being moved by means of a transpallet, complete with support for the end effector.
– Handles ergonomically designed; one finger tip handle;
Now the operator can handle glass panels for the whole working day with no effort. Handling large size glass panels has never been so easy: the INDEVA acts as an extension of the operator’s arm providing him power without typical constrictions of machines: no buttons to keep pressed and no load setting to select when changing the load weight. Safety against load fall and injuries to the operator are also ensured.
An INDEVA is the only solution to increase productivity, ergonomics and safety in the manual load handling.
WTW GmbH proudly announces their new ProfiLine 3000 series of single parameter handheld instruments.
All models have a rugged waterproof housing with IP 66/67 protection class. A separate battery compartment allows easy exchange of batteries or the use of rechargeable batteries. A technical highlight is the special silicone keypad with sealed surface and the feeling of “real” keys. It provides an excellent operation and is easy to clean. The instruments have continuous operation times of up to 2500 h with one battery pack (4 x 1.5 V AA).
Three model lines are offered:
• The 3110 Series for pH or conductivity measurement are functional and easy-to-use handhelds for standard measurements.
• The 3210 Series for pH, D.O. or conductivity measurement has a backlit graphical display, a plain text menu and a special CMC function to ensure that the measurement is taken within the calibration range. The series also has enhanced measurement capabilities.
• The 3310 Series for pH, D.O. or conductivity measurement is a true highlight: An automatic datalogger with memory for 5000 records and a 100% waterproof USB interface make them perfect for long-term recording in the field and for fast data transfer to a laptop or PC.
Leading European finishing equipment manufacturer Guyson International has recently installed new advanced robotic capabilities into its Skipton demonstration and engineering centre. With this fully integrated working robotic cell Guyson is able to demonstrate advanced blast nozzle manipulation techniques and the cost saving and efficiency benefits its automated blast customers will achieve.
With the introduction of new industry proven CAD/CAM software technology, Guyson’s engineers are now able to produce accurate 3D simulations of the blast treatment on the component, showing actual blast cone coverage of all critical areas. The new Guyson technique speedily removes any customer concerns regarding achievement of part coverage by verifying the process before the machine is even built.
Guyson are recommending full adoption of this type of precision robotic blasting for clients who manufacture precision components with demanding surface engineering topography requirements and/or any subsequent validation issues, typically medical implants and aerospace turbine blades.
Adoption of these sophisticated new precision robotic blasting techniques from Guyson will also deliver very real investment cost savings with the potential total purchase price of a fully automated robotic precision blast system coming under £75K. These cost savings, compared to many alternative systems, are coupled with real daily running cost savings in compressed air consumption. This is achieved by using far fewer blast guns but these being dedicated to deliver the precision blast coverage required, rather than adoption of a blanket coverage approach with more guns needed to ensure sufficient media will hit the target. The Guyson precision blast approach also delivers lower media costs through lower wastage and also less media breakdown and furthermore allows a smaller and cheaper dust collector to be specified, also with reduced waste disposal issues.
The shockproof digital load cell is based on a capacitive measurement principle where a non-contacting ceramic sensor is mounted inside the load cell body. As the load cell contains no moving parts and the sensor is not in contact with the load cell body, the load cell tolerates shocks, torsion, and very high overloads and sideloads. Therefore, the mechanical installation of the load cell can be done without expensive and complicated mounting kits and overload protection devices.
The electrical installation of the digital load cell is pure plug-and-play as the signal from the non-contacting sensor is directly converted, compensated and calibrated by a microprocessor to a digital load cell output in grams, kilograms, or Newton. Measurements and status codes are transmitted as RS485 data on a single wire coaxial cable (RG-58) which may be up to 100 meters long. The load cell cable can be replaced on-site if necessary.
The technology and mechanical design of the Eilersen load cells is covered worldwide by a number of patents.
Applications
· Dynamic weighing
· Process weighing
· Filling, batching, sorting and dosing equipment
· Vibration sorters
· Packaging machines
· Hopper scales
· Belt scales
· Conveyer scales
· Platform scales
· Big-bag equipment
· On-board vehicle weighing
Options
· ATEX (Zone 1, 2, 21, 22) version type BBLA
The Matterhorn and the Gemmi cable cars are lubricated automatically. The automatic dispenser from simatec ag also now lubricates carrying cables and cable pulleys on cable cars and mountain railways. For this the operators of the Gemmi and Matterhorn cable cars trust in simalube. The dispenser, which has a capacity of 125 ml, is set to a time setting of 6 months, thus providing the optimal amount of lubricant at the required lubrication points in extreme temperatures both in winter and in summer. The railway management consider simalube indispensable: «Because it provides flawless and independent lubrication for the carrying cable and cable pulleys, it saves us a lot of time and money», says Arnold Zenhäusern, Managing Director of Gemmibahn AG. And Peter Julen, Managing Director of the Matterhorn Glacier Paradise cable car, adds: «Maintenance technicians
no longer have to climb up each pylon once a month at dizzying heights to carry out maintenance work.
This has increased the industrial safety of our operations considerably».
Areas of application for the dispenser Thanks to the flexibility of its installation, simalube can be used in a variety of locations. The following are typical applications for lubricants in cable cars and mountain railways:
– Cables
– Cable pulleys
– Car doors
– Cables and gears
– Drag bars (connection between the car and suspension gears)
– Ventilators and cooling systems
– Aggregates and motors
Advantages of the dispenser simalube offers the following advantages:
– The dispenser contains no toxic chemicals and thus complies with strict environmental regulations
– simalube operates reliably at temperatures ranging from –20ºC to +55ºC
– The different sizes of dispensers allow a wide range of applications (30, 60, 125 and 250 ml)
– simalube applies the right amount of lubricant at the right place, which makes sense from the ecological (environmentally friendly) and economical (cost savings) points of view
– simalube saves time and money
– It prevents sliding and rolling friction as well as rust, which leads to lower energy wear and thus reduces costs.
Complex maintenance of mountain railways
Cable cars and mountain railways play an important role in tourism in Alpine regions. Due to the technical development of cable cars and mountain railways and drag lifts, manufacturers and suppliers are facing increasingly high requirements.
A Superior All-In-One Solution. . .
• Needs no LN2 — ever: because of the “run forever” Stirling-cycle cooler.
• HPGe detector element encapsulated in a high reliability cryostat, with no need ever to thermal cycle
on partial warm up.
• High stability digital signal processor built right in — no need for external electronics.
• Powered from a small 10–17 V DC supply, with a low waste heat output <20 watts: ideal for use in
confined spaces and mobile labs.
• Built-in battery back up keeps LDM running for up to 3 hours in the event of power failure.
• Near silent in operation.
The LDM100-GEM is an all-in-one HPGe gamma-ray spectrometer for use in a variety of
applications ranging from counting labs to mobile laboratories.
It requires only two electrical connections to be ready for use: a source of DC power (usually from
the supplied AC/DC mains power adaptor, but equally well from a vehicle battery) and a USB
connection to the host computer. There are no interconnecting cables required between subsystems.
Liquid nitrogen refrigerant IS NOT REQUIRED to cool the HPGe detector. The high reliability
miniature Stirling-cycle cooler takes care of this. The cooler has the additional benefit of being “all
attitude,” that is to say unlike systems which employ liquid refrigerants, it can be moved at no risk,
even while operational, important for mobile laboratory applications.
All LDMs are based on the same technology employed in the ORTEC Detective line of HPGe
nuclide identifiers. The ultra-reliable hardened cryostat and robust Stirling-cycle coolers, field-proven
hundreds of times over, are now available for a laboratory instrument. The hardened cryostat design
allows removal or reapplication of power at any point of the cool down cycle. No longer does a
partially warmed detector need to be cycled back to room temperature before cooling restarts.
Installation is simplicity itself — just attach to the stand and slide the detector up into the lead shield.
Plug in the power cable and attach the USB cable to a PC or laptop. The initial cool down takes less
than 12 hours, and you are ready to calibrate and count samples.
• All-in-one Integrated Package — rugged and compact with no interconnections — quick and easy
to install.
• High Speed USB 2.0 connectivity: plug and play.
• Battery Backup — the internal battery provides up to 3 hours of operation in the event of a power
failure, battery charge is maintained by an internal battery charger circuit inside the instrument
housing.
• High Sensitivity — large (40% relative efficiency) HPGe detector.
• Hardened Cryostat — the HPGe crystal is housed in an all-metal-sealed, ruggedized cryostat, and cooled by a highly reliable
miniature Stirling-cycle cooler. NO molecular sieve is used.
• High Stability Digital Signal Processor — built in to the system — no need for external electronics, just DC power and a USB
connection.
Spellman’s Bertan brand of 605C modular high voltage power supplies offer well regulated, fixed polarity outputs up to 20kV, which operate off a +28Vdc input (+24Vdc optional).
These fully enclosed modules are designed for bench top or OEM applications like spectrometers, detectors, imaging and electron beam usage.
The output voltage can be controlled by either a local internal potentiometer or by a customer provided ground referenced signal for remote operation.
Additionally ground referenced output voltage and current monitor signals are provided. A high voltage enable signal input allows remote control of the supply.
David Asman: They bow their heads, and after getting slapped, they looked up sheepishly and asked, “Please, sir, can I have another?” Now, others did stand their ground. But what was the purpose of this show trial? Was it really to get to the root of the financial crisis, or was it to deflect blame to the easy targets while setting the stage for yet another tax increase?
After all the bankers, we’re just taking advantage of some dumb fiscal regulatory and monetary policies that government officials have been putting in place for decades. The bankers were taking advantage of a bad situation. For that they’ve been pillaried and paraded through the press the way capitalist voters were force-marched with dunce caps by Mao’s red guards during the Cultural Revolution.
Of course, many bankers were shortsighted. Like the rest of us, they just kept overextending during the boom cycle. And in some cases there was actual double dealing. Some banks recommended bad financial instruments that were being shorted by another division of the same bank. That’s bad, it’s possibly illegal and it should be exposed.
But aren’t we blaming the wrong people for the cause of the crisis? The right people to blame are folks like Alan Greenspan who left interest rates too low for too long because he believed a nation homeowners would be good for the economy at any price. Folks like Chris Dodd who are taking favors from sub-prime lenders while rewarding those lenders with billions of your tax dollars in legislation. Folks like Barney Frank who spat at anybody who was worried about Fannie and Freddie getting billions of dollars over their heads with these lousy sub-prime loans, folks like Tim Geithner who got us in so far over our heads with AIG’s bailout, that he now may be losing his job over it.
In short, the real culprits in this mess are the politicians and the bureaucrats who let the good times roll without any consideration of the consequences of bloated government and easy money.
So, are we blaming the wrong people? Let’s ask Republican Congressman Ron Paul, who joins us now from his home I believe. Good to see you, Congressman, thanks for being here.
Ron Paul: Thank you, David.
David Asman: So are we blaming the wrong people when we focus on all the attention on the bankers?
Ron Paul: If you do only the bankers and include all the bankers, yes. Some bankers know exactly what they’re been doing and they’ve been benefiting from the easy money system, and they were wildly speculating and making a lot of money. But they were also encouraged by the moral hazard of FDIC and “too big to fail” and they knew what they were doing. So they were acting in a logical way. But the real culprit that I’ve been talking about for so long has been easy money too long, and that is low interest rates, the false signals of a lot of savings out there and you should be investing and that, of course, isn’t looked at.
David Asman: It started with the Fed and Alan Greenspan?
Ron Paul: Well, even before that. I base our modern calamity in our financial situation from 1971 when all the restraints were removed from creating currency out of thin air. And that is the reason you have your deficits – because of the lack of the tying of our dollar to anything other than paper.
David Asman: Let me just be specific for the folks out there that might not remember. 1971 is when Nixon separated the dollar from gold.
Ron Paul: Yes, and this introduced an era where Congress could run up deficits for any reason, whether it’s for policing the world or for the welfare state, and at the same time accommodating the financial situation too; the financial organizations knew about this, too. So the Fed had to monetize the deficit. If you don’t have a central bank that monetizes the debt, you put a lot of restraints on big government. Anybody that thinks government should be smaller and held in check, they have to believe in sound money, because it’s with the Federal Reserve System and the ability to create this money and the following corruption and the malinvestment and the financial bubbles and the bailouts. It’s all a consequence.
But if you do concentrate on a narrow group of bankers and say they created the whole problem without looking at legislation and without looking at the Federal Reserve and without looking at all the regulations that are a burden as well, then you’re really missing the boat.
David Asman: Alright, let’s talk about some individuals here: Barney Frank and other congressmen and senators who supported Fannie and Freddie getting way in over their head on the sub-prime loans. That had a lot to do with this as well, didn’t it?
Ron Paul: Oh yeah. I think this line of credit to the treasury was only 2 billion dollars, but I always said that when push comes to shove, the Fed will end up owning these derivatives and these securities. But I had legislation in 8, 10 years ago that said, “Remove the line of credit, remove this guarantee that the Fed would always step in”. Because if the Fed had not stepped in, you would have had the dollar crisis which has just been delayed, because too many around the world, for example the Chinese, are owning all these and if they literally collapse you would have had a bigger calamity. But all we have done is delayed the monetary crisis because we have allowed our Federal Reserve to buy up all these securities. But that was part of the system of Fannie Mae and Freddie Mac and propping them up and guaranteeing that everybody can get a loan, no down payments, 125% as equity, the whole mess. When this history is written, it will be unbelievable.
David Asman: Unbelievable. And frankly, congressman, what I would call out-and-out bribes. I mean, when you had Chris Dodd, who was the head of the banking committee writing legislation that benefited people that he was getting sweetheart deals from to the tune of 300 billion dollars in that housing bill. I would call that criminal behavior, wouldn’t you?
Ron Paul: Yeah, this is fraud in the individual sense and it should be punished and it should be looked into.
David Asman: Well, it was looked into and of course it was whitewashed, Congressman. That was the problem.
Ron Paul: Yeah, but also, the fraud is in the money. I mean, it’s fraudulent to steal from the people by diluting the value of the money. Debasing the currency is the big fraud which destroys the economy and takes away the jobs and puts the burden of inflation on the little people.
The one thing that they never talk about is our medical care system is in a crisis because it costs too much. Well, it costs too much because there is an inflationary factor. That isn’t even discussed. So everybody is cheated when you have fraud in the monetary system. But the individual fraud – how people take advantage of this and adds on to it and then there is corruption involved. Yes, but that to me is probably much smaller than the fraud of the monetary system and what we’ve been living with.
David Asman: But I have to ask you about Tim Geithner, because of course, he’s in the news. He’s going to have to answer questions before Congress. Do you think he deserves to go, based on what we’re now finding out about his role in AIG?
Ron Paul: Yeah. And he deserves to go but I warn people that’s not going to solve all our problems. They’ll replace somebody that believes in the same things that he believes in. The point that I made with the Geithner affair is that it makes my point: transparency of the Federal Reserve. We should know about all those deals, and if they knew we were going to know about all those deals, they wouldn’t be making so many and getting into so many problems.
David Asman: Well, you know we support you on the transparency issue. We actually support you in court on that. Ron Paul, great to see you, thanks for being here, appreciate it.
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