Rand Paul: Money for Nothing

Friend,

Economic forecasts are bleak.

And Ben Bernanke and his cronies at the Federal Reserve are doing everything they can to make it WORSE - MUCH WORSE!

Please read the email below from my father about how the Fed's "print-now, ask-questions-later" policies are bankrupting every man, woman, and child in the United States.

Ben Bernanke's puppets in Congress are doing everything they can to stop folks like you from blowing the lid off the Federal Reserve.

Don't let them get away with the plundering any longer. Read this message about how you can fight back.

In Liberty,

Rand Paul, MD
U.S. Senator (R-KY)

Source: C4L

Peter Schiff: The Fed's Ivory Tower Just Got Smaller

Today's weaker than expected GDP report shows just how out of touch most professional economists remain with respect to the fundamental weakness of the US economy. After more than four years of nearly never ending monetary stimulus and more than $5 trillion worth of new federal debt, the economy remains stuck in a serious recession.

The report shows that federal stimulus and deficit spending can't create sustainable economic growth.

Although the tepid data shocked many economists, I was not surprised. I believe zero growth is consistent with the state of the real economy. The stronger growth numbers that we saw in the second half of 2012 were likely inflated due to pre-election hopes.

The disappointing economic data takes on an even gloomier tone when considered against factors that will make recovery that much more difficult. Interest rates are making their first strong upward move in nine months. Yields on 10 year Treasury bonds are up 60 basis points since the end of July, and are over 2.00% for the first time since April 2012.

The dollar is falling against most currencies except the Japanese yen (it is down more than 11% against the Euro since July), and energy prices are rising (crude oil is approaching $100 per barrel). Although these conditions are not promising, the stock market seems blissfully out of touch. As of yesterday, the S&P 500..

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Source: Town Hall

Ron Paul: Fiat Money Is NOT Wealth

Last week President Obama bluntly warned Congress that he will not negotiate when it comes to raising the statutory debt limit.  If Republicans attempt to use a debt ceiling vote to win concessions on spending from the White House, Mr. Obama threatens simply to raise the limit by executive order or other unilateral action.

This is business as usual in Washington.  Democrats literally do not believe we have a deficit and debt problem, and reliably propose greater borrowing and spending.  Republicans talk a good game when it comes to government debt, but have no credibility to argue against deficits or abuses of executive power.  Brinksmanship ensues, and ugly compromises are reached at the 11th hour.  We all lose as the endless borrowing and money printing further erode our dollar and our economy.

Keep in mind that the federal government relentlessly spends about $100 billion more each month than it collects in taxes. This means roughly 40% of every dollar Washington spends is borrowed, to be “paid back” only in highly devalued, newly created money. Ultimately this can only lead to the destruction of the US dollar, as history plainly teaches.  But in the face of this reality Obama just shrugs, turning to demagoguery and talk of little old ladies’ Social Security checks...

Read or listen to the rest of Ron Paul's column here.

Source: RonPaul.com

Peter Schiff: The Trillion Dollar Trick

The birth, and the apparent death, of the trillion dollar platinum coin idea may one day be recalled as a mere footnote in the current debt crisis drama. The ultimate rejection of the idea (which was to use a loophole in commemorative coinage law to mint a platinum coin of any denomination) by both the the President and the Federal Reserve seems to offer some relief that our economic policy is not being run by out-of-touch academics and irresponsible congressmen.

In reality, our government has been creating more than one trillion dollars out of thin air every year for the past five. The only difference is that the blatant dishonesty of a trillion-dollar platinum coin is so easy to understand that the public simply couldn't be expected to swallow it. The American people are more than willing to be fooled, but they won't tolerate so simple a ruse.  

People have a long and intimate history with coins. Some of us collected them as kids, and we all touch and see them every day. Unlike currency bills, we know intuitively that a coin's value is supposed to come from its metal content. That's why quarters are bigger than dimes. As a result, most people have…

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Source: Town Hall

Federal Reserve, FBI spied on Occupy Wall Street movement, documents show

The Federal Reserve Bank of Richmond worked with the FBI to closely monitor the protest activities of the Occupy Wall Street movement in 2011, according to recently released FBI documents.

The documents — obtained through a Freedom of Information Act request by the progressive Partnership for Civil Justice Fund (PCJF) — reveal that the FBI coordinated at length with local law enforcement, private financial institutions and other government agencies in their monitoring efforts of the Occupy movement’s activities.

For example, the Federal Reserve of Richmond — headquartered in Richmond, Va. — instructed its personnel to monitor Occupy planning sessions, and reported to the local FBI office about their findings on a number of occasions.

One of the FBI documents — published to PCJF’s site on Dec. 22, 2012 and dated Oct. 4, 2011 — says that the “Assistant Vice President [of the] Law Enforcement Unit of the Federal Reserve Law Enforcement Unit [was contacted] to pass on information regarding the movement known as Occupy Wall Street.”

“This movement has been known to be peaceful, but demonstrations across the United States show that other…

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Source: Daily Caller

Urgent: Harry Reid to kill Audit the Fed

With the U.S. Senate likely to recess after this weekend, this could be our last opportunity in this Congress to force a Senate vote on Audit the Fed.

So if you haven't yet read John Tate's email about our opportunity to Audit the out-of-control Federal Reserve, please take a moment to do so right away.

And while you're at it, make sure to sign your Action Fax Authorization Form so Campaign for Liberty can flood the U.S. Senate with faxes DEMANDING passage of Audit the Fed.

So please, take a moment to to sign your Action Fax Authorization Form IMMEDIATELY!

In Liberty,

Teri C.

C4L: Date for Audit the Fed vote revealed!

I have some very exciting news!

After years of C4L’s hard work to secure a standalone vote on Audit the Fed in the U.S. House, our day has arrived.

C4L has learned that Congressman Ron Paul’s H.R. 459, our Audit the Fed bill, will be voted on next Tuesday, July 24!

But this also means I need the help of each and every C4L member more than ever before.

Audit the Fed will be brought up under a “suspension of the rules.”

So the Fed’s allies won’t be able to offer ANY amendments to try to water down this historic bill!

But...

It also means we need two thirds of the House in order to win - instead of just a simple majority.

So it’s vital you contact Rep. David Dreier right away at (202) 225-2305 and spread the word to your friends, family, and online contacts.

You and I have come so far, and we simply can’t afford to just “assume” our congressmen have gotten the point.

All of our hard work over several years now comes down to this final week.

We need to reinforce our message loud and clear through phone calls, faxes, and if you’re able, personal visits to your representative’s Capitol Hill or district office.

Campaign for Liberty is working with Congressman Paul’s office and the Republican leadership to make sure we have the votes and can set up a simple majority vote should we not succeed under suspension.

But don’t let the two-thirds threshold discourage you.

We CAN win - and this gives us a chance to make an even BIGGER statement heading into the Senate!

Already, almost two thirds of the House has signed on as cosponsors.

We need to urge them to stay the course, and we also need to secure the final votes necessary for victory.

So please call Rep. David Dreier at (202) 225-2305 right away.

Leave a message tonight and then follow up with a call while the staff is in the office tomorrow.

Even if they’re already a cosponsor, they need to be reminded to do everything possible to pass Audit the Fed.

I’m proud we can report this exciting news.

But I’m also counting on you to help us clear this final hurdle in the House and carry our momentum over into the Senate.

Let’s finish this fight and make history in the U.S. House!

In Liberty,

Matt Hawes

Vice President

Source: Campaign for Liberty

C4L: One Giant Leap

We are winning!

And don’t let anyone tell you otherwise.

This morning, Audit the Fed unanimously passed the House Oversight and Government Reform Committee by voice vote!

Only a few short years ago, just the thought of getting a committee hearing on such an issue was considered a long shot at best, let alone achieving such a remarkable victory!

But that was because the Washington establishment and the banking elite underestimated the power of true grassroots activism.

Today’s win is a direct result of hundreds of thousands of petitions, phone calls, faxes, and emails generated by passionate C4L activists like you around the country.

One congressman noted he had been contacted by “scores of constituents” supporting Audit the Fed.

As an example of why I’ve written in previous emails that nothing can be taken for granted, at one point this morning, Rep. Elijah Cummings (MD-7) introduced an amendment that, like the Watt amendment to H.R. 1207 in the 111th Congress, would have gutted Audit the Fed.

But your pressure helped keep it from succeeding!

In fact, it was truly astonishing just how quickly Representative Cummings withdrew the amendment after it became clear there was no support for it in the Committee - even from members of his own party.

Over the last four years, you’ve helped C4L make tremendous strides in bringing the Federal Reserve to the forefront of political debate and pushing the central bank toward transparency.

Of course, ultimately, America shouldn’t even have a Federal Reserve System to create moral hazard, keep interest rates artificially low, bail out friends and favored firms, and manipulate our monetary supply.

Today’s committee hearing was just one small step toward passing Audit the Fed, but also, one giant leap toward ending it.

Now, with a floor vote before the entire U.S. House in July fast approaching, I hope you’ll stand with us again as we look to jump another hurdle and carry this bill into the Senate.

If you’re not able to give at this time, we certainly understand.  Thanks to a crisis partially created by an out-of-control Fed, Americans are still struggling to recover.

But if you can chip in just $10 or $20 today, your help will go a long way toward reaching millions more Americans about our effort and turning Audit the Fed into the law of the land!

Our chances have never been better.

Thank you for helping make it possible for a strong, full audit of the Federal Reserve to pass a House Committee.

Now on to victory in the House!

In Liberty,

Matt Hawes

Vice President