UPDATE: HR459 – 274 Cosponsors

HR459 cosponsors – Federal Reserve Transparency Act of 2011

Updated 7/19/2012 – 274 Cosponsors

Click HERE for a more detailed view at Google maps.

A rare Fed dissent from three regional presidents

The Federal Reserve has kept its short-term interest-rate target at near-zero for 32 months, and yesterday its Open Market Committee announced that it’ll keep the rate there for at least another 24 months. This is what a central bank does when it wants to appear to do something to help the economy but has already fired most of its ammunition.

The announcement of a specific mid-2013 target date supplants language that near-zero rates would continue for an “extended period.” The idea is to assure markets that the Fed won’t tighten for a very long time. Investors who want higher returns will have to go further out on the risk curve for longer, and so perhaps this will keep long rates lower for longer. Equities—one form of risky asset—certainly reacted well yesterday.

Read more here.

The Federal Reserve has kept its short-term interest-rate target at near-zero for 32 months, and yesterday its Open Market Committee announced that it’ll keep the rate there for at least another 24 months. This is what a central bank does when it wants to appear to do something to help the economy but has already fired most of its ammunition.

The announcement of a specific mid-2013 target date supplants language that near-zero rates would continue for an “extended period.” The idea is to assure markets that the Fed won’t tighten for a very long time. Investors who want higher returns will have to go further out on the risk curve for longer, and so perhaps this will keep long rates lower for longer. Equities—one form of risky asset—certainly reacted well yesterday.

A Short History of US Credit Defaults

Mises Daily: Friday, July 15, 2011 by John S. Chamberlain

On July 13th, the president of the United States angrily walked out of ongoing negotiations over the raising of the debt ceiling from its legislated maximum of $14.294 trillion dollars. This prompted a new round of speculation over whether the United States might default on its financial obligations. In these circumstances, it is useful to recall the previous instances in which this has occurred and the effects of those defaults. By studying the defaults of the past, we can gain insights into what future defaults might portend.

 

Read more: http://mises.org/daily/5463/A-Short-History-of-US-Credit-D%20efaults

When a cut is not a cut

When a cut is not a cut

By Rep. Ron Paul (R-Texas) – 08/01/11 12:15 PM ET

One might think that the recent drama over the debt ceiling involves one side wanting to increase or maintain spending with the other side wanting to drastically cut spending, but that is far from the truth.  In spite of the rhetoric being thrown around, the real debate is over how much government spending will increase.

No plan under serious consideration cuts spending in the way you and I think about it.  Instead, the “cuts” being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases.  This is akin to a family “saving” $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda.  But this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people.

 

Continue reading here.

Ron Paul the Master

This Is Why We Need Ron Paul 2012

Ron Paul: It’s All a Fraud – Boehner’s “Cuts” Are Fictitious

The Amazingly Accurate Predictions of Ron Paul

Ron Paul is America’s leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a sensible pro-America foreign policy.

 

11/29/11 Ron Paul Says `No Doubt’ Debt Limit Will Be Raised

July 29 (Bloomberg) — Ron Paul, a Republican representative from Texas and a candidate for the 2012 Republican presidential nomination, talks about the impasse over raising the U.S. debt limit. Paul speaks in Washington with Megan Hughes on Bloomberg Television’s “On the Move Asia.” (Paul spoke before Representative Kevin McCarthy said the U.S. House won’t vote Thursday on Speaker John Boehner’s debt-limit plan. Source: Bloomberg)

http://youtu.be/Cxnhu8tj-oQ

 

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

Posted by qu4nt|_|m w0rm on July 21st, 2011 at Unelected.org

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

Read more.