Date Set for Audit the Fed Vote!

From Matt Hawes Campaign for Liberty:

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 your representative right away and spread the word to your friends, family, and online contacts.

 

Read more here.

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Fed Audit Hearing Oct 4 2011

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.

Ron Paul ‘We Have Not Learned Our Lesson’

The American Dream By The Provocateur Network

The AMERICAN DREAM is a 30 minute animated film that shows you how you’ve been scammed by the most basic elements of our government system. All of us Americans strive for the American Dream, and this film shows you why your dream is getting farther and farther away. Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? Do you really know what the Federal Reserve System is and how it affects you every single day? THE AMERICAN DREAM takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in America today. You will be challenged to investigate some very entrenched and powerful institutions in this nation, and hopefully encouraged to help get our nation back on track.

Rep. Paul introduces bill to cancel $1.6T in debt held by Federal Reserve

By Pete Kasperowicz – 08/02/11 10:13 AM ET

Rep. Ron Paul on Monday introduced legislation that would lower the federal government’s debt by canceling the roughly $1.6 trillion in debt held by the Federal Reserve.

Paul has argued for the last few weeks that the idea represents a quick way to make the growing fiscal crisis more manageable. Under his bill, H.R. 2768, the $1.6 trillion that the Treasury owes to the Federal Reserve would disappear.

The Rest is here.

Ron Paul’s Statement on the Budget Control Act

From paul.house.gov

 

This evening Congress is asked to vote for a bill that claims to reduce spending in the future, thereby accepting the fiction that legislation passed today somehow can control Congress in the future. The fate of legislation like Gramm-Rudman-Hollings in 1985 and the 1997 Balanced Budget Act prove the fallacy that laws passed today somehow will restrain congressional spending in the future.

More recently, I would remind my colleagues that the legislation creating the Medicare Part D prescription drug plan contained language requesting congressional action to control Medicare costs when program expenditures reached a certain “trigger.” When this trigger was reached, Congress simply passed legislation delaying the date at which Congress would have to implement the cost controls supposedly mandated by the original bill.

The claim that spending cuts in this bill equal the amount by which it increases the debt ceiling also is mistaken. First, as explained above, it is highly unlikely that Congress will abide by these caps in the future. Second, an immediate $1 trillion increase in borrowing authority does not equal a $1 trillion cut if that cut is phased in over ten years. To pretend otherwise totally ignores the time value of money, not to mention the inevitable erosion of the purchasing power of the U.S. dollar as the Federal Reserve continues desperately to try to breathe life into the stagnating economy via QE 3,4,5,6, etc.

Read more: