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.

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 on Texas Straight Talk: Say No to the Dangerous Super Congress

Hyperinflation Nation Part 1/3

Links to parts 2 and 3 appear at the top of the screen towards the end.

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: “Crazy old man” or analytical clairvoyant?

 

Aaron Alghawi

Brazos County Conservative Examiner

July 29, 2011 –

With GOP contenders battling it out for the chance to face President Barack Obama in 2012, the once “cult-following” of Texas Congressman Ron Paul has turned into a base large enough to consider him one of the frontrunners. Having a massive Facebook following, the second highest 2nd quarter funds raised after former Massachusetts Gov. Mitt Romney, and recent poll victories such as the Southern Republican Leadership Conference straw poll; Paul’s more than 30 year old message of individual liberty, sound money and free markets is resonating with an ever larger audience.

Of course with this popularity comes criticism. Too many Republican voters and self-described “Constitutional conservatives”—at least those I’ve come across—have been quick to describe the libertarian-minded congressman as “kooky” and a “crazy old man”. Their primary focus is on foreign policy but some on economics as well. Despite Paul’s fervent belief in Thomas Jefferson’s philosophy of avoiding “entangling alliances”, these conservatives often paint him as a “liberal”. Perhaps liberal in the classical sense like John Stuart Mill, but certainly not in the modern-day so-called liberalism of persons like President Obama, Ed Schultz, and Alan Colmes.

Many rumors are spread by the anti-Paul conservatives. Paul supporters are often referred to as “PaulBots”—ironically similar to author Jason Materra’s term “Obama Zombies” used in the book of the same name—although save for a few kooky and loud conspiracy theorists, Paul supporters tend to be better at justifying their support for the jolly old man than do the Obama Zombies. Paul is often mischaracterized as a bigot, even though there is no evidence to support this ad hominem attack.

 

Continue here.

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.