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Ron Paul to co-host on television this Tuesday

Saturday, December 12th, 2009

Far from fading away like the establishment expected, Congressman Paul’s message of freedom, peace, and prosperity continues to garner unprecedented coverage.

After a tremendous string of media hits to start December, Ron Paul’s biggest television appearance yet will come this Tuesday, December 15, as he co-hosts CNBC’s Squawk Box from 8-9am eastern!

It is incredible for a member of Congress not in his party’s leadership to be receiving the amount of attention Ron Paul has seen in recent months. Our movement is truly making great progress.

Thank you for continuing to follow Dr. Paul’s media appearances. You can be sure the producers take notice of the increased viewerships their shows receive when they interview Congressman Paul.

Tune in to CNBC’s Squawk Box this Tuesday from 8-9am eastern and support Ron Paul’s message of economic freedom!

Jim Rogers: “The Fed is making our lives miserable … Audit It, Then Abolish It”

Friday, December 11th, 2009

Saying the Federal Reserve is the only institution in the world he knows of that isn’t audited, famed investor and author Jim Rogers said in an interview, “It’s incomprehensible to me these people are saying they have no reason to be audited — they must have done something wrong, must have something to hide.”

This was in response to a question of whether Rogers supported the bill by Ron Paul to audit the Federal Reserve.

Rogers strongly states that we not only need to audit the Fed, but like Ron Paul, we need to completely abolish it as well. Reasons for that, according to Rogers, are: “The Fed is printing huge amounts of money, which we’ll have to pay for sometime. The Fed is borrowing gigantic amounts of money on their balance sheet…the numbers are so staggering that this is going to have ramifications before too much longer.”

This practice of course has been the systemic problem of having a Federal Reserve in the first place, as it has been employing these practices since its inception, albeit on a smaller level than the extraordinary measures they’ve taken recently.

In an amazing statement most of us can only hope fervently for, Rogers says that he believes the Federal Reserve won’t need to be abolished by anyone, as it’s “going to abolish itself” sometime in the next several years. He particularly points out the horrendous performances of current Fed chairman Ben Bernanke as well as his predecessor Alan Greenspan, who in reality set up the circumstances which Bernanke responded to so poorly.

As Rogers states in the interview, he has found no credible reason for the Federal Reserve not to be fully audited, and suggests the idea of an independent Fed being interfered with by Congress concerning monetary policies, especially interest rates, is for the most part nonsense and irrelevant to the action if it does happen.

Again, there is probably much the Federal Reserve is hiding to resist the audit so much. If not, you would think they would embrace it gladly to allow its great decisions and monetary genius be seen by us all. That’s of course not the case, and is not going to happen unless it’s forced upon them by the government, which looks increasingly like it will be.

When pressed on whether the shutting down of the Federal Reserve would be devastating to the economy, Rogers stated: “Yes it would be complicated and painful for a while. But I’d rather find out they’re bankrupt today than to find out in five or 10 years — when they’ve had another 10 years of this madness where they’re printing even more money [and] taking out even more debts in our name.”

Rogers also reminds us that there have been several other central banks in the history of the United States, and when they were shut down we kept on going successfully without them. There’s no reason to suspect it would be any different without the Federal Reserve as well.

Ron Paul on Glenn Beck 12/9/09

Wednesday, December 9th, 2009

here’s Ron and Glenn Beck laying out a lot of heavy stuff….

The Hill: Ron Paul and Ben Bernanke are Locked in a Clash of Titans

Tuesday, December 8th, 2009

High-stakes duel between Rep. Paul and chairman Bernanke intensifies

By Silla Brush | The Hill
12/08/09

Rep. Ron Paul and Ben Bernanke are locked in a clash of titans.

Paul, the 74-year-old House libertarian from Texas with the high-pitched voice, has fought for decades to kill off the Federal Reserve.

Bernanke, the mild-mannered ex-Princeton professor and chairman of the bank, is waging a high-stakes battle for the Fed’s reputation. And he’s doing everything possible to knock out Paul.

The fight is still in the early rounds. But with the full House expected to vote this week to give government auditors more power to scrutinize the Fed, Paul has the upper hand.

The Senate is a much more difficult round for Paul, though a similar stew of liberal and conservative support is starting to simmer in the upper chamber behind the Republican’s wonky auditing measure.

Bernanke and Paul have never met one-on-one behind closed doors, Paul’s office said. The battle has taken place in public — on blogs, with grassroots activists and during congressional hearings.

Bernanke has testified against the provision, given lengthy media interviews, written op-eds and attempted to lift the cloud of secrecy that hangs over the bank.

The Fed is audited, he argues, but allowing government scrutiny of interest rate decisions will politicize the Fed. Opening the door to congressionally requested audits would compromise the market’s confidence in the bank.

Paul, a longstanding supporter of a new gold standard, made his case formally in his recently published book, End the Fed.

The 2008 presidential candidate’s crusade is no longer a quixotic quest. He is a prime beneficiary of the grassroots anger this year against government bailouts for Wall Street.

First introduced in February, Paul’s bill to audit the Fed has gained 317 co-sponsors, a shocking three-quarters of the House. The bill has not won over many Democrats in leadership, but it has picked up several committee chairmen, including Reps. Bart Gordon (Tenn.), Jim Oberstar (Minn.) and John Spratt (S.C.).

Rep. Alan Grayson (D-Fla.), a prominent Paul ally on the bill, has provided a huge boost to the effort with his firebrand strain of liberal politics.
Grayson has publicly slammed the Fed, going so far as calling its top lobbyist a “K Street whore” before apologizing. Paul himself said the full force of “lobbyists for the Fed” is stacked against him.

As the popularity of the Paul-Grayson measure rose this year, Bernanke’s fell.

Praised by many economists for taking the necessary steps to right the economy over the last year, his overall public approval has soured. A Rasmussen poll in November showed that just 21 percent of those surveyed thought Bernanke should be reappointed. Meanwhile, 79 percent of those polled said auditing the Fed is a good idea.

Republicans have jumped behind Paul, who stood out in last year’s GOP presidential primary for his outspokenness against the Iraq war.

“There needs to be Fed independence and accountability for those dollars to at least look back at those decisions,” said Rep. Kevin Brady (R-Texas).

But the political value is plain as Republicans argue the government is taking too large a role in the economy.

“The Fed becomes for Republicans a very convenient, always controversial, always misunderstood, very specific whipping boy that they can ride to potential victory in 2010 and 2012,” said a Washington-based financial lobbyist.

Bernanke has the normally powerful Rep. Barney Frank (D-Mass.) in his corner. But as chairman of the House Financial Services Committee, Frank couldn’t eke out a compromise.

Frank rarely loses battles, but an attempt — with Rep. Mel Watt (D-N.C.) — at a deal on the audit issue simply fell short at the committee level. Liberal activist Robert Borosage, who is campaigning against Bernanke’s nomination for a second term, said the compromise effort was nothing more than “the establishment alternative.”

The committee voted 43-26 in favor of Paul’s amendment as 15 Democrats on the panel bucked Frank.

The vote drew a bright line between the senior Democrats atop the committee and the freshman and sophomore members.

“I think some of the newer members are in the most vulnerable districts,” said Rep. Brad Miller (D-N.C.), a Paul-Grayson co-sponsor who instead joined Frank in voting against the Paul amendment. “They were certainly getting the calls that I was getting, and they were reading the politics differently.”

Frank and Paul are both veterans of the House, and while they are on nearly opposite ends of the political spectrum, they have a mutual respect. The two have worked closely on an Internet gaming measure.

Many Democrats and Republicans on Capitol Hill say that Frank, despite his partisan rhetoric, is a pragmatist.

“I never felt [Frank] was against me,” Paul said.

Frank said last week the language wouldn’t be changed when the House heads for the vote. Ten of the 13 House members on the Rules Committee are among Paul’s backers, including Chairwoman Louise Slaughter (D-N.Y.).

“Absent some change in the way the public is reacting, I don’t see any changes,” Frank said. “I think there is this tension within the Republican Party. A lot of their people who traditionally have a lot of influence are troubled by this, but they may be cowed by the anger at the Fed.”

In the Senate, Paul has found support from Sens. Jim DeMint, the conservative Republican from South Carolina, and Bernie Sanders, the Independent from Vermont who calls himself a proud socialist.

A left-right coalition of interest groups on the outside is joining forces against Bernanke.

Bob Cusack contributed to this article.

END THE FED Rally Videos

Wednesday, December 2nd, 2009

Hey folks,
Thanks for your patience with the videos from the rally. I finally got everything uploaded to our youtube channel (www.youtube.com/truth215freedom). If you’ve ever had the pleasure of making a video, chopping it up, and uploading it to youtube, while you’re in the middle of moving and setting up your new house, you can appreciate the time that was put into these videos. That said, please rate, comment, and share them with the world, I’d appreciate the help! Thanks again everyone, see you all on 12/11/09 for the holiday party!!!

Love and Liberty,
Mike Salvi

End the Fed March
http://www.youtube.com/watch?v=AcQHwZysYd0

Mark Passio at the Fed
http://www.youtube.com/watch?v=_Ik4js_8FmE

Jake Towne at the Fed
http://www.youtube.com/watch?v=4g-dpY0seEY

Rob Pepe at the Fed
http://www.youtube.com/watch?v=Ryy56O9q62A

Pat Sellers at the Fed
http://www.youtube.com/watch?v=p7Ncx0qa6aw

Jake Towne inside (3 videos)
http://www.youtube.com/watch?v=73yfuMMf188

Dr James G Allen inside (2 videos)
http://www.youtube.com/watch?v=mbGhYPeErXg

Larken Rose inside (2 videos)
http://www.youtube.com/watch?v=e6tzOS1SQNA

William Kern inside (2 videos)
http://www.youtube.com/watch?v=2GuhbxC_AWY

Jacob Hornberger inside (2 videos)
http://www.youtube.com/watch?v=zw-PhhxznIA

REMINDER:
If you’d like to be more involved in helping out with events/outreaches/action items/ideas, please RSVP to our open organizer meeting this Saturday (you don’t need to be an organizer, this is open to all members, new and old) Open Organizer Planning Meeting

This message was sent by Mike Salvi (salvi@libertysolutions.ws) from TRUTH, FREEDOM, PROSPERITY.

Thanks,
Michael Salvi
www.truthfreedomprosperity.org
www.pennsylvaniarevolution.com

Ron Paul on the House floor 12/01/09

Wednesday, December 2nd, 2009

Ron Paul on the House floor 12/01/09:
“This belief is a dream that will become a nightmare for all Americans!”

Run Ron, Run!

Spitzer says Ron Paul is right

Wednesday, November 25th, 2009

I love the comment about the Fed independence argument.

END THE FED!

Spitzer On Paul’s Audit Of The Fed Bill

Audit the Fed Attached as an Amendment

Monday, November 23rd, 2009

Texas Straight Talk – A weekly column
Rep. Ron Paul (R) – TX 14

I was pleased last week when we won a vote in the Financial Services Committee to include language from the Audit the Fed bill HR1207 in the upcoming financial regulatory reform bill. As it stands now, if HR 3996 passes, because of this action, the Federal Reserve’s entire balance sheet will be opened up to a GAO audit. We will at last have a chance to find out what happened to the trillions of dollars the Fed has been giving out.

Finally, the blanket restrictions on GAO audits of the Fed that have existed since 1978 will be removed. All items on the Fed’s balance sheet will be auditable, including all credit facilities, all securities purchase programs, and all agreements with foreign central banks. To calm fears that we might be trying to substitute congressional action for Fed mischief in tinkering with monetary policy, we agreed to a 180 day lag time before details of the Fed’s market actions are released and included language to state explicitly that nothing in the amendment should be construed as interference in or dictation of monetary policy by Congress or the GAO. This left no reasonable objections standing and the amendment passed with a vote of 43 to 26.

This was a major triumph for transparency and accountability in government. With unprecedented turmoil in the financial markets, the people are demanding to know and understand the extent of the Federal Reserve’s involvement in the creation of out-of-control business cycles, who they are helping, and how. We need information. The excuses for not giving out this information are flimsy at best, and the passage of this amendment is a major step to finally getting at the truth.

Of course I could not have done this without the help and support of many other members who have been strong allies in this fight. Having over 300 cosponsors was obviously helpful.

However, as great as this victory is, we have to remember that this amendment is attached to a bill that would give sweeping new powers to the Federal Reserve. The Fed has taken its mandate to maintain stable prices and full employment and used its immense power to help elite friends at the great expense of everyone else. The answer is not to increase their powers and ability to interfere in the economy, but that is what the legislation will do. It is a disaster waiting to happen, and unfortunately it looks as if it will pass.

At least with the Audit the Fed amendment attached to the bill, the Fed will not be able to do its destructive work in secret. The people will know exactly who the beneficiaries are of this immoral system of money management.

House panel approves Ron Paul’s proposal to audit the Federal Reserve

Thursday, November 19th, 2009

By VICTORIA MCGRANE – Politico.com

The House Financial Services Committee has approved Rep. Ron Paul’s measure to drastically expand the government’s power to audit the Federal Reserve.

The measure, based on a Paul proposal that has attracted more than 300 co-sponsors, passed, 43-26, as an amendment to a financial reform bill. Florida Democrat and fellow Fed critic Alan Grayson co-sponsored the amendment with Paul and played a leading role drumming up support for it among committee members. The adoption of this amendment is an extraordinary victory for Paul, whose libertarian, anti-Fed leanings have often been dismissed by the political establishment.

The amendment would give the Government Accountability Office much greater to audit the Federal Reserve, which has a long history of independence from congressional audits. Paul and Grayson beat out a competing measure offered by Rep. Mel Watt (D-N.C.), who after weeks of negotiations with the pair felt their measure would threaten the Fed’s monetary policy.

Grayson, however, told POLITICO in an interview that Watt’s amendment would add more restrictions on the GAO’s ability to audit the Fed, not less. “And there’s a crying need to expand it because the Federal Reserve has completely changed the way it’s done business since a year and a half ago.”

The House Financial Services Committee will vote on approving the underlying bill after Thanksgiving recess.

Americans Deserve a Transparent Fed

Thursday, November 19th, 2009

Trillion-dollar interventions in the economy merit scrutiny by taxpayers and their representatives.

By RON PAUL AND JIM DEMINT

For nearly a century the Federal Reserve has operated in the shadows, away from the prying eyes of Congress, journalists and the American people. Created in 1913, the Fed was given enormous responsibility to protect the value of our currency. Yet in the last 96 years the U.S. dollar has lost more than 95% of its purchasing power. The Fed’s unprecedented actions over the past year in attempting to stabilize the financial system have now forced it into the spotlight, and caused millions of people around the country to question the opacity of the Fed’s financial transactions.

While the Fed is more transparent now than it was 20 or 30 years ago, there is still a long way to go. If the Fed were fully transparent, organizations such as Bloomberg and Fox News wouldn’t have to sue its board of governors to receive materials that should be available through Freedom of Information Act requests. These include information on which banks and companies received loans and for what amounts after the 2008 financial meltdown.

One puzzling assertion made by the Fed and its supporters is that the Federal Reserve has some sort of independence from the government and independence in undertaking monetary policy. Nothing could be further from the truth. The Federal Reserve is a government-created banking monopoly, and its top decision makers are appointed by the president and confirmed by the Senate. If they do not perform satisfactorily in the eyes of politicians, they will not be renominated.

The Fed has also, for the past three decades, been required to engage in monetary policy with the goal of maintaining stable prices and full employment. Since the natural trend over time is for prices to decrease, a mandate to maintain stable prices is a mandate to pursue an expansionary monetary policy and inflate the money supply to counteract the lower prices we would expect from increased productivity.

The Fed chairman is required to appear twice a year before Congress to explain the Fed’s actions, and how the Fed is complying with its mandates of stable prices and full employment. However, the idea that this constitutes any sort of oversight is laughable.

Each congressman who questions the chairman receives only a few minutes in which to ask questions and receive answers. Having been on the receiving end of Alan Greenspan’s notoriously obtuse “Greenspan-Speak” answers and Ben Bernanke’s similarly convoluted statements, we can assure you that the process is completely ineffective at getting any real answers.

No matter how direct the questions are, Fed chairmen answer with a vagueness common to bureaucrats. The whole process is window dressing for public consumption, not any sort of attempt to exercise oversight or gain any real insight into the Fed’s actions.

What is needed is a full audit of the Fed, something that has never happened. We need to know who the Fed is giving money to, what types of securities are being purchased and what backs those securities, how much money is being paid for those securities, etc.

While Rep. Mel Watt’s (D., N.C.) efforts to audit the new lending facilities authorized to bail out private firms such as AIG is a step in the right direction, it is still just a first step. These facilities have the same effect on the money supply as securities purchased through open market operations. Why should securities placed on one line of the Fed’s balance sheet be subject to audit while the exact same securities placed elsewhere on the balance sheet are not subject to audit? The loopholes need to be closed.

In coming weeks we plan to offer companion amendments to legislation already before the House and Senate that will open the Fed up to a complete audit. The amendments set a six-month time lag on the publication of previously unreleased audit data to address the Fed’s concerns that actions undertaken in support of monetary policy would immediately be politicized. The transcripts and minutes of the Federal Open Market Committee meetings would continue to be made public at the Fed’s discretion, with unpublicized details of meetings not subject to any additional scrutiny. Finally, the amendments make clear that the purpose of the audits is not to interfere with or dictate monetary policy.

As strong opponents of government intervention into the economy, we do not want to see Congress directly dictate monetary policy. But while the Fed is involved so heavily in monetary policy and its actions so heavily influence the future of our economy, it is necessary that it be fully transparent. Interventions into the economy on the order of trillions of dollars cannot continue to escape public scrutiny. American taxpayers deserve better.

Mr. Paul is a Republican congressman from Texas. Mr. DeMint is a Republican senator from South Carolina.