Senate Votes to "Audit the Fed"

Tuesday May 11, 2010 the US Senate voted unanimously (96-0; 4 not voting) on an amendment "To require the non-partisan Government Accountability Office to conduct an independent audit of the Board of Governors of the Federal Reserve System that does not interfere with monetary policy, to let the American people know the names of the recipients of over $2,000,000,000,000 in taxpayer assistance from the Federal Reserve System, and for other purposes." There is slightly different wording between this amendment and the version passed by the House. The House and Senate bills will now go to the conference committee which will attempt to reconcile the differences between the two bills (and their amendments).

RonPaul.com posted the following:

Congressman Ron Paul (TX-14) today expressed disappointment that the Senate failed to pass an amendment offered by Senator Vitter (amending the Senate financial reform bill), which included the express language of Congressman Paul’s landmark “Audit the Fed” legislation. Paul’s legislation passed by a large margin in the House of Representatives last fall as part of the House financial reform bill, and Senator Vitter’s amendment would have paved the way for a full and ongoing audit of all of the Federal Reserve’s lending and monetary policy activity.

However, the Vitter amendment was supported by over 1/3 of the Senate, and the Sanders amendment (calling for disclosure of how approximately $2 trillion of Federal Reserve credit facilities were dispersed) passed unanimously today in the Senate. Therefore Paul remains hopeful that momentum is shifting and the days of Federal Reserve secrecy are coming to an end.

“The 37 votes our measure received in the Senate represent a strong step in our continuing work for full Federal Reserve transparency. In addition, the passage of the Sanders Amendment is a victory for taxpayers, who will finally know who received $2 trillion of their money,” stated Congressman Paul. “The Fed is no longer an untouchable monolith. It can no longer take for granted its absolute power to create and give away public money at will, with no true accountability. With strong support in the Senate, the House, and especially among the public, more victories for full transparency lie ahead.”

John Tate of the Campaign for Liberty attacked the Sanders Amendment and said he will continue to push Congress for an up or down vote on Ron Paul’s HR 1207.

Today, the U.S. Senate voted 62 to 37 against an amendment to allow greater transparency at the Federal Reserve.

This amendment was introduced to counter a weaker amendment that would have required only a one-time audit just of Fed emergency programs. The new amendment was similar to the original H.R. 1207 audit bill introduced by Congressman Ron Paul and added to the House financial reform package.

“The Sanders Amendment is no substitute for a complete and thorough audit of the Fed,” said John Tate, President of Campaign for Liberty. “With this vote, we now have a record of those who really want transparency and those who only pay lip-service to it while upholding the status quo.”

If the entire financial regulation bill makes it out of the Senate, it heads to the House, where House Financial Services Committee Chairman Barney Frank will choose which version to move forward on.

“The Dodd bill itself is just another bad piece of legislation, which will benefit no one except the Fed and its friends at big banks,” said Tate. “It institutionalizes bailouts for banks and subsidizes risky financial decisions.”

“Despite what happens with the financial regulation bill, we will continue pushing Congress for an up or down vote on H.R. 1207, which is the only full audit to allow true transparency in our financial system.”

DownsizeDC has given five possible outcomes to an audit of the Federal Reserve System:

Outcome #1: The audit is ignored.
The FED is a complex operation, and the audit will reflect that. There may be no soundbites that the media and the public can understand. The audit report may simply be ignored, and then forgotten.

Outcome #2: The FED gets a passing grade.
We can't guarantee that the audit will tell us what we want, or that the auditors will even focus on the things we think are important. The audit will most likely be conducted by establishment insiders, not by people like us. The result could be the exact opposite of what we expect.

Outcome #3: The audit reports bad things, but nothing is done about it.
We think this is the most likely result. In the 1980s the Grace Commission found massive examples of government waste and fraud, but nothing was ever done about it. Instead, the problem just got worse. People may pay attention to the audit, just as they did the Grace Commission, but that doesn't mean real change will happen.

Outcome #4: The auditors report big problems, and Congress decides to fix the FED.
This may sound like the result we want, but it could be the worst outcome. We want to end the FED, not have Congress micro-manage it.
Imagine what would happen if money creation was a partisan political power. Imagine the consequences if a single branch of government, Congress, could both spend money, and create it.
Have you ever watched a Financial Services Committee hearings on C-Span? It's frightening. I hate the FED, but Lord, please, don't let these people control our money supply!

Outcome #5: The auditors report horrifying things, and Congress decides to close the FED.”
This is what we want and I see an audit as a stepping stone to a complete shut-down of the Federal Reserve.

REALITY REPORT #40 - CBS Spins Paul, Badnarik on Articles, Kokesh on Campaigning, FED buys Mall

http://RealityReport.TV | http://RestoreTheRepublic.com | Was there an attempt to exclude 70 Ron Paul supporters from the Southern Republican Leadership Conference? We'll show you the hidden camera footage. What is being delivered to state houses and congressional offices on April 19th? President Michael Badnarik lets us know. How is the Adam Kokesh Campaign shaping up in Santa Fe? We talk to Adam about it. Does the Federal Reserve own a mall in Oklahoma? Is the United Kingdom laying the groundwork to shut down the internet? The Reality Report Crew take on those questions and deliver the facts in the 40th edition.

PuZzLeD...Liberty Kids Take it to the Streets

Starring Ron Paul, Adam Kokesh, Catherine Bleish, Tom Woods, Tarrin Lupo, John Bush, Kritical Kontact, Freedom's Phoenix, LOLA Girls, an Brooke Kelley as the Truth Fairy, the Liberty Kids take their plan of action to the Streets and engage in controversial civil disobedience.

2009: A Year in Review

The past year has been very politically active for a non-(major)-election year; although I realize there were 2 Gubernatorial elections and a highly publicized special election in New York's 23rd Congressional District.

The year began much the same as 2008 ended: with increased federal spending, thanks, in part, to bank & car company bailouts. Both of which were highly criticized by an overwhelming majority of the American public. It was no surprise (to me, anyways) that a group advocated a February 1st “tea party” - which asked people to mail a tea bag and a note to each member of “their” Congressional delegation (two Senators and Representative) and the President. This “event” was endorsed by the Boston Tea Party, a libertarian party formed in 2006 with a one sentence platform that supports, “reducing the size, scope and power of government at all levels and on all issues, and opposes increasing the size, scope and power of government at any level, for any purpose.” However, there is no word as to the number of people that participated.

Not long after this “virtual” “tea party” Rick Santelli made a statement on CNBC advocating a “tea party” against Obama's planned “mortgage bailout.” This statement was quickly dubbed the “Shout Heard 'Round the World” and led to many people planning “Tax-Day TEA (Taxed Enough Already) parties” across the country. There is still debate about whether or not these groups were legitimate grass-roots or if it was “astro-turf”. Many of these groups joined together in a loose-knit association and held a protest in Washington DC in September in an event sponsored by Glenn Beck's “9/12” organization.
I did attend one of these “TEA party” events shortly after moving to Myrtle Beach, SC only to find that the attendees and speakers were largely in favor of the “Fair Tax” and military intervention. I tried speaking to people about abolishing the IRS and Federal Reserve and was mostly ignored or put off, even by the “Fair Taxers” - who don't seem to mind the spending so much as the form of taxation.
On a side note; Ron Paul had a best-seller with “End The Fed!” and Dr. Thomas Woods had a bes-seller with “Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse.” Also, two grass-roots tributes to the Ron Paul Presidential campaign were released. “Songs of Freedom: Tales From the R(3VOL)ution” - a collection of poems, short stories and essays – was released in the spring, was chosen as August Book of the Month by the Freedom Book Club and has been submitted for several book awards, including the Ben Franklin Awards & Eric Hoffer Awards. “For Liberty: How the Ron Paul R(3VOL)ution Watered the Withering Tree of Liberty”, a feature length documentary was released in September and has been entered into several film awards festivals.

For the second consecutive year I participated in”Operation Stop Thief!” The objective of Operation Stop Thief is to educate people about the scam known as the Internal Revenue Service. For instance, what would you say if I told you that the Grace Commission in 1984 issued a report that in part stated “100 percent of what is collected (by the IRS) is absorbed solely by interest on the Federal debt...all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from their Government.”? Wouldn't you feel betrayed? Of course you would. How about if you found out that 56.14% of the 2007 Federal expenditures were outside constitutional authorization? I know, most people don't care...that is exactly why you should!

Not to be forgotten is the crew of “The Motorhome Diaries.” A pair of freedom movement activists (accompanied by a “fellow-traveler”) that set out on a journey to “find freedom in America” only to find the “Police State” alive and well in Jones County, Mississippi. This along with the “Sam Dodson incident” and the MIAC report put a big black eye on the year and inspired me to form a publishing company (Free Patriot Press) with the purpose of “ensuring a FREE PRESS for the FREEDOM MOVEMENT.” After all, without a FREE PRESS there is no FREEDOM; without FREEDOM there is no LIBERTY!

The year was supposed to bring “hope” and “change”, but as we celebrate the beginning of 2010 we are left “hoping for change.” For the record, “change” does NOT mean a higher “national debt” (owed by the government, not the people), increased military presence in foreign countries, an increased money supply, more government involvement in “health care”, renewal of the PATRIOT Act or any other program that increases the size or scope of the government.

Person of the Year: No Real Honor

Since 1927 Time magazine has been “honoring” a “Person of the Year”, originally called the “Man of the Year” until 1988. During the last 82 years the “honorees” have ranged from Gandhi to Hitler and Charles Lindberg to the abstract “you”. Time claims that the selection goes to “that person or that thing that has influenced the news the most in the past year. For good or for ill.” and adds, “It's not an honor, its not an award; it goes to the mover and shaker of the news.”
“The person...that has influenced the news...the mover and shaker of the news.” That is an ambiguous criteria, as Time magazine helps determine who gets publicity, which influences the “news” covered by the “mainstream media.” Using Time's criteria, the CEO of Time could potentially be “Person of the Year. How about the Bilderberg Group, CFR, Trilateral Commission or any number of secretive societies of powerful elite?
Is it any coincidence that with three exceptions; Calvin Coolidge, Herbert Hoover and Gerald Ford; every sitting President of the United States has been a Person of the Year at least once with FDR being selected 3 times (1932, 1934 and 1941)? Some of the more infamous honorees include Adolf Hitler (1938), Joseph Stalin (1939 and 1942), and the Ayatollah Khomeini (1979). It is no wonder that Time says “Person of the Year” isn't an “honor”, yet every year they continue to give someone the designation.
The distinction in 2009 went to Federal Reserve Chairman Ben Bernanke. I've been familiar with Ben Bernanke for so long I honestly do not know if he's a “household name”, but I doubt the average person is aware of Mr. Bernanke. Time magazine was at least honest enough to call him “the overlord of the economy” in a video published on their site announcing his selection. Time's story does tell the truth on a few details, “those green bills featuring dead Presidents are labeled "Federal Reserve Note" for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates — which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet.” Time claims the Federal Reserve was passive in the 1930's, CAUSING the Great Depression and “Bernanke...was determined not to be the Fed chairman who presided over Depression 2.0. So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation.”

Time magazine's “Person of the Year” is indeed no “honor” and in my most humble opinion should be discontinued.

Freedom Summit 2009

This past weekend (December 3-6, 2009) I attended the Freedom Summit, hosted by Ernest Hancock and Mar J. Victor, in Phoenix, Arizona. Two days before the Summit, Ernest Hancock and Freedom's Phoenix hosted a premiere of “For Liberty: How the Ron Paul Revolution Watered the Withered Tree of Liberty“ at the Valley Art Theater. I must say, this is one of the best documentaries and the best full-length political documentary I've ever seen. The night before the Summit began, a “Pre-summit debate” involving many knowledgeable and well-known men in the Freedom Movement. The debate topic was originally “anarchy vs. minarchy” but was changed, close to if not at the last minute, to “What if the US Constitution was replaced...with nothing?!?” Slightly different than most debates, where each side presents an argument and then rebuttal, each man gave his views in a very civil way, after which there was audience Q&A.
One of the recurring themes, from both minarchists and anarchists, was that pure anarchy; whether that be in the form of voluntaryism, anarcho-capitalism, anarcho-communism or any other version; is only a dream and unlikely to be achieved. Minarchy, the belief in small government, was also commonly accepted as unlikely. Professor Butler Shaffer regularly asks his students to write “constitutions” to which he plays “court” and shows that no matter how “restrictive” a constitution is, it can always be interpreted to lead to a large government. He cited an example where a student had written a constitution that only gave the government the authority to “regulate time”. Professor Shaffer argued that it could be interpreted that the government could regulate how one spends a portion on his/her time and over time; the government would be regulating almost everything.
Another speaker offered an example of two “societies” - assuming there were only two groups of people; those in our meeting room and those in the joining room. Our room (Society A) has a voluntaryist society, anyone is free to leave or join as they wish, with a constitution that states simply “Article 1: no person shall initiate force against another person. Article 2: This constitution can not be amended.” This simple constitution drew a rousing round of applause. The other “Society B” had no rules or rulers – a true “anarchy”. He hypothesized, that over time, “Society A” with it's simple constitution would lead to tyranny. He explained it could be decided that a bureaucracy would need to be created to ensure no one aggressed against anyone else. The Non-Aggression Bureau would be given the authority to initiate force, since the Bureau would be a “group” not an individual. However, you're free to leave and join “Society B”, which has no rules or rulers, but may not be any more free.
After this “debate” a group which included Tom Woods, Adam Kokesh, “The Liberty Rider” Michael Maresco, Catherine Bleish, myself and others went for an after-debate meal at Denny's; where we decided that we, as anarchists and libertarians, would all prefer to live in “Society B” since we all subscribed to the “non-aggression principle”.
On another note, Tom Woods created the “Austrian Slam” using Denny's “create your own grand slam” menu option. The “Austrian Slam” is served with eggs, pancakes, sausage & an English muffin. Adam Kokesh claims that Tom made the decision because it gives the most food at the most economically advantageous price. I'm not disputing the economical advantages, but this claim wasn't made publicly by Dr. Woods, nor was the claim that if “every person ordered this combination, Denny's would be bankrupt in three months.” These are, to the best of my knowledge statements made in jest by Adam Kokesh, a man that ate TWO T-bone & egg platters.
As the Summit officially kicked-off, Marc J. Victor gave everyone sound advice for “surviving” an encounter with the Police. That advice included the wise advice to NOT answer ANY questions; after all, you have a RIGHT TO REMAIN SILENT! The second best advice is to make sure you know if it's a voluntary or involuntary interaction with the Police, and always be sure you know when you are free to leave the interaction. Marc was followed by Charles Goyette, author of “The Dollar Meltdown”, who gave a wonderful speech.
The highlight of the day was, not only the speech by Dr. Ron Paul just before lunch, but seeing Dr. Paul participate in some “street activism” with a “sign wave” on the street corner outside the Sheraton Crescent and the opportunity I hd to present him with the Free Patriot Peace Prize, for actively supporting the belief "that no one has the right, under any circumstances, to initiate force against another human being for any reason whatever; nor advocate the initiation of force, or delegate it to anyone else."
The day continued with many good speakers (John Taylor Gatto, Butler Shaffer, Judge John Buttrick) and a dinner concert by Jordan Page and a speech by Tom Woods. After dinner the Ladies of Liberty Alliance (LOLA) hosted an open bar fund-raiser that lasted well into the night. The successful fund-raiser allowed LOLA to raise enough money to ensure they could go to C-PAC in the spring.
The last day of the Summit opened with a speech by Boston T. Party (aka Ken Royce) who encouraged people to find ways to remove themselves from “the grid.” And continued with speeches by Joel Skousen & Bud Burrell. After lunch, Congressional candidate & Iraq veteran Adam Kokesh gave a rousing speech and announced his pledge and challenge to only accept a portion of the Congressional salary equal to the national average income, approximately ¼ the current Congressional salary.
The Summit ended with a presentation by Stewart Rhodes, founder of Oath Keepers a “non-partisan association of currently serving military, reserves, National Guard, veterans, Peace Officers, and Fire Fighters who will fulfill the Oath to support and defend the Constitution against all enemies, foreign and domestic” and will refuse to follow any unconstitutional orders.
On a side note, I was able to sell the 18 copies of “Songs of Freedom: Tales From the r3VOLution” that I brought; I could have sold more, had I had more copies with me. All in all, a very informative and successful weekend for the Freedom Movement and the cause of liberty.

Ron Paul at the End The Fed! Rally in Houston

This past Sunday (November 22) marked the second annual End The Fed! rally; with rallies taking place in 39 cities around the country.

Representative Ron Paul was on-hand in Houston; I'd like to thank my friend Tessa (aka TrinityTexas) for the video of Dr. Paul's tremendous speech.

Free Patriot Peace Prize Winner

November 1, 2009

It is with great honor that I announce Ron Paul as the winner of the First Annual Free Patriot Peace Prize.

Dr. Paul has been an active supporter of the non-aggression principle, and as a Congressman, is possibly one of the highest ranking officials to actually support his principle, "that no one has the right, under any circumstances, to initiate force against another human being for any reason whatever; nor advocate the initiation of force, or delegate it to anyone else."

Dr. Paul will be presented with the Free Patriot Peace Prize at the Freedom Summit in Phoenix, AZ over the weekend of December 4-6,2009




Sincerely,
Darryl W. Perry
2016 candidate for President of the United States of America
http://dwp2016.org
At-Large Representative Boson Tea Party National Committee
http://BostonTea.us
Managing Editor Free Patriot Press
http://FreePatriot-Press.com

No Reason to be Confident in the Banking System

Rasmussen Reports recently released polling data stating “One-out-of-two Americans (50%) still lack confidence in the U.S. banking system...the figure includes 39% who are not very confident in the U.S. banking system and 11% who are not at all confident...Just 44% of adults now are confident in the U.S. banking system...39% who are somewhat confident and just 5% who are very confident.”
Rasmussen also reports, “these findings come despite the government’s spending of billions in taxpayer funds to bail out the ailing financial industry since last September’s Wall Street meltdown. Perhaps this skepticism is due in part to the continuing belief by 78% of Americans that Wall Street benefited more from the government bailout than the average U.S. taxpayer did. Only 8% say the taxpayer benefited more.”

It would be interesting to see the results of a poll asking if people ”trust” the currency in use – after all, the currency and the baning system are related. it would also be interesting to see just how many adults will admit to knowing that the Federal Reserve is a Private Bank, the Fed prints fiat currency, and he currency is further devalued via fractional reserve banking.
The Federal Reserve claims, “to provide the nation with a safer, more flexible, and more stable monetary and financial system.” Yet, “throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy.”*
On top of the 95% decrease of the value of the dollar, the Federal Reserve has nearly doubled the money supply in the past two years cutting the value of the dollar in half. I know I've said it before, so please forgive me for repeating myself, but it deserves to be repeated; legal tender laws – in addition to the Federal Reserve Acts – have forced the use of fiat currency. Anything less than a 100% commodity based currency is a fraud. This includes the use of fractional reserve banking and the Gold Standard. Because as soon as the dollar (or any other commodity backed currency) is fractionally reserved, it is no longer 100% commodity based, it becomes a fiat currency.

The quickest way to return to a commodity based system is to find businesses that will allow you to barter, and eschew the “system” altogether. The next best thing would be for Congress to pass the "Honest Money Act" that would repeal the legal tender law; the "Free Competition in Currency Act" that would repeal the government monopoly over the creation of coins for use as currency; & the "Tax-Free Gold Act" that would prohibit federal and state taxes on precious metal coins and bullion.

After all, with a fiat currency, there is no reason at all to trust the banking system. As more people are educated about the corrupt fraudulent system in place, the better the chances of returning to commodity based currency and a system that can be trusted.


*Ron Paul (February 26, 2009)

Voting for the Free Patriot Peace Prize

Voting ended at 11:59PM EDT October 31, 2009

The 2009 nominees were:
# Ron Paul
# Cindy Sheehan
# Cynthia McKinney
# Iraq Veterans Against the War (IVAW)
# Sam Miller (aka Sam Dodson)
# Gary Franchi
# Aaron Russo
# Darryl Perry
# Mohandas Gandhi

Review of "End The Fed"

Never before have I read a book that starts out by stating, “Why you should care”; but that is exactly what Dr. Paul does with “END THE FED”. He explains that the Federal Reserve has been given almost absolute power, unchecked of course, over the entire economy with little concern from Congress. Not only does Congress not care about the power of the Federal Reserve, they encourage the Fed to continue involving itself in the economy. “The Federal Reserve System must be challenged,” Paul writes, “Ultimately it needs to be eliminated...No single institution in society should have power this immense. in fact, I believe that freedom itself is at stake in this struggle.”
Dr. Paul continues by telling of the creation of, as G. Edward Griffin calls it, “The Creature From Jekyll Island”. Which, most libertarians are aware, was formed by a small group of powerful bankers who had convinced the government that a “central bank was needed to stabilize the currency.” Something the Fed has failed to do in nearly 100 years, thanks in part to fractional reserve banking, fiat currency and artificial manipulation of interest rates. A “dollar” is now worth approximately 5% of it's value in 1913, when the Fed was created; does that sound like a “stabilized currency” to you? It doesn't sound very stable to me, either. Devaluing a currency, as the Fed has done, is nothing less than fraud; just as adding water to a gallon of milk is fraud. Something Dr. Paul learned about early in life working on the family dairy.
Aside from his work on the family dairy, he credits a job with the Pittsburgh Press as helping him become interested in coin collecting. With coin collecting helping him understand the value of money. This led him later to study Mises, Hayek, Murray Rothbard, Hans F. Sennholz and Austrian Economics. it was his study of Austrian Economics along with Richard Nixon's “We're all Keynesian, now”statement and the removal of the Gold Standard that led him to become involved with politics.
Before going into details of his involvement with the Gold Commission and his interactions with Fed Chairmen; Dr. Paul spends a chapter explaining how central banks, all central banks not just the Fed, enable, encourage and fund wars, both legal and illegal, just and unjust. For the most part, all countries throughout history have been limited in how wars are financed; mainly due to have commodity based currencies. But, thanks to the advent of central banking, a government could just turn to the bank and request a large sum of money to fund whatever perceived evil lurked around the corner. The bank complies and expands the currency, reaping the benefits, and passing the cost on to the “little guy” or even worse, a future generation.
During the final days of President Carter's administration, a bill that was co-authored by Ron Paul and Jesse Helms was signed into law creating the Gold Commission. Possibly the most significant action of the Commission was a recommendation that Congress authorize the US Mint to mint a gold coin. The Congress actually authorized 4 coins; 1 ounce, ½ ounce, ¼ ounce and 1/10 ounce. These coins were minted with a legal tender face value, which has only compounded the problems associated with legal tender laws, which need to be repealed as much as the Fed needs to be abolished.
If the first third of the book was good, the last two-thirds is great!
Dr. Paul goes into detail, with transcripts of conversations he's had with both Alan Greenspan and Ben Bernanke. Of the two, at least Greenspan understands, or knows, the arguments for a Gold Standard. Yet, somehow, has lost the knowledge he had in the 1960's when he wrote an essay titled “Gold and Economic Freedom.”
After writing about his “Conversations with Greenspan” and “...Bernanke”; he explains why Congress should be interested in monetary policy. One reason being that bad money and unjust taxation, including inflation, encourage the “black-market”. “By destroying money and fueling the growth of the state,” Paul writes, “the institution of a central bank is the biggest generator of underground criminal activity ever.”
He goes on to explain “the current mess” and the Fed's “solution” of throwing more money into the market as being similar to “adding more poison to a poisoned patient amounts to a cure.” And, “the current path is prolonging and extending the pain – while causing a slow death dressed up in fancy clothes.”
“Why End The Fed?” Dr. Paul explains, “The Federal Reserve should be abolished because it is immoral, unconstitutional, impractical, promotes bad economics and undermines liberty. its destructive nature makes it tool of tyrannical government.” The Fed has caused more “bubbles” than would have ever happened had a free market system of competing commodity-based currencies been in existence. In fact, inflation would be mostly non-existent without the Fed.
In the final chapters, Dr. Paul gives a Philosophical, Constitutional, Economic and Libertarian Case for abolishing the Fed. While each of these arguments is slightly different, they are also very similar. In short: The Fed creates inflation; inflation steals wealth from anyone who had saved some of their earnings; theft is illegal, immoral, and unjust. I'm reminded of a quote from Frederic Bastiat, “When law and morality contradict each other, the citizen has the cruel alternative of either losing his moral sense or losing his respect for the law. These two evils are of equal consequence, and it would be difficult for a person to choose between them.”
In the end, Dr. Ron Paul explains “The Way Out.” But, in an effort to not play the role of “spoiler” I will refrain from giving any details and end the same way Dr. Paul was greeted by 10,000 people when his “Rally for the Republic” speech began, with hopes that one day we can...“END THE FED! END THE FED! END THE FED!”

In Support of Honest Money

Something amazing has happened in the last 2 years. Ben Bernanke has become a household name, ten thousand people filled the Target Center last year chanting “END THE FED! END THE FED!”, thousands of people have been attending rallies with signs with the slogan, “End the Fed” and a book of that name is a best seller. Not to mention, recent polls show that nearly 80% of Americans support an Audit of the Federal Reserve. While that may seem amazing to most people, what I find amazing is that the main stream media is somehow oblivious to these facts. Sure they mention Bernanke and the Fed (briefly) but they miss the big picture: Central Banks cause inflation! If you don't believe me, just read the Education Section of the Federal Reserves website:
“The Fed is best known for its role in making and carrying out the country's monetary policy - that is, for influencing money and credit conditions in the economy to promote the goals of high employment, sustainable growth and stable prices. The Fed does that by maintaining inflation at a rate that does not affect business or household spending decisions.

What happens when money and credits rise?
Inflation is caused by excess growth of money and credit relative to the supply of goods and services in the economy. Money includes cash in circulation, plus the deposits that people and businesses have in bank accounts; credit refers to the funds that banks and other lenders can lend. The Fed must make sure that money and credit don't grow too rapidly or slowly.

How does the money creation affect interest rates?
The Fed changes the money supply by increasing or decreasing reserves in the banking system through the buying and selling of securities. The changes in the money supply, in turn, affect interest rates.” (emphasis added)

You read that correctly, the Fed ADMITS to causing inflation, although they define it slightly differently than it should be, they insert the word “excessive”; inflation is actually ANY growth of the money supply, which the Fed controls by use of a printing press, computer and the ability to make policy as to the rate of fractional reserve banking.

The legal tender law forces the use of a fiat currency – a currency not backed by a commodity. The “dollar” (FRN) used is not backed by a commodity, but rather, according to the US Treasury, “The (Federal Reserve) notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy.”

The Federal Reserve is guilty of theft and fraud as a legalized cartel that controls the money supply of the country, and to a lesser extent, the world. We need to pressure Congress to not only “Audit the Fed”, but to ultimately “End The Fed” and pass: the "Honest Money Act" that would repeal the legal tender law; the "Free Competition in Currency Act" that would repeal the government monopoly over the creation of coins for use as currency; & the "Tax-Free Gold Act" that would prohibit federal and state taxes on precious metal coins and bullion.
As long as a group of private bankers is allowed to control the currency, a people are never really free.

Rally for Healthcare Reform at City Hall in Houston, TX

Rally for Healthcare Reform at City Hall in Houston, Texas
by Ed Dickie and Tessa Kole

We show footage of Acorn getting on a bus... were they deliberately shipped to this rally? Our best guess is... probably so!!! We also have Al Green saying... "If you rob a bank and get shot out on the way out... we'll give you healthcare!!" What has this country come to?? Hope you all enjoy this!