“Money We Can Believe In”

“As Good As Gold”

For those who lean left or right, I would have created the same currency for Bush had I thought of it then. Contrary to mainstream media belief, the Republicans were big spenders too during the Bush years. They have only become fiscally conservative to have something to counteract the Democrats with since this mostly neo-conservative Republican party has been duped into loving and supporting wars (you know who you are). How Christian of you…

Understand the Truth

I am neither left nor right in my political views. The media would have you argue left versus right politics till you are blue or red in the face. The whole time the elites of the world, including those who are in Congress, you know, the one’s you keep electing to office each year, are destroying our monetary system. It’s the monetary system that keeps things going. Congress should let the bad banks fail and we move on with a secure system. Instead, both sides of the political aisle, in the name of “saving the system” only put us further into debt and deficits.

So What’s Next?

If you are a Christian, Atheist, Black, White, Gay, Straight, you are being affected by what Congress does. It matters not who is at the top except for the executive powers they abuse.

I will create a new currency exposing the same issues for the next President if Obama doesn’t get elected to a second term, although Romneyazillion just doesn’t have the same zing to it…

The point of the Barackazillion currency is to mock our Federal Reserve System that continues to print money out of thin air in allowing Congress to pay for things (wars, deficits and national debt), thus enslaving us for years to come. This has to end! Electing a different leader doesn’t change anything!

I’ve personally used the Barackazillion to pay for a taxi ride. I convinced the driver that it was a new currency available here in the U.S. and he accepted it (I later paid cash after testing out my theories that I could convince people it is acceptable currency). This is the level we have devolved to in America. People believe anything they hear…like from the mouths of Congress and the media. In the end, Congress will do what the elitist want them to do. They’ll bail out the banks. They’ll bail out big business. They’ll have you pay for it. Why don’t you citizens here in America understand this? Why do you believe everything the media tells you to believe as if it’s Gospel? The media is complicit in what is happening too. Why don’t most of you who are glued to the television get it? Of course there are exceptions to this…more people are waking up.

Much of this analysis I do will be explained further in my forthcoming book, “We the Serfs.” I have spent the last 5 years working on this book and have put all the pieces of the puzzle together for you to understand what’s really going on in America. It is a Christian/Political book based on facts. It is also a book that those of any other religion, ethnicity or sexual orientation, will agree makes sense. Of course those in Congress and the media won’t really like it, except for a few.

This isn’t any kind of conspiracy theory either. When I say the media is complicit, I can prove it. Of course there isn’t any media in America that will allow me to explain, so I am going after those who keep the truth from U.S. citizens by mocking them. It’s rather easy for me to do you know… Naturally, creating a currency that competes with Federal Reserve Notes would not be something that Congress or the Federal Reserve would want for us citizens. That’s why they tax gold and silver at 28%. They don’t want competition to their monetary system scheme. But unfortunately, it is this scheme that cannot last, and you will be the one left without a chair at the end unless you do something now.

Solutions

Congress would not be able to do this if there was no Federal Reserve enabling them to spend more than they have available. Congress would not be able to keep spending more than they have available if there were a Constitutional amendment to constrain their spending to income earned like the rest of us have to do living here in America.

Ending the Fed and implementing a Constitutional amendment would result in the following;

• The over-spending by Congress would end
• The wars would end and lives saved
• The economy would recover

You have choices come election time. That’s what the media would have you believe. But no matter who you elect won’t change the flawed system. The rules have to change first, and we elect people who will abide by those rules. Every Congressman swears to uphold the Constitution. They simply don’t once in office. So taking away one of their tools that allows them to spend like drunken sailors is the first step. We must End the Fed. A second step is to implement a Constitutional amendment that constrains Congress with SEVERE penalties, including personal ones (loss of government pension, loss of health care benefits in retirement, etc.), if they don’t adhere to it. Without the penalties, Congress will continue to abuse us citizens like they have since 1971. Make it personal and they’ll act in our best interest rather than the elite’s. After all, it is We the People they serve.

There is of course more to it than these simple changes. Again, this will be explained further in my forthcoming book.

What happens if there are no Congressional constraints and the Federal Reserve continues to implement Quantitative Easing?

If we don’t do something that stops this madness that Congress and the Fed have become, the result will be “We the People Serfs.” It will result in the end of the greatest country’s economic system on earth. It will result in the end of our monetary system as we know it because everything Congress and the Fed does is unsustainable. It’s simple math folks…there’s a reason why our kids calculators can’t compute one Trillion….or one Barackazillion (you really do have to watch the Barackazillion video).

We must live within our means as a nation for the system to work! Everyone else has to! This is the issue…

Feel free to pass this message on to your family and friends…or, do nothing and just elect the same people into office who cater to the elite’s because they have the tools to make themselves wealthy at your expense. It’s up to you to be proactive. Enlightenment can come with a simple forwarding of this message….

Related posts:

1. We’re Winning The War On Terror!
2. Your Senate Hard at Work Spending Your Tax Dollars and Increasing the Federal Debt Again
3. America’s Infrastructure In 2009: Grade “F”

Would the media be lauding the passing of this bill that would once and for all let the American people know what goes on at the Federal Reserve, or would they let the good citizens know this bill is lacking the necessary audit of monetary policy, the one thing that could prevent the Federal Reserve from causing future busts in the economic cycle.

Leave it to the mainstream media, both sides of the aisle, to misinform. Look at the following headlines for proof positive there are big money sources working against letting the Federal Reserve cat out of the bag.

Washington Post: “Victory for Audit the Fed”

Forbes: “Ron Paul Gets His Wish – The Fed Will Be Audited”

Huffington Post: “Ron Paul Backs Fed Audit Compromise”

Source

Source

Source

Every single one of those title’s is misleading and plain wrong.

What Ron Paul Really Said

Ron Paul did not approve of the Sanders amendment.  He knew it didn’t go far enough. Sure, he would have voted for it, but the Vitter amendment was the carbon copy of the original H.R. 1207 bill that received bipartisan support in the House.  This is what Ron Paul wanted to pass, but failed to win support in the Senate.

Taxpayers are sick and tired of bailing out privileged, dysfunctional institutions that should be allowed to fail in order to stop their ability to wreak havoc on our economy.  Perpetuating these corporations at taxpayer expense is not just wasteful, it is actively harmful.  It would be good to know what went on in the past, but what about accountability in the future?  A one-time disclosure now will not do us a lot of good down the road when the cycle repeats itself and friends of the Fed find themselves in trouble again.

More importantly, agreements with foreign central banks are not touched by the new Sanders Amendment language.  At a time when Greece, Portugal, Spain and other countries are experiencing dire financial crises and have their hands out to the international community, we need to know if our Federal Reserve is at all involved in bailing them out.  As weary as we are of bailing out companies, the American people would not stand for bailing out entire countries. Our government is wasteful enough in its own affairs without contributing to the waste of other countries.  Yet the Fed currently has the tools it needs to do just this, and to do it in secret.

Ron Paul Source

Is anyone else putting the pieces of the puzzle together?

What are you going to do about it come November?

Related posts:

1. An Open Letter To Sellout Congressman Bernie Sanders On Auditing the Fed
2. Why Don’t The Elite Want the Fed to be Audited?
3. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t

An attempt at pulling the wool over the People’s eyes I had discussed yesterday has succeeded.   See The Federal Reserve Con Game

Don’t be fooled by the media’s attempt to sugar coat any audit with a quasi attempt like what is being pushed through Congress now and supported by the White House.

Know the difference.  Contact your senator now!

Watered Down Version Passes

It turns out, the Sanders Amendment, known as the watered down version of the original Audit the Fed bill, H.R. 1207 that passed the House in a bipartisan vote, was passed with a 96-0 vote.

The concern from those who wanted the Fed to be audited was the fact the Sanders amendment would not address monetary policy.  Monetary policy is the one thing Bernanke and the Fed have been keen on keeping out of any Fed audit bill. They succeeded.

Who Was Most Vocal Against the Original Audit the Fed Bill?

Two of the most vocal against the original Audit the Fed bill proposed by House members Ron Paul and Alan Grayson were Senators Chris Dodd (D-CT) and Judd Gregg (R-NH).  These two senators had nothing to lose with their outrage at this bill from the get go as neither of them are running for reelection in their states.

Excerpt from that video:

Gregg; You know the only thing that’s not audited is monetary policy.”

Paul; It’s the only thing that counts.”

Gregg; The only part that’s not subject to the political influence of the Congress auditing it, is monetary and open market.  Why?  Because an independent Fed is critical to a stable monetary system.

Paul; Look what you have. Where’s the stability?

Paul; The Constitution puts the responsibility of the value of the dollar on the Congress, not some secret body or international orginization to deal with our money (Paul is referring here to IMF, Special Drawing Rights to be discussed in a forthcoming article).

Result of Sanders Amendment: No Monetary Policy Audit

Good Riddance Dodd and Gregg

Dodd would have been annihilated by Peter Schiff in the Connecticut Senate race come November.  Judd was not looked upon favorably in New Hampshire.

What I really ponder is what hidden deals have these outgoing Senators have made with their corporate masters in setting up the next leg of their careers.  You can bet they will somehow be taken care of.

Please note that Senator Brown from Massachusetts voted with the Democrats….again.  Talk about your one time Senator.

Defeat Can Only Lead To Victory

In the end, the failure of the Vitter amendment to pass is not going to stop me from going after those who voted “nay” to this bill.  These people need to be voted out of office.  They are allowing an entity that is quasi-government in nature to garner more and more power while at the same time causing the bust to begin with.

At some point this will come crashing down on all of us.

Will I be writing an article at that point in time telling everyone “I told you so?”  The answer is no.  Why?  Because I’m going to be doing something about it now in completing my book “Fed Up!” with the intent of waking people up to what’s really going on with Congress and the Federal Reserve.

Don’t Vote for Any of Those Who Voted “NAY” Below Come November – Throw the Bums Out!

Grouped By Vote Position

Related posts:

1. An Open Letter To Sellout Congressman Bernie Sanders On Auditing the Fed
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t

While people have laughed at former President George Bush’s attempt in getting a quote right in the above video, it looks like Bush is also wrong in saying “you can’t be fooled again.”

Are we Americans getting fooled again? If so, by whom?

To answer these questions, take a look at what’s been going on at the Federal Reserve that past few years and see how their quest for more power and control is just an attempt at fooling the American public into thinking they have everything under control.  In reality, the Federal Reserve has brought us to the brink of collapse.  You just can’t see it yet.

RECENT HISTORICAL PERSPECTIVE OF FEDERAL RESERVE QUEST FOR MORE POWER

3/29/2008 -Bush Proposes More Power for Fed

On March 29th 2008, the Bush administration proposed a sweeping overhaul of the way the nations financial industry would be regulated, including recommending more powers for the Federal Reserve.

The Fed would become the government’s “market stability regulator,” given sweeping powers to gather information on a wide range of institutions so that Fed Chairman Ben Bernanke and his colleagues could better detect where threats to the system might be hiding.

7/30/2008 – Congress Votes To Keep People in their Homes

Shortly after this Bush proposal, Congress, in a bipartisan effort, passed Nancy Pelosi’s bill, H.R. 3221, the Housing and Economic Recovery Act of 2008.  The vote was 72-13, with 15 Senators not voting, including McCain and Obama.

This is the bill that was passed to keep people in their homes and try and get more individuals suckers to purchase homes with only a 3.5% down payment through an FHA program.  People who bought homes at the wrong time are thus rewarded and people who don’t have the wherewithal of knowing when is the best time to buy real estate were given free gifts from the U.S. taxpayer.  The rest of you paid for it.

Embedded in the Housing and Economic Recovery Act was the first granting of power to the Federal Reserve under Sec. 1118.

CONSULTATION BETWEEN THE DIRECTOR OF THE FEDERAL HOUSING FINANCE AGENCY AND THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TO ENSURE FINANCIAL MARKET STABILITY

9/23/08 – Stock and Real Estate Market Continue To Fall

As the stock and real estate markets continued to fall, on September 23rd, 2008, Treasury Secretary Paulson and Bush appointee Federal Reserve Chairman Ben Bernanke went on the record urging Senators to pass some sort of rescue plan with the intent of giving the Federal Reserve even more power to manipulate the markets.  In reality, it was the Federal Reserves  manipulations to begin with that was causing the market turmoil as Thomas Woods pointed out in his book, “Meltdown.”

Thomas Woods takes the Austrian economic approach as to why the markets failed.  In a nutshell, the Fed kept interest rates too low for too long rather than let the free market dictate.  This encouraged/fooled businesses into taking on more credit, expanding the boom period, which was followed by the inevitable bust we are experiencing now when the carpet was pulled from underneath them.

Only the pompous folks at the Federal Reserve would have the gall to ask for more power while causing the bust to begin with.  The fact that many in America don’t see the connection; “Fool me once.”

The housing and stock market continued to fall in 2008 despite the attempt by Congress and the Fed collusion in helping homeowners.  Certain derivative bets were falling apart causing the collapse of Bear Stearns, Lehman and AIG and threatening many other financial institutions while investors were running to Treasuries for safety.

Paulson, Bernanke Urge Senators to Pass Rescue Plan

10/08/2008 - “Emergency, Emergency” Gomer Pyle the Paulson, Bernanke, Geithner Show

Congress passes the H.R. 1424 – Emergency Economic Stabilization Act of 2008 aka TARP.   Almost all Democrats and 47 Republicans voted for this bill.

On a side note, does it make sense to vote for those who are in favor of such bills that would threaten the system?  Why not vote them out?  But you may not be convinced yet as to the reasons why they need to be voted out.  Digging deeper might shed some light.

This Emergency act gave the Federal Reserve even more power to stabilize the financial markets through the purchase of troubled assets:

TROUBLED ASSETS- The term ‘troubled assets’ means–

(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and

(B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.

If you own a flower shop or local restaurant and business has slowed down to a halt because of the economy, you are not deemed necessary to financial market stability and failure is your only option.  If you have given millions to politicians on both the left and the right showing loyalty to the Parties in charge, you’re allowed to survive.

Who Allows Your Business to Survive?

The Financial Stability Oversight Board was established under this bill to decide which assets were deemed troubled.  This Board is comprised of–  (1) the Chairman of the Board of Governors of the Federal Reserve System;  (2) the Secretary;  (3) the Director of the Federal Housing Finance Agency;  (4) the Chairman of the Securities Exchange Commission; and  (5) the Secretary of Housing and Urban Development.

Congress Is Assured Transparency and Disclosure by the Fed

This bill was also supposed to make the Federal Reserve provide some sort of transparency so the public could see what shenanigans the folks at the Federal Reserve were up to.

SEC. 114. MARKET TRANSPARENCY.

(a) Pricing- To facilitate market transparency, the Secretary shall make available to the public, in electronic form, a description, amounts, and pricing of assets acquired under this Act, within 2 business days of purchase, trade, or other disposition.

(b) Disclosure- For each type of financial institutions that sells troubled assets to the Secretary under this Act, the Secretary shall determine whether the public disclosure required for such financial institutions with respect to off-balance sheet transactions, derivatives instruments, contingent liabilities, and similar sources of potential exposure is adequate to provide to the public sufficient information as to the true financial position of the institutions. If such disclosure is not adequate for that purpose, the Secretary shall make recommendations for additional disclosure requirements to the relevant regulators.

11/11/2008 – Federal Reserve Gone Wild

Instead of transparency and disclosure, we ended up with the Fed refusing to disclose anything to anyone.  If any other entity did this, the media would be all over it exposing such a con.  Where is the media exposure?  The media for the most part has been silent, but there are some people reporting what’s going on daily. While others are doing their part to expose the truth. and the Campaign for Liberty keeps folks on track offering their own transparency of Congress and the Fed.

For the most part, who really believes Bernanke and the Federal Reserve would abide by any rules set forth to begin with?  Did the congressmen and women who voted for it believe the words of Paulson and Bernanke?  Did they even read the bills they passed into law?  The self interest of these folks is evident by their actions.  But for whose benefit, yours?

“Just the Facts”

“Fed Defies Transparency Aim in Refusal to Disclose [$2 Trillion in taxpayer loans to banks]

“The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.” … “Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.” … ““The collateral is not being adequately disclosed, and that’s a big problem,” said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. “In a liquid market, this wouldn’t matter, but we’re not. The market is very nervous and very thin.”” … “Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure.” … “The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the Great Depression.” … ““It’s your money; it’s not the Fed’s money,” said billionaire Ted Forstmann, senior partner of Forstmann Little & Co. in New York. “Of course there should be transparency.”” -By Mark Pittman, Bob Ivry and Alison Fitzgerald; Bloomberg

But it’s not just 2 Trillion the Fed is playing with.  They have managed to put the U.S. Taxpayers at risk for $9.7 Trillion in future pledges, or as Bloomberg put it, “enough to pay off more than 90 percent of the nation’s home mortgages.”

The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve.

Bloomberg along with the NyTimes ended up suing the Fed to get full disclosure.

A federal judge in Manhattan ruled in Bloomberg’s favor last November, and a three-member panel of appellate judges upheld that ruling in March. But last week the Fed asked the full United States Court of Appeals for the Second Circuit to take up the case.

The Fed will go to all ends to keep the truth from U.S. taxpayers.  These same Congressmen and women who gave the Fed more powers through the bills described above are still at it today pulling the wool over your eyes by offering a watered down Audit the Fed bill instead of the original version offered by Alan Grayson and Ron Paul.

The Truth Be Known – It’s All a Con Game

When an investor makes a decision on buying company A over Company B, they do their due diligence, look at each companies financial balance sheets and make an informed decision as to whether to put their hard earned money into the company in anticipation of seeing it grow in value.

Those who are more adverse to risk, like many seniors these days, will put their money in Treasuries and assume the small amount of interest they receive will go towards paying their bills and keeping pace with inflation.

What would an investor or senior do if they didn’t have access to a companies balance sheet or didn’t know anything about the assets on the balance sheet?  Would they invest?

Well guess what folks…if you have money in a bank, money market or in Treasuries, you don’t know what’s in the Fed’s balances sheet and you are that investor. But after some digging, I did find what’s in the Fed’s wallet.

The Federal Reserve’s Balance Sheet

Since 1971, the Federal reserve has kept a balance sheet consisting of about 70% in U.S. Treasury Securities as seen in the chart below.

That started to change towards the end of 2007.  By the end of 2008, the Federal Reserve had approximately 22% in Treasuries, a 48% decrease in the levels experienced the last 40 years .   Are seniors aware of this?  Is anyone?

Author Peter Stella: Monetary and Capital Markets Department

Just What Are the Assets the Fed Carries on Their Books if Not Treasuries?  Are They Safe?

Take a look at the following chart and you’ll see that instead of Treasury Securities, 78% of the Federal Reserves balance sheet consists of approximately $2.2 Trillion of all those assets they’ve been accumulating under the TARP program thanks to Congress giving them the authority to do so.

For better viewing click here (will open in new window)

Perhaps some of you reading this today feel safe with your investments believing Bernanke and the Federal Reserve have indeed pulled us out of this recession.  But if you really sit down and analyze the green shoots pushing the stock market higher, they are fueled only by the false hopes provided by government spending.

Whether it be cash for clunkers, appliances, homes or buyouts of failed institutions, they are the same false hopes the Federal Reserve provides time and time again, the hopes that turn to fear and despair as the inevitable bust arrives.

Don’t expect anything different this time around except a harder fall.  Just look at the Fed’s balance sheet for proof.  Then add to that Fannie and Freddie’s future obligations.

Sorry GW…you can get fooled again and thanks a bunch for making sure of it. But you don’t have to be fooled twice…

If you want to see an end to this Congressional and Federal Reserve madness then you must contact your senators now and have them vote YES for Congressman David Vitter’s amendment which contains the Audit the Fed language that passed the House last fall.

Don’t be fooled by the media’s attempt to sugar coat any audit with a quasi attempt like what is being pushed through Congress now and supported by the White House.

Know the difference.  Contact your senator now!

No related posts.

Perhaps CNBC’s agenda today was to discredit Ron Paul’s appearance in the morning where he debated former Fed governor Mishkin and Senator Gregg on his Audit the Fed bill, H.R. 1207 with 317 bipartisan cosponsors and 79% of the People wanting the Fed audited.  The Senate version is S.604.

Since Ron Paul got the best of those two during that morning CNBC interview, perhaps CNBC got some flack by some powerful people and decided to bring on another opponent of the Federal Reserve being audited, the aforementioned Mort Zuckerman.

Zuckerman was telling the CNBC audience that “if the Fed raised rates it would be a disaster for the economy.”  Technically, it would be a disaster for your commercial real estate holdings there Mort, but Mort’s right, it would be a disaster for the economy.

The Fed is stuck between a rock and a hard place.

If the Fed raises interest rates too quickly to support the U.S. Dollar, it will bring the economy to a screeching halt.  Consumers, who have in the past made up 70% of GDP, wouldn’t be able to borrow.  Small businesses and big businesses alike would see their cost of doing business would go up.  But the Fed’s only option if the U.S. Dollar were to break down is to raise interest rates to satisfy their two biggest creditors, China and Japan.

Does Zuckerman Represent the People?

The reality is, Zuckerman and the Fed don’t want you to know is which banks are in trouble so behind the scenes the Fed can secure more time to bailout the troubled institutions.  It’s a good old boys network and the connections are obvious to most.  Just Google Goldman Sachs “bailout” or “bonuses” to get yourself up to date.

There have been over 130 banks that have failed this year and that’s even after the original TARP money that was supposed to go towards “toxic assets” went instead to shore up the banks cash balance sheets.

I remember going into troubled WAMU bank when Chase first said they were going to take them over and overheard a teller doing some soliciting of funds from clients and offering to pay them 6% on a CD.  6%?  In a climate that at most Treasuries were paying 3.5%?  This shows you how hard up these troubled banks really were for cash.

Earth To Zuckerman

Zuckerman though would have you believe Fed interest rate manipulation wasn’t the original cause of the crisis.  Perhaps he should read the book “Meltdown” by Thomas Woods.  While there were other reasons for the bank failures, like lending to any human with a pulse and repackaging those loans to suckers on Wall Street, it was the artificial lowering of interest rates by the Fed that originally spurred on the real estate speculation causing the boom and eventual bust cycle.

Zuckerman Wants the Fed to Get Special Treatment That the SEC Wont Even Give U.S. Corporations

Zuckerman calls the six months lag time in auditing the Fed “a very short time” that would “undermine the independence of the Fed.”

Well Mort, aren’t all corporations in America required to file Form 10-Q for quarterly reports under Section 13 or 15(d) of the Securities Exchange Act of 1934?  Don’t shareholders of banks have the right to know what’s going on with their bank, especially if it is in trouble and secretly receiving funds from the Fed?   Then why shouldn’t the People of the United States also know what’s going on with the one entity that destroys the purchasing power of the U.S. Dollar?

Zuckerman Believes the Fed Is Our Savior.

Transparency is something that Zuckerman would have you believe is only for others, not for the elite.

Zuckerman wrote an article two days ago for the Financial Times called; “We must safeguard the Fed’s independence.”

He glorifies the Fed for getting us out of the financial mess when in fact it was the Fed that got us into this mess to begin with.  He even goes so far to say;

“The House proposal seeks to have the General Accounting Office audit all Fed operations, including emergency lending, dealings with foreign central banks, aid to major institutions and the Fed’s ability to drive down interest rates by intervening in bond markets.” (emphasis added)

This is exactly why the Fed needs to be audited.  If they were truly trying to prevent unemployment, by following their mandate of full employment, then they would let the free market do what it does best; weed out the bad companies by allowing them to fail and let the good companies prosper without government regulations and interference.  The free market will weed out those companies that don’t perform as expected.   What Zuckerman is afraid of is the Audit the Fed bill will weed out the bad institutions, including the Fed!

Zuckerman goes on to say;

“Markets would reckon that US inflation would lead to higher interest rates. There would be pressure on the dollar, as investors back away from buying Treasury debt. Given the deficit, we are facing a run on the dollar that would be disastrous.”

Thanks Mort, for explaining what is going to happen in our future because of the Fed!

Don’t buy U.S. News and World Report.
Don’t buy the New York Daily News
Audit the Fed and make sure H.R. 1207 is a stand alone bill and not attached to a bill that gives the Fed even more powers.
Call your Senators and request they pass S.604.

Related posts:

1. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Why Don’t Limbaugh and Hannity Support Ron Paul’s Bill to Audit the Fed?

Why would these two pro-conservative, highly influential media pundits not say one thing about the Audit the Fed bill winning a vote in the Financial Services Committee to be included as part of another bill?  This is big news and has a real impact on our economy if it passes.

75% of Americans want this bill to pass and only 9% opposed it.  15% were not sure how to vote and I would speculate this is because they really don’t understand the Federal Reserve and what it does.  Most in America don’t.

I’ve been asking Limbaugh and Hannity since July as to why they don’t support the Audit the Fed bill and they continually refuse to bring up the subject to their listeners who follow their every word.

Why don’t they support the bill?

Because it would allow the monitoring of the one entity that allows the neoconservative arm of the Republican Party to fund their beloved wars and Congress to continually spend what they don’t have.  And not to leave out the neo-liberal arm of the Democrat Party as they love war too, there was also no mention of the Senate Finance Committee vote by Rachel Maddow, the Keith Olbermann Show (who had a guest host), or Joy Behar.

No Mention By the Media, So What Would an Audit of the Fed Actually Accomplish That Makes Them So Afraid?

It is the Audit of the Fed that is necessary to keep the Fed from handing out favors to connected individuals and keeping failed businesses afloat.  But it is the End of the Fed that is necessary to keep Americans from experiencing these boom and bust cycles and depreciation of our currency via inflation that really has them scared.

Auditing the Fed is the first step in taking back control from the folks who cause the problems to begin with.  Ending the Fed will guarantee that Congress doesn’t possess the tools that are turning us into serfs.

There is no way in hell the health care bill will pass if Congress had to actually use tax dollars to fund it.  There is no way in hell that our troops would be in 130 nations and we’d be fighting two wars and threatening more if Congress actually had to use tax dollars to fund them.

How is it that Limbaugh and Hannity don’t ever mention this?

How is it that most in the media don’t mention this? Why are some so upset that this bill is garnering bipartisan approval?

Watch this video and see what Senator Judd Gregg (NH) had to say about the Fed on CNBC.  He said that “one of the great strengths of our nation is an independent Fed.”  Nothing could be further from the truth folks. It is individuals like Senator Gregg that are fooling you into thinking the Fed is necessary for monetary policy.  Is it any wonder that Gregg also believes that the War on Terror and WMD are of greater concern than the deficit and voted yes on the Bush bank bailout bill.  The Fed is at the root of the problem, not the solution.

These are the people that we elected who are in collusion with the Fed as their adamant support of  the Fed allows them to continue to fleece the American public.

What would Congress be able to do without the Fed?

The only real answer to this would be, live within their means.  Wouldn’t the dollar automatically be stronger and maintain its purchasing power if this were to occur?

Does the Fed Existence Interfere With Your Freedom?

I believe that those of us who truly want personal liberty, limited government, free markets and a strong national defense will be continually pressed to follow the Limbaugh and Hannity mantra of war unless we curtail the entity that gives Congress the ability to fund wars.

It is through the exposure of Limbaugh and Hannity’s lack of support for a bill that can change the course of America forever that I hope to win over those who have been swayed away from what the Republican Platform used to stand for;  Limited Government, Fiscal Conservatism, Personal Liberty and a Strong National Defense and get them to return to their Republican roots of getting us out of wars and living within our means.

The goal here is to take back the Republican Party from those who hijacked it.

It is only through this kind of action that we can return America to what it used to be and build her back up with a strong foundation built upon a fiscally responsible Congress.  I will be going into more detail on this in my forthcoming book, “Fed Up!”

What Needs to be Done Now

The way to get the things on the right track is to keep exposing the economic weakness of the Left. But at the same time, mandating that the candidate for the Right will hold true to fiscal responsibility. Not George W. Bush fiscal responsibility, but fiscal responsibility that any educated individual can get behind.

No candidate from either party can hold to fiscal responsibility until the means to which they are allowed to spend more than they have loophole is closed. The “means” referring to the Federal Reserve.

This Audit the Fed bill would be the first step to tie the hands of all candidates, both left and right and again, is something that only 9% of Americans oppose.

Flashback January 2008

There was a candidate for President that did have all the answer of what our nation needed to do.  He was the only Republican candidate that wanted to “just bring our troops home.”  He was the only Republican candidate that understood economics and schooled John McCain on economic policy.

Yet this candidate was mocked by Sean Hannity.  He was never promoted on either Limbaugh’s or Hannity’s shows.

His name is Ron Paul.

I used to continually debate people on Michelle Malkin’s website warning them that the Republicans don’t stand a chance of winning with the same pro-war mantra that lost them the House and Senate in 2006.  This prediction came true as John McCain, the one who wanted to “bomb, bomb, bomb, bomb bomb Iran” was soundly defeated by Obama.

Now we are stuck with a nightmare of spending that if the People don’t start pressuring their Congressman soon, will lead to major problems for the dollar.

My first blog, January of 2008 was in support of Ron Paul and his “message.” The Ron Paul rEVOLution, Super Tuesday and “The Message!”

I was warning people back then as to what the Fed can do to cause harm to our nation.  The message then was about “eliminating the tool of destruction, the Federal Reserve.”  Just look what has happened since then!  Now the Fed wants even more power. Don’t let them have it!

Implore your Congressman to make sure this Audit the Fed Bill passes….or else make sure they are replaced by a Freedom Loving candidate who understands economic policy and monetary policy!  This candidate may not have the financial backing of the military industrial complex and those Wall Street and Union lobbyists, but they only need your vote.  Do your homework and find out who they are and what they stand for.  Ask questions!

For more information on asking your current Congressman questions and directing them to do what most in America want, Audit the Fed, contact them via the Campaign For Liberty website.

Hannity and Limbaugh need to support the Audit of the Fed bill to be taken seriously in their attempts at being “conservatives.”  Remember, they really didn’t say too much when Bush was doing all his spending and taking away our liberties.

Hold their feet to the fire and continually ask them why they don’t support it.  I believe I know the answer, but I’d like to finally hear for once their take on it.  It’s been over three months and I don’t expect to hear them talk about it anytime soon.

Are we supposed to believe they are in the best interest of Conservatives when they won’t advertise getting rid of the one main entity, the Federal Reserve, that is bringing down our nation?

I’ll give you the answer from Sean Hannity now….

Comment by Doug Digger Eberhardt on 8 August 2009:

I decided to join Sean Hannity’s discussion forum and ask the question why Hannity doesn’t support H.R. 1207.

Here’s the questions I asked:

Why doesn’t Hannity support the Audit the Fed bill?

I’d like to see him support it too, but I think there’s more to it than meets the eye. I wrote an article on the subject recently.

http://fedupbook.com/blog/federal-reserve/why-dont-limbaugh-and-hannity-support-bill-to-audit-the-fed/

Maybe he doesn’t want to be associated with anything to do with Ron Paul, the author of the bill?

Yet over 60% of the House supports the bill and 75% of the American people do according to a Rassmussen poll.

I’d just like to hear if anyone has heard him even talk about it…

The result? Click the following url to see:

http://docs.google.com/View?id=dd8ngkwz_5fcz9v372

For those that can’t click or can’t read it, the result was that I was “banned for life.”

I guess Hannity doesn’t like it when he’s challenged…

Audit the Fed then End the Fed!

Feel free to comment and discuss….

Related posts:

1. Why Don’t Limbaugh and Hannity Support Ron Paul’s Bill to Audit the Fed?
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Why Don’t The Elite Want the Fed to be Audited?

The bill I’m speaking of is HR 1207 (House version) the “Federal Reserve Transparency Act of 2009,” aka “Audit the Fed.” and S 604 (Senate version), “Federal Reserve Sunshine Act of 2009.”

For those not familiar with it, watch this short video of Ron Paul, who introduced the bill, discuss the reasoning behind Auditing the Fed:

The first question Limbaugh and Hannity need to answer for themselves is “how have the boom and busts that we have experienced the past few years come about?”

To understand how the Stock Market bubble (and subsequent bursting) came about, I suggest they read “Meltdown” by Thomas Woods, PhD.

Excerpt:

When the New York Stock Exchange closed on October 9, 2007, the Dow Jones Industrial Average was 14, 164.53, the highest close ever.  Thirteen months later on November 20, 2008, it closed at 7,552.29, a drop of 46.7 percent.

The personal dimensions of these busts are always used to justify government intervention, whether creating a “safety net” or drawing up new regulations aimed at smoothing out the cycle that is supposedly inherent in the free market.

But is this really so inevitable?  Is the market economy really prone to such sudden and inexplicable episodes of massive business error, or could something outside the market be causing it?  This is not just an academic question.  The American people, currently suffering as a falling tide lowers all boats, need and deserve the answer.

All politicians and our media drones talk about what to do next, they promise us ways to prevent another meltdown like the one we’re suffering through now.  If they’re going to come close to succeeding, they need to understand the causes of the business cycle.  What causes these violent sings?

If politicians are thorough and honest in seeking out a culprit, they aren’t going to be pleased with what they find at the end of the trail of crumbs.  It’s not “capitalism.”  It’s not “greed.”  It’s not “deregulation.”  It’s an institution created by government itself.”  P.63,64

Of course that “institution” Woods is referencing is “The Federal Reserve.”

For the Housing bubble it would help if Limbaugh and Hannity read “Did the Fed Cause the Housing Bubble?”

Excerpt:

The case against the Fed is straightforward: In an attempt to jumpstart the economy out of recession, Greenspan slashed the federal funds target from 6.5% in January 2001 down to a ridiculous 1% by June 2003. After holding rates at 1% for a year, the Fed then steadily ratcheted them back up to 5.25% by June 2006. The connection between these moves by the central bank, versus the pumping up and popping of the housing bubble, seemed to be more than just a coincidence. On the contrary, it looked like a classic example of the Misesian theory of the business cycle, in which artificially low interest rates lead to malinvestments, which then require a recession to correct.

It’s interesting to note that the 2008 Republican candidate for President that Limbaugh and Hannity were forced to support, John McCain, has signed on in support of the bill, one of only a few Senators thus far, as of 7/15/09.

To show the bipartisan support, MSNBC even did a segment with Ron Paul where the reporter and he were in agreement about auditing the Fed.

Auditing the Fed is what the People want and Congress needs to provide.

So why won’t Limbaugh and Hannity promote Auditing the Fed?  Is it because they never supported Ron Paul’s policies to begin with when he ran for President against their favored warmongering sons?  Policies that all of a sudden Limbaugh and Hannity back like “less spending” and “free markets?”  These media pundits never used those terms while George W. Bush was in office.

If Limbaugh and Hannity really were in the best interest of the People, they would support this Audit the Fed bill and advertise it on their radio shows so at a minimum the Republican Senators can get behind it.  If they don’t, then I’m afraid they will be part of the problem of why we end up with inevitable busts.

So to Rush Limbaugh and Sean Hannity, I only have one thing to say; “You’re either with us or against us!”

It’s also up to you to contact your Congressional representatives and get this bill passed!  They won’t know how to best represent you unless you tell them what’s on your mind….and that you’re “Fed Up!” with the status quo that gives us the same empty promises!

Need further proof that the Federal Reserve needs auditing?  Look no further than to the Fed Chairman Ben Bernanke’s strong opposition to Audit the Fed!

And while you’re at it, call Limbaugh and Hannity and ask them why they don’t support the Audit the Fed Bills:

Rush Limbaugh Radio show: 1 800.282.2882
Sean Hannity Radio show: 1 800.941.7326

To get by screener you have to do a bait and switch. Talk about the topic of the day (Obama’s health care plan), make it appealing and then say hi to your host, then simply ask the question quickly and clearly: “Why don’t you support the Audit the Fed bill?”

Be prepared for a follow-up question. They may actually talk to you!

Talking points:

*There is little to no accountability to the people on the part of the Federal Reserve.
*More than 63% of the House of Representatives support it.
*Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills.
*We pay the tab; we have a right to know where our money is going. Wouldn’t you agree?

UPDATE (and another good talking point): 75% Favor Auditing the Fed according to a new Rasmussen poll. Hat tip to Michael Nystrom at Daily Paul

Related posts:

1. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t
2. Why Don’t The Elite Want the Fed to be Audited?
3. The Ron Paul rEVOLution, Super Tuesday and “The Message!”

Congress is taking our nation towards bankruptcy because they don’t address the Evil that allows them to wage war and spend like there’s no tomorrow.  They live like kings and queens and the do so because We The Serfs don’t speak up!

Below is the letter I sent to Congressman, John Campbell of Newport Beach, California. He chairs the Budget and Spending Taskforce of the Republican Study Committee.

The purpose of the letter was to point out how his solutions are limited based on his own admissions and that to really solve the problem, the means by which Congress abuses its power must be removed.

Dear Mr. Campbell,

I listened to you on the House floor today. You’re on the right track, but you are missing a few important points. A few comments if I may….

If the government is to live within its means, congressional spending, as you say, is part of the problem. And the problem, as you point out, is congressional spending beyond their means (doubling the deficit for 2008).

This is something Congress can’t control, because again, as you mentioned, they have been doing it for the last 44 out of 48 years! Not a great track record!

The problem then lies in the “means” by which congress is allowed to conduct this spending. If we had a sound monetary system, then congress wouldn’t be able to play their spending games, including their war games. That is the bottom line.

But congress won’t cut the hand that feeds them, so there will be nothing your committee can do but either tax U.S. citizens more, or continue devaluing The People’s purchasing power via the hidden tax of inflation.

Congress IS the problem and the Federal Reserve IS the Evil that allows you the means to Pillage the Serfs.

America is headed for trouble no matter what your efforts may be to save her. The proof is in your words that we’ve only been able to do it for 4 years over the last 48! And these, most would say, were “the good years!”

If you want to help The People, then you need to cut government programs that contribute to the waste while paying off the debt….and you do it NOW!

The only way we can stop the spending madness is to take away the Evil by which they are allowed to drive us deeper in debt: The Federal Reserve.

The only way we can stop the spending madness is to take away the Evil by which they are allowed to drive our nation deeper in debt: The Federal Reserve.

Doug Eberhardt

Related posts:

1. Vote For Those That Voted “NO” To the Bailout Come November
2. The Ron Paul rEVOLution, Super Tuesday and “The Message!”
3. America’s Infrastructure In 2009: Grade “F”

Ron Paul is sly as a fox. When he decided to run for President in March of 2007, he knew his chances were slim that he would be elected. For Ron, it was more about “The Message.”

It is “The Message” that over the last year has gathered momentum and has spawned a rEVOLution which has a different meaning for every American. For some “the message” and the rEVOLution is about not following the Constitution by fighting undeclared wars. For others it’s about securing our borders and taking away the free incentives for illegal’s to come here. “The message” could be about being pro-life or eliminating the income tax. There is no one issue that applies to all, but rather an array of issues that appeal to each of us individually.

So why is Ron Paul leading a rEVOLution? The answer is simple. The Left and the Right have taken this nation to the brink of bankruptcy. The reason? Our elected representatives cannot live within their means, they spend like there’s no tomorrow, and police the world like they’ve been appointed by God to do so. But, more importantly, is “how” they get away with their actions. They do it through the hidden tax called inflation and they get away with it because Americans can’t see the immediate effect.

Allow me to explain.When one receives their paycheck each week, they feel the immediate effect of taxes being levied as they get to spend what’s left. They don’t feel the effect of inflation till they fill up their cars with gas or go to the grocery store and buy the necessities to live a comfortable life and realize that something has happened. The paycheck that used to buy all they need to live comfortably has come up short in purchasing basic necessities and there are still bills to be paid that a few years ago their paycheck covered. How can this be? The answer is “inflation.”

Inflation is simply, the increase in money supply. When the money supply is increased, you have to pay more for things. Why? Because a company has to raise their prices to maintain its wealth and overall profitability. There are also supply and demand issues as to why prices go higher, but we’ll leave that part of the equation out of this analysis for simplicity except for a few examples below.

The reason you are paying more for anything is because the Federal Reserve creates too much money allowing our government to live beyond its means.It’s easy to do when all the government has to do in receiving more money is borrow from the Federal Reserve who creates it out of thin air.

Here’s how it works, from the Federal Reserve Pamphlet, “Putting it simply…. The Federal Reserve – Federal Reserve Bank of Boston:

“The authority to print money is an important power for any government to possess, and congress has delegated that power to the Federal Reserve.Of course, along with the Federal Reserves authority to create money comes the responsibility to ensure that the money retains its value.In setting monetary policy, the Fed seeks to provide enough money to accommodate steady economic growth without upsetting the economy’s equilibrium. At the same time the Federal Reserve has a clear responsibility not to provide too much money, since a sharp jump in the money supply could upset the economy’s balance.”

How has the money supply affected inflation historically? Has their actions caused a “sharp jump in the money supply upsetting the economy’s balance?” Lets look at this chart and see. As you can see from the chart, inflation is much higher than the government’s version of it via the CPI. This chart shows you the reason why the government will no longer be publishing the M3 money supply data. They don’t want you to know about the 15% increase in M3 in the last year as John Williams from Shadow Government Statistics has calculated.

To understand this further, we must define how money works.According to the “Putting it Simply” pamphlet, the Fed says that; “For money to work in its three principal roles — as a medium of exchange, as a store of value, and as a measure of value — it must have two characteristics; 1. it must be relatively scarce, and 2. it must be widely accepted.”

So how has The Fed done? This can be answered in how weak the dollar is versus other major currencies. The U.S. dollar index, established in 1973, was trading at 122 in 2001 and today has fallen to near its all time low at just over 76. The U.S. Dollar has lost on average, over 37% versus the other major currencies in the last 7 years and even lost to historically weaker currencies like the Philippine Peso which has gained 28% on the dollar in the last 28 months alone. This is what happens when you’re the world’s largest debtor nation..

But the U.S. dollar is only part of the inflationary problem.Oil was under $30 a barrel in 2003, before the Iraq war started, and recently hit $100.Gasoline prices have doubled since 2003. Food prices have been rising in double digits and there is currently a long period of rising food prices forecast.

Inflation is a hidden tax and it is compounded by an interventionist foreign policy.

The major way we are paying for the wars we wage and our policing of the world is through inflation. Instead of paying down our debt, which now stands at over 9 trillion dollars, our armed forces are stationed in 130 different nations and currently waging two wars with a realistic threat of more.All the while, our own borders are left unprotected.

So to recap, when U.S. dollars are increased (money supply) the dollar’s purchasing power has decreased (inflation). Imagine for a moment your paycheck having 37% less over the last few years.If you felt the immediate visual effect of this inflation being subtracted from your paycheck, you’d be mad as hell and probably also shout, “I’m not going to take this anymore!” Well guess what?This HAS happened to you and you should be “mad as hell!”If this describes you, then welcome to Ron Paul’s rEVOLution and know that he not only wants to cure inflation by installing sound money principles, but he also wants to give you more of your paycheck by eliminating the income tax. Imagine the effect this would have on our economy if you were taking home MORE money and NOT feeling the effects of inflation?

But one can’t get rid of inflation and wars until they get rid of the root cause of these, the Federal Reserve. The Federal Reserve has not lived up to their promise for money to be a “store of value.”Also, money is not anymore “relatively scarce” and more and more people and countries are not “widely accepting” U.S. dollars.China, for example, removed the U.S. dollar peg in 2005 and is now pegging the Yuan to a basket of international currencies (although the dollar is still a part of the basket).. Today, the Yuan has appreciated about 14% versus the U.S. dollar since losing its 100% dollar peg.

The Federal Reserve is the cancer that has grown stemming from flawed decisions in the year 1913 under the Wilson administration when it was created. The Federal Reserve truly is the evil spoken about in the Bible, Romans 12:9 “Abhor that which is evil.” Without eradicating the Federal Reserve cancer, you can’t get rid of the inflation and wars. Ron Paul wants to eliminate the evil power held by the Federal Reserve.

How many other candidates currently running on the Left or the Right have any clue to all of this? What they will do is continue with the same garbage in, garbage out routine that will do nothing but drive our nation further into the black hole of never ending debt.

So what is “The Message?” The Message is different for each and every one of us. For many, it is a combination of issues. For some, it is only one issue that’s most important to them. All of these issues are centered on one cause which they have in common; Liberty, and one solution; the Constitution. This is what Ron Paul stands for.

By eliminating one of these Left and Right tools of destruction, The Federal Reserve, and thus inflation and the ability to fund undeclared wars, our government will have to live within its means and thus we all will have the Freedom to live a more prosperous life, maintaining our wealth and we’ll also be able to pass that prosperity on to our heirs. Isn’t this the way our forefathers envisioned America to be?

So come February 5th, we’ll have some answers about how America currently thinks. So far, by the voting that has been occurring in some states, America isn’t thinking too well. Will we continue the destructive course with continued inflation and the Federal Reserve that has our great nation on the verge of bankruptcy or will we be choosing Prosperity and Liberty by casting our vote for Ron Paul? Either way, “the message” will continue to spread and Ron Paul will be leading the rEVOLution to November and beyond.

All are invited to join!

Doug Eberhardt

Related posts:

1. It’s Not Too Late For Ron Paul!
2. Why Don’t Limbaugh and Hannity Support Ron Paul’s Bill to Audit the Fed?
3. Ron Paul Should Leave The Republican Party