Monday, April 26, 2010

Audit the Fed

Senator Specter needs a little encouragement. If you're not familiar with Ron Paul's "Audit the Fed" bill and Senator Dodd's "Fed Empowerment Act", keep reading for John Tate's (president of Campaign for Liberty) explanation. If you are already knowledgeable and want to encourage Senator Specter to use a little common sense, click this link:

http://www.chooseliberty.org/auditfed_PA.aspx?pid=pe1
(Note: It will ask for a donation after you submit the form but you don't have to do it.)

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After nearly wrecking the U.S. economy with its backroom deals and hundreds of billions of worthless fiat currency, you would think Ben Bernanke's Federal Reserve would be on every politician's target list.
But shockingly, Fed-loving senators, led by Christopher Dodd (D-CT) and backed by the Obama White House, are pushing legislation to give the Fed more power ... while stripping out Ron Paul's Audit the Fed.
Dodd's Fed Empowerment Act is now on the fast track in the Senate, but there is still time for liberty activists to expose and stop this powergrab.
More on that in a moment. Here's what is going on.
Having rushed ObamaCare through Congress, a confident White House has now set its sights on trying to ram through a so-called "financial regulatory reform" package that would continue and even expand the same practices that created this latest economic crisis.
But Congress is still reeling from the health care battle, giving the freedom movement a terrific opportunity to stop this plan to enhance the federal government's power by turning up the heat on politicians who are ever-more worried about their upcoming fate at the ballot box.
Crafted by Senator Christopher Dodd, the Senate version would create a new Consumer Financial Protection Bureau to be housed at the Fed and funded by it.
And the Connecticut senator would have us believe this agency would be "independent."
Read on to get contact information for your senators so you can take action to stop this Fed Empowerment Act.
The legislation also includes a new Financial Stability Oversight Council to "monitor" companies that supposedly could become "too big to fail."
The Council will have the ability to require nonbank financial companies to be under the Federal Reserve's supervision if the government deems they pose a "risk" to financial stability.
Showing his utter contempt for the nearly 80% of Americans who think it's time to thoroughly audit the Federal Reserve, Chris Dodd's bill also strips out the complete audit of the Fed that passed in the House financial reform bill in favor of a watered-down version that even allows the Fed to decline to disclose certain information.
To make matters worse, supposed "conservatives" like Senator Richard Shelby appear willing and ready to cave to political pressure, with The Wall Street Journal reporting that Senator Shelby's staff has proposed a plan for its own independent consumer finance protection agency to Dodd.
And in a move that is absolutely no surprise to anyone who knows his track record, Politico also reports that Senate Minority Leader Mitch McConnell has also told Dodd he can expect more Republican support if he can get Senators Shelby, Crapo, Corker and Judd Gregg to go along with his legislation.
With certain Senate Republicans once again preparing to play their usual game of hide-and-go compromise, it's up to us to advocate for an end to government intervention in the economy and fight to prevent the statists from gaining more authority.
For far too long, the Federal Reserve has wielded its control over our money with disastrous results for the value of the dollar and the security of our economic future.
Enough is enough.
Contact Senator Bob Casey at (202) 224-6324 and Senator Arlen Specter at (202) 224-4254 today and urge them to reject Christopher Dodd's Fed Empowerment Act.
Tell them that if they are serious about financial reform, they will take every opportunity to push for a standalone, up or down vote on Audit the Fed, S. 604.
It's time to finally bring the Federal Reserve's practices into the daylight - not throw on additional layers of bureaucracy!
We can prevent further government meddling in our economy, but only if we take immediate action.
Call your senators Today!
In Liberty, John Tate
President

1 comment:

camie said...

I didn't know anything about this. Thank you.