Thread: Federal Reserve's "Quantitative Easing has not solved our problems,"

Ron Paul, "Gold is the ultimate money," Fox Business, 3/20/13 - YouTube

ALERT: Federal Reserve's "Quantitative Easing has not solved our problems," says former Rep. Ron Paul!

Fax Congress: Blast Faxes: Demand Congress Pass S. 209 and H.R. 24!

Conservative American,

The American economy hasn't recovered, the government's debt problems haven't improved, and yet the Federal Reserve believes it can "solve" these problems by simply doing more of the same: print, print, print!

We all know the definition of insanity is doing the same thing over and over again, while expecting different results. Yet, this is exactly what our Central Bank is doing!

Last week on Fox Business, former Representative Ron Paul - famous for promoting free markets, sound money, and challenging the Fed - was invited to comment on our weak economy and our imprudent Central Bank.

When asked about the effectiveness of the Federal Reserve's policy, the former Texas Rep. said:

"What we're witnessing now is the result of this wild Quantitative Easing -- pumping all the money into bonds and stocks. At the same time, we have fifty-thousand people in New York City who are homeless, forty-eight million people on food stamps, and free market economists claim -- and I tend to believe them -- that the real unemployment rate is probably close to 22%. So, this pumping and Quantitative Easing has not solved our problems."

(Select here to watch the full interview.)
Will the Fed change its failing policy willingly? Mr. Paul doesn't think so. He said, the Fed's policy is "going to change, but not because they want to do it deliberately."

The Federal Reserve will only change if it is forced to - they will only change if Congress demands them to open their doors and bring out their books!

This is exactly why Congress must pass the "Audit the Fed" bill in this 113th Congress!

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

On June 25th of last year the House of Representatives made history and overwhelmingly passed former Rep. Ron Paul's "Audit the Fed" bill 327 to 98.

Although it never came to a vote on the Senate floor, one thing is certain: never before had legislation holding our Central Bank accountable gone that far!

With the 112th Congress months gone and Ron Paul now retired from the U.S. Congress, it is time for the 113th Congress to pick up where the former Congress left off.

Good news! They already have!

That's right; former Rep. Ron Paul's legacy of pushing for an open and accountable Federal Reserve is alive in Congress right now.

The Federal Reserve Transparency Act would force the Federal Reserve to undergo a full audit and have the findings reported to Congress - the branch of government that is constitutionally responsible "to coin Money [and] regulate the Value thereof." (US Constitution, Art. I, Sec. VIII, Cl. IV).

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

Rep. Paul Broun (R-GA) and Sen. Rand Paul (R-KY) have reintroduced former Texas Representative Ron Paul's "Federal Reserve Transparency Act" word for word.

After introducing H.R. 24 in early January, Rep. Broun said:

"[M]y plan is to pick up right where Congressman Paul left off. Our economy is far from recovering, and the recent fears regarding the potential impacts of the ‘fiscal cliff' and its aftermath prove that the American people must continue to demand transparency from the entity charged with ensuring stable economic and monetary policy. While measures requiring partial audits of the Fed have become law in recent years, it's clear that current policy does not go far enough. I am honored to carry on one of Rep. Paul's legacies, as well as his efforts to advocate for a full audit of the Fed, which remains as active - and as closely-guarded - as ever."

Sen. Rand Paul - the son of Ron Paul and the 112th Congress' Senate sponsor of "Audit the Fed" - on February 5 introduced the H.R. 24 companion bill in his chamber: S. 209.

"The Fed's operations under a cloak of secrecy have gone on too long and the American people have a right to know what the Federal Reserve is doing with our nation's money supply," Sen. Paul said. "Audit the Fed has significant bipartisan support in Congress and across the country and the time to act on this is now."

We are already off to a good start: H.R. 24 already has over one-hundred co-sponsorsand S. 209 has nineteen. However, there is still more work to be done; like anything else, in order to hand this ever-important piece of legislation to the President, both chambers have to pass it.

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

Money Monopoly

The Congress created the Fed, America's third central bank, in December of 1913.

Upon the passage of the Federal Reserve Act the Congress had formally delegated their constitutional monetary responsibilities to an institution that is not a part of government whatsoever.

Although the Federal Reserve operates independently of the US Government, it enjoys full government protection - protection that established the "Federal Reserve Note," or dollar, as the only legal tender to pay "debts public and private."

Economic Turmoil

The Federal Reserve was created to end depressions (or "panics") and secure the value of the dollar. Yet, the exact opposite has been the reality.

Under the Federal Reserve System the following have transpired:

• the 1920-21 panic;
• the 1929 stock market crash;
• the Great Depression (which lasted until 1948, judging by the stock market's performance);
• the Stagflation and Depression in the late 1970 through the mid-eighties;
• the dot-com boom and bust;
• the housing boom and bust; and
• the current "Great Recession"

This is all to show that the 20th Century - the century of the Fed - has had more economic trouble than the century that preceded it.

Panics have been a fact our history, but ever since the Federal Reserve was established they have been more frequent and prolonged.

Will you tell Congress to audit the Central Bank?

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

Currency Devaluation

Under the Federal Reserve our dollar has lost about 98% of its original value through inflation; that is, the increase in the supply of money. What's as bad as the inflation itself is the reasoning behind it: the Fed doesn't see "controlled inflation" as a problem but as a "monetary tool" they call quantitative easing.

Through the destruction of the value of the only legal tender - the Federal Reserve Note - we are seeing the distortion and destruction of the economy. The middle class is shrinking in the proportion that the rich and, more notably, the poor classes are growing.

A strong, stable medium of exchange - money - is a requirement for a healthy economy. Thus, the Federal Reserve's outright destruction of the strength and stability of the dollar is the root of our troubles.

Simply put: all of the Fed's practices - easing, interest rates by fiat, etc. - actually injure the economy.

Utter Secrecy

What's as devastating as the Federal Reserve's calculated attack on the economy is that they are never challenged in any significant way by Washington; in fact, they have the privilege of operating in total secrecy, protected from any form of scrutiny.

In his 1994 book, The Case Against the Fed, the late free-market economist and historian Murray Rothbard writes:

"It is little known that there is a federal agency that tops the others in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise, its operations. The Federal Reserve, virtually in total control of the nation's vital monetary system, is accountable to nobody - and this strange situation, if acknowledged at all, in invariably trumpeted as a virtue."

To this day the Central Bank has never seen an audit. That's why it is of the utmost importance that Congress presses forward with the "Federal Reserve Transparency Act"

It's time for Congress and the American people to find out what the Fed has been doing behind closed doors; it's time we find out what the government has been doing to and with our money; it's time for the U.S. Congress to Audit the Federal Reserve Bank!

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

Let's consider the words of the Ron Paul, the man who brought this important topic to the table of national politics:

"Among all the arguments that can be used to reject the Federal Reserve, the moral argument alone should suffice. It's [inflationism is] cheating. It's [inflationism is] a tax. It's [inflationism is] counterfeiting. It benefits the few at the expense of the many. It breaks the rule of contracts. It causes suffering and punishes the innocent. It enables world wars and vast payoffs to the powerful. That should be enough for all Americans to call for the end of this ninety-[nine]-year-old failed scheme." (End the Fed, Grand Central Publishing: 200

Before the Fed turns One-Hundred this December, let's make sure it gets audited!

2013 can be the year that the House and the Senate pass legislation to Audit the Federal Reserve Bank!

Take Action and Blast Faxes to Congress! Demand that they AUDIT THE FEDERAL RESERVE BANK by co-sponsoring S. 209 and H.R. 24! It's time for Congress to END the Fed's total secrecy!

For America,

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