I believe I get these emails as some sort of residual effect of having been a contributing Ron Paul supporter. Quite honestly, I am so fully applied with all my endeavors that I do not often read them. But here is one I did read and want to share publicly.Anyone with financial market savvy who is either a) honest or b) dealing in causes, not symptoms knows that the Federal Reserve played a primary role in creating the moral hazards that are now hard-wired into the financial system and economy. By all means, give 'em more power with which to attempt to control events. It is no random thing whatsoever that my newsletter is called Notes From the Rabbit Hole, because we are down there among the strange characters, and it is getting stranger every day.
I'm not sure if you saw my email last week warning you about how dangerously close Congress is to empowering the Fed. Due to a backroom deal between Senator Reid and Senator McConnell, Republicans in Congress have ended their filibuster of Dodd's "Fed Empowerment" Act.
Time is running out to kill this legislation that would dramatically expand the powers of the Federal Reserve.
I sincerely hope you will take a few moments to read my message and take action to demand that your senators kill the Dodd "Fed Empowerment" Act.
- John Tate
April 22, 2010
Dear Gary,
Despite all the limited government rhetoric you're hearing from the Republican Party these days, it appears that Senate Republican leaders, including Richard Shelby, are more than ready and willing to work with Chris Dodd to empower the Fed, add more layers of federal bureaucracy to our economy, and set the stage for future crises.
According to Talking Points Memo, Shelby has stated, "We're very close to a deal and there will be a substantial number of Republicans that go along with it."
The White House is doing everything it can in the media to cram yet another powergrab down the American people's throats. A vote could come at any time, so it's crucial that liberty activists make their voices heard immediately.
Keep reading for more information on how to contact your senators.
Chris Dodd's legislation, which should be called the "Fed Empowerment Act," ignores the true cause of the recent financial downturn: interference in our economy and manipulation of our currency by Congress, the Treasury, and the Federal Reserve.
For all the talk of "change" in D.C., our elected officials are following the same tired old script: if the federal government created the problem, the only solution must be to give it even more power.
Now Senate leaders want to create a new Consumer Financial Protection Bureau, which will be housed in and funded by the Fed.
And the Dodd bill would create a "Financial Stability Oversight Council" that would have the ability to require nonbank financial companies to be under the Federal Reserve's supervision based not on their current status, but on what effect they may potentially have on the economy!
Who knows how many businesses will soon be targeted and broken up, under the guise of "reform," solely for standing up to the federal government.
Recently, Washington Examiner journalist Tim Carney has done some terrific work exposing the corporatism behind the White House's rhetoric.
To see how Obama's "reform" plan will actually benefit the big banks and Wall Street firms, especially Goldman Sachs, at the expense of smaller companies and the rest of us, click here to read his piece entitled "Goldman rallies for Obama in Wall Street 'reform'."
Don't let Chris Dodd strengthen the federal government and further entangle the Federal Reserve in our economy without a fight.
Remind your elected officials that any serious effort at true financial reform should start with thoroughly auditing the Federal Reserve.
Click here to get contact information for your senators. Tell them to reject Chris Dodd's Fed Empowerment Act and to stand up for transparency by working for a standalone vote on Audit the Fed, S. 604!
The American people have already suffered too much because of Washington's previous interference in our economy.
Together, let's take a stand for freedom and true reform by opposing the Dodd Fed Empowerment Act and pushing for a long overdue standalone vote on Audit the Fed.
In Liberty,
John Tate
President
P.S. Help us keep the pressure on Congress to completely audit the Federal Reserve! Click here to donate to Campaign for Liberty as we lead the charge for real financial reform, which starts with holding the ones responsible for the economic crisis accountable for their actions.
