Monday, June 27, 2011

Remember the Titanic?





"There is No Risk of an Economic Bubble"


DO YOU REMEMBER ???

Do you remember the "historically low interest rates" that had been manipulated by the Federal Reserve?

Do you remember the lies that we were fed from government and academia as the Federal Reserve inflated the most horrendous economic bubble since the Great Depression?

Do you remember the idiotic laughter as pundits on both sides of the political divide ridiculed the few people that tried to warn us of our coming economic troubles?

Do you remember the propaganda that we were asked to swallow as incompetent members of Congress allowed the Federal Reserve to march our country towards an economic crash?



Barney Frank in 2005: What Housing Bubble?


"The Biggest One-Day Loss in American History"

Do you remember the record bankruptcies and credit card defaults? Do you remember the sweeping layoffs as companies across the country axed thousands of employees day after day?

Do you remember how millions of people lost their homes and watched their retirement funds evaporate?

Do you remember how suited ex-banksters snaked their way into powerful bureaucratic positions so that they could scheme for taxpayer-funded favors?

Do you remember how they fear-mongered in backroom deals about the imposition of martial law if Congress didn't vote for the bailouts?

Do you remember how the stock markets continually jerked and crashed as politicians hand-picked politically connected companies to bailout while other companies drowned?

Do you remember how people across the country stepped forward in protest to rebel against the bailouts?   Do you remember the millions of calls into the offices of Congress to tell them we stood in unison against this extortion of middle class Americans?

Do you remember how Congress ignored us?



"U.S. Taxpayers Bailout Bankers to the Cost of $700 Billion"

Do you remember cringing at the headlines as the rich ex-bankers successfully lobbied for the bailouts of their rich banker buddies with your personal credit card? Do you remember how billions of dollars went to the executives of failed banks?

Do you remember how the federal government snatched up banks and auto-makers as if we were caught in some twisted chapter of Atlas Shrugged?

Do you remember how the same people that demanded that we bailout these billionaire bankers, would not tell us who received the $2 trillion dollars in emergency loans from U.S. taxpayers?


Ben Bernanke: "I don't know who received the money"


The Federal Reserve has continually denied responsibility for creating the bubble that has consumed the last ten years of American economic prosperity and has destroyed the livelihoods of millions of Americans.

Despite being probed by the few members of congress who had the courage to press the issue, the Federal Reserve has quietly dodged every Congressional attempt to acquire information about how it has manipulated the economy or to whom it has shoveled trillions of dollars.

Americans understand that this is a scam. When Congressman Ron Paul introduced a bill to audit the Federal Reserve, the American public rallied behind the initiative.

When the public spoke out against the shady and unaccountable practices of the Federal reserve, the audit bill secured 317 co-sponsors in the House of Representatives and 32 co-sponsors in the Senate.

However, this unprecedented call for oversight did not go unchallenged.

Congressman Mel Watt - whose district encompasses the corporate headquarters of Bank of America - attempted to torpedo our efforts for more accountability by replacing the language of the bill with his own toothless language.

When the Campaign for Liberty sent out the alert about Mel Watt's attempt to undermine our audit efforts, Americans responded and his treachery was voted down with a huge bi-partisan majority.

By the time the Senate took action on the bill, the Federal Reserve had actually hired its own lobbyist and was fiercely resisting every attempt to tear down its veil of secrecy.

Unfortunately, Senator Bernie Sanders--who had introduced the bill in the Senate--caved under the pressure of the Federal Reserve lobbyists and the Obama Administration by significantly watering down the language of the bill.

Despite having most of the language of the bill watered down or removed, what the public began to learn was astounding.

What was the Federal Reserve up to? Where was the money going?

It was going to middle-eastern dictators and billionaire housewives.

The small bit of audit language that remained intact in the bill uncovered that the Federal Reserve had provided at least 46 low-interest loans to the Arab Banking Corporation, of which the Central Bank of Libya owns a majority stake.

Totaling more than $26 billion, these loans shifted capital from the job markets of our country to the government and banking system under Libyan dictator Muammar Gaddafi.

Yes, the same Muammar Gaddafi that has recently been condemned for turning his military against his own people.

It was also found that $220 million was given directly to Christy Mack, wife of the chairman of Morgan Stanley, and to Susan Karches, the widow of the former president of Morgan Stanley's investment banking division.

Under the agreement for the "loans," Mack and Karches can keep all of the profits on their investments while the Treasury and the Federal Reserve would have to absorb 90% of all losses on the investments.

This has nothing to do with protecting our economy or creating jobs. This is political wrangling and corporate welfare at the expense of the American taxpayer.

This insanity has to end. For too long the Federal Reserve has manipulated our economy to disastrous results without oversight. For too long the Federal Reserve has shuffled taxpayer dollars in dangerous political games without transparency.

It is time for a full Audit of the Federal Reserve.

Congressman Ron Paul has reintroduced the bill for a full audit of the Federal Reserve. This time he has a partner in the Senate who won't stab us in the back when the Federal Reserve and the Obama Administration start pulling strings.

Congressman Paul's son, Senator Rand Paul, has introduced companion legislation in the senate and has pledged to continue to help us drive this vital issue forward.
We already have huge momentum on this issue as 159 members of the House and 6 Senators have co-sponsored this bill. However, 18 Texas legislators have yet to co-sponsor this bill. Can you help me mobilize behind this issue?
Please contact your legislators today if they have not already become co-sponsors of Audit the Fed:
Rep. Ted Poe (R— 2nd District): 202-225-6565
Rep. Ralph Hall (R— 4th District): 202-225-6673
Rep. Jeb Hensarling (R— 5th District): 202-225-3484
Rep. Kevin Brady (R— 8th District): 202-225-4901
Rep. Al Green (D— 9th District): 202-225-7508
Rep. Mike Conaway (R— 11th District): 202-225-3605
Rep. Ruben Hinojosa (D— 15th District): 202-225-2531
Rep. Silvestre Reyes (D— 16th District): 202-225-4831
Rep. Sheila Jackson Lee (D— 18th District): 202-225-3816
Rep. Charles Gonzalez (D— 20th District): 202-225-3236
Rep. Pete Olson (R— 22nd District): 202-225-5951
Rep. Lloyd Doggett (D— 25th District): 202-225-4865
Rep. Henry Cuellar (D— 28th District): 202-225-1640
Rep. Gene Green (D— 29th District): 202-225-1688
Rep. Eddie Johnson (D— 30th District): 202-225-8885
Rep. Pete Sessions (R— 32nd District): 202-225-2231
Senator Kay Hutchison (R): 202-224-5922
Senator John Cornyn (R): 202-224-2934
When we last pushed for transparency we proved that the winds of change are in our favor. Only with your help will we finally be able to tear down the walls of secrecy surrounding the Federal Reserve.


For Liberty,

Debbie McKee
Texas State Coordinator
Virginia Campaign for Liberty


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