PDA

View Full Version : B.J. Lawson to Expose Fed at Press Conference




FireofLiberty
04-01-2008, 04:10 PM
B.J. (http://www.lawsonforcongress.com) will be holding a press conference tomorrow to talk about the Federal Reserve. Below is a copy of the press release:


April 1, 2008
LAWSON FOR CONGRESS
CONTACT: Dr. B.J. LAWSON
Candidate for Congress, North Carolina's 4th District
www.lawsonforcongress.com
919.924.1662
Alexander Scholz-Communications Coordinator
919.599.4672 (c)

Note: We will have large visuals humorously illustrating food price increases for photo ops.

PRESS RELEASE
DR. LAWSON TO EXPLAIN HOW FED BAILOUTS WILL CAUSE HIGHER PRICES AT PRESS CONFERENCE

Congressional candidate Dr. William (B.J.) Lawson will be holding a press conference at the Mediterranean Deli in Chapel Hill on 410 West Franklin Street at 11:00 AM on Wednesday, April 2. The setting has been chosen to highlight rising food costs and the role of the Federal Reserve in causing them. Dr. Lawson will also oppose Treasury Secretary Henry Paulson's bill to expand the role of the Federal Reserve.

The fox is guarding the hen house. The Federal Reserve's shareholders are its member banks, so it is owned by the banking industry. It is not a part of the federal government. Furthermore, the Federal Reserve also regulates the banking industry. Why are we talking about expanding the role of the Federal Reserve at a time when people like renowned economist Anna Schwartz recognize the Fed caused the current crisis? Why do Democrats and Republicans continue to act as if the Fed is the solution, when it is the problem? Where is Congressman Price's leadership on this issue?

Schwartz interview at London Telegraph:
http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=A1YourView&xml=/money/2008/01/13/ccschwartz113.xml

The Fed's solution may help its member banks (not all banks), but the price for the average citizen will be escalating prices. Fed bailouts must be paid for.

So what is a bailout, anyway? Essentially, the Federal Reserve is using its ability to create money out of thin air. This new money is given to affected banks and investment banks, most recently in the form of "loans" using junk debt as collateral and at giveaway interest rates available to no one else.

If apple growers experience a bumper crop, the increased supply of apples lead to lower prices for consumers. So too, dollar bills cannot escape the law of supply and demand. All the new money the Fed and its banks create increases the supply of dollars in circulation and thus decreases each dollar's buying power. The result is higher prices, as each dollar purchases fewer goods and services.

Unrestrained money creation may feel good at the moment, particularly for those who get to use that new money before the prices rise to compensate. But this new money raises the risk of loss of confidence in the currency, abroad and at home, as prices continue to rise. Loss of confidence can snowball into runaway inflation, which the nation can ill afford.

###

TruthAtLast
04-01-2008, 04:22 PM
great press release, I hope the Press Conference is YouTubed

Cowlesy
04-01-2008, 08:59 PM
bump