$4800 Donated to Schiff Yesterday

[ghemminger]

NIA made a donation yesterday. We will be putting out a press release, but wanted to give you all a heads up

[DFF]

Good for y'all! :D

[LibertyEagle]

Who is NIA?

[Michael P]

Who is NIA?

http://inflation.us/

[FSP-Rebel]

Groovy!

[torchbearer]

NIA made a donation yesterday. We will be putting out a press release, but wanted to give you all a heads up

http://custodialsmackdown.files.wordpress.com/2008/08/b2.jpg

[torchbearer]

//

[MRoCkEd]

July 20, 2009

NIA Co-Founders Donate to Peter Schiff

Two of our co-founders have each donated $2,400 to the Peter Schiff Exploratory Committee for the U.S. Senate Republican primary in the State of Connecticut. Although Peter Schiff has not officially announced his candidacy, he recently said that he is leaning towards running and is testing the waters by seeing how much money he can raise in donations over the next few weeks. We need Peter Schiff to replace Chris Dodd in the U.S. Senate. Chris Dodd exemplifies exactly what is wrong with Washington today.

Peter Schiff started warning Americans to prepare for our current economic crisis over five years ago. In November of 2006, Peter explained in a speech at the Western Regional Mortgage Bankers Association Meeting in detail how we were in a housing bubble and exposed the subprime mortgage crisis. Peter accurately predicted the collapses of Fannie Mae and Freddie Mac while Chris Dodd was calling them "fundamentally strong" and said they were in a "sound situation" and "in good shape".

Chris Dodd was the number one largest recipient in Congress of campaign funds from Fannie Mae and Freddie Mac and accepted "V.I.P" mortgages with discounted rates from Countrywide Financial as a part of the "Friends of Angelo" program. Chris Dodd later proposed a program to assist troubled subprime mortgage lenders such as Countrywide in the wake of the U.S. housing bubble collapse.

Chris Dodd even added a provision to the American Recovery and Reinvestment Act of 2009 preventing limits on executive bonuses at companies receiving U.S. government bailout money. This allowed AIG to pay out $165 million in executive "retention" bonuses to its top executives, who were responsible for running the company into the ground.

Peter Schiff is against all bailouts and said from the beginning that AIG deserved to fail. He knows that if our government continues to bail out financial institutions that are deemed "too big to fail", eventually it will be the U.S. dollar that fails and we will see a currency crisis and hyperinflation. Peter believes that Congress's recent actions are only causing greater damage to our economy and will make it impossible for the economy to ever recover. He believes Congress is in the process of turning the current recession into the next great depression, but much worse.

The U.S. economy was headed for a deep recession in 2001 after the dot-com bubble burst. If the government allowed a recession back then, it is likely we would already have a prosperous economy today. Recessions are not a bad thing, phony economic booms created by artificially low interest rates and government stimulus programs are the problem. Recessions are the solution in order to clear out excesses and rebalance the economy.

Life-long politicians don't care about the long-term health of our economy. They approve damaging stimulus plans to buy themselves time to be reelected, while pushing severe problems down the road and making them bigger. It isn't just the short-sightedness in Washington that got us where we are today, but the short-sightedness on Wall Street as well. The management of financial institutions on Wall Street recklessly speculated on huge leverage knowing they could reward themselves with huge bonuses during the artificial boom, and if their firms failed during the bust, they wouldn't have to pay back their bonuses and their firms would get bailed out by Washington.

Most of the Democrats in power today would like you to believe free markets and capitalism caused Wall Street's greed, but if the free market was allowed to work for itself, greed would've been tempered by fear. The free market would've prevented risky loans from being made, but the government took these barriers away by setting a precedent in the 80's and 90's with the bailouts of 745 savings and loans associations during the S&L crisis.

Unfortunately, the Republicans have no credibility because Bush, who portrayed himself to be a believer in limited government and free markets, expanded the government and interfered in the free market more than any previous President in history. Republicans today are unable to criticize Obama, because Obama is doing the exact same thing as Bush, but on a much larger scale.

Peter Schiff represents the future of the Republican Party. In order for the Republican Party to ever regain power, they need to move towards the libertarian economic principles that Peter Schiff preaches.

As evidenced by Ron Paul raising a record breaking $6.2 million online in a single day during his presidential campaign, mostly from young people, there is a huge grassroots movement in America towards libertarian values. We must now convince the people of Connecticut to be at the forefront of this movement by electing Peter Schiff to the U.S. Senate, but first we need to convince Peter to officially declare his candidacy.

Please visit http://www.schiffforsenate.com and make the largest contribution you can afford. If we have six more years of Chris Dodd in the U.S. Senate and see hyperinflation, $2,400 won't be enough to buy a loaf of bread.

Hartford Courant blogged about it:
http://blogs.courant.com/capitol_watch/2009/07/peter-schiff-chris-dodd-and-th.html

[ghemminger]

YouTube - Why I Support Peter Schiff (http://www.youtube.com/watch?v=BTmcvKOeeV8)