URGENT: Audit The Fed House Vote On Monday (9/15/14)

[Matt Collins]

From a Campaign for Liberty e-mail:





http://www.chooseliberty.org/images/Header-3.jpg


I have exciting news!

Campaign for Liberty has heard from the House leadership that our Audit the Fed bill (H.R. 24) will likely be voted on in the House of Representatives early next week — which means it could be voted on as soon as Monday afternoon!

This presents us with a tremendous opportunity to not just pass the bill through the House but use a victory to turn up the pressure higher than ever on Harry Reid to hold an up-or-down vote in the Senate.

But we will not be able to take full advantage of this opportunity without your generous support today.

I’ll give you the link in a moment, but first, allow me to explain why your support today is vital to our success, and how you can help.

It appears Audit the Fed will likely be brought up under “suspension of the rules,” just like in 2012.

This means we would need a two-thirds majority to prevail.

It’s a high target to hit, but you and I have done it before, and then some, as Audit the Fed previously passed the House by a three-fourths majority.

While I’m confident you and I can win in the House again, we can’t afford to take anything for granted.

So C4L needs to first put as much heat as possible on wavering representatives to make sure the bill passes the House with an overwhelming majority — the bigger our margin of victory, the more pressure Harry Reid and his cronies will feel to act in the Senate.

We must also be prepared to turn up the heat on the Senate immediately after the House vote.

With the Senate scheduled to adjourn on September 23 for the elections, we don’t have a moment to lose!

If Harry Reid refuses to hold the vote before the Senate leaves town, you can help us make sure the American people hear about it all the way until Election Day and build so much pressure by the time Congress returns, the Senate will be forced to act in the Lame Duck.

Far too many remain unaware of how much damage the Fed is causing, and why it’s at the center of our economic woes and surging national debt.

And with all eyes on the issues before the election, we have a prime opportunity to bring more attention to the Fed.

With your help, C4L can reach millions more Americans through:

• Emails to outside lists detailing why the Fed is so dangerous to our economy and why it must be held accountable.

• Fliers on our Audit the Fed bill to equip activists to easily and quickly spread the word and generate more pressure on Congress.

• Fact sheets clearly explaining what the Fed is, describing Audit the Fed’s provisions, and outlining what the Fed has been up to – that we know about.

• Social media, Google ads, and other ads on high-ranking websites linking back to more information on the Fed and our efforts – even TV and radio ads during popular programs, if we can raise the necessary funds.

• Targeted letters, slicks, and more delivering pro-Audit the Fed and pro-sound money information to millions of Americans.

That’s why I’m counting on you for a contribution of $50 today (http://paracom.paramountcommunication.com/ct/22332383:22298411468:m:1:288046305:03B7BDA194F2556 0A8CCD9730F536F53:r).

It’s a lot to ask, I know.

But C4L needs your help more than ever to stay on offense against the Fed, while turning up pressure on Congress to pass our Audit the Fed bill.

If $50 is simply not possible, please consider a contribution of $25 or $10.

Time is running short.

With your help, we can keep fighting to audit – and then END – the Fed!

For Liberty,
http://www.chooseliberty.org/images/ron-sig.png
Ron Paul

P.S. Campaign for Liberty has learned that Audit the Fed will likely be voted on early next week! The vote could come as soon as Monday afternoon and will likely be under suspension of the rules, which means we will need a two-thirds majority to prevail.

To make sure C4L can build pressure for another victory in the House – and then immediately turn up the heat on the Senate – I need your help today.

Please make your most generous contribution of $50, $25, or $10 today (http://paracom.paramountcommunication.com/ct/22332383:22298411468:m:1:288046305:03B7BDA194F2556 0A8CCD9730F536F53:r).

Not only will C4L be able to build more momentum for Audit the Fed, but only our members’ support will allow us to reach millions more Americans about the Fed and the need to hold it accountable.

Please give whatever you can today by clicking here (http://paracom.paramountcommunication.com/ct/22332383:22298411468:m:1:288046305:03B7BDA194F2556 0A8CCD9730F536F53:r).

[Natural Citizen]

Well. Aside from the statesman's request here, both Pauls have been very vocal with regard to the fact that the fed is insolvent and quickly approaching bankruptcy. What is new to be pondered about is that we are starting to see the CIA chime in on it.

Senator and CIA Insider Accuse Federal Reserve of Covering Up Secret Bankruptcy (http://moneymorning.com/ext/articles/rickards/secret-bankruptcy.php?iris=252776&utm_source=taboola&utm_medium=referral)




“Rickards shared an alarming collection of charts in the discussion that proved our country has secretly reached, or exceeded, crisis levels in our stock market, with our dollar, and banking system that are more severe than in 1929.

He examined two charts in particular that specifically place much of the blame for this on the Federal Reserve.

“‘What you can see from this first chart is that for over a decade the Federal Reserve steadily grew its capital reserves. Even after the recession struck, on the surface at least, they kept strengthening their financial backing,’ he explained.

“‘And today they have over $56.2 billion of cash on hand. $56.2 billion sounds like a lot of money, but it’s not the full picture.’”

“‘You have to compare the cash the Federal Reserve has on hand with the debt they’ve taken on since the recession. And when you do the picture becomes a lot scarier, because that figure is $4.3 trillion,’ Rickards continued.

“‘So you have $56.2 billion propping up $4.3 trillion worth of debt. That means the Fed is leveraged 77-1. Prior to our 2008 meltdown that was only 22-1.’”




Aside - Here’s Why the Market Could Crash–Not in Two Years, But Now (http://www.washingtonsblog.com/2014/09/heres-market-crash-two-years-now.html)




"One ontological feature of complex systems is that they are not entirely predictable. An agricultural monoculture is a good example: we can control all the visible inputs–fertilizer, seeds, water, pesticides, etc.–and conclude that we can completely control the output, but evolution throws a monkey wrench into our carefully controlled system at semi-random times: an insect pest develops immunity to pesticides or the GMO seeds, a drought disrupts the irrigation system, etc.

The irony of assuming that controlling all the visible inputs gives us ultimate control over all outputs is the more we centralize control of each input, the more vulnerability we introduce to the system."

"If the economy and the market are indeed systems, then we can predict that any level of control will fail no matter how extreme, and it will fail in an unpredictable fashion that is unrelated to the power of the control mechanism.

"Indeed, we can posit that the apparent perfection of central-bank engineered stability (i.e. a low VIX and an ever-rising market) sets up a crash that surprises everyone who is confident that central-bank monocultures never crash. In the real world, manipulated stability is so vulnerable to cascading collapses that crashes are probabilistically inevitable".




Of course, neither Paul, or Rickards, or Smith are factoring hidden systems of finance via black budget in their once over. As well, none of them give a second thought about international financial clearing models, commodities markets or electronic networks/ high frequency trading. A lot of that stuff can be found around here on the boards if we can detach ourselves from the ISIS porn for a hot second.

[tsai3904]

It will be voted on either Tuesday or Wednesday. Here's the schedule:
http://www.majorityleader.gov/floor/#weekly

Please call your Congressman and ask them to vote for HR 24, especially if your Congressman is a freshman or a Democrat.

In 2012, 48% of Democrats voted for the bill and many who did are now in the Senate or running for Senate, where we need more Democratic support.

Current Democratic Senators who supported/voted for Audit the Fed in 2012:

Sen Baldwin, Tammy [WI]
Sen Donnelly, Joe [IN]
Sen Heinrich, Martin [NM]
Sen Hirono, Mazie K. [HI]
Sen Murphy, Christopher S. [CT]

Current Democratic Reps running for Senate who may vote for the bill for campaign reasons:

Rep Braley, Bruce L. [IA-1]
Rep Peters, Gary C. [MI-14]

[Zippyjuan]

Well. Aside from the statesman's request here, both Pauls have been very vocal with regard to the fact that the fed is insolvent and quickly approaching bankruptcy. What is new to be pondered about is that we are starting to see the CIA chime in on it.

Senator and CIA Insider Accuse Federal Reserve of Covering Up Secret Bankruptcy (http://moneymorning.com/ext/articles/rickards/secret-bankruptcy.php?iris=252776&utm_source=taboola&utm_medium=referral)



“‘You have to compare the cash the Federal Reserve has on hand with the debt they’ve taken on since the recession. And when you do the picture becomes a lot scarier, because that figure is $4.3 trillion,’ Rickards continued.

“‘So you have $56.2 billion propping up $4.3 trillion worth of debt. That means the Fed is leveraged 77-1. Prior to our 2008 meltdown that was only 22-1.’”



That $4.3 trillion "debt" on the Fed's books is money owed to it- not money it owes. If he is really an economist he would understand that. It is the value of the securities they have purchased. When you buy a security, you are loaning money- not borrowing it. A lot of the profits the Fed has is the interest on that debt they own (like US Treasury notes and Mortgage Backed Securities) which they get paid. At the end of the year they turn over profits (minus their expenses) to the US Treasury. Last year that totaled $77.7 billion. http://blogs.wsj.com/economics/2014/01/10/fed-sent-77-7-billion-in-profits-to-treasury-last-year/ They are a long ways from being insolvent.

I went to his site and he has lots of screwy figures in his charts. He says for one that the Misery Index is the highest ever. The Misery Index is a figure obtained by adding unemployment to the inflation rate. In 1980, both the unemployment rate and the rate of inflation were double digits. That would make a Misery Index of over 20. Today the unemployment rate is 6.7% and the inflation rate is about two percent or a Misery Index of below ten or less than half of what it was back then. He says it is over 30. He seems to be just making things up. But buy his book and he will tell you all about it.

[Natural Citizen]

That $4.3 trillion "debt" on the Fed's books is money owed to it- not money it owes. If he is really an economist he would understand that. It is the value of the securities they have purchased. When you buy a security, you are loaning money- not borrowing it. A lot of the profits the Fed has is the interest on that debt they own (like US Treasury notes and Mortgage Backed Securities) which they get paid. At the end of the year they turn over profits (minus their expenses) to the US Treasury. Last year that totaled $77.7 billion. http://blogs.wsj.com/economics/2014/01/10/fed-sent-77-7-billion-in-profits-to-treasury-last-year/ They are a long ways from being insolvent.

Is irrelevant to the underlying point that I was flirting with, Zip. The reason for my posting (particularly those two links) was to show that all three of these fellers are ignoring intricate and relevant factors and because of this their models will flaw any conventional audit and is why the Fed will never permit a genuine audit. If they did then it would surely reveal the role of those factors, and more importantly their network or interraction with one another.

But you didn't quote my posting in whole so I assume that you just didn't understand the logic in sharing what I did. I'm not looking to argue semantics, really.

And, you know, aside from all of this, the same shortcomings seen here are the exact same ones that left our chosen ones a little red faced after recent sanctions abroad. But that's another discussion for another day, I suppose. One would hope so anyway.

[Zippyjuan]

So you weren't trying to say the Fed is insolvent? Perhaps you can elaborate on what you really meant. Sorry if I misunderstood.

Well. Aside from the statesman's request here, both Pauls have been very vocal with regard to the fact that the fed is insolvent and quickly approaching bankruptcy. What is new to be pondered about is that we are starting to see the CIA chime in on it.

My point was the DON'T OWE $4.3 trillion to anybody. That is owed to them. They loaned out money by purchasing securities. If the Fed is owed $4 trillion and made $80 billion last year they are not insolvent- unless the people who owe them money (mostly US Government) default on it.

[Natural Citizen]

So you weren't trying to say the Fed is insolvent? Perhaps you can elaborate on what you really meant. Sorry if I misunderstood.



Is this not what Rand and Rickards are eluding to? It seems like it to me if you read the papers I posted. And, really, just about every other mainstream rag on the planet. Right? I'm just going along with their model here and showing their shortcomings. Perhaps "the fact that the fed is insolvent and quickly approaching bankruptcy" was a poor choice of wording since it could be assumed that this is my own perception. It's not, though. But this is the model that they are presenting here as well as others and so we have to kind of force them to pay attention to what they're saying.

[Zippyjuan]

Thanks for elaborating.

[Natural Citizen]

Thanks for elaborating.

But you see what I'm saying here. Right? Essentially, what they're running on here is a meme but aside from that they sure are leaving out some rather critical data.

[Zippyjuan]

What sorts of critical data would you like to see from the Fed?

[Natural Citizen]

What sorts of critical data would you like to see from the Fed?

I'm not asking for anything from the fed. What I'm saying is that if you want an honest to goodness audit of it then what the elected ones who are supposedly going to head it up need to do is include things like black budget, the system or mechanism of finance that drives it, as well as the roles of the people who function in both the finance and intelligence aspects. And, again, absent are international financial clearing mechanisms (which I've written about in great length on these boards) as well as commodities markets and other high frequency trading networks. That kind ofg thing. I'm not asking the fed for this, I'm soliciting the notion that the folks who intend to actually head up an honest to goodness audit actually include this stuff. Otherwise you're not going to get a true audit. Again, those4 two links were intended as an example of what they are leaving out of their model for a true audit.

It's exactly what I already said earlier in the thread, Zip. I just got done saying exactly what I add again here.

Of course, the absence of this kind of data puts us back in the meme department when it comes to mainstream movements to audit the fed. Going back to your question of clarification...

[Zippyjuan]

The thread was about auditing the Fed. I assumed that was what you were talking about.


I'm not asking for anything from the fed.

[Natural Citizen]

The thread was about auditing the Fed. I assumed that was what you were talking about.


If you're going to audit the Fed then you need to do it right. I'm just saying that it's not being done right and so no real audit can happen.

[surf]

+ rep for sample letter I can send to my reps

[burlyrdc]

From a Campaign for Liberty e-mail:

Robert,

My staff has received confirmation the U.S. House will vote on our Audit the Fed bill this Tuesday!

The vote will come "under suspension of the rules," so we need a two-thirds majority to prevail. That means I need all hands on deck.

We have a great opportunity to push it through the House and then turn up the heat on Harry Reid in the Senate!

And with the Senate set to adjourn in a matter of days, there is no time to waste.

That's why I need you to make a generous contribution of $5, $10, or more right away.

Your donation will help C4L raise awareness on Audit the Fed and make it an issue Harry Reid can't ignore.

Please click here to chip in now and help build momentum for Audit the Fed.

I'm counting on your support, Robert.

Let's take advantage of this opportunity and keep the fight going against the Fed.

For Liberty,

Ron Paul

[Warlord]

Melt those phones!

[HOLLYWOOD]

For the record... some snapshots from today's Washington Times coverage, Share the article and get it to the top

http://kwout.com/cutout/w/2d/cr/wdc_bor.jpg

Ron Paul's 'Audit the Fed' bill returns to Congress - Washington Times (http://www.washingtontimes.com/news/2014/sep/13/ron-pauls-audit-fed-bill-returns-congress/)

http://kwout.com/cutout/h/3p/mj/bqs_bor.jpg

[surf]

+ rep for sample letter I can send to my repsoffer still stands.

[tsai3904]

+ rep for sample letter I can send to my reps

I urge you to vote for H.R. 24, the Federal Reserve Transparency Act of 2013.

Current law prohibits the Government Accountability Office from auditing Federal Reserve transactions with a foreign central bank, Federal Open Market Committee transactions, and monetary policy deliberations. H.R. 24 will repeal these restrictions and bring much needed transparency to the Federal Reserve. Congress and the American public can not properly oversee the central bank without having access to these information.

Please support transparency by voting for H.R. 24.

[surf]

I urge you to vote for H.R. 24, the Federal Reserve Transparency Act of 2013.

Current law prohibits the Government Accountability Office from auditing Federal Reserve transactions with a foreign central bank, Federal Open Market Committee transactions, and monetary policy deliberations. H.R. 24 will repeal these restrictions and bring much needed transparency to the Federal Reserve. Congress and the American public can not properly oversee the central bank without having access to these information.

Please support transparency by voting for H.R. 24.

thanks much. "You must spread some Reputation around before giving it to tsai3904 again."

will post response. will give +rep to others that post response. this is a big thing, isn't it?

[tsai3904]

Vote is tomorrow (Tuesday). You can call/email your Rep today and urge a Yes vote on H.R. 24.