PoliticalAction.com Blog

here’s Ron and Glenn Beck laying out a lot of heavy stuff….

High-stakes duel between Rep. Paul and chairman Bernanke intensifies

By Silla Brush | The Hill
12/08/09

Rep. Ron Paul and Ben Bernanke are locked in a clash of titans.

Paul, the 74-year-old House libertarian from Texas with the high-pitched voice, has fought for decades to kill off the Federal Reserve.

Bernanke, the mild-mannered ex-Princeton professor and chairman of the bank, is waging a high-stakes battle for the Fed’s reputation. And he’s doing everything possible to knock out Paul.

The fight is still in the early rounds. But with the full House expected to vote this week to give government auditors more power to scrutinize the Fed, Paul has the upper hand.

The Senate is a much more difficult round for Paul, though a similar stew of liberal and conservative support is starting to simmer in the upper chamber behind the Republican’s wonky auditing measure.

Bernanke and Paul have never met one-on-one behind closed doors, Paul’s office said. The battle has taken place in public — on blogs, with grassroots activists and during congressional hearings.

Bernanke has testified against the provision, given lengthy media interviews, written op-eds and attempted to lift the cloud of secrecy that hangs over the bank.

The Fed is audited, he argues, but allowing government scrutiny of interest rate decisions will politicize the Fed. Opening the door to congressionally requested audits would compromise the market’s confidence in the bank.

Paul, a longstanding supporter of a new gold standard, made his case formally in his recently published book, End the Fed.

The 2008 presidential candidate’s crusade is no longer a quixotic quest. He is a prime beneficiary of the grassroots anger this year against government bailouts for Wall Street.

First introduced in February, Paul’s bill to audit the Fed has gained 317 co-sponsors, a shocking three-quarters of the House. The bill has not won over many Democrats in leadership, but it has picked up several committee chairmen, including Reps. Bart Gordon (Tenn.), Jim Oberstar (Minn.) and John Spratt (S.C.).

Rep. Alan Grayson (D-Fla.), a prominent Paul ally on the bill, has provided a huge boost to the effort with his firebrand strain of liberal politics.
Grayson has publicly slammed the Fed, going so far as calling its top lobbyist a “K Street whore” before apologizing. Paul himself said the full force of “lobbyists for the Fed” is stacked against him.

As the popularity of the Paul-Grayson measure rose this year, Bernanke’s fell.

Praised by many economists for taking the necessary steps to right the economy over the last year, his overall public approval has soured. A Rasmussen poll in November showed that just 21 percent of those surveyed thought Bernanke should be reappointed. Meanwhile, 79 percent of those polled said auditing the Fed is a good idea.

Republicans have jumped behind Paul, who stood out in last year’s GOP presidential primary for his outspokenness against the Iraq war.

“There needs to be Fed independence and accountability for those dollars to at least look back at those decisions,” said Rep. Kevin Brady (R-Texas).

But the political value is plain as Republicans argue the government is taking too large a role in the economy.

“The Fed becomes for Republicans a very convenient, always controversial, always misunderstood, very specific whipping boy that they can ride to potential victory in 2010 and 2012,” said a Washington-based financial lobbyist.

Bernanke has the normally powerful Rep. Barney Frank (D-Mass.) in his corner. But as chairman of the House Financial Services Committee, Frank couldn’t eke out a compromise.

Frank rarely loses battles, but an attempt — with Rep. Mel Watt (D-N.C.) — at a deal on the audit issue simply fell short at the committee level. Liberal activist Robert Borosage, who is campaigning against Bernanke’s nomination for a second term, said the compromise effort was nothing more than “the establishment alternative.”

The committee voted 43-26 in favor of Paul’s amendment as 15 Democrats on the panel bucked Frank.

The vote drew a bright line between the senior Democrats atop the committee and the freshman and sophomore members.

“I think some of the newer members are in the most vulnerable districts,” said Rep. Brad Miller (D-N.C.), a Paul-Grayson co-sponsor who instead joined Frank in voting against the Paul amendment. “They were certainly getting the calls that I was getting, and they were reading the politics differently.”

Frank and Paul are both veterans of the House, and while they are on nearly opposite ends of the political spectrum, they have a mutual respect. The two have worked closely on an Internet gaming measure.

Many Democrats and Republicans on Capitol Hill say that Frank, despite his partisan rhetoric, is a pragmatist.

“I never felt [Frank] was against me,” Paul said.

Frank said last week the language wouldn’t be changed when the House heads for the vote. Ten of the 13 House members on the Rules Committee are among Paul’s backers, including Chairwoman Louise Slaughter (D-N.Y.).

“Absent some change in the way the public is reacting, I don’t see any changes,” Frank said. “I think there is this tension within the Republican Party. A lot of their people who traditionally have a lot of influence are troubled by this, but they may be cowed by the anger at the Fed.”

In the Senate, Paul has found support from Sens. Jim DeMint, the conservative Republican from South Carolina, and Bernie Sanders, the Independent from Vermont who calls himself a proud socialist.

A left-right coalition of interest groups on the outside is joining forces against Bernanke.

Bob Cusack contributed to this article.

Hey folks,
Thanks for your patience with the videos from the rally. I finally got everything uploaded to our youtube channel (www.youtube.com/truth215freedom). If you’ve ever had the pleasure of making a video, chopping it up, and uploading it to youtube, while you’re in the middle of moving and setting up your new house, you can appreciate the time that was put into these videos. That said, please rate, comment, and share them with the world, I’d appreciate the help! Thanks again everyone, see you all on 12/11/09 for the holiday party!!!

Love and Liberty,
Mike Salvi

End the Fed March
http://www.youtube.com/watch?v=AcQHwZysYd0

Mark Passio at the Fed
http://www.youtube.com/watch?v=_Ik4js_8FmE

Jake Towne at the Fed
http://www.youtube.com/watch?v=4g-dpY0seEY

Rob Pepe at the Fed
http://www.youtube.com/watch?v=Ryy56O9q62A

Pat Sellers at the Fed
http://www.youtube.com/watch?v=p7Ncx0qa6aw

Jake Towne inside (3 videos)
http://www.youtube.com/watch?v=73yfuMMf188

Dr James G Allen inside (2 videos)
http://www.youtube.com/watch?v=mbGhYPeErXg

Larken Rose inside (2 videos)
http://www.youtube.com/watch?v=e6tzOS1SQNA

William Kern inside (2 videos)
http://www.youtube.com/watch?v=2GuhbxC_AWY

Jacob Hornberger inside (2 videos)
http://www.youtube.com/watch?v=zw-PhhxznIA

REMINDER:
If you’d like to be more involved in helping out with events/outreaches/action items/ideas, please RSVP to our open organizer meeting this Saturday (you don’t need to be an organizer, this is open to all members, new and old) Open Organizer Planning Meeting

This message was sent by Mike Salvi (salvi@libertysolutions.ws) from TRUTH, FREEDOM, PROSPERITY.

Thanks,
Michael Salvi
www.truthfreedomprosperity.org
www.pennsylvaniarevolution.com

Ron Paul on the House floor 12/01/09:
“This belief is a dream that will become a nightmare for all Americans!”

Run Ron, Run!

By VICTORIA MCGRANE – Politico.com

The House Financial Services Committee has approved Rep. Ron Paul’s measure to drastically expand the government’s power to audit the Federal Reserve.

The measure, based on a Paul proposal that has attracted more than 300 co-sponsors, passed, 43-26, as an amendment to a financial reform bill. Florida Democrat and fellow Fed critic Alan Grayson co-sponsored the amendment with Paul and played a leading role drumming up support for it among committee members. The adoption of this amendment is an extraordinary victory for Paul, whose libertarian, anti-Fed leanings have often been dismissed by the political establishment.

The amendment would give the Government Accountability Office much greater to audit the Federal Reserve, which has a long history of independence from congressional audits. Paul and Grayson beat out a competing measure offered by Rep. Mel Watt (D-N.C.), who after weeks of negotiations with the pair felt their measure would threaten the Fed’s monetary policy.

Grayson, however, told POLITICO in an interview that Watt’s amendment would add more restrictions on the GAO’s ability to audit the Fed, not less. “And there’s a crying need to expand it because the Federal Reserve has completely changed the way it’s done business since a year and a half ago.”

The House Financial Services Committee will vote on approving the underlying bill after Thanksgiving recess.

I have been a supporter of Ron Paul since his 2008 presidential run.
Here he talks more sense in ten minutes then most other politicians
talk in a lifetime. Ron Paul is my President.

Dear Friend of Liberty,

We have all worked so hard to make an Audit of the Federal Reserve a reality. Together, we have led the fight to get congressional hearings, 308 cosponsors, and unprecedented attention around the country.

Now, you and I face our biggest challenge yet. And Ron Paul needs your help!

Mel Watt (D-NC), Chairman of the Monetary Policy Subcommittee, has sided with banking interests and is working to gut substantial audit provisions from H.R. 1207. The bill Congressman Watt has sent to the full Financial Services Committee contains no audit of the Fed’s monetary policy-making authority or transparency of the Fed’s secret agreements with foreign central banks.

Without these provisions, a so-called audit of the Fed would be worthless.

The full Financial Services Committee is likely to vote on this bill either later this week or early next.

Congressman Paul will offer an amendment to restore the provisions contained in H.R. 1207 to audit monetary policy and activity with foreign central banks. Thirteen of the 41 Democrats and all 29 Republicans on the Committee have cosponsored H.R. 1207, and if they hold the line, we will have the votes to win and restore our audit.

Dr. Paul has shot a YouTube video for Campaign for Liberty explaining the situation in more detail.

Pressure on the Democrat House Financial Services Committee members is critical! Below is a list of Democrats who have cosponsored. Please call them and urge them to vote Yes on the Paul Amendment. Click on their names to get their web contact information.

1. Rep. John Adler, NJ (202) 225-4765

2. Rep. Travis Childers, MS (202) 225-4306

3. Rep. Steve Driehaus, OH (202) 225-2216

4. Rep. Alan Grayson, FL (202) 225-2176

5. Rep. Rubén Hinojosa, TX (202) 225-2531

6. Rep. Suzanne Kosmas, FL Toll Free: 1-877-956-7627

7. Rep. Dan Maffei, NY (202) 225-3701

8. Rep. Brad Miller, NC (202) 225-3032

9. Rep. Walt Minnick, ID (202) 225-6611

10. Rep. Ed Perlmutter, CO (202)-225-2645

11. Rep. David Scott, GA (202) 225-2939

12. Rep. Brad Sherman, CA (202) 225-5911

13. Rep. Jackie Speier, CA (202) 225-3531

When contacting these members, remember that up to this point, these members have been allies on this issue. A civil yet firm tone should be kept during these calls. They should be thanked for their cosponsorship, told that Mel Watt’s changes to the bill are unacceptable, and urged to hold the line and honor their promise to support transparency at the Fed by voting Yes for the Paul amendment.

It is also important that we contact Financial Services Chairman Barney Frank and House Speaker Nancy Pelosi and urge them to schedule a standalone, up or down vote on the real Audit the Fed bill.

Rep. Barney Frank: (202) 225-5931

Speaker Nancy Pelosi: (202) 225-0100

Now is a crucial time for Audit the Fed. If these 13 Democrats hold the line, Ron Paul and C4L can win this battle. But, they must vote Yes on the Paul amendment when the full committee votes.

Together, you and I can win this fight.

In Liberty,

John Tate
President

Texas Straight Talk – A weekly column
Rep. Ron Paul (R) – TX 14

Last week a new bill was introduced in the Senate to audit the Federal Reserve. Some backers of my bill HR1207 and the existing Senate companion bill S.604 were a little miffed at this, but depending on how you think about it, this new legislation poses no great threat to our efforts.

With the economy in shambles, people are looking for answers – not just because of lost savings on Wall Street, but because of lost houses on Main Street. Because of the many problems we face, the Federal Reserve and its powers over the economy have come under scrutiny. This translates into a lot of political pressure on Congress. With all the House Republicans signed on as co-sponsors and over half of the Democrats, HR 1207 has enormous bipartisan support. It would be disingenuous for Washington not to embrace the principles behind this bill after all the promises for transparency. How can one credibly argue for more transparency in government in one breath and defend the secrecy of the Federal Reserve in the next?

However, there is still very powerful resistance to the disclosures that HR 1207 would require and efforts to weaken it will continue to pop up before this issue is settled.

The good news is that Washington is responding and the Federal Reserve has become the issue. Concerned Americans need to keep the pressure on by continuing to define what we want, and what we do not want.

One major concern is that HR 1207 constitutes some kind of power grab for Congress. Congress would not do a better job dictating interest rates or managing money supply growth than the Federal Reserve does for exactly the same reasons: Congress is not the free market. Any select group of people, no matter how wise and educated, simply cannot replace the wisdom of the market. HR 1207 does not seek to replace the wisdom of the Fed with the wisdom of Congress. That would be a giant step backwards. HR 1207 simply asks for full disclosure, and I am agreeable to allowing for a reasonable lag time to calm the fears that Congress intends to dictate monetary policy.

What we do want, what we insist upon, is that no longer will decisions that carry so much economic weight be made in absolute secrecy. We want to know what arrangements the Fed makes with other governments and central banks. We want to know who is benefitting from the actions of the Fed and what deals are being made. The Fed is already reacting to pressure by scaling back its liquidity facilities and returning to more traditional monetary policy through direct asset purchases. With nearly $800 billion in mortgage-backed securities on its books already, $800 billion in Treasury securities, and no real limit to what the Fed can acquire, there is a tremendous opportunity for malfeasance. We need to know who the Fed deals with, what they buy, how much they spend, and who benefits. As good as any step towards Federal Reserve transparency is, anything less than full disclosure at this point is unacceptable.

Dear Friend of Liberty,

Seventy-five percent of Americans agree with us that it’s time to thoroughly and completely audit the Federal Reserve System.

Every Republican and over one hundred Democrats in the House of Representatives have signed on as cosponsors of HR 1207. Almost a quarter of the Senate has gotten on board with S 604.

So what does this tell us?

It’s time to go get the rest!!

Last month, I announced that we would be holding an Audit the Fed Mass Action Event starting in the last couple weeks of August and culminating in a nationwide Mass Action Day on September 15.

Since then, C4L members have been knocking on doors, standing outside stores, attending county fairs, and gathering petition signatures in support of S 604.

On September 15, C4L National will deliver over 100,000 petitions to Capitol Hill while members across the country deliver the petitions they’ve collected to their senators’ local offices. Many of your fellow members will be holding rallies outside those offices, and several have contacted local media about covering the event.

Here are three ways you can help ensure the success of this Mass Action Event:

1.) Gather petitions – Hit the streets! Make sure your senators hear from as many people in your state as possible. Let’s spread the word and add to the seventy-five percent of Americans who support our cause. You can download petitions at CampaignforLiberty.com and AuditTheFed.com.

2.) Call your senators – Starting Tuesday, September 8, C4L members will be calling their senators’ offices to urge them to cosponsor S 604. Our objective is to keep their phones ringing off the hook by having members call every day for the week leading up to the petition drop. Commit to calling your senators by signing up here.

3.) Show up on September 15 – Congress counts on grassroots activists being content with just calling and sending petitions. To make sure they get our message that it’s time to Audit the Fed, we’re going to take our cause right to their offices in person. These events will be as effective as you make them. Show your senators that you are serious about real reform by rallying with your fellow members right outside their offices.

State and local coordinators and leaders have been working hard to create the most effective and efficient plans for September 15’s petition drop. Click here to find out how to take action in your area.

We were able to secure the support of almost two thirds of the House with your hard work gathering petitions, calling, and showing up at your representative’s offices. This could be the event that tips the scales in the Senate!

As we also announced last month, we’re adding an extra incentive. The person who gathers the most signatures in each state will win a pocket Constitution and a copy of Dr. Paul’s new book, End the Fed, both autographed by Congressman Paul himself.

And whichever state collects the most signatures (as a percentage of population) will win a $1,500 gift certificate to the Campaign for Liberty store!

Our representatives and senators are expecting to settle back in to business as usual when they return to D.C. after Labor Day. They think that they can leave your opinions and concerns behind in their districts while they continue to work on completely taking over our health care and finding other new ways to run our lives.

Let’s show them that their top priority should be finding out how the Federal Reserve has doled out trillions of our dollars, what deals they have locked us into with foreign central banks and governments, and why they refuse to disclose the details.

The day after our petition drop will mark the official release of End the Fed. This comprehensive look at the Federal Reserve System and its disastrous effects on our lives and country is sure to be a powerful tool with which to convince your family, friends, and neighbors that it’s time to restore our economy by reinstituting a sound money system.

A year ago, no one would have said we could make an audit of the Fed into a national, mainstream issue. Join us on September 15 as we show the political establishment, entrenched bureaucrats, and the media that our grassroots Revolution is more energized and determined to take back our country than ever before.

In Liberty,

John Tate
President

Dear Friend of Liberty,

Trillions of dollars are being stolen from the U.S. taxpayer.

Right now, you and I are seeing the worst plundering of a country’s wealth in the history of civilization, led by an out of control Federal Reserve.

But together you and I CAN put a stop to it all.

With your help (including submitting the petition linked below to your Congressman and Senators) today, Representative Ron Paul, Senator Jim DeMint and Campaign for Liberty are ready to fight back, by taking the battle straight to the heart of the problem – the Federal Reserve itself.

Just think about the scope of the problem for a minute: The massive, outrageous amount of dollars committed to the economic bailouts in recent months totals:

More than the socialist New Deal … More than the entire Iraq debacle … More than the 1980’s savings and loan mess … More than the Korean War …

COMBINED.

When will it all end?

It’s time you and I put a stop to a renegade Federal Reserve by exposing the Fed’s out of control actions to the American people. And Congressman Ron Paul and Senator Jim DeMint have a bill before Congress to do just that, known as the “Audit the Fed” Bill (HR 1207 and S 604).

That’s why it’s vital you click here to submit your “Audit the Fed” petition in support of Congressman Paul’s bill.

You see, Audit the Fed already has almost 300 cosponsors!

Now is the time to make sure your Congressman and Senators feel the heat to support the Audit the Fed bill!

If you and I don’t act today, I’m afraid this crisis will end with the economic ruin of every man, woman and child in America.

Today, nearly 13 TRILLION in taxpayer dollars in bailouts and loans have been agreed to by Congress, the Bush and Obama Treasury Departments, and the out of control Fed.

So is it really any wonder more and more folks are starting to realize the Washington, D.C. establishment is hurtling us toward complete economic disaster?

Whether it’s watching a phony “stimulus” package get rammed into law or watching Congress pass a $700 BILLION bank “bailout” under threat of martial law, the American people are agitated and increasingly angry.

That means it’s a perfect time to unleash the pressure of MILLIONS of outraged Americans on the out of control Fed!

So please click here to sign the petition linked below urging your Congressman and Senators to cosponsor and seek roll call votes to pass the Audit the Fed Bill!

As I know you’re aware, the Federal Reserve is shrouded in secrecy. Their meetings are off-limits to the public. Their inner workings are off-limits to the public.

And just recently, the Federal Reserve told Congress “NO WAY” when asked to account for $2 TRILLION in taxpayer-backed loans!

Well, why do you think they refused?

They know coming clean with Congress and the American people on how they doled out that two TRILLION dollars would result in an anti-Fed firestorm.

So can you imagine the impact of a full-scale audit? You and I will finally be able to show the American people that the Federal Reserve System leads to:
*** Constant economic crises — the housing crisis and the resulting chaos is just one example of an economic bubble created by centrally-planned interest rates and money manipulation;

*** The destruction of the middle class — as fuel, food, housing, medical care and education costs soar, everyone who is NOT on the government dole is forced to make do with less as the value of their money slowly decreases;

*** Currency destruction — history shows us that riots, violence and full-scale police states can result when people finally realize our money isn’t worth the paper it’s printed on and REFUSE to accept it.
And unless you and I do end the madness in Washington, D.C., we may be closer than we’d like to think to learning that history lesson firsthand — right here in our own streets.

That’s why your commitment to helping pass the Audit the Fed Bill –- and helping Campaign for Liberty fight this battle — is so vital.

Just a few months ago, there was no chance of passing any legislation like the Audit the Fed Bill. So I guess there has been one “CHANGE.”

You see, with the piling up of trillions of dollars in out of control “bailouts” of Wall Street and international bankers, even many politicians in Washington want to show you they’re “being responsible.”

What better way for Congress to do this than by auditing the Federal Reserve to account for the trillions stolen from the U.S. taxpayers?

More and more Congressmen are already feeling the pressure and are signing up to support this bill. I’ve even received word this bill could move in the next few weeks in the U.S. House.

When that happens, you and I must be ready to fight.

And, it’s both a bill we CAN pass, and one that is vital to exposing the massive corruption and dollar manipulation at the Federal Reserve.

You see, after regulating, taxing, spending, borrowing and printing us into what looks like the worst recession in decades, establishment politicians and power brokers are assuring us they’re working hard to “fix” our economic woes. What is their solution? You guessed it. More of the same!

And even if the Audit the Fed Bill is defeated this time, just forcing a vote is a win/win situation.

Can you imagine how many politicians will pay the price at the ballot box in 2010 when you and I tell the American people their Congressman somehow lost trillions of taxpayer dollars and refused to even LOOK for it?

Now we just need to show Congress the American people demand action on the Audit the Fed Bill. Here’s how we plan to do that.

First, we’re already busy contacting up to five million activists nationwide through mail, phones and email to generate petitions to the U.S. Congress demanding action on Ron Paul’s Audit the Fed Bill.

But that’s just the beginning. We’ll work the talk radio stations and grant local media interviews to ratchet up the pressure even further on Congress.

And a few days before the vote, if we have the resources, we’d also like to run hard-hitting targeted radio, TV and newspaper ads.

This entire program is designed to send this one, CLEAR message to Congress: Any politician who votes against the Federal Reserve Audit should look for another job.

But such a massive effort won’t be easy — or cheap.

So in addition to submitting your petition, I also hope you’ll agree to make a contribution of $1000, $500, $250, or $100 to Campaign for Liberty.

If $100 is too much to ask right now, please make a contribution of $50 or even $25 today. Every dollar will help, and every dollar will go to this vital fight.

I know times are hard, but if we don’t take action, the America we see in just a few years could look far worse than even the one we see today.

Can I count on you to join the fight to AUDIT THE FED by clicking here to sign the petition, and by making a generous contribution of $1000, $500, $250, $100, $50 — or whatever you can afford — to Ron Paul’s Campaign for Liberty?

Sincerely,

John F. Tate
President

P.S. Please submit the petition urging your Congressman and Senators to cosponsor and seek roll call votes on Rep. Ron Paul’s Audit the Fed Bill TODAY!