Dear Friend of Liberty,
Last Wednesday, the Federal Reserve announced it was going to buy another $600 billion of government bonds.
Dubbed “Quantitative Easing 2” (QE2), Fed leaders hope this move to pump money into the economy will lower interest rates (which are already near zero). Instead, it’s more of the same type of interference that led to the housing bubble and this current crisis.
Printing more money out of thin air is not the solution, and this move has been criticized throughout the world. Even Paul Volcker, who was Fed chairman under Presidents Carter and Reagan, has said QE2 “probably won’t do much” to help our economy recover.
The criticisms come as only part of a backlash that has been building since the Ron Paul presidential campaign and C4L’s founding. With our Audit the Fed movement leading the way, more Americans are becoming skeptical of the nation’s central bank and aren’t as willing to accept the usual story from Washington.
During our fight to Audit the Fed this Congress, many of the legislators who cosponsored H.R. 1207 when it was “safe” to do so turned their backs on transparency when a thorough audit was on the line. We created a Hall of Shameto list these representatives – many of whom won’t be returning in the new Congress. On Tuesday, 24 of them were denied reelection.
As if there couldn’t be any more attention put on the Fed, Congressman Ron Paul is next in line to become the chairman of the House Subcommittee on Domestic Monetary Policy and Technology, the committee that provides regular oversight of the Fed. Stay tuned to CampaignForLiberty.com as we report the latest developments on this front.
In “honor” of the Fed’s announcement, we’re making one of our own. From now until Tuesday, November 9, C4L is selling Dr. Paul’s latest book, End the Fed, for only$9.95. This is less than half the cover price. Coordinators can take advantage of their discount to grab a copy for only $7.96.
If you’ve never read this work, don’t miss this opportunity! If you already own one, End the Fed will make a great gift for family and friends this holiday season! You could also get an extra copy to donate to your local library.
Watch the following video to see Congressman Paul talking about the book when it was originally released:
The Federal Reserve is being forced to play defense like never before, and now is no time to back down. Grab a copy of End the Fed and keep spreading the sound money message! Its ultimate impact depends on each one of us.
In Liberty,
John Tate, President
