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Federal Reserve Counterfeiting Update
Quote of the Day: “Central banking is almost entirely a phenomenon of the 20th century … . created as a means of financing the government… . If you say central banking is essential to a free market economy, I have to ask you about Hong Kong, which has no central bank at all … Yet it does quite well in terms of economic growth and stability.” — former Federal Reserve Chair Paul Volcker, speaking in August, 1990, at a symposium sponsored by the Federal Reserve Bank of Kansas City
Subject: Federal Reserve Counterfeiting Update
Most counterfeiters don’t confess their crimes, but the Federal Reserve does. The Fed has just revised its March counterfeiting confession UPWARDS.
When last we reported the basic money supply as of March stood at 1.644 trillion
Now, as of an update on May 1st, the Fed has increased this number to 1.647 trillion, an increase of 3 billion additional counterfeit dollars.
The January and February numbers have also been revised … HIGHER!
Remember what this means — every time the Fed creates new dollars your money becomes less valuable. Also remember that those who get the money first (mainly banks, borrowers, and those with government contracts) profit from this legalized counterfeiting at YOUR EXPENSE.
How do you stop this? The easiest plan is to break the Fed’s monopoly control over what you use for money.
In the last Congress (110th), Congressman Ron Paul introduced three “Honest Money” bills …
* Repealing the legal tender law that forces you (everyone) to accept Federal Reserve Notes (FRNs)
* Repealing the federal government’s monopoly over coinage
* Prohibiting federal and state taxes on precious medal coins and bullion
These simple changes would allow you to buy and sell using means of exchange other than FRNs. For instance, you could use gold and silver, either electronically, as paper notes, or as coins. FRNs would have to compete with other forms of money, and this competition would limit the Fed’s ability to counterfeit.
Few people will prefer FRNs if they’re constantly losing their value!
So we don’t have to abolish the Fed as our first step. We can start by de-fanging it.
Here’s the problem: Congressman Ron Paul has not yet re-introduced these bills. We don’t know what he’s waiting for! If you donated to his campaign, or one of his organizations, or you’re a constituent in Texas, we encourage you to call his Congressional office and ask. Then, hit reply to this message and tell us what you learn from the call. Here’s the office number: (202) 225-2831
Frankly, these parts should be combined into one bill. They were developed as part of an evolving process. But now that we have the parts, these three bills could easily be re-introduced as one bill. Please encourage Representative Paul’s team to introduce all three parts as one bill.
If you believe we need to end the Fed …
If you want to protect your savings from the ravages of inflation …
… these Honest Money provisions constitute the very most important step.
EVERYONE, please use our quick and easy Educate the Powerful System to ask your representatives to re-introduce or co-sponsor Ron Paul’s “Honest Money” bills.
You can use your personal comments to mention that the Fed has revised its basic money supply numbers upward to 1.647 trillion for the month of March. Tell your representatives that you’re tired of all this legalized counterfeiting.
Remember, every new fact we give you justifies another message to Congress. Tell your Congressional employees what you want them to do.
Last month we pounded Congress with 31,730 messages. To exceed that number this month we need Downsizers to send NUMBER messages today. Send your personalized message at DownsizeDC.org’s End the Inflation Tax campaign.
Let’s send as many messages as possible.
Ask others to do the same. You can educate, recruit, and spark action, in one easy step, by sharing this Dispatch with others.
Thank you for being a part of the growing Downsize DC Army. To see how much we’re growing please check out the “Keeping Score” report below my signature.
Jim Babka
President
DownsizeDC.org, Inc.
