The Fed's Bad Year

October 9, 2010

It was bound to happen eventually. After printing trillions of dollars out of thin air, the Fed's printing presses finally “broke.”

In a press release last week, the Federal Reserve announced the delay of the new $100 bill after they discovered an error in the printing process.

While it isn't going to slow them down for long, it's just another item on a list of things that have gone wrong for the Federal Reserve over the past year.

Two years ago, most Americans knew little - to absolutely nothing - about the Federal Reserve, and that's the way the Fed liked it. However, times have changed.

And it's all because of you.

When we embarked on the challenge to Audit the Fed, no one, least of all the folks at the Federal Reserve, could have predicted how far it would go.

For over 30 years, Congressman Paul has attempted to open up the Federal Reserve and shed sunlight on its books. Never before had his bill made it out of committee, let alone received a roll call vote in both houses of Congress.

Even though the final audit included in the Dodd/Frank bill was more of a fig leaf to cover up Fed-loving congressmen than a real gain for liberty or transparency, it shows just how frightened the Fed and its enablers are becoming of a citizen outrage.

Thanks to your efforts, the Federal Reserve is now a household name and most people now recognize its actions as a cause of the recession rather than a solution, and its actions are frequently scrutinized in the media. No longer can the Federal Reserve go about its daily business without people asking questions.

Because of you, 80% of Americans are now in favor of a full audit of the Federal Reserve.

It wasn't easy for the Fed to water down the audit. It took everything they had, including hiring a powerful and well connected ex-Enron lobbyist and circulating letters signed by so-called “renowned economists” who made it sound as if we would bring on the apocalypse itself if the Fed were subjected to an audit.

Even the Obama administration was forced to come out in opposition to the audit to help the Fed save face.

Due to the immense pressure from grassroots activists, Ben Bernanke was reconfirmed with the lowest vote of any Fed Chairman.

Together, we were able to put senators and representatives on the record as being either for or against transparency at our nation's central bank.

With your continued support, Campaign for Liberty will put federal candidates on the record for sound money and auditing the Federal Reserve with our Federal Candidate Survey Program.

You can see how your candidates answered the Federal Candidate Survey by visiting your state page on our website.

If the candidates in your area haven't yet filled out our survey, call their campaign today and ask them to return Campaign for Liberty's Federal Candidate Survey.

The liberty movement looked the Federal Reserve in the eye, and for a change, we made it blink.

We've given the Federal Reserve a rough time over the past year. Let's keep up the pressure!

In Liberty,



John Tate

President

P.S. Campaign for Liberty will continue to put politicians and candidates on the record about sound money and Audit the Fed, but we can only do so with your continued generosity.

Unlike the Federal Reserve and its broken printing presses, we can't magically print money out of thin air. Your contribution of just $10 will go a long way toward helping us keep pushing for sound money and transparency at the Fed.