Patriot,

The key take-away from yesterday's hearing on Central Bank
Digital Currency and stablecoins in the House Financial Services
Subcommittee on Digital Assets, Financial Technology, and
Inclusion is that members of this committee on the future of
money don't understand money!

Witnesses addressed the members of Congress like they were
explaining things to children, which is essentially what they
were doing. Nobody on the committee seems to understand
"stablecoins" . . . yet they are very keen on government
regulations regarding them.

The Columbia University professor even sneered in his testimony
that "the overall discussion on stablecoins has been chaotic,
confused, misinformed, uninformed, and likely value subtracted
for those watching from the outside and trying to understand the
space, such as the members of the committee."

Notably, two witnesses were clearly opposed to Central Bank
Digital Currency (CBDCs), with the Blockchain Association saying
in its testimony that the United States government should support
stablecoins instead of creating a CBDC.

This is a misdirection play aimed at creating the sense that one
or the other must done. We could do neither.

For their part, the committee members seemed most focused on
restricting competition to the dollar, which they regard as doing
fine and dandy. They love the fiat currency system. They don't
seem to feel impacted by inflation.

And they want the Fed to do more . . . without oversight.

But just because Congress is monetarily illiterate does not mean
they, or the American people, should be kept in the dark.

If Congress passed Audit the Fed, you and I would discover how
degraded the dollar has become. Until we lift the Fed's veil of
secrecy, we're going to keep getting ill-informed policies like
this.
[link removed]

One thing we confirmed this week is that your calls make a
difference. We heard from many of our supporters that their calls
got through and that staffers - particularly in Democrat offices,
interestingly - were receptive to your message.

In the past, when brought to the House floor for a vote, Audit
the Fed passed by overwhelming, veto-proof majorities with
support from both parties. Because when they have to cast a vote,
few of them have the gall to stand for secrecy over how our money
is manipulated for politics.

If passed, Audit the Fed would finally show the American people
that the Federal Reserve System leads to:

>>> Ever-expanding Big Government boondoggles like ObamaCare

Now that politicians have figured out the Fed will just print
money out of thin air to pay the bills if taxing and borrowing
can't make ends meet, the floodgates are wide open for even more
of the statists' utopian plans.

>>> Constant economic crises

The 2008 housing crisis and the resulting chaos is just one
example of an economic bubble created by centrally planned
interest rates and money manipulation. Today, inflation is out of
control, and the stock market is a bubble ready to burst.

>>> The destruction of the middle class

As 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 sinks.

>>> Currency destruction

History shows us riots, violence, and a full-scale police state
can result when people finally realize their money isn't worth
the paper it's printed on and businesses REFUSE to accept it.

And pressing for a full audit of the Federal Reserve will have
the additional benefit of putting a spotlight on the Fed's
nefarious scheme to introduce a Central Bank Digital Currency and
bring their plans crashing to a halt.

Even if you've already done so, please take a moment to tell
Congress to Audit the Fed!
[link removed]

I truly believe we can finally Audit the Fed and put an end to
their surveillance digital dollar scheme. But only with your
help.

So after you've sent your directive to Congress, please make your
most generous contribution of $100, $50, or at least $35 as well!

[link removed]

For Liberty,

John McCardell
Executive Director

P.S. You and I can put the pressure on Congress to grow the
number of co-sponsors significantly and force a vote on the House
floor.

America is strapped under a national debt of over $31 TRILLION
thanks to Congress' never-ending spending spree and decades of
the Fed's print-now, ask-questions-later monetary policy.

That's nearly a quarter million dollars per taxpayer.

America could already be veering toward a disaster unmatched in
history and the Federal Reserve is on a money printing binge like
we haven't seen since the last financial crisis of 2008.

If we don't expose the Fed now, I'm worried this collapse could
wipe out every last shred of American wealth!
[link removed]

So please make your most generous contribution to help Campaign
for Liberty rein in the Federal Reserve once and for all!
[link removed]


Join Ron Paul's Patriot Club with a monthly contribution! Your
support sustains our work and members are automatically entered
to receive special giveaways autographed by Ron Paul.
[link removed]

The mission of Campaign for Liberty is to promote and defend the
great American principles of individual liberty, constitutional
government, sound money, free markets, and a constitutional
foreign policy, by means of education, issue advocacy, and
grassroots mobilization.

© Campaign for Liberty, 2012. Paid for by Campaign for Liberty
and not authorized by any candidate or candidate's committee.

Because of Campaign For Liberty's tax-exempt status under IRC
Sec. 501(C)(4) and its state and federal legislative activities,
contributions are not tax deductible as charitable contributions
(IRC § 170) or as business deductions (IRC §
162(e)(1)).

www.CampaignForLiberty.org


This message was intended for: [email protected]
You were added to the system June 27, 2019 [More information].
Update your preferences | Unsubscribe

----Powered by Paramount Communication----
[link removed]