Patriot,

Behind all of the preening and posturing at last week's World
Economic Forum "Masters of the Universe" conference in Davos is
the subtext that the policies they advocate are good for "the
world," i.e. ordinary working people.

As I expose in my latest column below, nothing could be further
from the truth!

While these "elites" never call for a reduction in
special-interest spending that benefits their own social class,
they're happy to call for more money-printing which literally
robs the public of our savings.

But even more sinister is the fact the Fed is able to manipulate
the American economy for its desired political outcomes - and
nobody is allowed to see how it does so.

The Fed operates under a veil of secrecy which enables it to
influence elections. By printing money, it can simply "buy time"
for the all-important economy.

This must be stopped, and the way to stop it is to Audit the Fed.


Even if you've already done so, please send a directive to your
lawmakers to Audit the Fed. Now that the bill is re-introduced in
the Senate, it's vital we get more cosponsors on board.
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And if you can, please support Campaign for Liberty with a
generous contribution to continue the fight to Audit the Fed!
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For Liberty,

Ron Paul



Select politicians, government officials, economic elites, and
experts arriving at the annual World Economic Forum meeting in
Davos, Switzerland were greeted with an open letter signed by
more than 250 billionaires and millionaires. The signers request
their respective governments raise their taxes.

The letter signers are concerned about "inequality" that they say
"has reached a tipping point." The cost of this inequality "to
our economic, societal and ecological stability risk," the letter
continues, "is severe - and growing every day." They may have a
point. Since the 2008 market meltdown, resentment against those
at the top of the income ladder has been growing. However, this
is not because people are envious of those able to profit in a
free market. Rather, the resentment is rooted in the corporatist
system that rewards those who manipulate the political process.

If the signatories to the letter want to truly end the type of
inequality that fuels populist rage, they should stop calling for
tax increases and instead call for an end to government programs
and policies that benefit the rich and powerful. Included are
programs like the Export-Import Bank that subsidize large
corporations, health and safety regulations that cartelize
markets while failing to protect consumers, and interventionist
foreign policy that enriches the military-industrial complex
while making the rest of us poorer and more vulnerable to
terrorist attacks.

The Federal Reserve is the leading cause of inequality. This is
not surprising considering it was created at the behest of
bankers and rushed through Congress just before Christmas when
few Americans were paying attention. Many Americans became aware
of how the central bank tailors its policies to benefit the
financial elites following the 2008 meltdown. Then, the U.S.
government, enabled by Fed money printing, bailed out large
financial institutions while average Americans suffered.

The Fed had been helping big firms for many years. In the 1990s
it was common for the Federal Reserve, then under the leadership
of Alan Greenspan, to pump money into the market in response to
apparent crises. This was named the "Greenspan put" by the
financial press. The new money would help some companies and
their wealthy owners, while reducing most Americans' purchasing
power.

Middle- and working-class Americans suffer the brunt of
inflation, which is properly defined as the central bank pumping
money into the economy thus reducing the dollar's purchasing
power.

In a free market, most people will be able to have a satisfactory
standard of living and recognize that the "super rich" earned
their fortunes by offering goods and services that served the
needs and wants of consumers while providing good jobs at good
wages to fellow citizens. In contrast, in a "mixed economy"
supported by a fiat money system, the average person will suffer
a steady erosion of his standard of living thanks to the central
bank's inflationary policies, while the crony capitalists
prosper. This is a recipe for social instability.

Those concerned with the detrimental effects of rising resentment
of income inequality should support repealing all federal
programs that reward crony capitalists - including programs
masquerading as providing national defense. They should also work
to audit then end the Fed.
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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.

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