Patriot,

As Campaign for Liberty has been saying since the re-election of
President Trump, you and I have an incredible opportunity in
front of us to rein in the out-of-control Federal Reserve.

Perhaps sensing this, Fed Chairman Jerome Powell defiantly
announced he would not step down even if Trump asked or demanded
he do so.

As I discuss in my latest column (read it below), Trump should
rein in the Fed, but replacing Jerome Powell would not solve the
fundamental problem.

Interest rates should be set by the market, not by the secretive
Federal Reserve bureaucrats - and not by Washington politicians,
either!

The solution is to shine a light on the truth about the political
nature of Federal Reserve policies, and that will only happen by
passing my AUDIT THE FED bill.

And then, when the American people have seen the truth, by
shutting it down.

Read the full column below, and if you agree, please make a
contribution to support C4L's efforts to Audit (and then End) the
Fed!
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You can help me achieve this goal by sending a directive to
Congress to Audit the Fed!
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For Liberty,

Ron Paul


Make Money Free Again


Two days after Donald Trump became the first American since
Grover Cleveland to win nonconsecutive presidential elections,
the Federal Reserve announced a quarter percent cut in interest
rates. Following this announcement, Fed Chairman Jerome Powell
held a press conference where he said that he would not comply
with any presidential request that he step down before his term
ends in May of 2026.

Powell claimed that the president lacks the legal authority to
fire the Fed chairman. So, if President Trump tells Chairman
Powell "you're fired," Powell could bring suit asking a court to
review Trump's action.

President Trump and Chairman Powell are at odds over President
Trump's desire to require the Federal Reserve to consult with the
president before changing interest rates or taking other
significant actions. Powell is likely to do all he can to
convince Congress to reject any legislation giving the president
any type of official role in setting monetary policy.

After all, Chairman Powell is so protective of Fed autonomy that
he opposes auditing the Fed on the grounds that it could threaten
the Fed's independence, even though there is nothing in the Audit
the Fed legislation giving the president or Congress any new
authority over the Fed's conduct of monetary policy.

Requiring the Fed to consult with the president regarding
monetary policy would likely increase price inflation and dollar
devaluation. Politicians usually like low interest rates because
they associate low rates with economic growth.

Politicians also want the Fed to keep rates low so the federal
government can keep racking up huge amounts of debt. Without a
central bank that is ready, willing, and able to monetize the
federal debt, the welfare-warfare state would not exist.

Despite the claims of Chairman Powell and other central bank
apologists, the Fed has never been free of political pressure.
Presidents were trying to influence the Federal Reserve long
before Donald Trump began posting "mean tweets" about Jerome
Powell. Requiring the Fed to consult with the president would at
least make the president's efforts to influence monetary policy
open and transparent.

President Trump and other Fed critics such as Massachusetts
Senator Elizabeth Warren think they are more capable of
determining the "correct" interest rate than the Fed. This
ignores the fact that interest rates are the price of money and
like all prices are shaped by a variety of constantly changing
factors. When the Fed manipulates interest rates, it distorts the
signals sent to investors. The result is the boom- bust business
cycle. The fiat system is also responsible for rising income
inequality and the decline of the dollar's purchasing power,
which has lowered most Americans' standard of living.

President Trump should work to eliminate the need for the Fed to
keep interest rates low. He can do this by fighting for massive
spending cuts, starting with the military-industrial complex. He
should also push Congress to pass the Audit the Fed bill.

Additionally, President Trump should support legalizing all
competing currencies. The forthcoming tax bill should include a
provision exempting precious metals and cryptocurrencies from
capital gains taxes. The key to making America great again is to
make money free again.
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If you would like to make a donation by mail, please send your
check to Campaign for Liberty, PO Box 104, Lake Jackson TX 77566
or you can call 703-865-7162.

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


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