Ron Paul – Suddenly All Over the News :)

I tuned into Yahoo Finance this morning. I usually do it to amuse myself about newsflashes such as “Stocks advance on cheaper oil.” and “Stocks fall as lower oil fuels demand worries”.

But what do I find today? On the front page there are 5 different stories involving Ron Paul:
ron-paul-all-over-the-news
Click image to enlarge.

(…they are even interested in his appearance in the movie Bruno)

One may wonder why this was not the case when it actually mattered, like during the Republican primaries for example, or in 2003 when he warned about the disaster that subsidized loans made by Fannie and Freddie will cause. However, late enlightenment is better than none at all. The Campaign for Liberty is winning. The proof is in the pudding.

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Ron Paul’s Audit the Fed Bill – Now 242 Co-Sponsors

While President Obama continues his mindless praise for the Federal Reserve and Ben Bernanke, the representatives in the House continue to sign on to audit the Fed:

Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 242 co-sponsors, and the numbers keep growing! At the same time, HR 1207’s companion bill in the Senate, S 604, is beginning to attract its first co-sponsors!

This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With more than 55% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

… history in the making indeed! But no time for complacency. The companion bill in the Senate, S604 still needs more co-sponsors.

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Ron Paul’s Audit the Fed Bill Gains Majority Support

And finally, enough Congressmen and -women are on board with Ron Paul’s push for more transparency. Audit the Fed Bill Reaches Crucial Benchmark:

Washington, D.C. – Congressman Ron Paul’s Federal Reserve Transparency Act, HR 1207, has reached and surpassed the level of 218 cosponsors in the House of Representatives, which means it is now cosponsored by a majority of the members.

The 218th cosponsor was Dennis Kucinich (OH-10), and the bill has since received its 222nd cosponsor.

“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul. “I look forward to this issue receiving greater public exposure.”

Hearings on Federal Reserve transparency are expected within the next month, as part of the Financial Services Committee’s series of hearings on regulatory reform.

… unfortunately, I expect the Senate to do everything they can to dilute the bill, so no time for complacency here.

However, it is truly remarkable how the Campaign for Liberty has come at this point. While government officials left and right are capable of nothing but staging a deplorable circus, one Congressman from Texas has accomplished much more than anyone of the people who are supposed to be in charge.

To repeat what I said back in February:

[Obama’s] fundamental misunderstanding on this matter is that he believes these disagreements are nothing but political games. They are not. They reflect sincere and deep-rooted concerns of the direction where this country has headed. They represent the voices of millions of frustrated workers, businessmen, housewives, students, and retirees calling their representatives, jammed fax machines, letters, town hall meetings, and the like. The movement for liberty is not one of political expediency. Its members are not in it for personal, monetary, or political gain. They are in it for true conviction and with all their heart. But on top of that, it is a movement of substance, reason, logic, and sound understanding of historical and economic facts. There is nothing in the world that could change some one’s mind, once one has understood the true blessings of Freedom, Liberty, Peace, Prosperity, and Happiness. It is a patient movement. It is not in a rush. It’s not gonna go away. It will grow stronger year by year. To ignore it would be the biggest mistake Obama could make now.

… and this is only just the beginning. The movement marches on.

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Audit the Fed – Only 11 More Co-Sponsors Needed

Good news: Ron Paul’s Audit the Fed bill only needs 11 more co-sponsors to get a majority in the House …

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Ron Paul on GM – It’s Amtrak all over again …

Ron Paul writes in GM, Amtrak and an Increasingly Fascist America:

Last week, General Motors finally declared bankruptcy. Many in government thought $20 billion in taxpayer dollars would save the company, but as predicted, it only postponed the inevitable. The government will dump another $30 billion into GM and take a 60 percent controlling interest for it. Public officials are now involving themselves in tactical business decisions such as where GM’s headquarters should move and what kind of cars it will build.

The promise that this is temporary and will eventually be profitable is supposed to ease the American people into accepting this arrangement, but it is of little comfort to those who remember similar promises when the American taxpayers bought Amtrak. After three years, government was supposed to be out of the passenger rail business. 40 years and billions of dollars later, the government is still operating Amtrak at a loss, despite the fact that they have created a monopoly by making it illegal to compete with Amtrak. Imagine what they can now do to what is left of the great American auto industry!

In a truly free market, GM would get your money one way and one way only — by selling you a car you want, at a price you are willing to pay. Instead, the government is giving public money to a private company in spite of the market signals it has been sending. Throwing money at GM does not stop it from being an engine of wealth destruction; on the contrary, it simply gives it more wealth to destroy.

Had it been allowed to fail naturally, the profitable pieces of GM would have been bought up and put to good use by now. The laid off employees would likely have found new jobs and all that capital would be in private hands, reinvested in companies that produce products demanded by consumers. Instead, we are all poorer now.

Political pressure, rather than the rule of law, is deciding how to divide up the remains of GM. The bondholders had billions in retirement savings invested in the company, and though they were entitled to nearly three times as much as the United Auto Workers, the bondholders were left with just a 10 percent stake compared to the union’s 17.5 percent stake. For their 60 percent stake, taxpayers have a future of constant bailouts to look forward to.

Comingling public control of private business is known as fascism. While today’s politicians may feel emboldened with all their new power, history will only repeat itself as all this collapses on itself. It is the height of hubris for bureaucrats and politicians to attempt to control the market and the freewill of the American people. In the end, the market always wins out. Maybe one day future generations will wise up and allow free markets to function and thrive without the albatross of government around its neck. For now, it looks like those in charge have not learned the lessons of the past, and have doomed us to repeat those mistakes once again.

… GM is here to stay for a long, long time. It will take ongoing subsidies, monopoly rights, and bureaucracy to keep it on live support. Bureaucracy is the scourge of the US System. More bureaucracy won’t fix it. Favoritism will be rampant. Corruption scandals along the way will be predictable. The solution presented to fixing such problems will be yet more bureaucracy. As Ayn Rand wrote in Atlas Shrugged:

Politicians invariably respond to crises — that in most cases they themselves created — by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.

There is no point in denying the inevitable Trouble with Bureaucracy:

So long as the government confines its activity to the protection of individuals against aggression and theft only little harm can be inflicted. Every expansion of governmental powers, however, will inevitably lead to a bureaucratic misuse of the scarce factors of production available, an increase in poverty, and a lower standard of living for everyone.

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