Live Free Radio Keep Living Free

The House and Senate are expected to vote on the final version of the fraudulent "financial reform" bill this week.

We need to defeat this bad bill, HR 4173, which is a whopping 2,319 pages long.

To achieve REAL financial reform we need to pass Ron Paul's Free Competition in Currency Act instead. Please send a letter to Congress pushing for both of these outcomes.

You may borrow from or copy the following sample letter for this purpose . . .

In addition to supporting the "Free Competition in Currency Act" please vote NO on the big Obama-Dodd-Frank financial regulation bill, HR 4173. Ron Paul's currency bill addresses the root causes of the financial crisis, while the regulation bill does not.

The financial crisis was caused by . . .

* The Federal Reserve keeping interest rates artificially low
* The Federal Reserve inflating the money supply to satisfy Congress's deficit spending
* Government policies encouraging or forcing financial institutions to issue credit to undeserving people

Together, these policies caused the sub-prime mortgage crisis and the mal-investment of easy money. The result was the Great Recession.

What does the Obama-Dodd-Frank bill do to address these problems?

NOTHING!

Instead, it sets up a "Consumer Protection" agency whose regulations will conflict with other regulatory agencies.

* Congress wants to continue the policy of pressuring lenders to continue lending to borrowers with bad credit
* And then when those borrowers default, financial institutions will be blamed for "predatory lending"
* And I won't be surprised if some of these institutions are bailed out at the same time that they are being scapegoated

Worse, the Obama-Dodd-Frank bill will create armies of new regulators determined to harass Main Street businesses who did nothing to cause the crisis!

Even the one good aspect of the bill, an audit of the Federal Reserve, was severely weakened in the conference committee.

But the main problem with this bill is that it increases the power of the very people who helped create the crisis. Consider these insights . . . http://www.aei.org/outlook/100968

* Donald L. Kohn, vice chairman of the Federal Reserve Board: "Many central bankers and economists, myself included, were a little complacent coming into the crisis. We thought we knew enough about the basic structure of markets and the economy. . . . The reality is that we didn't understand the economy as well as we thought we did. Central bankers, along with other policymakers, . . . failed to foresee or prevent a financial crisis."
* Economist Arnold Kling: "The regulators made the same cognitive errors as the regulated."

Politicians and regulators do not know any more about the economy than the businesses and consumers they regulate. But Congress can do much more damage than any business can . . .

* You have vast powers to create laws and regulations that impact the entire economy -- no business or consumer can do that
* You suffer no personal consequence equal to the vast size of the mistakes you make, plus . . .
* You have a disturbing tendency to bailout big businesses and special interest groups to protect them from the consequences of their mistakes

At the heart of the problem is the fact that government is a monopoly. And the solution is for you to restore my freedom to choose. Ending the Federal Reserve's monopoly control over what I use for money is a good place to start . . .

* Americans are essentially forced to use just one currency unit, the dollar
* The dollar's value is NOT determined by the free market, but by the Federal Reserve Board
* This monopoly control by the Fed causes wild price fluctuations and mal-investments in a complex economy

Ron Paul's Free Competition in Currency Act provides the real financial reform we need. It repeals the legal tender law and allows other forms of money to compete.

* Individuals and businesses could negotiate their own terms of purchase, using any form of money they mutually agree on
* The open competition will force the Federal Reserve to stop inflating, thereby ending the booms and busts caused by the Federal Reserve's policies
* Power and choice will be in the hands of the consumer

I insist that you oppose the Obama-Dodd-Frank financial reform bill, HR 4173. Instead, Support the Free Competition in Currency Act!

END LETTER

You can send your letter through DownsizeDC.org's Educate the Powerful System.

We also urge you to tell your friends. Share this on Facebook. http://www.facebook.com/downsizedc

Jim Babka
President
DownsizeDC.org

IN THE NEWS
FINANCIAL REFORM
URGENT: Congress set to deform America’s financial sector
http://bit.ly/8YmyZ1

Financial Reform in Congress: A Disorderly Failure
http://bit.ly/dxVgF6

OIL SPILL 2010

BP controls access to medical care for Gulf Oil clean-up workers
http://bit.ly/cSONP4

Costner cleanup device gets high marks from BP
http://yhoo.it/bfDXNm

CLEAR Water Tests Positive for Oil, Officials Only Doing Visual Assessments
http://bit.ly/be1wx8

Video: BP Turning Beaches Into Hazardous Dumps?
http://bit.ly/bYSldm

US accepts international assistance for Gulf spill
http://bit.ly/9LyUGb

Oil spill visits get partisan
http://politi.co/b19FpM

BP worker found dead of natural causes
http://bit.ly/9HHqzD

OBAMA NATION

Obama's coffee house loophole
http://bit.ly/9CFBDT

Obama risks all on flip of a COIN
http://bit.ly/doE881

Obama's Twitter Account HACKED, Hacker says He Meant Well
http://bit.ly/by6ITn

POLICE STATE NEWS

Rights group ACLU plans to sue over US 'no-fly' list
http://bit.ly/cGnr9p

G20: never forget
http://bit.ly/8XqAfB

This is what a police state looks like!
http://bit.ly/9qfEoL

POLITICS & GOVERNMENT

Democrats appease Sen. Scott Brown
http://bit.ly/bE06jp

AZ lawmaker who questioned 9/11/01 seeks governor's seat, challenging Brewer
http://bit.ly/dg3u83

Kagan Declines To Say Gov't Has No Power to Tell Americans What To Eat
http://bit.ly/d6xsT4

Rationing us to Death: The Real Green Agenda!
http://bit.ly/df6WUR

Federal Judges Sitting On Critical Cases Is Inexcusable
http://bit.ly/a5RIlb

Who Will Pay - Wall Street Or Main Street?
http://bit.ly/9Ttsm3

Nullify, Repeal, and Vote them out!
http://bit.ly/d3Y1YZ

Fighting for Constitutional Government in America
http://bit.ly/cVhmVE

May Be 50 Undercover Russian Couples In US
http://n.pr/aTzSY1

7 Potential Economic Effects Of A War With Iran
http://bit.ly/bsSS2Q

ECONOMIC NEWS

25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010
http://bit.ly/dvX68c

Dem Congressman: Dow Jones Will Plummet 1,000-2,000 if Financial Regulation Isn't Passed
http://bit.ly/bVOEQI

Consumer Confidence Collapses Massively In June
http://bit.ly/bW73Sz

REAL ID & PRIVACY NEWS

Woman Denied DL Over Missing Marriage License
http://bit.ly/dx1Gfy

Biased State DMV Destroys Naturalization Papers and Other ID, Class Claims
http://bit.ly/aJvwBJ

Lesbian's DC marriage collides with Tennessee's DMV over name change
http://bit.ly/al52Hw

HEALTH NEWS

Medically-Caused Deaths In America
http://bit.ly/dbDt2M

IMMIGRATION NEWS

Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
http://bit.ly/bqGMmf

Whites in state 'below the replacement' level
http://bit.ly/bLPVfG

CHRISTIANITY NEWS

Grad's grievance goes to higher court
http://bit.ly/bi1Qbh

A 'muzzle' on pro-family groups
http://bit.ly/9qAPyp

HOMOSEXUAL AGENDA

Wis. Supreme Court upholds 'gay marriage' ban
http://bit.ly/cIaWeH

OUR COURT SYSTEM

Judge frees mom jailed for keeping son from rapist dad
http://bit.ly/aiSyuv

SCIENCE & TECHNOLOGY

Hackers vandalise 200 web sites, cripple 150
http://bit.ly/aBXzWt

Hackers Steal $465,000 from Escrow Firm
http://bit.ly/9fXH46

Instant Messenger Programs Targeted By Hackers
http://bit.ly/cteyDz

Hackers access Maine student information
http://bit.ly/9XNRjX

Hackers Target Non-PC Devices
http://bit.ly/bdzh2A