Letter to Paul Hodes

It is not often that I write my congresscritter. It is a futile exercise that ultimately only serves to add legitimacy to their actions. We still have the "right" to voice our opinions to our representatives in government. They can claim they weighed the thoughts of the people and that they decided accordingly. A load of hullabaloo if you ask me, but I think ending the Federal Reserve (well, in this specific instance, auditing it) is one of the most important issues of our time. The evil that is this organizatin cannot be overstated. So, to further the end of auditing the Fed, I sent the following letter to the "Honorable" Paul Hodes:

Rep. Hodes:

I am writing to request that you join 271 other Representatives in sponsoring H.R. 1207, the Federal Reserve Transparency Act of 2009.

The Federal Reserve, since its inception in 1913, has caused massive devaluation of the dollar and the biggest financial crises this country has ever seen, including the Great Depression. Over the past century, many influential economists, such as Ludwig von Mises, Friedrich August von Hayek, and Murray Rothbard, have noted that central banks have the power to destabilize an economy through their manipulation of the money supply.

An audit of the Federal Reserve will likely highlight the enormous increase in the supply of money that has occurred during this current financial meltdown. The Fed has sent this money, often without congressional approval, to private companies for their own profit. The "independence" of the Fed threatens our Republic, our economy, and the quality of life for every American.

Sincerely,
Tyler Stearns

Congratulations to Bob Barr

Bob Barr just won the nomination to be the Libertarian Party's 2008 presidential candidate. As a Republican and libertarian I saw Ron Paul as the perfect candidate this election cycle. I still support Dr. Paul and he may still get my vote in November. But there is no chance I will support John McCain. From campaign finance to the war in Iraq to immigration policy McCain has been on the opposite side of true conservatives and libertarians. Bob Barr will offer us another option. He is a former Republican Congressman from Georgia so we know he can get Republican and broad-based support. He can also give an outlet for those who don't want to write in Ron Paul come November.

I still haven't made up my mind who I am voting for, but I can say that Bob Barr is near the top of the list. Congratulations to him and the Libertarian Party. Visit his website to learn more.

First in the Nation 2012

The RNC rules committee recently voted to 28-12 to set a 2012 primary schedule that affirms New Hampshire's first-in-the-nation status. The proposal still needs an OK from the entire convention this year, but I think this is a good start.

I worked with the Ron Paul campaign in New Hampshire and was a meetup organizer here at school in Ohio. The differences were quite large. The people of New Hampshire were generally more aware and open to Ron Paul's message, while everyone seemed so separated from the process in Ohio.

My anecdotal experience confirms what other people have long said: New Hampshire should have the first primary because we honestly care what is going on, it's who we are. Shouldn't those who care have an influential role in the process? I think so.

The Message Will Never Die

Great Ron Paul video:

Speaking of stable prices...

Fed chairman Ben Bernanke testified before Congress a few days ago, and was schooled once again by Ron Paul. My favorite statement by Bernanke, which he often repeats when discussing monetary issues with Dr. Paul, is that he is charged with creating "stable prices" via the workings of the central bank. It honestly blows my mind that you can assume you are creating price stability by inflating the money supply. Look at this graph of the MZM money stock:

The MZM money supply measurement is the sum of all physical currency, and checking, savings, and money market accounts. As you can see in the graph, this measure of money supply has increased from about $1 trillion in the early 1980's to an astounding $8 trillion today. Every extra dollar added to the money supply lessens the value of every existing dollar.

Just using that fact Bernanke should realize that there is inflation, and therefore prices are not stable. But what he does not even take into account is that in a free market system, with a money supply determined by the market, prices will tend to fall. Does it make any sense that in January of 1996 a gallon of whole milk cost $2.55 and in January of 2008 that same gallon of milk costs $3.87? Shouldn't the price of milk be falling as new technologies and techniques increase the rate of production?

I'm sure Bernanke would argue that there are other factors that lead to the increase of prices for things like Milk, Oil, and Bread. I would say, as Ron Paul did in the Congressional hearing, that prices seem to be stable when compared to the price of gold. We all complain of the rising price of oil, and its derivative gasoline, but do we ever ask what causes this? I believe it is mostly inflation (of course with the increased demand from China and a decreased supply from places like Iraq). Look at this graph of the Price of Oil vs. the Price of Gold:

Seems to me that over the 36 year period in this graph there wasn't much change in the price of oil relative to that of gold. People always say that advocates of a gold standard are strange. Do you think it is strange to want prices that are not continually rising? If you do, just chew on this fact: $100 in 1913 (when the Federal Reserve was created) is equivalent to $2,132.12 in 2008. That's all inflation.

So the next time you hear the Federal Reserve "economists" saying they are looking to stabilize prices and keep inflation to a minimum, remember that in nearly 100 years of existence they have done the opposite of that. Gold and silver look better every day.

The Ron Paul Counter-Revolution

Many libertarians laud the American colonists for instigating a revolution against the British crown, and rightly so. I don't see any more effective redress for the time and circumstances. But I have begun to think that continuing such an analogy to the Ron Paul movement is in error.

Can we really call this the Ron Paul Revolution? I say this is a Counter-Revolution. What is revolutionary about bringing back the traditions of freedom and limited government? I say it is revolutionary to call for destroying the Constitution and starting wars to "democratize" those countries we view as uncivilized.

Garet Garrett put it best in the opening of The Revolution Was:

"There are those who still think they are holding the pass against a revolution that may be coming up the road. But they are gazing in the wrong direction. The revolution is behind them. It went by in the Night of Depression, singing songs to freedom."

We are here to take back what is rightfully ours; no more New Deal-style socialism; no more Wilsonian wars for "democracy"; we want authentic prosperity and lasting peace.

What brought this all together for me was reading a blog post by John Cochran on the Mises Institute Blog. He posted a poem by Patrick Barrington, entitled "I Want to be a Consumer":

I Want to be a Consumer

"And what do you mean to be?"
The kind old Bishop said
As he took the boy on his ample knee
And patted his curly head.
"We should all of us choose a calling
To help Society's plan;
Then what to you mean to be, my boy,
When you grow to be a man?"

"I want to be a Consumer,"
The bright-haired lad replied
As he gazed into the Bishop's face
In innocence open-eyed.
"I've never had aims of a selfish sort,
For that, as I know, is wrong.
I want to be a Consumer, Sir,
And help the world along."

"I want to be a Consumer
And work both night and day,
For that is the thing that's needed most,
I've heard Economists say,
I won't just be a Producer,
Like Bobby and James and John;
I want to be a Consumer, Sir,
And help the nation on."

"But what do you want to be?"
The Bishop said again,
"For we all of us have to work," said he,
"As must, I think, be plain.
Are you thinking of studying medicine
Or taking a Bar exam?"
"Why, no!" the bright-haired lad replied
As he helped himself to jam.

"I want to be a Consumer
And live in a useful way;
For that is the thing that is needed most,
I've heard Economists say.
There are too many people working
And too many things are made.
I want to be a Consumer, Sir,
And help to further trade."

"I want to be a Consumer
And do my duty well;
For that is the thing that is needed most,
I've heard Economists tell.
I've made up my mind," the lad was heard,
As he lit a cigar, to say;
"I want to be a Consumer, Sir,
And I want to begin today."

The true revolutionaries are those who inverted the entire discipline of economics. The Austrian economists fought for decades to show that prosperity can only be attained through production, savings, and capital accumulation.

The post-Keynesian and neoclassical economists of today would have you believe that printing money and spending it is the true path to a world of wealth. That is simply wrong; it is, however, the true path to depression and financial disarray.

I could be mistaken, but I do not see what is revolutionary about returning to sound economics, limited government, and a humble foreign policy. We had it once and they stole it from us. Let's win it back.

Long Live the Counter-Revolution!

Campaign Statement Following $6 Million Day

From the Ron Paul campaign:

ARLINGTON, VIRGINIA - Following its historic fundraising day on December 16th, Ron Paul campaign chairman Kent Snyder issued the following statement:

"There is an unprecedented outpouring of grassroots support for Dr. Paul. The message of freedom is powerful and uniting people across America. And, Dr. Paul is the only candidate offering real solutions to the issues Americans care about, with the record to back it up.

"Americans are sick and tired of our broken borders and they know the other candidates are not serious about illegal immigration. Dr. Paul has proposed serious and substentative legislation to fix our immigration problems once and for all.

The $6 million one-day total means the campaign has raised over $18 million this quarter, far exceeding its goal of $12 million.

"Finally, as Americans see the value of their dollar plummet, they know Dr. Paul has devoted his political career to stopping the inflation that makes it impossible for middle-class families to get ahead. Only Dr. Paul has a plan to cut spending, balance budgets and take care of people who have become dependent on government programs.

"Americans spoke loud and clear on December 16th. They want Dr. Paul's solutions."

$6 Million in 24 Hours

I thought November 5th was big, but December 16th, the 234th anniversary of the Boston Tea Party, takes the prize.

You can find the figures at Ron Paul Graphs and the analysis at their Blog.

Apparently the biggest fundraising day in campaign history (regardless of party or source) was by John Kerry in 2004; he took in about $5.7 million in 24 hours. Ron Paul just made over $6 million with almost 60,000 donors.

What will the establishment make of it? Probably not much. After all, what would they do without more war and more taxes?

Ron Paul 4th Place in NH

Two of the latest opinion polls have Ron Paul in fourth place for the New Hampshire GOP Primary. The first, from Marist College Institute for Public Opinion, has Dr. Paul at 7%, tied with Mike Huckabee. The second, from the Boston Globe also has him at 7%, but ahead of Huckabee.

Some interesting things to note:

Boston Globe Poll

- 60% of Republican voters have not decided on a candidate
- Ron Paul is in 4th Place for "Which candidate is the strongest leader", "Which candidate can best deal with terrorism", "Which candidate has the most experience", and "Which candidate has the best chance of beating the Democratic nominee"

Marist Poll

- Paul breaks his tie with Huckabee among self-described "Republicans"
- He is polling at 18% among those who make less than $50,000 a year, putting him in third place behind only Romney and Giuliani.
- He is at 12% in the 18-44 age group, once again putting him only behind Romney and Giuliani.
- Paul is also in fourth place, beating Thompson and Huckabee, when asked "Who has the best chance of beating a Democrat"

Great Ad Suppoting Ron Paul

I just saw a link to this new ad at LewRockwell.com

Ron Paul is the only GOP that gets it about Iraq: