Posts Tagged sound money
Senate Bill S.604 – Thanks Senator Vitter
Posted by BillORights in S. 604 on June 17th, 2009
So, by now most of us are familiar with House Bill H.R. 1207 introduced by Representative Ron Paul. The house bill would make it legal for the Government Accountability Office (GAO) to audit the Federal Reserve. (Yes, that’s right, the same Federal Reserve that will not tell us where $9 trillion went, is not allowed to be audited right now … unless they say we can!) That House bill is now up to 232 Cosponsors!
Senate Bill S.604
H.R. 1207 has a related bill in the Senate: S.604. This bill is vitally important, but is currently struggling with only two cosponsors. I am pleased to say that one of them is our Senator David Vitter. Thank you Senator for taking a stand with us. We appreciate your courage – and believe me, standing up to the international banking elite takes courage.
To the other Senators, with the exception of Senator Jim DeMint and the sponsor Bernie Sanders: SHAME ON YOU! Who do you represent? The people or the banking elite? Bernie Sanders found out who is in control when he asked Federal Reserve Chairman Ben Bernanke to tell him what the Federal Reserve did with $2.2 trillion of our money. Bernanke’s answer was short and to the point: “No”.
Steve Scalise Cosponsors H.R.1207
Posted by BillORights in Government Finances, H.R. 1207, Money, federal reserve on May 21st, 2009
Great news! According to “THOMAS Library of Congress”, Representative Steve Scalise finally co-sponsored H.R. 1207.
Steve Scalise Cosponsors H.R. 1207 on 5/20/2009
Thanks to all who signed the petition. We know there were not thousands of signatures, but we know that each of you who signed the petition share our concern about the financial health of our country. And here is an entertaining coincidence: Representative Scalise just happened to cosponsor the resolution on the day that your petition was delivered to him! Steve, we’ll give you both the benefit of the doubt and kudos for great timing!
H.R. 1207 Now Cosponsored by 40% of the House
As I write, 175 out of 435 Representatives now cosponsor this landmark legislation, including 30 Democrats. This is just the start of our pressure. We need to make sure this gets through the house and that the Senate hears our voices.
How to Contact Representative Scalise
We suggest you contact Steve Scalise via his website and thank him for cosponsoring H.R. 1207.
We Must Stop Them Before They Bankrupt Us
Posted by BillORights in Debt, Economy, Government Finances, National Debt, Social Security on April 14th, 2009
As you can see from the content on our Home Page, our financial situation is beyond dire. In fact, we are in deep, deep, trouble. We owe more money to future generations than the entire world produces in almost two years (source: CIA). This is incredible. This money is promised in Social Security and Medicare payments.
We Have Negative Equity
When your liabilities exceed you assets, you have a negative net worth. So it is with government finances. It owes, may more than it owns.
We Are Cash Flow Negative
The government debt is staggering. At over $11 trillion, it is almost equal to GDP. As scary as this is that we are borrowing $1 trillion/year to finance government spending! We spend more than we earn.
Our Government is Technically Insolvent
When you spend more than you earn and you owe more than you own, the word to describe the situation is insolvent. Another way to look at it is that we are bankrupt. This is not technically correct, because bankruptcy is a legal proceeding following insolvency.
We’re Borrowing from Foreigners
The only thing keeping our government functioning is that foreigners are still willing to lend it money. Once they realize the true state of the United States government finances they will stop. When they do, we will be in big trouble. This has started in the United Kingdom and will happen here unless we immediately change course. When a country starts buying up its own debt by printing money, watch out: Hyperinflation could be coming.