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September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in the repo market rose to almost 10 percent, well above the Fed’s target rate. The New York Fed claimed its intervention was a temporary measure, but it has not stopped pumping money into the repo market since September. Also, the Federal Reserve has been expanding its balance sheet since September. Investment advisor Michael Pento called the balance sheet expansion quantitative easing (QE) “on steroids.” I mention these interventions to show that the Fed was taking extraordinary measures to prop up the economy months before anyone in China showed the first symptoms of coronavirus. Now the Fed is using the historic stock market downturn and the (hopefully) temporary closure of businesses in the coronavirus panic to dramatically increase its interventions in the economy. Not only has the Fed increased the amount it is pumping into the repo market, it is purchasing unlimited amounts of Treasury securities and mortgage-backed securities. This was welcome news to [...]

Last Monday, a bipartisan group of Senators and a coalition including libertarian and progressive activists thwarted a scheme to ram through the Senate legislation renewing three provisions of the USA FREEDOM Act (previously known as the USA PATRIOT Act). The bill had already been rushed through the House of Representatives, and most expected it to sail through the Senate. But, instead, Senate leadership had to settle for a 77-day extension. Senate leadership was also forced to allow consideration of several amendments at a later date. Included is Sen. Rand Paul’s amendment that would forbid the FISA court from issuing warrants targeting American citizens. Deep state supporters claim the expiring business records provision (which authorizes the collection of our communications and was at the center of Edward Snowden’s 2013 revelations), lone wolf provision (which allows government to subject an individual with no known ties to terrorists to warrantless surveillance), and roving wiretaps provision (which allows government to monitor communications on any device that may be used by a targeted individual) are necessary to keep Americans safe. But, since Congress first passed the PATRIOT Act almost 20 years ago, mass surveillance, warrantless wiretapping, and bulk data collection have not stopped a single terrorist attack. The [...]

Campaign for Liberty Chairman Ron Paul penned the following piece regarding reports that Congress may attach legislation imposing new price controls on health care providers as part of the multi-trillion COVID-19 spending bill. The bill is currently being negotiated and first votes on it could be as early as tomorrow, so please call your U.S. Representative and Senators at 202-224-3121 and tell them to oppose any spending bill that imposes price controls on physicians! Here is Dr. Paul’s piece: Price Controls Have No Place in Health Care As Congress continues passing trillions of dollars in spending bills aimed at addressing COVID-19, they should avoid harming those on the front lines: health care providers. Health care providers are working hard, sometimes at personal risk, to treat those affected with the virus. Their job is made harder by the hysteria whipped up by politicians and the media. This makes people flock to emergency rooms and doctors’ offices. And, this comes on top of the challenge already facing the medical profession as a result of federal laws like ObamaCare, and rules limiting the number of hospital beds in certain areas. Incredibly, a bipartisan group of U.S. Representatives and Senators think the government is not putting enough burdens on health [...]

Governments love crises because when the people are fearful they are more willing to give up freedoms for promises that the government will take care of them. After 9/11, for example, Americans accepted the near-total destruction of their civil liberties in the PATRIOT Act’s hollow promises of security. It is ironic to see the same Democrats who tried to impeach President Trump last month for abuse of power demanding that the Administration grab more power and authority in the name of fighting a virus that thus far has killed less than 100 Americans. Declaring a pandemic emergency on Friday, President Trump now claims the power to quarantine individuals suspected of being infected by the virus and, as Politico writes, “stop and seize any plane, train or automobile to stymie the spread of contagious disease.” He can even call out the military to cordon off a US city or state. State and local authoritarians love panic as well. The mayor of Champaign, Illinois, signed an executive order declaring the power to ban the sale of guns and alcohol and cut off gas, water, or electricity to any citizen. The governor of Ohio just essentially closed his entire state. The chief fearmonger of the Trump Administration [...]

“. . . weak sauce diluted made impotent by A.G. Barr.” —Sen. Rand Paul My son, Senator Rand Paul, nailed it. He was describing the last-minute Deep State spying extension Attorney General William Barr and his statist pals in BOTH parties’ congressional leadership that was just unveiled. I told you the fight would turn WHITE HOT . . . and it just did! This SHAM FISA reform (H.R. 6172) keeps virtually all of the Deep State’s warrantless snooping powers running full blast -- powers they’ve PROVEN they’ll abuse! Nancy Pelosi is racing to RAM it through the House for a floor vote TODAY.  There may only be a few hours before the vote -- I need you to ACT FAST! Please call Congress IMMEDIATELY by dialing 202-224-3121. Make sure they hear LOUD and CLEAR that you oppose any scheme to reauthorize -- even for a second -- warrantless Deep State spying on you, me, or any law-abiding American. Nancy Pelosi and her Deep State pals in the Republican House leadership waited until the last possible minute to fast-track this scheme in hopes your congressmen wouldn’t read the bill before skipping town tomorrow. Sadly, many won’t. And unless they hear from you IMMEDIATELY, I’m worried they’ll rubber stamp this SHAM reform [...]

Last week, the Federal Reserve responded to Wall Street’s coronavirus panic with an “emergency” interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month. More rate cuts would drive interest rates to near, or even below, zero. Lowering interest rates punishes people for saving, thus encouraging consumers and businesses to spend every penny they make. This may give the economy a short-term boost. But, it inhibits long-term economic growth by depleting the savings necessary for investments in businesses and jobs. The result of this policy will be more pressure on the Fed to indefinitely maintain low interest rates and on the Congress and president to create another explosion of government “stimulus” spending. Boston Federal Reserve President Eric Rosengren has suggested that Congress allow the Federal Reserve to add assets of private companies to the Fed’s already large balance sheet. Allowing the central bank to buy assets of, and thus assume a partial ownership interest in, private companies would give the Federal Reserve even greater influence over the economy. It could also allow the Fed to advance a political agenda by, for example, favoring investment in “green energy” [...]

"I think it'd be a shame to let these authorities expire . . . We should extend these authorities." ~Sen. Lindsey Graham After more than a year of grandstanding about the Deep State’s spying abuses, Senator Graham just made it abundantly clear where he stands on domestic surveillance programs that target law-abiding Americans. This battle is about to go white hot. If history is any guide, they’ll wait to the last possible moment to RAM THROUGH extension or some SHAM REFORM of the so-called “USA Freedom Act” to keep the Deep State’s spying powers going as close to full blast as they can. But I’m counting on you to act right away. With the clock quickly ticking down on the March 15 deadline for renewal, inside sources are saying Senator Graham and a cabal of Deep State lackeys in the Washington, D.C. “Swamp” are about to launch their all-out assault. Sadly, Attorney General William Barr, in outright defiance of the president, is leading the effort to strong-arm senators and congressmen in voting for the Deep State’s domestic spying programs they’ve proven they’ll abuse. That’s why I need you to sign your emergency END DEEP STATE SURVEILLANCE petition right away. The truth is, Barr pioneered bulk data collection [...]

Earlier this week, Campaign for Liberty supporters sprung into action the moment we got wind of the plot to ram through renewal of the Deep State’s most abusive spying powers with emergency “must pass” coronavirus spending. Thanks to good folks like you, House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch McConnell (R-KY) clearly got the message Americans would not tolerate such a scheme. What’s more, President Trump signaled again last night he just may be on the same page with most Americans about reining in the Deep State’s domestic spying powers. In fact, my son Senator Rand Paul reported the President told top Republicans at a White House meeting last night he will oppose any renewal of the so-called “USA Freedom Act” (the crown jewel of Deep State spying), that fails to tackle domestic spying abuse. We’ll see how this plays out with Deep State apologists twisting his arm. But there’s no denying our pressure is making an impact.  And I’m more confident than ever this is a fight you and I can ultimately win. With expiration rapidly approaching on March 15, the battle could grow into an inferno at a moment’s notice over the coming days and Campaign for Liberty must be ready [...]

The 1978 Humphrey-Hawkins Act requires the Federal Reserve to “promote” stable prices and full employment. Of course, the Fed’s steady erosion of the dollar’s purchasing power has made prices anything but stable, while the boom-and-bust cycle created by the Fed ensures that periods of low unemployment will not last for long. Despite the difficulties the Fed faces fulfilling its “dual mandate,” Federal Reserve Chairman Jerome Powell recently announced a new Fed mandate: to protect the financial system from being destabilized by climate change. Powell appears to have bought into the propaganda that “the science is settled” regarding the existence, causes, and effects of climate change. But the statement “the science is settled” is itself unscientific. Science is rarely settled as today’s new discoveries disprove yesterday’s consensus. In the case of climate change, many scientists dispute the claim that absent massive expansion of government power a climate apocalypse will soon be at hand. So far, the Fed’s actions regarding climate change include holding a conference and Chairman Powell indicating the Fed is likely to join the Network for Greening the Financial System. This network is composed in part of central banks from around the world that are attempting to work together to assess the [...]

Kentucky Representative Thomas Massie and Kentucky Senator Rand Paul have reintroduced the PRIME Act (H.R. 2859/S. 1620). This legislation exempts slaughterhouses from federal inspections as long as the slaughterhouses are in compliance with state laws and only sell their products to consumers and businesses in their home state. The PRIME Act will benefit small businesses that find it difficult to comply with costly federal regulations. Consumers will also benefit from increased choice and lower prices. Campaign for Liberty members who support repealing federal regulations that raise the cost of our food should call their representatives and ask them to cosponsor H.R. 3187 and call their senators and ask them to cosponsor S. 2651. [...]