Open Letter to Congressman Eric Cantor – Eliminate the Fed

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Dear Representative Eric Cantor,

I'd like to thank you for the invitation you recently sent me for the upcoming job fair you will be hosting. It's good to see that instead of simply giving someone a job – you'd rather have them learn how to obtain one by themselves. However, since the invitation was sent out from your official email address on Capital Hill and is being held in a public school, I'm having a hard time believing that you are the person who will actually be providing the funding for this event. It will actually be the taxpayer who has the honor of funding it and you will just get the credit for doing something for Virginians in this economy. So, in reality, this is just another transfer of wealth program though it is done in a way that dupes most conservatives into supporting.

Also, I question which section of the Constitution authorizes congress to hold job fairs. It must be that special section that also allows for $700 billion bank bailouts and other "emergency" funding that you have supported in the past year. But who in Washington DC really looks to the Constitution these days anyway? There is that Ron Paul guy, but he's a little out there since he really does stick to the Constitution – even when it is a little "archaic," like expecting congress to declare war.

Now, if you really do want to "establish long-term solutions that will put Virginia businesses and Virginia workers back on the path to financial stability," like your invitation stated, I have the perfect solution for you. Not only will this truly help America's economy to become prosperous once again, it also is Constitutional and so you will not have to compromise, yet again, on your conservative values. Here's the answer: eliminate the Federal Reserve.

End the Fed Ron Paul Best Price: $1.12 Buy New $8.53 (as of 10:10 UTC - Details)

Now, I know you have already signed on as a co-sponsor to HR1207 and for this I truly am grateful. Maybe all my emails and phone calls to your office really do make a difference. I do wonder why a conservative such as yourself was one of the last Republicans to co-sponsor this bill but I am sure it is because you were too busy reading all the other bills which have come before Congress.

HR1207 is a great start because an audit of the Fed will expose Americans to the workings of the institution that plays such a key role in the government today. Also, having worked for financial intuitions for quite a while now, I know how intense the audits can be from the regulators. In a government of "We the People," it only makes sense that "we" finally audit the auditors. But, again HR1207 is only a start. When Fed officials audit financial institutions, they are not just reviewing the books for their own edification but actually do this in order to provide "recommendations" to these organizations. Similarly, when an audit of the Federal Reserve is done, a "recommendation" should also follow. That must be the reason why the Fed has hired lobbyists to stop this bill.

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The Fed cannot be tinkered with or fixed; complete elimination of a central bank is the only option that will truly put America's economy back on track. Notwithstanding the stated purpose of the Fed, the most intense economic fluctuations that America has ever suffered have come after it was created. If these severe depressions and recessions are not cause enough for its elimination, there is also the fact that since 1913 – the year the Fed was created – the dollar has been subjected to a 95.5% tax (a dollar today can only buy what $0.045 bought in 1913). Yes, 1913 was a long time ago but since 1973 the dollar has lost 80% of its value due to the inflation caused by the Federal Reserve. Since the board of the Federal Reserve is an unelected position, this truly is "taxation without representation." Even Ben Bernanke, the current Chairman of the Federal Reserve, has admitted that "inflation is a tax."

I am willing to concede that you may not understand how the Federal Reserve wreaks so much havoc on our economy and so I invite you to pre-order Ron Paul's forthcoming book, End the Fed. If you cannot wait two months to read this, I would also invite you to read Meltdown by Tom Woods as he does an excellent job explaining in simple terms how the Federal Reserve holds the most responsibility for this current economic crisis. Just a few months ago I read Whatever Happened to Penny Candy to my eight-year-old son and now even he can tell you the evils of a central bank, the cause of business cycles, and why prices continue to increase year after year. So, this is a concept that should be easily understood by everybody, including congressmen.

I urge you to use your WHIP status to make sure HR1207 makes it to the House floor for a vote as well as work with Ron Paul in his other efforts to eliminate the Fed.

In liberty, Jeremy Ashton

July 20, 2009