Dear Friend of Liberty,

This week, the Federal Reserve released some of the details on its emergency lending programs.

Instead of full disclosure, however, we have just received another reminder of why we must keep fighting to thoroughly audit the Fed.

According to the Fed’s documents, in addition to trillions of dollars loaned to Wall Street firms, it also made trillions in loans to foreign central banks and even billions to companies including Harley-Davidson.

This release is just a small glimpse into what the Fed does everyday – devalue our money, create moral hazard, and put taxpayers on the hook.  And we can only speculate on how much the Fed isn’t telling us, including information on individual securities that were pledged as collateral for over $800 billion in loans.

Let’s be clear – even this little insight would never have been possible without C4L members taking action.

So just imagine what we can do if we turn up the pressure!

Congressman Paul will reintroduce his Audit the Fed bill in the 112th Congress, and C4L is ready to fight to ensure its passage.

It’s time to permanently end the Fed’s shroud of secrecy.  The American people should not have to wait years to find out what deals they’re being committed to – if they ever find out at all.

Unlike Washington’s most secretive institution, however, C4L can’t simply print money to finance its operations.  We can only take as much action as your support allows.

If you are able, please chip in $10 today to help us thoroughly Audit – and ultimately End – the Federal Reserve.

We’ve come so far in the battle for transparency, but there is still a long way to go.

Together, let’s finish this fight.

In Liberty,

John Tate

President

P.S.  We’ve got the Fed on the run, and we can’t afford to back down now.  Please chip in $10 today so C4L can continue our push to completely Audit the Fed and restore sound money.

A federal appeals court on Monday appeared skeptical of U.S. Federal Reserve efforts to prevent the press and the public from learning the names of participants in emergency lending programs designed to support and bail out the financial system.

Read the rest here.

The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot.

The Fed’s board of governors asked Manhattan Chief U.S. District Judge Loretta Preska to delay enforcement of her Aug. 24 decision that the identities of borrowers in 11 lending programs must be made public by Aug. 31. The central bank wants Preska to stay her order until the U.S. Court of Appeals in New York can hear the case.

Read the rest here.

A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.

Read the rest here.

So much for the ongoing secrecy of the nation’s independent central banking system. A new Rasmussen Reports national telephone survey finds that 75% of Americans favor auditing the Federal Reserve and making the results available to the public.

Rasmussen goes on to quote Bernanke’s tired line of the threat to Fed independence and Congress running monetary policy, but the article concludes this his ridiculous PR campaign is not working.

The new survey finds that an overwhelming majority of Americans in every demographic category – including age, gender, political affiliation, race and income – disagree with Bernanke and favor auditing the Fed to make its secretive deliberations public.

Read the rest here.

Keep up the pressure on your Representative here.