Last week I was very pleased that hearings were held on the independence of the Federal Reserve system.  My bill HR 1207, known as the Federal Reserve Transparency Act, was discussed at length, as well as the general question of whether or not the Federal Reserve should continue to operate independently.

The public is demanding transparency in government like never before.  A majority of the House has cosponsored HR 1207.  Yet, Senator Jim DeMint’s heroic efforts to attach it to another piece of legislation elicited intense opposition by the Senate leadership. 

The hearings on Capitol Hill provided us with a great deal of information about the types of arguments that will be levied against meaningful transparency and how the secretive central bankers will defend the status quo that is so beneficial to them.

Claims are made that auditing the Fed would compromise its independence.  However, by independence, they really mean secrecy.  The Fed clearly cherishes its vast power to create and spend trillions of dollars, diluting the value of every other dollar in circulation, making deals with other central banks, and bailing out cronies, all to the detriment of the taxpayer, and to the enrichment of themselves.  I am happy to challenge this type of “independence”.

They claim the Fed is endowed with special intellectual abilities with which to control the market and that central bankers magically know what the market needs.  We should just trust them.  This is patently ridiculous.  The market is a complex and intricate thing.  No one knows what the market needs other than the market itself.  It sends signals, such as prices, that should be reacted to and respected, not thwarted and controlled.  Bankers are not all-knowing and cannot ignore the rules of supply and demand.  They might act as if they are, but their manipulation of the market just ends up throwing it wildly off balance, which gives us the boom and bust cycles.

They claim the Fed must remain apolitical.  No organization is apolitical that relies on the President to appoint the Chairman.  In fact, it is subject to the worst sort of politics – power to create trillions of dollars and affect the value of every dollar in the country without the accountability of direct elections or meaningful oversight!  The Fed typically enacts monetary policy that is favorable to particular administrations close to elections, to the detriment of long term considerations.  They do this partly because of the political appointee process for the Chairmanship.

The only accountability the Federal Reserve has is ultimately to Congress, which granted its charter and can revoke it at any time.  It is Congress’s constitutional duty to protect the value of the money, and they have abdicated this responsibility for far too long.  This was the issue that got me involved in politics 35 years ago.  It is very encouraging to finally see the issue getting some needed exposure and traction.  It is regrettable that it took a crisis of this magnitude to get a serious debate on this issue.

Brought to you by Alan’s Money Blog:
http://alansmoneyblog.com

Every year on the Fourth of July we remember our founding fathers and the precious inheritance of freedom that they secured for us.  Every year it seems we get further and further away from that birthright, but we still have much to celebrate.

This country was founded on principles of freedom from overbearing rulers, onerous taxation, and the right to live our lives as we see fit.  Our independence was won after decades, and even centuries of abuses that unscrupulous, corrupted leaders and big governments visited upon their subjects.  The Founders knew there was a better way, and they forged it here on this soil.

In the new United States of America, the rights of the individual were enshrined in the Bill of Rights.  Today, government encroaches on those rights through countless provisions in numerous laws.  However, how much worse off might we be had the Founders not enumerated these rights in the highest law of the land?  While it is true that many aspects of those rights have been redefined and watered down, and will likely continue to be eroded, we can celebrate the wisdom of the Founders and that at our very core we, as Americans, still hold these rights dear.

The American tradition of individual liberty and self-reliance still runs deep, in spite of the increasing nanny state tendencies that government has been gradually shoving down our throats.  It is sad to see government seeking to completely replace the voluntary protections through families and charities that we have relied on throughout our history.  Especially disturbing is the rhetoric of community and interdependence being employed by the administration to institute government as the great middle man for all healthcare and charity for which all citizens must dutifully sacrifice.  This trend is not improving quality of life for Americans, but instead is greatly enriching the government bureaucracies that take a generous cut of all transactions in the welfare state.  There still remains much resistance to cradle to grave government dependence and control.  This spirit of fierce independence is a tribute to our founders and is cause to celebrate. 

The majority of our Founders believed in sound money, in part because they knew it kept government in check.  Governments that are unable to expand the money supply and manipulate credit at will are unable to fund frivolous wars of conquest.  Instead of adventurism abroad, seeking monsters to destroy, governments restrained by sound money are restricted to truly defensive wars that the people are willing to fight and to fund.  Today, in spite of all the economic turmoil that fiat currency and military interventionism has caused, there is cause to celebrate.  The demand to audit the Federal Reserve is quite encouraging.  The truth about the fed will put us one step closer to sound money, and peace.

Public outcry against the bank bailouts and the government power grab known as cap-and-trade proves that the spirit of liberty still lives.  Part of our celebration of Independence Day should include a renewed determination to keep fighting the good fight for freedom.  As long as government continually seeks to take liberties away, patriots need to keep fighting this ongoing war for sustained independence

Brought to you by Alan’s Money Blog:
http://alansmoneyblog.com

In my last column, I joked that with public spending out of control and the piling on of the international bailout bill, economic collapse seems to be the goal of Congress.  It is getting harder to joke about such a thing however, as the non-partisan General Accounting Office (GAO) has estimated that the administration’s health care plan would actually cost over a trillion dollars.  This reality check may have given us a temporary reprieve on this particular disastrous policy, however an equally disastrous energy policy reared its ugly head on Capitol Hill last week.

The Cap and Trade Bill HR 2454 was voted on last Friday.  Proponents claim this bill will help the environment, but what it really does is put another nail in the economy’s coffin.  The idea is to establish a national level of carbon dioxide emissions, and sell pollution permits to industry.  HR 2454 also gives federal bureaucrats new power to regulate a wide variety of household appliances, such as light bulbs and refrigerators, and further distorts the market by providing more of your tax money to auto companies.

The administration has pointed to Spain as a shining example of this type of progressive energy policy.  Spain has been massively diverting capital from the private sector into politically favored environmental projects for the better part of a decade, and many in Washington apparently like what they see.  However, under no circumstances should anyone serious about economic recovery emulate an economy that is now approaching 20 percent unemployment, where every green job created, eliminated 2.2 real jobs and cost around $800,000 each!

The real inconvenient truth is that the cost of government regulations, taxes, fees, red tape and bureaucracy is a considerable expense that has to be considered when companies decide where to do business and how many people they can afford to hire.  Increasing governmental burden directly causes capital flight and job losses, as Spain has learned.  In this global economy its easy enough for businesses to relocate to countries that are more politically friendly to economic growth.  If our government continues to kick the economy while its down, it will be a long time before it gets back up.  In fact, jobs are much more likely to go overseas, compounding our problems.

And for what?  Contrary to claims repeated over and over, there is no consensus in the scientific community that global warming is getting worse or that it is manmade.  In fact over 30,000 scientists signed a petition recently directly disputing the claims on which this policy is based.  Legitimate environmental claims should instead be directed towards the public sector.  The government, especially the military, is the most serious polluter in the country, and is exempt from most EPA regulations.  Meanwhile Washington bureaucrats have classified the very air we exhale as a pollutant and have gone unchallenged in this incredible assertion.  The logical consequence is that there will come a time when we will have to buy a government permit just to emit carbon dioxide into the atmosphere from our own lungs!

The events on Capitol Hill last week just demonstrate Washington’s audacity in manufacturing problems just so they can expand government power to solve them

Brought to you by Alan’s Money Blog:
http://alansmoneyblog.com

It looks like the Fapturbo guys weren’t lying when they said only 2000 copies would be made available. I visited their Fapturbo Evolution homepage two minutes ago and noticed that big image you see above. The official explanation is this:

“Sorry guys, we have sold almost all 2000 licenses and the doors are now closed because we need to see how the brokerage can deal with the signups and the workload to get each and every user setup.”

They’ve setup a “waiting list” for people who are “still interested in one of the few remaining copies that we will put for sale eventually later” Are they trying to be clever? Who knows, but anyways, you can join their “waiting list” here:

http://www.fapturboevolutionedition.com

Those of you who’ve got a copy already, if you feel like sharing your trading performance with the world you may do so at the Forex Autopilot forum here: http://www.forexautopilotforum.com

Thanks!

Happy trading everyone.
Alan

I feel I owe you guys an apology. I completely missed a VERY important detail about the Fapturbo Evolution/Dukascopy brokerage setup. Thankfully a member of the Forex Autopilot Forum clued me in on this one and I owe him a big thanks (lookup the username “Limitup” on Forex Nirvana or Forex Autopilot Forum). Now here comes the kick in the gut. With Dukascopy “you have to prove that you have 100K net worth per year. If you can’t prove that then you can’t trade Evolution”

Yeah it’s true. Dukascopy is not a bucketshop that will take just anyone. Now notice that it says “net worth” and not net income which is a different concept. So my guess is that your house and other such assets will count toward your total net worth per year - and probably the majority of you own houses that easily push beyond $100K, so you just may qualify. But I’m not 100% sure about this so it would be best to get in touch with a Dukascopy representative. I’m gonna do the same and once I find out I will try to let you guys know.

Anyways, let me say once again that I’m sorry. Good luck to those of you who’ve bought this product, and to all those who didn’t.

Cheers,

Alan

Just a quick news update post to let you know that the Fapturbo Evolution Edition sales page is now open for business. Everyone who is quick to act can now buy their own copy.

Once again if the server is slow and you can’t click the buy button, refresh the page until you can. I wish the Fapturbo crew placed a counter letting us know how many copies are left, but as it stands I have no clue as to how many out of the total 2000 copies are still available.

You can grab a Fapturbo Evolution copy over here:

http://www.fapturboevolutionedition.com

Once again good luck with it.

Alan.

Hello everyone. I’ve got some good news for those of you who’ve been waiting to get their hands on the new Fapturbo Evolution forex robot. It’s now officially out and ready to be bought. If you visit the Fapturbo Evolution Edition homepage it may look like you can’t buy it just yet, but not to worry as the sales page will go live at 9:00AM EST, so you have some time to prepare and get in “early” sort of speak.

I heard that before the launch they had over 150,000 visitors checking out the webinar and performance proof proof materials. Once the sales page goes live their services may not be able to cope with the load of so many people trying to buy Fapturbo Evolution at once. Should the servers crash make sure to reload the site a couple of times…eventually you should be able to fully see the sales page.

Without further ado, here is the Fapturbo Evolution Edition website link:

http://www.fapturboevolutionedition.com

Go there and patiently await 9:00am EST and snap up a copy before someone beats you to it. I suggest showing up to the website 10 minutes before it goes live - even 30 minutes to be on the safe side.

Good luck, hope you manage to get a copy!

Happy trading,
Alan

I just finished attending the Fapturbo Evolution Edition webinar.
I got in on the 4PM one and there were TONS of people there.
There were over 3000 people!

Sadly though I did not win a free copy of Fapturbo Evolution :( so
it looks like I’ll have to fork over some cash when it gets released.

I’m pretty sure I’ve mentioned this in my previous blog posting or
mailing list blasts, but just to refresh your memory here are some
important details that were asked for during the webinar.

- Fapturbo Evolution will cost $599
- Due to a hush agreement between Fapturbo developers and Dukascopy
you will be able to an account with a minimum of $10,000 USD. The
normal minimum account is $50,000 so you’re getting a great offer
just from Dukascopy. Heck what you can do is buy Fapturbo Evolution
just to get this special Dukascopy offer.
- The Fapturbo Converter software that allows you to run any MT4
expert advisor on the Dukascopy platform will COST MONEY
unfortunately. I was hoping it was a free item to those who purchase
Fapturbo Evolution, but I guess it was not to be.
- Only 2000 copies of Fapturbo Evolution will be released. The
webinar moderators were very adamant about this.
- Fapturbo Evolution is offered through ClickBank which means you’ve
got the benefit of their 60 day money-back guarantee!

Essentially with ClickBank you have nothing to lose, if you don’t
like this product just return it and go on about your business.

Don’t forget there is another webinar being held at 7 PM - in just
an HOUR OR TWO! Make sure you attend if you want your chance at
getting a free copy of Fapturbo Evolution.

Go to this page and scroll all the way to the bottom:

http://www.fapturboevolutionedition.com

Good luck and I wish you all the best

Alan

I hope you’ve had a great weekend. Here in my neck of the woods the weather was fine, so I was out on the beach getting some sun. But enough about me, this post is going to be kept really short. Basically I wanted to remind all you forex robot traders out there that the FapTurbo Evolution webinar is going to be held tomorrow. As I said in my previous post, if you attend you may win a free copy of Fapturbo Evolution Edition.

Once again the webinar times are:

First webinar will be held at 4PM EST 20 GMT
Second webinar will be held at 7PM EST 23 GMT

Go to this page below and register for it:

http://www.fapturboevolutionedition.com

Cheers,
Alan

If you saw the Fapturbo Evolution performance proof page yesterday at:

http://www.fapturboevolutionedition.com

I am sure a ton of questions kept running trough your mind.

How can a forex robot robot offer such extreme performance? What are the differences between all the metatrader 4 robots and this new java based platform one? Why are spreads so much better here?

Or more importantly:

How the hell does this robot manage to pull in USD 8,400 REAL CASH in a SINGLE DAY of autotrading???

Well the good news is that the creators of Fapturbo Evolution promised to answer all of those questions plus…wait for it….wait…give out a FREE copy of their forex robot to a lucky winner!

How?

Simple. Just attend one of the two free webinars that are being held tomorrow! 1 winner per webinar will be chosen randomly among the participants, so make sure to be there early before the rooms are full!

Both webinars will be held Monday July 13′th

First webinar will be held at 4PM EST 20 GMT
Second webinar will be held at 7PM EST 23 GMT

Visit the Fapturbo Evolution homepage (see below) and choose the webinar time that is most convenient for you, but make sure you show up to either one:

http://www.fapturboevolutionedition.com

See you tomorrow in the webinar!

Good luck!

Alan