Ron Paul: “Audit the Fed-Then End It!,” Fed Audit Bill Debated

June 12, 2009

(ChattahBox)—Congressman Ron Paul’s increasing push for a bill to audit the Federal Reserve has picked up sufficient support to leave committee and be debated by the full House of Representatives.

Bill H.R. 1207 entitled, the Federal Reserve Transparency Act, seeks to audit the Board of Governors of the Federal Reserve System and the federal reserve banks, followed by a detailed report to Congress.

After receiving a majority co-sponsorship of 222 members, including a few democrats, the so called Fed audit bill will be debated over the next several months.

Rep. Paul not only seeks greater transparency, but also believes the Federal Reserve should be abolished, claiming monetary policy shouldn’t be in the hands of political appointees.

In a recent editorial entitled, “Audit the Fed, Then End It!” Paul argues that politics colors national monetary decisions.

“They have been given the power to create money, by the trillions, and to give it to their friends, under any terms they wish, with little or no meaningful oversight or accountability,” said Paul in his editorial.

Paul’s bill would make an audit of federal reserve banks mandatory, regardless of whether the agency consents in writing, as the law currently reads.

Rep. Paul touts his audit bill on his “Texas Straight Talk” section of his official website.

Source


Comments

5 Responses to “Ron Paul: “Audit the Fed-Then End It!,” Fed Audit Bill Debated”

  1. Mark on June 12th, 2009 3:09 pm

    They will run and hide in the caves of the mountains and pray for the rocks to fall down on them rather than be confronted with the many frauds they have committed against their own people.

  2. steve cochran on June 12th, 2009 5:24 pm

    “a majority co-sponsorship of 222 members, including two democrats,”

    I forget the exact number, but there are not 220 Republicans in the House and about 1/3 of HR1207’s cosponsors are progressive Democrats.

  3. Paul P. on June 12th, 2009 5:39 pm

    I just created a map of the cosponsors for HR1207! it can be seen at libertybrewcity.blogspot.com or if anyone would be interested in a 50 by 30 inch map, email me at libertybrewcity@gmail.com and I can send it asap.

  4. Idaho on June 13th, 2009 3:09 am

    This may get ugly with the dirty power the FED holds.
    Let it get ugly.

  5. Jeffrey Clark on June 14th, 2009 2:57 pm

    The success of this bill will be determined by the support of American people. Should this bill succeed, it will have far reaching ramifications throughout the world. In an age where even the information being delivered to most people of the modern world (TV and most print) is filtered by groups with special interests, personally I have a hard time believing the general public will ever understand the truth. Even when presented with the facts, people a comfortable lie is easier to live with than knowning you must be willing to sacrifice everything for truth.

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