54 responses to “Ron Paul’s Bill To Audit The Federal Reserve Now Has 33 Co-Sponsors!”

  1. SSK Sorgulama

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  2. Ron Paul’s Bill To Audit The Federal Reserve Now Has 282 Co-Sponsors in the House, and 20 Co-Sponsors in the Senate! | Austrian Economics Blog

    [...] Ron Paul’s Bill To Audit The Federal Reserve Now Has 33 Co-Sponsors! Ron Paul’s bill to audit the Federal Reserve (HR… [...]

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  3. Ron Paul’s Bill To Audit The Federal Reserve Now Has 281 Co-Sponsors in the House, and 20 Co-Sponsors in the Senate! | Austrian Economics Blog

    [...] Ron Paul’s Bill To Audit The Federal Reserve Now Has 33 Co-Sponsors! Ron Paul’s bill to audit the Federal Reserve (HR… [...]

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  4. Ross

    Sean is the agent of double speak.Remember George Orwell's 1984.We should not silence him since that would put us into the realm of the facists Feds.
    Sean's traitorist's tongue will betray him.So don't get angry.Let Sean reveal to the honest hard working public his digusting agenda of wanting a free ride at the expense of those who keep him.

    I can tolerate ungreatful self indulgent children to a point.Many of us are tolerating excesses from or own Govt that we would not accept from our own children.

    We don't need a war to instigate change,just education and awareness.

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  5. hirize

    daniel...To my knowledge, beyond Dr. Paul sponsoring the bill no specific number of co-sponsors are required but the more the bill has the more likely it is to come to a vote and pass.

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  6. daniel

    how many sponsors does it take to pass this dam bill

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  7. hirize

    I want everyone to know that Comrade George Kennedy Butterfield, of the 1st District of North Carolina is a traitor. He was emailed and asked to co-sponsor Dr. Paul's bill but it seems the communist agrees with G.I.V.E.(ing) his constituents forced fascist indoctrination and slavery but does not agree with auditing the "evil from hell" cartel of international thieves that are stealing our money and our country. It's slime like this that got us in this mess and it's slime like this that has to be targeted and removed from office next election. I just wanted to post this information in case someone from North Carolina happens by...it's always good to know who your REAL enemies are!

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  8. Brian from Socialist NJ

    Go Ron Paul go! Audit the Federal Reserve. Or better yet, Abolish the Federal Reserve and return to a Gold Standard!

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    1. Ryan

      I love Ron Paul, but I have read there is not enough Gold in the world to make it the standard.

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      1. Nate Y

        Remember, when people say "return to the gold standard" they usually mean something more like "return to commodity/commodity based money" or "eliminate fiat money" or "allow private currencies to compete with government issued currency". What would those private currencies be? Gold? Silver? Some combo of commodities? Who knows? What's important is people are supplied with an honest medium of exchange. That is, one that is not eroded (in terms of purchasing power) through inflation. Best way to figure out what currency would be best is through the free market.

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        1. Ryan

          So if the Fed was gone tomorrow, how would we implement the new system? How would the exchange happen for our current paper money? Would someone actually give us "anything" for our worthless bills at that point? Or would the bills still have value initially?

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          1. Nate Y

            If the Fed was gone tomorrow it would likely be total chaos. Luckily, the Fed being gone in a day is an impossibility so we don't even need to consider it.

            Now, if the government were to repeal legal tender laws, allow for competing currencies, and end the Fed's dollar monopoly, dollars would still retain much of their purchasing power for a while because people would still accept them as payment. However, over time private currencies would be issued and would compete with dollars on the open market. What would be the result? What currency would win? Who knows? Actually it is impossible to know because the other currencies do not yet exist. However, the currency which wins would be the currency that best serves the needs of the people. That is, it would be a currency that actually retains it's purchasing power and is not destroyed through inflation. The most honest currency would win.

            Read this if you like...

            http://mises.org/books/monetarysystem.pdf

            http://mises.org/resources/3983

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          2. sean

            wow... legal tender laws do not outlaw competing currencies. In AMERICA, ANY MEANS OF TRADE IS DETERMINED BY AN AGREEMENT BETWEEN PARTIES. Do you think Visa or Mastercard are reserve notes?? No.. Legal tender laws means that you have to accept reserve notes for transactions ONLY if they are given to you. It does not mean that reserve notes are the only form of transaction available.

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          3. Sean

            That wasn't right for the feds, but legal tender laws are legal tender laws, which don't outlaw curriencies. The feds raided because there were problems with people mistaking the liberty dollar for real reserve notes and couldn't do shit with them. dumbass

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          4. Sean

            it up to the jurisdiction... what if i just handed out monopoly money and told people that they could redeem it for silver? do you think that people will accept my monopoly money?.. i'm going to walk up to 7-11 and try to buy something with some monopoly money that has "redeemable for silver on it" written on it.

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          5. Sean

            Do you really know how money works?? Businesses borrow legal tender from banks so can they purchase goods and sell them. If consumers use any different type of currency other than legal tender, than it cannot be used to pay off that debt..

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          6. Nate Y

            I was going to write a lengthy reply. But your posts are so muddled, contradictory, and nonsensical that it often proves too difficult. This is one of those times.

            So I'll keep it short...

            The point is not that legal tender laws outlaw all other currencies. Rather, the point is legal tender laws grant special privledges to currencies. Privledges that would otherwise not exist in the free market. As a result, the currency is overvalued relative to what it would be valued on the free market. Indeed, fiat currency (since it has no intrinsic value) cannot even function as a medium of exchange unless it is supported by legal tender laws. What happens as a result? The overvalued money (because of legal tender laws) drives out other monies. This is often referred to as "bad money driving out good money".

            You say "In AMERICA, ANY MEANS OF TRADE IS DETERMINED BY AN AGREEMENT BETWEEN PARTIES." This is yet another one of your half truths and it illustrates your blindness. Yes, there are contracts in America. However, you don't see how legal tender laws corrupt these contracts/agreements.

            here's some more "Austrian" knowledge for you...

            mises.org/journals/jls/18_3/18_3_3.pdf

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          7. sean

            i've read plenty of austrian economics.. I understand that legal tender laws are not fair to competing currencies.. You don't understand why we changed to fiat, and why we must have fiat currency, so it is pointless to go in circles about something you dont understand, when i spend time studying both sides. i can argue all day why we should have sound money, but i can also argue all day why we got rid of sound money and why it could not last.. my posts aren't muddled and contradictory. You just agreed what i had to say about how currencies cannot withstand to compete. Now i will agree with you that it's not fair.

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          8. Ryan

            Sean,

            Educate me on why sound money would not last. Point me to some online resources if you could. Thanks.

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          9. sean

            Well we started a free-trade system and got rid of the gold standard after oil production started running out and our trade deficit started increasing. This happened because we started importing oil instead of exporting. Sound money limits the supply of money, so you can't have sound money when you run up trade deficits or our supply of money would shrink day in day out. Not only that, but our national deficit balances out out the trade deficit. We export securities to make up for importing goods. This is why the government throws so much money at us, because there is not enough M1 circulating the United States. We then have to create central bank money thru national debt, which is given to the treasury to be handed out so the money will reach the economy and consumers hands. Oil depletes our money supply and must be replaced.. There are plenty of websites supporting this. Here is a short video that explains trade deficits.

            http://www.youtube.com/watch?v=M-vMxKvYfVs

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          10. sean

            as you can see in this chart. The supply of money circulating our economy increases, but the supply of money circulating our economy compared to money created is declining(bc we spend it overseas).. Its important to notice that m1 is the money circulating the economy. Thats the white space in the chart...
            http://en.wikipedia.org/wiki/File:Components_of_the_United_States_money_supply2.svg

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          11. Nate Y

            "my posts aren’t muddled and contradictory. You just agreed what i had to say about how currencies cannot withstand to compete."

            See this is what I'm talking about. I can't understand what your trying to say because of your writing style.

            Anyway, yes, we both know the reasons why the US (and all governments) switch to fiat. But for some reason, you seem to think it a good thing we switched to fiat. On the contrary, the switch was a very bad thing. It is one of the main reasons this current crisis built up and is now with us.

            Ryan,

            Careful now. He could say something like "sound money didn't last. It's obvious it can't work. Just look at history! Why do you think we have fiat money? It's because we needed it to pay for oil. Without fiat money we wouldn't be able to run these enormous trade deficits." As if sound money (that is, an honest medium of exchange) doesn't facilitate trade and good relations and trade deficits are a good thing.

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          12. sean

            What? i never said that it was a good thing! i said it was the only way. Your just making up bullshit to make yourself sound pretty.. I bet ryan understands everything i said, so does everyone i have this discussion with besides you.. YOu say that you understand why we switched to fiat, but you don't understand why it was important that we switched to fiat.. Sound money would increase the value of the dollar which would would seem to lower the trade deficit, but at the same time it would make exports more expensive to compete in a global economy, which would in return lower exports and increase the trade deficit. Its a vicious circle your small brain just doesn't understand.

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          13. Nate Y

            I haven't seen a single person congratulate you on your economic/monetary posts. Why don't they agree with what you say? Because most everyone here can see right through your nonsense.

            Numerous people have called for you to be banned. I haven't but I still do wonder why you post on this forum. Why not post on a forum supporting the current administration? It's obvious you favor the ideas of those "top economic advisors".

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      2. sean

        Here is another great chart to examine.. You can see why we got rid of the gold standard in the early seventies because of the loss of money when we ran out of oil. You can see where the national deficit increased with m2 alongside with m1 which caused inflation in the seventies.. You can see stagflation in the eighties where the money supply did not change. You can see where the increased supply of money in the late eighties pulled them out of the recession. You can see the bubble that was created in the late nineties and earlier on this decade.

        http://en.wikipedia.org/wiki/File:Changes_in_US_money_supply_1960-2007.gif

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        1. sean

          nate thinks that he knows more about money than the top economists in our country. Did you know that obama's economic advisor is the president of harvard.. Do you really think your smarter than the president of harvard. Please, your a joke.

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          1. Nate Y

            What are you 10 years old?

            Considering "the top economists in our country" were completely blindsided by the current crisis and the Austrians were calling it for years/decades as an eventual consequence of the system/policies we have in place, I'll be siding with the Austrian school of thought. Also, you think anyone here is gonna be swayed by the argument from authority? It doesn't matter who spouts the nonsense. If you, Geithner, Bernanke, the President of Harvard, or whoever spouts nonsense no one should feel reluctant to challenge those ideas.

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        2. Ryan

          "Sound money would increase the value of the dollar which would would seem to lower the trade deficit, but at the same time it would make exports more expensive to compete in a global economy, which would in return lower exports and increase the trade deficit."

          Sean, this actually does make sense to me. So what is the answer to this "vicious circle"? To me, sound money sounds like more of a long term solution as oppose to inflating the dollar. Do we need to re-evaluate "how" we trade?

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          1. Nate Y

            Did you get a chance to read the books/articles? What we're looking for here is a more efficient economy not subject to such violent booms and busts. Sound money is a key aspect of this which you already recognize when you say "sound money sounds like more of a long term solution" Well, yeah, that's because it is!

            But whatever, just let private currencies compete with each other and government issued dollars. No special advantages. And let's see what people select as their preferred money.

            http://www.mises.org/story/1914

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      3. prsmith

        > I love Ron Paul, but I have read there is not enough Gold
        > in the world to make it the standard.

        That’s hogwash. If bread was a dime and a Ford was $500, we wouldn’t have a problem with insufficient gold. Government took us off the gold standard to give them the ability to print money - ergo inflation, $30,000 automobiles and the destruction of the dollar!

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        1. Ryan

          I was referring to our current situation. Gold couldn't be the only standard of today because there isn't enough of it.

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          1. prsmith

            Good point, Ryan. OTOH, once AKA-O finishes destroying the dollar, that shouldn't be an issue :-(

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          2. Nate Y

            Remember though, the argument isn't for an exclusive gold standard implemented by government. The argument is for commodity or commodity backed money and "choice in currency". Check out Hayek's short book entitled "choice in currency" for a basic intro.

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    2. Ryan

      Sean,

      If sound money can't work on it's own, what do you think is the solution? How would this vicious circle end?

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      1. sean

        THe solution is what obama is trying to do, make us energy independent. We spend 500 billion dollars a year overseas on oil, so we are setting up a cap and trade system that will prop up renewable energy. The idea is to have solar panals on every home and battery operated cars so we wont have to pay for oil or coal anymore. After that, we can reduce our deficit spending by half.. We still wont be able to go back to sound money because we are still going to spend so much money on other goods, but we will be less acceptable to business cycles..

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  9. Mary

    I have written mine, from Ky, but no support.

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  10. David G. Fanelli

    Dear Dr. Paul;
    I was a district leader in NC over a year ago when we were trying to secure your nomination as the Republican candidate for president. ( Thanks mass media. Oh to have a free press in America once again.) I have been retired now for over a year now, and I have devoted my time to research, and although I admire every word you have said, I have come to the unalterable conclusion that the only way, we as a species, can survive is to be totally free of a global, interest bearing, debt based, monetary system. We must evolve of perish. We must change our mind set and realize that what we contribute to society as energy is the only thing of value. We must stop thinking of paper dollars as something of value. Money's(or whatever medium we chose to represent value) only function is to faciliate trade. I agree with Obama we need change, but we need radical change. The Money Masters have enslaved us long enough, and now they seek to enslave our children and our children's, children, with debt, which need not be produced at all. I know it's not easy to disturb the states quo, nor to think outside the box, but we must if we are going to keep our children from a life of prepetual slavery. There are other preposed Value based monetary systems we need to look at, modify, adjust, and impliment if we are to survive, forget being free, we need to do this, just to survive. There will be many things to work out, but please try to imigane a world with no debt, no debt, and this change must be world wide, for the good of all mankind. Abolish the Fed, yes. Abolish an intrest bearing monetary system, yes. But substitute it with a Value based monetary system. The rest of the world is looking to us, to America, as the last bastion of freedom, to lead the way. We are the only country, with the freedom to impliment such a change. Wouldn't it be great, to once again, be thought of around the world, as the country which led all other countries to freedom. Please we must think outside the box. Evolve or perish!
    Love & Peace
    David

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  11. David G. Fanelli

    Dear Dr. Paul;

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  12. terry odom

    Our representative Mr. Cliff Stearns (R-FL) is a man of honor and true to his word in Florida. He and some of our other great leaders in our U.S. congress (Ron Paul included) understand the importance of being principled when you are holding an important "elected" position in this country's governing body. I am glad to see that some more congressmen and women are deciding to join ranks. History will show that we were better off for the likes of these law makers and defenders of the U.S. Constitution.
    Thank God we have some politicians with some good sense.

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  13. hirize

    This bill will sort out who the traitors in congress REALLY are. All of the Representatives in congress are aware of the out of control, unaudited, unconstitutional and illegal status of the Federal Reserve and that they are conspiring to wreck our economy to force an international banking system, or to put it a different way, a global enslavement system. Therefore by every single representatives support or lack of support for HR1207, they show the entire world whether they are a traitor or a patriot. The only thing left to ponder is whether they are bought off, being blackmailed, etc. but then again, who really cares. A traitor is a traitor by any other name!

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  14. Kurt Tagtmeyer

    I still don't see anyone from Massachusetts on that list either. Additionally I have not heard a reply from congressman William Delahunt who I asked to co-sponser HR 1207. He's spending all his time gloating about what the American Recovery and Reinvestment Act will be doing for Massachusetts (and ignoring the real harm this Act creates). I think he's been paid for too!

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  15. Aragon

    What does it mean to co-sponsor a bill? Does the bill pass into law when it has a certain number of co-sponsors?

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    1. bruce ketchum

      It is like a public enforcement and putting your weight behind it. Normally these guys don't like to weigh in on anything before the vote so they can vote the path of least resistance or do like Obama and vote Present if there was any potential problems in the future.

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  16. bruce ketchum

    I keep calling my congressman (Bob Goodlatte Virginia 6th) with no response...I just called to get meeting with him in DC or here back home. Never a reasonable response when I call so I am not sure what to do other than talk with him...

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  17. Tomas

    Let's put all those bastards on the grill. Fed Reserve, Congress and Senate!

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    1. bruce ketchum

      Let's start on one thing at a time...Let's take out the Federal Reserve. Cut the governments ability to finance its self (with monopoly money it makes for its self) and you will automatically cut through a whole lot of stuff...like illegal wars!!!

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  18. Al Cashion

    Mark (see above comments) is completely right. The Federal Reserve is in a perfect position to wield invisible power. That "Power corrupts and absolute power corrupts absolutely" and unchecked power must surely corrupt makes the Fed a very frightening entity.
    I believe Mark to be absolutely correct that non-support of HR 1207 by any representative leaves them suspect.
    The simplest logic lends ultimate viability to this bill. Why...... why on earth would anyone think that one of the most powerful institutions in the world, that dictates monetary policy to the United States and beyond should be left alone, with the belief that it's leadership is immune to the human sins of greed and power lust.

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  19. Mike Sawaia

    Great idea. A little of their own medicine. Let's see how many on the hill have the nerve to get this done. Can't wait to see what happens.

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  20. Bill

    I wrote to my Congressman (Joe Wilson of South Carolina's 2nd District, a Republican), and he wrote back with a very non-committal response. He acknowledged that Dr. Paul's bill was sent to committee and assured me that he will keep my feelings in mind. Seemed like a form response to me.

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  21. Mark Antonowsky

    Can't believe our good for nothing Arizona representatives haven't signed on for this important bill!

    When money can be created out of thin air, with no accountability and/or transparency, then lots of political clout can be purchased..... In my opinion that's the message any legislator is relaying if they don't support this bill! I've been paid for.

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    1. bruce ketchum

      None from Virginia as well!!! I have called but I guess it is just too risky to put your name on this.

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      1. Brian

        Same thing with NH and VT. I wrote both. VT didn't even write back.

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  22. Terry

    Check this out and go vote for Ron.

    Time Magazine: Ron was right on gold

    Posted by Anthony Gregory on 03/19/09

    Ron Paul is a finalist for the Time 100: "With his antiwar, antitax platform, the Texan became an unexpected Internet phenom, using the Web to raise as much as $6 million a day. And now that we think about it, we probably should have taken his advice about gold."

    http://www.time.com/time/specials/packages/article/0,28804,1883644_1883653_1884114,00.html

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  23. Roger

    Great to see this bill gaining support!

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