14 responses to “Ron Paul’s Bill To Audit The Federal Reserve Now Has 134 Co-Sponsors”

  1. longshotlouie

    Even if everything that Mr. Gonzalez believed were true, the FED should be fired (and all debts written off) for doing such a piss poor job.

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  2. Stewart

    Charles A Gonzalez,

    From your letter, it is apparent you believe:
    1. The Federal Reserve is currently apolitical despite examples to the contrary, the most recent being Timothy Geithner moving from President of the New York Federal Reserve to the top position in the Treasury Department. The revolving door between the Fed. and the big banks and brokerage houses that are being bailed out seems to be a non-issue with you as well.
    2. The government cannot simply demand to see the accounts of a bank, but were not the stress tests just that? This is unacceptable ignorance on your part.
    3. The Federal Reserve should be able to use taxpayer funds with virtually no taxpayer protections and oversight that H.R. 1207 would provide.
    4. The Federal Reserve has prevented instability in the economy demonstrated by their track record, and has inspired confidence in the markets that our economy is in good hands.

    Is is nothing short of appalling that you could hold these views as demonstrated by your letter, and you clearly are not qualified to represent me.

    Sincerely,

    American Taxpayers

    »crosslinked«

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  3. autumn

    I emailed Charlie Gonzales (D-TX) about a month ago and called him last week, this is the response I got from him today:

    I have followed the Financial Service Committee’s oversight hearings of the Federal Reserve and the banking system with great interest and Congress must remain vigilant and meet our oversight obligations. With the size of government investments in recent months, the desire and right of the government to such scrutiny has never been higher.

    The Treasury, Federal Deposit Insurance Corporation, and other regulators have performed just such an investigation in the course of the stress tests of the largest banks. FDIC keeps a constant watch on all of its member banks as well, and Congress will continue to hold hearings and investigate so the government is on the job. At first blush, the Federal Reserve Transparency Act of 2009 (HR 1207) looks like just another aspect of that scrutiny. Closer examination, however, reveals some problems with this bill’s approach.

    The United States Code has strict provisions to prevent the federal government from improper direct interference in the way businesses operate. One of those restrictions is that the government may not simply demand to see the account books of a bank. HR 1207 would remove that protection, exposing all banks to partisan, political pressure. That it exposes the Federal Reserve to the same pressure is improper as well. Congress created the Fed to keep our country’s monetary policy in a non-partisan, apolitical agency, so the Governors could focus on setting wise policy regardless of how it might affect any political party. That was a wise decision and it has served us well over the years.

    HR 1207 would undermine the very protections the Fed was created to provide, and would expose individual businesses to government interference. While systemic oversight is an important role, government is not supposed to micromanage business in this way. That’s just not a policy I can support.

    Sincerely,

    Charles A. Gonzalez
    Member of Congress

    Soooooooo IDK what to tell him. Seems like he’s pretty stuck on not supporting it. If anyone can come up with a rebuttal for that, let me know and I’ll be glad to pass it on to him haha.

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    1. Marianne  to Mr Gonzalez

      Mr. Gonzalez,

      The Federal Reserve System (of which it is none! not Federal
      with no Reserve (the money it puts out is “fiat”) and is not
      a System but a Bank in disguise to fool the publlic!

      26 years after its’s founding in 1913 when the argument in favor
      of a National Bank was to smooth out the “boom and busts” in US
      economic cycle came the 1929 crash. Why wasn’t this deceptive
      syetem repealed IMMEDIATELY?

      There have been numerous “boom and bust” cycles when the FED MANIPLATED the M3 currency e.g. loosened credit rates, prices rose, closed down on credit, wealth was lost by the people, assets were bought at FIRE SALE PRICES by the MONEY MEN. This sequence explains WHY the MONEYED MEN end up with “all the marbles”!

      Why shouldn’t the PEOPLE know what the FED is doing with OUR
      MONEY? Your constituents should know that you are protecting
      this “Monster” that has not let us in on its “GAME” for nearly
      100 years! Your district will vote you OUT!

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  4. Joe Pitre

    In regards to H.R. 1207. H.R. 1207 is still sitting in committee. Could Speaker Pelosi bring it out of committee and to a full house vote? If so why don’t we send out the message for everyone to start contacing her?

    Thanks

    Joe Pitre

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  5. Micah Turner

    I emailed Walt Minnick, the Idaho rep. We will see if I get a response. It’ll be awesome if we get some more democrats in on this! I’ll feel especially pwnly if it’s my email that does it too! heh

    -Micah Turner

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  6. longshotlouie

    Cut Out The Cancer

    End The Fed

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  7. JS

    Pat, you may be right, however – you seem to be using an ‘ignorance is bliss’ approach to understanding what is going on with our monitary policy. I’m not sure that is the smartest thing. You are also very assumptive to what the end result may be. I really hope you don’t base your support of the bill based on the logic you just provided.

    I contacted my congressment Jared Polis (2nd Congressional District of Colorado) today.

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  8. pat

    I think that this bill will have many unintended consequences. What will happen is that first people will become disgusted with the federal reserve. Then instead of abolishing this socialist entity, it will give the government, mainly the congress, to exert its control over the decision making of the fed. The idea of Nancy Pelosi and Harry Reid controlling our monetary policy is far more harmful than the fed itself.

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  9. bill mooney

    The Fed. is a limited partnership and can avoid an audit by law.
    The Fed. is 30 to 40% owned by European central banking famalies
    and should be abolished due to fraud and manipulation allowing
    insider trading. The Rothchilds,Warburgs,Lazards etc. should be tried for treason after giving Saddam Hussein 1 billion he requested for the insugency shortly before we went in there. They
    did not want quick success as the profit was and is in prolonging
    it, as long as possible.

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    1. dpjohnson

      My fear is that they have so much control that they would bankrupt the American economy rather than give up their power and privacy.

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      1. NotRocketScience

        It seems that they have already done just that.

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  10. Maria S. Weaver

    I have emailed Representative Ortiz Jr. about co-sponsoring this bill. I still don’t see his name on the list.

    My question is: why wouldn’t representatives co-sponsor this bill. I think that it is because they might have something to hide.

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  11. Kurt Tagtmeyer

    I just tried Rep Delahunt’s (MA-10) office again. The person I spoke with (Katy) said she would pass the message along again to Mr. Delahunt. I have given my personal contact information to his office at least 3 times over the past few weeks so that he could inform me of his decision. I also asked for an explantion if he chooses not to co-sponsor this bill. I ask again, what is wrong with the Congressman and Senators in Massachusetts? I have to believe that, as another Ron Paul commentor said, MA politicians are in the pockets of special interests. I also believe that they are in it for their own interests as well.

    I will keep trying anyway to get a MA co-sponsor on this list.

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