A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar.
The Fed’s actions, combined with the federal government’s bailout bills and stimulus packages, have struck a nerve in the American people.
Recent polls have shown that more than 75 percent of Americans support efforts to audit the Fed, something which my bill, HR 1207, the Federal Reserve Transparency Act, aims to do. HR 1207 has the support of 304 members of Congress, and the Senate version of the bill, S. 604, is supported by 31 U.S. senators.
Fed Chairman Ben Bernanke has embarked on an ambitious program of monetary expansion, more than doubling the monetary base to almost $1.9 trillion and doubling the size of its balance sheet to over $2 trillion, placing the American economy in a precarious position.
If all this excess money begins to be loaned out, the Fed risks creating a hyperinflationary crisis similar to 1920s Germany. If the Fed contracts this money, it risks harming the banks it desperately wants to see bailed out.
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I aplaud you Ron Paul and other political representive Congress , Senate or other wise. Tim Geithner is just another one protecting the devil in the details. Take that little bull by the horns and you know what to do. Take back our constitution article #1 sec.#8 first amendment states: Congress shall have the right to coin , create the value of the dollar thereof; get rid of the federal reserve corp. and bring back the almost exstint department of weights and measures created from the coinage act of 1792 and manufacture our dollar and coins then distibute it interest & debt free again.
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we the people.
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