The House Financial Services Committee passed the Audit the Fed amendment yesterday. This is a big victory for all lovers of liberty around the world, and cause for celebration.
But the battle is far from over. The enemies of transparency and those who benefit from the Fed’s secret dealings will do everything in their power to stop the audit from happening.
Barney Frank already indicated to a staffer “that he will continue to look for opportunities to alter the Paul amendment.” And Fed-funded “economists” will try to convince the public of the importance of Fed “independence” (that is, secrecy), and threaten us with economic disaster in case the Fed is opened up to independent scrutiny.
It’s time to remind ourselves of what we are up against. The Federal Reserve banking monopoly has the power to create money out of thin air, and as Mayer Amschel Rothschild, a prominent 18th century European banker, said: “Permit me to issue and control the money of a nation and I care not who makes its laws.”
What we have on our side is each other, the Constitution, the Internet, a growing percentage of Congress, public opinion, and the unshakable determination to succeed against all odds in this monumental battle of historic proportions.
The first round has gone to us. On October 31, Ron Paul described the remaining milestones to be achieved:
Ron Paul: “Like I said, I’m not surprised [Mel Watt’s attempt to derail HR 1207] has happened, but let’s say we are successful and we get it amended [we did!], we still ought to:
- bring it to the House floor, and then they’ll have a chance to water it down again.
- It goes through rules committee, that’s another place.
- It has to go through the Senate; it’s going to have a harder time in the Senate.
- Then it has to go to a conference committee and that’s another problem.
- And then it has to go to the President.
- And even if it goes through all that, we still have the courts to deal with, and courts have never been friendly to those of us who want honest money.”
Add in the fact that Barney Frank’s HR 3996, the “Financial Stability Improvement Act of 2009” the Audit the Fed amendment is attached to, hasn’t even come up for vote yet in the Committee (the vote was scheduled for yesterday but was postponed to early December).