Ron Paul: Audit the Fed Moves Forward!




Last week the House of Representatives overwhelmingly passed my legislation calling for a full and effective audit of the Federal Reserve. Well over 300 of my Congressional colleagues supported the bill, each casting a landmark vote that marks the culmination of decades of work. We have taken a big step toward bringing transparency to the most destructive financial institution in the world.

But in many ways our work is only beginning. Despite the Senate Majority Leader’s past support for similar legislation, no vote has been scheduled on my bill this year in the Senate. And only 29 Senators have cosponsored Senator Rand Paul’s version of my bill in the other body. If your Senator is not listed at the link above, please contact them and ask for their support. We need to push Senate leadership to hold a vote this year.

Understand that last week’s historic vote never would have taken place without the efforts of millions of Americans like you, ordinary citizens concerned about liberty and the integrity of our currency. Political elites respond to political pressure, pure and simple. They follow rather than lead. If all 100 Senators feel enough grassroots pressure, they will respond and force Senate leadership to hold what will be a very popular vote.

In fact, “Audit the Fed” is so popular that 75% of all Americans support it according to this Rasmussen poll. We are making progress.

Of course Fed apologists– including Mr. Bernanke– frequently insist that the Fed already is audited. But this is true only in the sense that it produces annual financial statements. It provides the public with its balance sheet as a fait accompli: we see only the net results of its financial transactions from the previous fiscal year in broad categories, and only after the fact.

We’re also told that the Dodd-Frank bill passed in 2010 mandates an audit. But it provides for only a limited audit of certain Fed credit facilities surrounding the crisis period of 2008. It is backward looking, which frankly is of limited benefit.

The Fed also claims it wants to be “independent” from Congress so that politics don’t interfere with monetary policy. This is absurd for two reasons.

First, the Fed already is inherently and unavoidably political. It made a political decision when it chose not to rescue Lehman Brothers in 2008, just as it made a political decision to provide liquidity for AIG in the same time period. These are just two obvious examples. Also Fed member banks and the Treasury Department are full of former– and future– Goldman Sachs officials. Are we really to believe that the interests of Goldman Sachs have absolutely no effect on Fed decisions? Clearly it’s naïve to think the Fed somehow is above political or financial influence.

Second, it’s important to remember that Congress created the Fed by statute. Congress therefore has the full, inherent authority to regulate the Fed in any way– up to and including abolishing it altogether.

My bill provides for an ongoing, thorough audit of what the Fed really does in secret, which is make decisions about the money supply, interest rates, and bailouts of favored banks, financial firms, and companies. In other words, I want the Government Accountability Office to examine the Fed’s actual monetary policy operations and make them public.

It is precisely this information that must be made public because it so profoundly affects everyone who holds, saves, or uses US dollars.

»crosslinked«



style="display:inline-block;width:728px;height:90px"
data-ad-client="ca-pub-3666212842414688"
data-ad-slot="9478233584">

99 Comments:

  1. The Zionists are deliberately destroying all Western countries! They immigrated into our nations and then secretly declared war upon us!

    They conspired to take control of our nation’s infrastructure through carefully orchestrated acts of TREASON! They became our Bankers, Politicians & media owners. Their goal is to obliterate the middle class!!

    For a FREE informative BOOKLET & video on the Zionist-engineered INTENTIONAL destruction of White people go to:

    youtube. com/watch?v=n663eVTSyS8

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  2. google change.org allow-ron-paul-to-be-put-up-fo­r-nomination-and-speak-during-­the-rnc – LESS THAN 50 MORE VOTES GUYS!!! COME ON RON PAUL!!!

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  3. The Banks faked their way into their current position after their secret meeting at Jekyll Island, off the GA coast on Nov. 9, 1910. They set about to secure their banks and families riches for future generations and they succeeded till the wars took us down. Repubs are a major part of this abomination. The FED is the main reason our economy is in the crapper. AUDIT THEM, GET RID OFTHEM !!!

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  4. Most Americans are blind from the truth, they only believe what they see. Hell, they can’t handle the truth when it’s right in front of them.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  5. Each time I watch the news, all I see is Romney and his flip-flop face. I mean, don’t the American people tire of this flip-flipping largesse? Come on, relinquish your sympathy for the devil already!

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  6. Ron Paul to WIN — or America to END 2012!
    (there are no other options!)

    All REAL Americans, and ALL People around the world— that believe in Liberty, Peace, Prosperity, Honesty, Truth, Goodness and Self-determination —are for Ron Paul.

    President Paul wants to save our Nation and heal the World, and desires nothing for himself — making him a True Patriot (unlike the megalomaniacs that want The Presidency, so they can get a bigger pie, and engorge themselves further at the people’s expense — marking them as Leeches on the path to suck US dry)!

    Ron Paul has awoken the Sleeping Giant that is We, The People! We are growing in numbers and our voice is no longer distant thunder — but a Roaring Storm that’s approaching and eventually will wipe out the PUPPETEERS that have stolen Our Nation!

    We are the MANY, while the Criminals in Power, that want to control us, are the FEW (and their subhuman squeals are getting weaker)!

    (http://www.youtube.com/watch?feature=player_embedded&v=xq3BYw4xjxE)

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  7. Even if he isn’t…write his name in.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  8. Even if he isn’t…write his name in.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  9. HOW DID THIS GET PAST THE CENSOR??
    This reporter nails it hard!

    Pay special note to mandate #4… Fleece the American Tax Payers!!

    http://www.youtube.com/watch?v=mqmYRnBVmEo&feature=player_embedded

    Any Wonder Why We Can’t Retire???

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  10. Write in Ron Paul. End foreign occupation and bring all our troops home. Let them spend their money in the U.S.A. and save 500 billion a year in military COSTS. Return local interests to State powers and end unconstitutional federal taxation. Inspire free market competition between the states. Take responsibility back and control your future.

    Report this comment

    Like or Dislike: Thumb up 1 Thumb down 0

  11. Vote Ron Paul 2012 for United States President…
    “Your children will thank you”

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

Leave a Reply