The Federal Reserve is the chief culprit behind the economic crisis. Its unchecked power to create endless amounts of money out of thin air brought us the boom and bust cycle and causes one financial bubble after another. Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value, and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erodes the value of the dollar.
For the past 30 years, Congressman Ron Paul has worked tirelessly to bring much-needed transparency and accountability to the secretive bank. And in 2009 his unfaltering dedication showed astonishing results: HR 1207, the bill to audit the Federal Reserve, swept the country and made the central bankers shudder at their desks. The bill passed as an amendment both in the House Financial Services Committee and in the House itself.
But the usurpers of America’s future didn’t take it lying down. They weren’t about to allow their secrets to be exposed and their magic money machine to be put under close scrutiny. They worked frantically behind the scenes to quietly derail all efforts to open up the Federal Reserve to an independent audit.
A handful of Fed-loving U.S. senators led by Chris Dodd rewrote the Senate version of the Financial Reform Bill to strip out Ron Paul’s Audit the Fed amendment and actually expand the Fed’s power over banks, lending and money. As Alan Grayson pointed out here, and Ron Paul commented on here, the Dodd bill completely eliminated legislation to audit the Federal Reserve, which already passed in the House.
Sen. Bernie Sanders (I-Vt.) introduced an amendment on the floor effectively adding the Grayson-Paul language to the Senate bill, but later changed his amendment under pressure by the Federal Reserve and the Obama administration. The altered Sanders amendment passed the Senate on May 11, 2010 by a unanimous 96-0 vote.
Sen. Vitter reintroduced an amendment with the original Audit the Fed language. The Senate rejected the amendment on May 11, 2010 by a 37-62 vote.
The House and Senate went to the conference committee which attempted to reconcile the differences between the two bills (and their amendments). Unfortunately, Ron Paul’s tough language ended up not being included in the final bill.
On June 30, 2010, the GOP introduced Ron Paul’s Audit the Fed bill as a motion to recommit, which was the last chance to alter the financial regulation bill. Audit the Fed failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 114 co-sponsors of HR 1207, all Democrats, jumped ship and voted against Audit the Fed.
But let’s start from the beginning. Here’s the fascinating history of Ron Paul’s Audit the Fed bill:
02/2009: Ron Paul introduces bill to Audit the Federal Reserve
On February 26, 2009, Ron Paul introduced HR 1207, the bill to audit the Federal Reserve:
“I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.”
After a groundswell of grassroots support, HR 1207 and its counterpart in the Senate, S 604, went on to attract 320 and 32 co-sponsors respectively.
10/2009: Mel Watt Introduces Competing Placebo Amendment
With HR 1207 gaining momentum, Congressman Mel Watt introduced a competing banker-approved “placebo” amendment that would have replaced HR 1207 and actually increased the Federal Reserve’s secrecy.
11/2009: Victory over Mel Watt Amendment
On November 19, 2009, after a historic debate lasting several hours, Ron Paul’s and Alan Grayson’s “Audit the Fed” amendment passed 43-26 in the House Financial Services Committee. The amendment called for a comprehensive audit of the Federal Reserve and replaced the opposing “placebo” amendment proposed by Mel Watt.
How they voted on Ron Paul’s Audit the Fed amendment (HR 1207 co-sponsors in bold):
Note: Due to a clerical error, until 5/26/2010 this roll call erroneously listed Rep. Gary Miller (CA-42) as a Democrat who supposedly voted “nay”. However, the reality is that Rep. Miller is a Republican who was absent on the day of the vote. He is a co-sponsor of HR 1207. We apologize!
| Democrats | |||
| MA-04 | Rep. Barney Frank | nay | |
| PA-11 | Rep. Paul E. Kanjorski | nay | |
| CA-35 | Rep. Maxine Waters | nay | |
| NY-14 | Rep. Carolyn B. Maloney | nay | |
| IL-04 | Rep. Luis V. Gutierrez | nay | |
| NY-12 | Rep. Nydia M. Velázquez | nay | |
| NC-12 | Rep. Melvin L. Watt | nay | |
| NY-05 | Rep. Gary L. Ackerman | nay | |
| CA-27 | Rep. Brad Sherman | aye | |
| NY-06 | Rep. Gregory W. Meeks | nay | |
| KS-03 | Rep. Dennis Moore | nay | |
| MA-08 | Rep. Michael E. Capuano | nay | |
| TX-15 | Rep. Rubén Hinojosa | aye | |
| MO-01 | Rep. William Lacy Clay | aye | |
| NY-04 | Rep. Carolyn McCarthy | nay | |
| CA-43 | Rep. Joe Baca | ||
| MA-09 | Rep. Stephen F. Lynch | nay | |
| GA-13 | Rep. David Scott | aye | |
| TX-09 | Rep. Al Green | nay | |
| MO-05 | Rep. Emanuel Cleaver | nay | |
| IL-08 | Rep. Melissa L. Bean | nay | |
| WI-04 | Rep. Gwen Moore | nay | |
| NH-02 | Rep. Paul W. Hodes | aye | |
| MN-05 | Rep. Keith Ellison | nay | |
| FL-22 | Rep. Ron Klein | nay | |
| OH-06 | Rep. Charles Wilson | nay | |
| CO-07 | Rep. Ed Perlmutter | aye | |
| IN-02 | Rep. Joe Donnelly | nay | |
| IL-14 | Rep. Bill Foster | nay | |
| IN-07 | Rep. Andre Carson | nay | |
| CA-12 | Rep. Jackie Speier | aye | |
| MS-01 | Rep. Travis Childers | aye | |
| ID-01 | Rep. Walt Minnick | aye | |
| NJ-03 | Rep. John Adler | aye | |
| OH-15 | Rep. Mary Jo Kilroy | nay | |
| OH-01 | Rep. Steve Driehaus | aye | |
| FL-24 | Rep. Suzanne Kosmas | aye | |
| FL-08 | Rep. Alan Grayson | aye | |
| CT-04 | Rep. Jim Himes | nay | |
| MI-09 | Rep. Gary Peters | aye | |
| NY-25 | Rep. Dan Maffei | aye | |
| Republicans | |||
| AL-06 | Rep. Spencer Bachus | aye | |
| TX-19 | Rep. Randy Neugebauer | aye | |
| DE-01 | Rep. Michael N. Castle | aye | |
| NY-03 | Rep. Peter King | aye | |
| CA-40 | Rep. Edward R. Royce | aye | |
| OK-03 | Rep. Frank D. Lucas | aye | |
| TX-14 | Rep. Ron Paul (sponsor) | aye | |
| IL-16 | Rep. Donald A. Manzullo | aye | |
| NC-03 | Rep. Walter B. Jones | aye | |
| IL-13 | Rep. Judy Biggert | aye | |
| NC-13 | Rep. Brad Miller | ||
| WV-02 | Rep. Shelley Moore Capito | aye | |
| TX-05 | Rep. Jeb Hensarling | aye | |
| NJ-05 | Rep. Scott Garrett | aye | |
| SC-03 | Rep. J. Gresham Barrett | aye | |
| PA-06 | Rep. Jim Gerlach | aye | |
| GA-06 | Rep. Tom Price | aye | |
| NC-10 | Rep. Patrick T. McHenry | aye | |
| CA-48 | Rep. John Campbell | aye | |
| FL-12 | Rep. Adam Putnam | aye | |
| MN-06 | Rep. Michele Bachmann | aye | |
| TX-24 | Rep. Kenny Marchant | aye | |
| MI-11 | Rep. Thaddeus McCotter | aye | |
| CA-22 | Rep. Kevin McCarthy | aye | |
| FL-15 | Rep. Bill Posey | aye | |
| KS-02 | Rep. Lynn Jenkins | aye | |
| NY-26 | Rep. Christopher Lee | aye | |
| MN-03 | Rep. Erik Paulsen | aye | |
| NJ-07 | Rep. Leonard Lance | aye |
12/2009: Audit the Fed Passes in the House
The Audit the Fed amendment was attached to Barney Frank’s HR 3996, also known as the “Financial Stability Improvement Act of 2009″. That bill was later combined, along with several other bills, into “The Wall Street Reform and Consumer Protection Act of 2009 – Financial Stability Improvement Act of 2009″ (HR 4173). The House passed the new bill on December 11, 2009 on a vote of 223-202.
03/2010: Treasury Officials Still Support Mel Watt Amendment
On March 8, 2010 Huffington Post reporter Sam Stein participated in a bizarre meeting with unnamed high level treasury officials:
The Treasury Department is vigorously opposed to a House-passed measure that would open the Federal Reserve to an audit by the Government Accountability Office (GAO), a senior Treasury official said Monday. Instead, the official said, the Treasury prefers a substitute offered by Rep. Mel Watt (D-N.C.), and would like to see it enacted as part of the Senate bill.
The Watt measure, however, while claiming to increase transparency, actually puts new restrictions on the GAO’s ability to perform an audit.
03/2010: Mel Watt Amendment Used in Senate Version of the Financial Reform Bill
Ron Paul: “In the Senate, we didn’t get enough strong support over there and the Republicans didn’t really fight for it and at the Senate side it is not included. Matter of fact, they have included Mel Watts’s language. His language and my language competed in the House Financial Services Committee and of course we won that pretty easily. But they inserted that in so Mel Watt and the bankers were able to influence the senators enough to put their language in there. So what probably will happen is the two bills will be passed. It’ll be in one bill and not the other and then the fight will be to put pressure on the conference to go with the House [bill] instead of the Senate.”
04/2010: Bernie Sanders Introduces Audit the Fed Amendment in the Senate
Sen. Bernie Sanders (I-Vt.) introduced an amendment on the floor effectively adding the Grayson-Paul language to the Senate bill.
05/2010: Bernie Sanders Sells Out, Senate Passes Watered Down Amendment
On May 6, 2010 Bernie Sanders sold out to the bankers by modifying his amendment to the extent that it would allow the Fed to keep many of its activities secret. On May 11, 2010 the Sanders amendment passed the Senate by a unanimous 96-0 vote.
05/2010: David Vitter Comes To The Rescue But His Amendment is Defeated
Sen. David Vitter reintroduced an amendment with Ron Paul’s original Audit the Fed language. The Senate rejected the amendment on May 11, 2010 by a 37-62 vote.
06/2010: 114 Democrats Jump Ship and Vote Down Audit the Fed
On June 30, 2010, Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 114 co-sponsors of HR 1207, all Democrats, jumped ship and voted against Audit the Fed.
The GOP had offered the Fed audit as the minority’s last chance to alter the financial regulation bill. The bill does have an watered-down audit provision in the conference report, but it is limited to loans made by the Fed during the height of the economic crisis. Ron Paul’s bill would have allowed a total examination of the Fed’s books.
How they voted
Democrats, Republicans, HR 1207 Co-Sponsors
YEA
|
Aderholt |
Garrett (NJ) Gerlach Giffords Gingrey (GA) Gohmert Goodlatte Granger Graves (GA) Graves (MO) Grayson Griffith Guthrie Hall (TX) Harper Hastings (WA) Heller Hensarling Herger Hodes Hoekstra Hunter Inglis Issa Jenkins Johnson (IL) Johnson, Sam Jones Jordan (OH) King (IA) King (NY) Kingston Kirk Kirkpatrick (AZ) Kline (MN) Kratovil Lamborn Lance Latham LaTourette Latta Lee (NY) Lewis (CA) Linder Lipinski LoBiondo Lucas Luetkemeyer Lummis Lungren, Daniel E. Mack Manzullo Marchant Markey (CO) McCarthy (CA) McCaul McClintock McCotter McHenry McIntyre McKeon McMorris Rodgers McNerney Mica Miller (FL) Miller (MI) Miller, Gary |
Minnick Mitchell Moran (KS) Murphy, Tim Myrick Neugebauer Nunes Nye Olson Paul Paulsen Pence Perriello Petri Pitts Platts Poe (TX) Posey Price (GA) Putnam Radanovich Rehberg Reichert Roe (TN) Rogers (AL) Rogers (KY) Rogers (MI) Rohrabacher Rooney Ros-Lehtinen Roskam Ross Royce Ryan (WI) Scalise Schmidt Schock Sensenbrenner Sessions Shadegg Shimkus Shuster Simpson Skelton Smith (NE) Smith (NJ) Smith (TX) Space Stearns Sullivan Teague Terry Thompson (PA) Thornberry Tiahrt Tiberi Titus Turner Upton Walden Westmoreland Whitfield Wilson (SC) Wittman Wolf Young (FL) |
NAY
|
Ackerman |
Gonzalez |
Napolitano |
Not Voting
Bishop (UT)
Taylor
Wamp
Woolsey
Young (AK)
THE END? Not yet! Audit the Fed will be back in 2011.
(The information below covers the original HR 1207 and S 604 bills.)
Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 320 co-sponsors, and the numbers keep growing! HR 1207’s companion bill in the Senate, S 604, has already attracted 32 co-sponsors.
This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With two thirds of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.
Step 1: Your Representative
If your representative is not on the following list of HR 1207 co-sponsors, call their offices, write to them, email them. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.
Capitol Switchboard: (202) 224-3121
Enter your zip code to contact your representative:
HR 1207 Co-Sponsors
Rep Abercrombie, Neil [HI-1] – 2/26/2009
Rep Aderholt, Robert B. [AL-4] – 5/6/2009
Rep Adler, John H. [NJ-3] – 5/6/2009
Rep Akin, W. Todd [MO-2] – 3/19/2009
Rep Alexander, Rodney [LA-5] – 3/10/2009
Rep Altmire, Jason [PA-4] – 5/20/2009
Rep Arcuri, Michael A. [NY-24] – 9/23/2009
Rep Austria, Steve [OH-7] – 5/6/2009
Rep Bachmann, Michele [MN-6] – 2/26/2009
Rep Bachus, Spencer [AL-6] – 4/29/2009
Rep Baird, Brian [WA-3] – 7/10/2009
Rep Baldwin, Tammy [WI-2] – 4/21/2009
Rep Barrett, J. Gresham [SC-3] – 4/28/2009
Rep Barrow, John [GA-12] – 5/12/2009
Rep Bartlett, Roscoe G. [MD-6] – 2/26/2009
Rep Barton, Joe [TX-6] – 5/4/2009
Rep Berkley, Shelley [NV-1] – 5/21/2009
Rep Berry, Marion [AR-1] – 5/20/2009
Rep Biggert, Judy [IL-13] – 4/28/2009
Rep Bilbray, Brian P. [CA-50] – 4/21/2009
Rep Bilirakis, Gus M. [FL-9] – 5/4/2009
Rep Bishop, Rob [UT-1] – 4/21/2009
Rep Bishop, Sanford D., Jr. [GA-2] – 10/27/2009
Rep Bishop, Timothy H. [NY-1] – 7/10/2009
Rep Blackburn, Marsha [TN-7] – 3/16/2009
Rep Blunt, Roy [MO-7] – 3/24/2009
Rep Boccieri, John A. [OH-16] – 7/28/2009
Rep Boehner, John A. [OH-8] – 6/10/2009
Rep Bonner, Jo [AL-1] – 6/9/2009
Rep Bono Mack, Mary [CA-45] – 4/29/2009
Rep Boozman, John [AR-3] – 5/7/2009
Rep Boren, Dan [OK-2] – 12/1/2009
Rep Boswell, Leonard L. [IA-3] – 6/9/2009
Rep Boucher, Rick [VA-9] – 7/20/2009
Rep Boustany, Charles W., Jr. [LA-7] – 5/13/2009
Rep Boyd, Allen [FL-2] – 7/14/2009
Rep Brady, Kevin [TX-8] – 4/22/2009
Rep Braley, Bruce L. [IA-1] – 6/11/2009
Rep Bright, Bobby [AL-2] – 6/11/2009
Rep Broun, Paul C. [GA-10] – 2/26/2009
Rep Brown, Corrine [FL-3] – 6/11/2009
Rep Brown, Henry E., Jr. [SC-1] – 4/28/2009
Rep Brown-Waite, Ginny [FL-5] – 5/20/2009
Rep Buchanan, Vern [FL-13] – 3/17/2009
Rep Burgess, Michael C. [TX-26] – 3/19/2009
Rep Burton, Dan [IN-5] – 2/26/2009
Rep Buyer, Steve [IN-4] – 4/30/2009
Rep Calvert, Ken [CA-44] – 4/29/2009
Rep Camp, Dave [MI-4] – 6/18/2009
Rep Campbell, John [CA-48] – 5/4/2009
Rep Cantor, Eric [VA-7] – 6/23/2009
Rep Cao, Anh “Joseph” [LA-2] – 6/11/2009
Rep Capito, Shelley Moore [WV-2] – 4/1/2009
Rep Carney, Christopher P. [PA-10] – 6/9/2009
Rep Carter, John R. [TX-31] – 3/31/2009
Rep Cassidy, Bill [LA-6] – 5/4/2009
Rep Castle, Michael N. [DE] – 3/17/2009
Rep Chaffetz, Jason [UT-3] – 3/6/2009
Rep Chandler, Ben [KY-6] – 7/7/2009
Rep Childers, Travis [MS-1] – 6/9/2009
Rep Chu, Judy [CA-32] – 10/6/2009
Rep Clay, Wm. Lacy [MO-1] – 11/19/2009
Rep Coble, Howard [NC-6] – 6/11/2009
Rep Coffman, Mike [CO-6] – 6/16/2009
Rep Cohen, Steve [TN-9] – 10/22/2009
Rep Cole, Tom [OK-4] – 4/21/2009
Rep Conaway, K. Michael [TX-11] – 5/7/2009
Rep Conyers, John, Jr. [MI-14] – 6/23/2009
Rep Courtney, Joe [CT-2] – 7/8/2009
Rep Crenshaw, Ander [FL-4] – 5/4/2009
Rep Cuellar, Henry [TX-28] – 9/24/2009
Rep Culberson, John Abney [TX-7] – 3/26/2009
Rep Dahlkemper, Kathleen A. [PA-3] – 7/22/2009
Rep Davis, Danny K. [IL-7] – 6/26/2009
Rep Davis, Geoff [KY-4] – 5/6/2009
Rep Davis, Lincoln [TN-4] – 9/30/2009
Rep Deal, Nathan [GA-9] – 3/23/2009
Rep DeFazio, Peter A. [OR-4] – 3/9/2009
Rep Delahunt, Bill [MA-10] – 9/9/2009
Rep Dent, Charles W. [PA-15] – 5/6/2009
Rep Diaz-Balart, Lincoln [FL-21] – 7/10/2009
Rep Diaz-Balart, Mario [FL-25] – 6/18/2009
Rep Doggett, Lloyd [TX-25] – 4/21/2009
Rep Doyle, Michael F. [PA-14] – 9/29/2009
Rep Dreier, David [CA-26] – 6/10/2009
Rep Driehaus, Steve [OH-1] – 10/6/2009
Rep Duncan, John J., Jr. [TN-2] – 3/6/2009
Rep Edwards, Chet [TX-17] – 6/16/2009
Rep Edwards, Donna F. [MD-4] – 6/11/2009
Rep Ehlers, Vernon J. [MI-3] – 4/21/2009
Rep Emerson, Jo Ann [MO-8] – 7/15/2009
Rep Fallin, Mary [OK-5] – 4/2/2009
Rep Farr, Sam [CA-17] – 7/8/2009
Rep Filner, Bob [CA-51] – 7/28/2009
Rep Flake, Jeff [AZ-6] – 5/11/2009
Rep Fleming, John [LA-4] – 3/18/2009
Rep Forbes, J. Randy [VA-4] – 5/20/2009
Rep Fortenberry, Jeff [NE-1] – 5/12/2009
Rep Foxx, Virginia [NC-5] – 3/10/2009
Rep Franks, Trent [AZ-2] – 3/23/2009
Rep Frelinghuysen, Rodney P. [NJ-11] – 6/3/2009
Rep Fudge, Marcia L. [OH-11] – 7/9/2009
Rep Gallegly, Elton [CA-24] – 7/7/2009
Rep Garrett, Scott [NJ-5] – 3/5/2009
Rep Gerlach, Jim [PA-6] – 5/11/2009
Rep Giffords, Gabrielle [AZ-8] – 6/16/2009
Rep Gingrey, Phil [GA-11] – 3/30/2009
Rep Gohmert, Louie [TX-1] – 4/23/2009
Rep Goodlatte, Bob [VA-6] – 4/28/2009
Rep Gordon, Bart [TN-6] – 9/8/2009
Rep Granger, Kay [TX-12] – 4/28/2009
Rep Graves, Sam [MO-6] – 4/22/2009
Rep Graves, Tom [GA-9] – 6/17/2010
Rep Grayson, Alan [FL-8] – 3/11/2009
Rep Griffith, Parker [AL-5] – 6/16/2009
Rep Grijalva, Raul M. [AZ-7] – 6/3/2009
Rep Guthrie, Brett [KY-2] – 5/7/2009
Rep Hall, Ralph M. [TX-4] – 4/29/2009
Rep Halvorson, Deborah L. [IL-11] – 6/3/2009
Rep Hare, Phil [IL-17] – 5/11/2009
Rep Harman, Jane [CA-36] – 7/7/2009
Rep Harper, Gregg [MS-3] – 5/11/2009
Rep Hastings, Doc [WA-4] – 5/11/2009
Rep Heinrich, Martin [NM-1] – 11/2/2009
Rep Heller, Dean [NV-2] – 3/6/2009
Rep Hensarling, Jeb [TX-5] – 5/4/2009
Rep Herger, Wally [CA-2] – 4/21/2009
Rep Herseth Sandlin, Stephanie [SD] – 5/6/2009
Rep Higgins, Brian [NY-27] – 10/13/2009
Rep Hill, Baron P. [IN-9] – 10/22/2009
Rep Hinchey, Maurice D. [NY-22] – 6/2/2009
Rep Hinojosa, Ruben [TX-15] – 9/10/2009
Rep Hirono, Mazie K. [HI-2] – 7/8/2009
Rep Hoekstra, Peter [MI-2] – 4/28/2009
Rep Holden, Tim [PA-17] – 6/4/2009
Rep Hunter, Duncan D. [CA-52] – 5/13/2009
Rep Inglis, Bob [SC-4] – 4/23/2009
Rep Inslee, Jay [WA-1] – 5/12/2009
Rep Issa, Darrell E. [CA-49] – 6/16/2009
Rep Jackson, Jesse L., Jr. [IL-2] – 7/30/2009
Rep Jenkins, Lynn [KS-2] – 4/23/2009
Rep Johnson, Eddie Bernice [TX-30] – 9/15/2009
Rep Johnson, Henry C. “Hank,” Jr. [GA-4] – 6/9/2009
Rep Johnson, Sam [TX-3] – 4/22/2009
Rep Johnson, Timothy V. [IL-15] – 4/23/2009
Rep Jones, Walter B., Jr. [NC-3] – 2/26/2009
Rep Jordan, Jim [OH-4] – 6/2/2009
Rep Kagen, Steve [WI-8] – 2/26/2009
Rep Kaptur, Marcy [OH-9] – 4/23/2009
Rep Kildee, Dale E. [MI-5] – 9/21/2009
Rep Kilpatrick, Carolyn C. [MI-13] – 12/1/2009
Rep King, Peter T. [NY-3] – 6/4/2009
Rep King, Steve [IA-5] – 6/11/2009
Rep Kingston, Jack [GA-1] – 3/6/2009
Rep Kirk, Mark Steven [IL-10] – 7/15/2009
Rep Kirkpatrick, Ann [AZ-1] – 7/14/2009
Rep Kissell, Larry [NC-8] – 11/5/2009
Rep Kline, John [MN-2] – 4/29/2009
Rep Kosmas, Suzanne M. [FL-24] – 6/17/2009
Rep Kratovil, Frank, Jr. [MD-1] – 6/4/2009
Rep Kucinich, Dennis J. [OH-10] – 6/11/2009
Rep Lamborn, Doug [CO-5] – 4/21/2009
Rep Lance, Leonard [NJ-7] – 5/11/2009
Rep Langevin, James R. [RI-2] – 9/8/2009
Rep Latham, Tom [IA-4] – 4/21/2009
Rep LaTourette, Steven C. [OH-14] – 4/28/2009
Rep Latta, Robert E. [OH-5] – 5/20/2009
Rep Lee, Christopher J. [NY-26] – 6/10/2009
Rep Lewis, Jerry [CA-41] – 6/24/2009
Rep Lewis, John [GA-5] – 9/23/2009
Rep Linder, John [GA-7] – 5/6/2009
Rep Lipinski, Daniel [IL-3] – 6/4/2009
Rep LoBiondo, Frank A. [NJ-2] – 5/4/2009
Rep Loebsack, David [IA-2] – 6/10/2009
Rep Lofgren, Zoe [CA-16] – 7/7/2009
Rep Lucas, Frank D. [OK-3] – 4/21/2009
Rep Luetkemeyer, Blaine [MO-9] – 4/21/2009
Rep Lujan, Ben Ray [NM-3] – 11/19/2009
Rep Lummis, Cynthia M. [WY] – 3/19/2009
Rep Lungren, Daniel E. [CA-3] – 5/7/2009
Rep Mack, Connie [FL-14] – 5/12/2009
Rep Maffei, Daniel B. [NY-25] – 5/12/2009
Rep Manzullo, Donald A. [IL-16] – 4/21/2009
Rep Marchant, Kenny [TX-24] – 3/11/2009
Rep Markey, Betsy [CO-4] – 6/25/2009
Rep Massa, Eric J. J. [NY-29] – 4/22/2009
Rep McCarthy, Kevin [CA-22] – 5/4/2009
Rep McCaul, Michael T. [TX-10] – 4/21/2009
Rep McClintock, Tom [CA-4] – 3/6/2009
Rep McCotter, Thaddeus G. [MI-11] – 3/19/2009
Rep McDermott, Jim [WA-7] – 4/29/2009
Rep McGovern, James P. [MA-3] – 6/10/2009
Rep McHenry, Patrick T. [NC-10] – 4/30/2009
Rep McHugh, John M. [NY-23] – 5/4/2009
Rep McIntyre, Mike [NC-7] – 6/10/2009
Rep McKeon, Howard P. “Buck” [CA-25] – 6/11/2009
Rep McMorris Rodgers, Cathy [WA-5] – 5/4/2009
Rep McNerney, Jerry [CA-11] – 3/16/2010
Rep Melancon, Charlie [LA-3] – 7/10/2009
Rep Mica, John L. [FL-7] – 5/12/2009
Rep Michaud, Michael H. [ME-2] – 5/7/2009
Rep Miller, Brad [NC-13] – 9/22/2009
Rep Miller, Candice S. [MI-10] – 4/28/2009
Rep Miller, Gary G. [CA-42] – 6/10/2009
Rep Miller, Jeff [FL-1] – 3/24/2009
Rep Minnick, Walter [ID-1] – 5/13/2009
Rep Mitchell, Harry E. [AZ-5] – 6/9/2009
Rep Moran, Jerry [KS-1] – 5/4/2009
Rep Murphy, Christopher S. [CT-5] – 7/7/2009
Rep Murphy, Patrick J. [PA-8] – 6/9/2009
Rep Murphy, Scott [NY-20] – 7/9/2009
Rep Murphy, Tim [PA-18] – 4/29/2009
Rep Myrick, Sue Wilkins [NC-9] – 4/28/2009
Rep Nadler, Jerrold [NY-8] – 9/10/2009
Rep Neugebauer, Randy [TX-19] – 4/30/2009
Rep Nunes, Devin [CA-21] – 6/12/2009
Rep Nye, Glenn C., III [VA-2] – 9/17/2009
Rep Oberstar, James L. [MN-8] – 7/31/2009
Rep Olson, Pete [TX-22] – 4/21/2009
Rep Ortiz, Solomon P. [TX-27] – 5/14/2009
Rep Pascrell, Bill, Jr. [NJ-8] – 6/9/2009
Rep Pastor, Ed [AZ-4] – 5/20/2009
Rep Paulsen, Erik [MN-3] – 3/30/2009
Rep Payne, Donald M. [NJ-10] – 7/30/2009
Rep Pence, Mike [IN-6] – 4/21/2009
Rep Perlmutter, Ed [CO-7] – 6/10/2009
Rep Perriello, Thomas S.P. [VA-5] – 5/13/2009
Rep Peterson, Collin C. [MN-7] – 3/19/2009
Rep Petri, Thomas E. [WI-6] – 3/10/2009
Rep Pingree, Chellie [ME-1] – 10/6/2009
Rep Pitts, Joseph R. [PA-16] – 4/28/2009
Rep Platts, Todd Russell [PA-19] – 3/19/2009
Rep Poe, Ted [TX-2] – 2/26/2009
Rep Polis, Jared [CO-2] – 6/11/2009
Rep Posey, Bill [FL-15] – 2/26/2009
Rep Price, Tom [GA-6] – 3/10/2009
Rep Putnam, Adam H. [FL-12] – 4/28/2009
Rep Quigley, Mike [IL-5] – 3/9/2010
Rep Radanovich, George [CA-19] – 5/6/2009
Rep Rehberg, Denny [MT] – 2/26/2009
Rep Reichert, David G. [WA-8] – 5/20/2009
Rep Reyes, Silvestre [TX-16] – 12/1/2009
Rep Richardson, Laura [CA-37] – 7/28/2009
Rep Rodriguez, Ciro D. [TX-23] – 12/1/2009
Rep Roe, David P. [TN-1] – 4/21/2009
Rep Rogers, Harold [KY-5] – 7/14/2009
Rep Rogers, Mike D. [AL-3] – 5/13/2009
Rep Rogers, Mike J. [MI-8] – 5/20/2009
Rep Rohrabacher, Dana [CA-46] – 3/6/2009
Rep Rooney, Thomas J. [FL-16] – 4/22/2009
Rep Ros-Lehtinen, Ileana [FL-18] – 4/28/2009
Rep Roskam, Peter J. [IL-6] – 6/2/2009
Rep Ross, Mike [AR-4] – 5/21/2009
Rep Rothman, Steven R. [NJ-9] – 6/18/2009
Rep Royce, Edward R. [CA-40] – 5/12/2009
Rep Ruppersberger, C. A. Dutch [MD-2] – 10/20/2009
Rep Ryan, Paul [WI-1] – 5/14/2009
Rep Ryan, Tim [OH-17] – 10/23/2009
Rep Salazar, John T. [CO-3] – 7/15/2009
Rep Sarbanes, John P. [MD-3] – 6/15/2009
Rep Scalise, Steve [LA-1] – 5/20/2009
Rep Schakowsky, Janice D. [IL-9] – 5/6/2009
Rep Schauer, Mark H. [MI-7] – 5/20/2009
Rep Schiff, Adam B. [CA-29] – 7/14/2009
Rep Schmidt, Jean [OH-2] – 6/11/2009
Rep Schock, Aaron [IL-18] – 5/6/2009
Rep Schrader, Kurt [OR-5] – 9/15/2009
Rep Scott, David [GA-13] – 7/20/2009
Rep Sensenbrenner, F. James, Jr. [WI-5] – 5/7/2009
Rep Sessions, Pete [TX-32] – 3/23/2009
Rep Shadegg, John B. [AZ-3] – 5/7/2009
Rep Shea-Porter, Carol [NH-1] – 6/9/2009
Rep Sherman, Brad [CA-27] – 6/23/2009
Rep Shimkus, John [IL-19] – 4/22/2009
Rep Shuler, Heath [NC-11] – 6/12/2009
Rep Shuster, Bill [PA-9] – 5/7/2009
Rep Simpson, Michael K. [ID-2] – 4/28/2009
Rep Slaughter, Louise McIntosh [NY-28] – 6/17/2009
Rep Smith, Adam [WA-9] – 4/22/2009
Rep Smith, Adrian [NE-3] – 4/28/2009
Rep Smith, Christopher H. [NJ-4] – 6/15/2009
Rep Smith, Lamar [TX-21] – 4/2/2009
Rep Snyder, Vic [AR-2] – 6/23/2009
Rep Souder, Mark E. [IN-3] – 6/16/2009
Rep Space, Zachary T. [OH-18] – 6/23/2009
Rep Speier, Jackie [CA-12] – 6/11/2009
Rep Spratt, John M., Jr. [SC-5] – 10/13/2009
Rep Stark, Fortney Pete [CA-13] – 3/26/2009
Rep Stearns, Cliff [FL-6] – 3/6/2009
Rep Sullivan, John [OK-1] – 7/8/2009
Rep Sutton, Betty [OH-13] – 10/6/2009
Rep Taylor, Gene [MS-4] – 3/6/2009
Rep Teague, Harry [NM-2] – 6/12/2009
Rep Terry, Lee [NE-2] – 3/30/2009
Rep Thompson, Bennie G. [MS-2] – 7/17/2009
Rep Thompson, Glenn [PA-5] – 4/22/2009
Rep Thornberry, Mac [TX-13] – 5/21/2009
Rep Tiahrt, Todd [KS-4] – 4/28/2009
Rep Tiberi, Patrick J. [OH-12] – 4/28/2009
Rep Tierney, John F. [MA-6] – 7/20/2009
Rep Titus, Dina [NV-3] – 7/14/2009
Rep Tonko, Paul D. [NY-21] – 6/9/2009
Rep Turner, Michael R. [OH-3] – 5/13/2009
Rep Upton, Fred [MI-6] – 4/29/2009
Rep Visclosky, Peter J. [IN-1] – 7/20/2009
Rep Walden, Greg [OR-2] – 5/4/2009
Rep Walz, Timothy J. [MN-1] – 5/7/2009
Rep Wamp, Zach [TN-3] – 3/16/2009
Rep Weiner, Anthony D. [NY-9] – 11/5/2009
Rep Welch, Peter [VT] – 5/21/2009
Rep Westmoreland, Lynn A. [GA-3] – 4/2/2009
Rep Whitfield, Ed [KY-1] – 5/14/2009
Rep Wilson, Joe [SC-2] – 4/29/2009
Rep Wittman, Robert J. [VA-1] – 4/1/2009
Rep Wolf, Frank R. [VA-10] – 6/11/2009
Rep Woolsey, Lynn C. [CA-6] – 2/26/2009
Rep Wu, David [OR-1] – 7/13/2009
Rep Yarmuth, John A. [KY-3] – 7/14/2009
Rep Young, C.W. Bill [FL-10] – 6/3/2009
Rep Young, Don [AK] – 3/6/2009
Step 2: Your Senator
HR 1207’s identical companion bill in the Senate is known as S 604, the Federal Reserve Sunshine Act, sponsored by Sen. Bernie Sanders.
If your Senator is not on the following list of S 604 co-sponsors, call their offices, write to them, email them. Let them know they need to support S 604. If you live in their district, let them know. Go to their office.
Enter your zip code to contact your senators:
S 604 Co-Sponsors
Sen Barrasso, John [WY] – 7/15/2009
Sen Bennett, Robert F. [UT] – 7/15/2009
Sen Boxer, Barbara [CA] – 9/17/2009
Sen Brownback, Sam [KS] – 7/8/2009
Sen Burr, Richard [NC] – 7/9/2009
Sen Cardin, Benjamin L. [MD] – 7/28/2009
Sen Chambliss, Saxby [GA] – 7/8/2009
Sen Coburn, Tom [OK] – 7/20/2009
Sen Cochran, Thad [MS] – 10/1/2009
Sen Cornyn, John [TX] – 7/20/2009
Sen Crapo, Mike [ID] – 6/25/2009
Sen DeMint, Jim [SC] – 6/11/2009
Sen Dorgan, Byron L. [ND] – 9/9/2009
Sen Feingold, Russell D. [WI] – 7/15/2009
Sen Graham, Lindsey [SC] – 7/24/2009
Sen Grassley, Chuck [IA] – 8/3/2009
Sen Harkin, Tom [IA] – 7/20/2009
Sen Hatch, Orrin G. [UT] – 7/24/2009
Sen Hutchison, Kay Bailey [TX] – 7/20/2009
Sen Inhofe, James M. [OK] – 7/9/2009
Sen Isakson, Johnny [GA] – 7/8/2009
Sen Landrieu, Mary L. [LA] – 12/17/2009
Sen Leahy, Patrick J. [VT] – 9/17/2009
Sen Lincoln, Blanche L. [AR] – 7/15/2009
Sen McCain, John [AZ] – 7/15/2009
Sen Murkowski, Lisa [AK] – 9/15/2009
Sen Risch, James E. [ID] – 8/3/2009
Sen Thune, John [SD] – 9/22/2009
Sen Vitter, David [LA] – 6/16/2009
Sen Webb, Jim [VA] – 8/3/2009
Sen Wicker, Roger F. [MS] – 10/1/2009
Sen Wyden, Ron [OR] – 1/28/2010
Here’s a sample letter you can use:
| HR 1207 (House)
Dear Representative, Please co-sponsor and/or support HR 1207, an effort to audit the Federal Reserve. Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going. Currently there are 320 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going. Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it. Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure. Sincerely, |
S 604 (Senate)
Dear Senator, Please co-sponsor and/or support S 604, an effort to audit the Federal Reserve. Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going. Currently there are 32 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going. Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it. Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure. Sincerely, |
Step 3: The People
Tell everyone you know about HR 1207 and S 604 ask them to support the bills and to contact their representative as well. Link to this page and to CampaignForLiberty.com.
Link: http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/
Banner:

<a href=”http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/”>
<img src=”http://www.ronpaul.com/images/audit-the-fed.jpg” width=”290″ height=”127″></a>
Why Audit The Federal Reserve?
Ron Paul’s legislation is aimed at pulling back the curtain from a secretive and unaccountable Federal Reserve. Congress and the American people have minimal, if any, oversight over trillions of dollars that the Fed controls.
With recent bailouts and spending decisions shining a spotlight on the actions of the Federal Reserve, more and more pressure is bearing down on Congress to take action and demand accountability and transparency.
Auditing the Fed is only the first step towards exposing this antiquated insider-run creature to the powerful forces of free-market competition. Once there are viable alternatives to the monopolistic fiat dollar, the Federal Reserve will have to become honest and transparent if it wants to remain in business.
Introducing HR 1207
Ron Paul introduced bill H.R. 1207 on February 26, 2009 with the following speech to Congress:
Madame Speaker,
I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.
Serious discussion of proposals to oversee the Federal Reserve is long overdue. I have been a longtime proponent of more effective oversight and auditing of the Fed, but I was far from the first Congressman to advocate these types of proposals. Esteemed former members of the Banking Committee such as Chairmen Wright Patman and Henry B. Gonzales were outspoken critics of the Fed and its lack of transparency.
Since its inception, the Federal Reserve has always operated in the shadows, without sufficient scrutiny or oversight of its operations. While the conventional excuse is that this is intended to reduce the Fed’s susceptibility to political pressures, the reality is that the Fed acts as a foil for the government. Whenever you question the Fed about the strength of the dollar, they will refer you to the Treasury, and vice versa. The Federal Reserve has, on the one hand, many of the privileges of government agencies, while retaining benefits of private organizations, such as being insulated from Freedom of Information Act requests.
The Federal Reserve can enter into agreements with foreign central banks and foreign governments, and the GAO is prohibited from auditing or even seeing these agreements. Why should a government-established agency, whose police force has federal law enforcement powers, and whose notes have legal tender status in this country, be allowed to enter into agreements with foreign powers and foreign banking institutions with no oversight? Particularly when hundreds of billions of dollars of currency swaps have been announced and implemented, the Fed’s negotiations with the European Central Bank, the Bank of International Settlements, and other institutions should face increased scrutiny, most especially because of their significant effect on foreign policy. If the State Department were able to do this, it would be characterized as a rogue agency and brought to heel, and if a private individual did this he might face prosecution under the Logan Act, yet the Fed avoids both fates.
More importantly, the Fed’s funding facilities and its agreements with the Treasury should be reviewed. The Treasury’s supplementary financing accounts that fund Fed facilities allow the Treasury to funnel money to Wall Street without GAO or Congressional oversight. Additional funding facilities, such as the Primary Dealer Credit Facility and the Term Securities Lending Facility, allow the Fed to keep financial asset prices artificially inflated and subsidize poorly performing financial firms.
The Federal Reserve Transparency Act would eliminate restrictions on GAO audits of the Federal Reserve and open Fed operations to enhanced scrutiny. We hear officials constantly lauding the benefits of transparency and especially bemoaning the opacity of the Fed, its monetary policy, and its funding facilities. By opening all Fed operations to a GAO audit and calling for such an audit to be completed by the end of 2010, the Federal Reserve Transparency Act would achieve much-needed transparency of the Federal Reserve. I urge my colleagues to support this bill.
HR 1207
This is the bill itself, H.R. 1207:
111th Congress – 1st Session
H.R. 1207
A BILL
To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Federal Reserve Transparency Act of 2009″.SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.
(a) IN GENERAL. – Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after “shall audit an agency” and inserting a period.
(b) AUDIT. – Section 714 of title 31, United States Code, is amended by adding at the end the following new subsection:
“(e) AUDIT AND REPORT OF THE FEDERAL RESERVE SYSTEM. -
“(1) IN GENERAL. – The audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) shall be completed before the end of 2010.
“(2) REPORT -
“(A) REQUIRED. – A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, the majority and minority leaders of the Senate, the Chairman and Ranking Member of the committee and each sub-committee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
“(B) CONTENTS. – The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.”.
Ron Paul’s Quotes on HR 1207
In this speech to Congress, Ron Paul refutes Ben Bernanke’s interpretation of HR 1207, the bill to audit the Federal Reserve, and explains why only an audit will protect the public’s interest.
Date: 7/30/2009
Ron Paul: Mr. Speaker, the big guns have lined up against HR 1207, the bill to audit the Federal Reserve. What is it that they are so concerned about? What information are they hiding from the American people? The screed is: transparency is okay except for those things they don’t want to be transparent.
Federal Reserve Chairman Ben Bernanke, argues that HR 1207, the legislation to audit the Federal Reserve, would politicize monetary policy. He claims that monetary policy must remain independent, that is; secret. He ignores history because chairmen of the Federal Reserve in the past, especially when up for reappointment, do their best to accommodate the president with politically driven low interest rates and a bubble economy.
Former Federal Reserve Board Chairman Arthur Burns, when asked about all the inflation he brought about in 1971 before Nixon’s reelection, said that the Fed has to do what the president wants it to do, or it would lose its independence. That about tells you everything.
Not by accident Chairman Burns strongly supported Nixon’s program of wage and price controls the same year, but I guess that’s not political. Is not making secret deals with the likes of Goldman Sachs, international financial institutions, foreign governments and foreign central banks politicizing monetary policy?
Bernanke argues that the knowledge that their discussions and decisions will one day be scrutinized will compromise the freedom of the Open Market Committee to pursue sound policy. If it is sound and honest and serves no special interest, what’s the problem?
He claims that HR 1207 would give power to Congress to affect monetary policy. He dreamt this up to instill fear, an old statist trick to justify government power. HR 1207 does nothing of the sort. He suggested that the day after an FOMC meeting, Congress could send in the GAO to demand an audit of everything said and done. This is hardly the case. The FOMC function under HR 1207 would not change.
The detailed transcripts of the FOMC meetings are released every 5 years, so why would this be so different and what is it that they don’t want the American people to know? Is there something about the transcripts that need to be kept secret, or are the transcripts actually not verbatim?
Fed sycophants argue that an audit would destroy the financial markets’ faith in the Fed. They say this in the midst of the greatest financial crisis in history brought on by none other than the Federal Reserve. In fact, Chairman Bernanke stated on November 14th 2007, “A considerable amount of evidence indicates that Central Bank transparency increases the effectiveness of monetary policy and enhances economic and financial performance”.
They also argue that an audit would hurt the value of the U.S. dollar. In fact, the Fed, in less than a 100 years of its existence, has reduced the value of the 1914 dollar by 96%.
They claim HR 1207 would raise interest rates. How could it? The Fed sets interest rates and the bill doesn’t interfere with monetary policy. Congress would have no say in the matter and besides, Congress likes low interest rates.
It is argued that the Fed wouldn’t be free to raise interest rates if they thought it necessary. But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future. And again, this bill does nothing to allow Congress to interfere with interest rate setting.
Fed supporters claim that they want to protect the public’s interest with their secrecy. But the banks and Wall Streets are the opponents of HR 1207, and the people are for it. Just who best represents the public’s interest?
The real question is: why are Wall Street and the Fed so hysterically opposed to HR 1207? Just what information are they so anxious to keep secret? Only an audit of the Federal Reserve will answer these questions.
Excerpt from Ron Paul’s 4/22/2009 appearance on Judge Andrew Napolitano’s Freedom Watch:
Ron Paul: After we came back yesterday from our 2-week break, I think have 15 new people signed on and somebody came up to me and says, “I signed on your bill this morning because I went to my town hall meetings, I went four of them and in every meeting people were there and say, “It’s time that we have transparency of the Fed.’”
But I call them the Fourth Branch of government. Some people don’t think of them as part of the government because they’re so secretive. But we created it, we can end it, we take no responsibility to supervise it, and look at what they’re doing. We spend hundreds of billions, but the Fed deals in trillions, and they don’t have any responsibility to tell us about it. So there’s a lot of power there and it deserves looking at.
And I think I have to say Barney Frank has been sympathetic with this. He’s for transparency. He’s not for hard money and the type of monetary policy I’m talking about. He believes that we should have more transparency of the Fed, so whether this bill gets passed or something very similar, the mood in the country is such that not only do they want us to be better in handling the appropriated fund and knowing where these TARP funds went, the American people have awakened to this whole idea of what the Federal Reserve does behind the scenes.
So I’m delighted. I’ve been pushing this monetary issue for more than 30 years believing it was THE significant economic issue of our time, and I think people are starting to realize this and we’re going to keep hearing about it and there’s a good chance that it will eventually make it to the floor.
Excerpt from Ron Paul’s 3/5/2009 appearance on Judge Andrew Napolitano’s Freedom Watch:
Judge Napolitano: Before we switch gears, Congressman Paul, how did Ben Bernanke react to the legislation that you introduced calling for an audit of the Fed. Did he give you a call on the phone?
Ron Paul: Oh yes, he called me, wanted to congratulate me and he wanted to support my bill. You know, interestingly, just recently, I cannot name his name but I was talking to a former member of the Federal Reserve board and told him about the bill and he was friendly enough.
I said, “What do you think of that?” He said, “I think it’s not a very good idea”. And I said, “Do the people at the Federal Reserve ever talk about, are concerned about the dollar”. I said, you know, I’m always talking about the dollar and what this is going to do to the dollar. And I said, “Do they know that all this debt and inflation could hurt the dollar?” He says, “Yes, they do.” He confirmed it. He said, “They absolutely do.” He says, “But they can’t answer your questions in public because it would cause panic.”
Judge Napolitano: This administration came to power and we all knew the words that they used, “hope” and “change”. But one of the words that they really used was “transparency”. I would think the President himself should be in favor of transparency at the Fed if he wants to be ideologically consistent. What are they afraid we will find out, Congressman Paul?
Ron Paul: Well, what they’re going to find out is, that’s the first step. Once we get the audit bill passed and we can reveal what they are doing, I think the next step is to end the Fed. That’s why they don’t want that.
You know, we had some very good comments made by our Senator Bernie Sanders yesterday from Vermont. I talked with him this morning and we’re going to be talking a lot about the need for having transparency.
And I think the mood is right. The mood is right both with the Democrats and the Republicans, because they don’t know exactly what is going on but they know the American people are sick and tired of just throwing money out there, whether it’s to the Treasury and nobody knows where it goes, whether they send it to Iraq and nobody knows where the bundles of money go, or whether the Federal Reserve can create 2 trillion dollars, and they don’t even have to tell us.
As a government all onto itself, it’s bigger than the whole U.S. Congress. They create trillions in a day, you know, in a short period of time, and in the Congress we do talk a little bit when we pass 400 million or 800 million. But the Fed is a much bigger problem.
Excerpt from Ron Paul’s 3/10/2009 interview with Alex Jones:
Alex Jones: Every few weeks they come before the banking committee and you bring up the fact that what they are doing is destroying us. What do we need to do to bring the private Federal Reserve under control?
Ron Paul: Well, there has to be an uprising by the people. There has to be enough people who will demand that their Congressmen respond, and that is building. You know, a year or two ago nobody in Washington even thought about the Federal Reserve. Today there is a lot more thinking going on and a lot more support for our position. So it is growing. And yet, we’re not on the verge of changing it. I have the bill to get rid of the Federal Reserve, that’s the major step and the ultimate step and they’ll probably self-destruct before we actually pass legislation.
But the bill that is more important in the short run is the auditing bill, the 1207 bill, because that means they have to start answering our questions. Today they are protected. They are in total secrecy and they are protected by the law. If 1207 is passed we have an audit and they have to answer the questions. And I figure if we ever get that far and get the exposure and get the transparency that we need, then people will wake up and realize, ‘why do we have them at all?’
Alex Jones: Senator Sanders grilled them, as you know, last week saying that he is supporting 1207 or a version in the Senate because, Bernanke, the private Fed chief just said, “I’m not going to tell you where the money, buddy.” I mean, that’s amazing to see our elected Congress, the most powerful branch of the government according to our founders, being told to kiss off.
Ron Paul: Right, and I know Sanders real well. He was on the banking committee with me before he went into the Senate, and I called him after that, and I believe he has now introduced my version of the transparency bill and I’ve introduced his version. So both bills exist. Mine is a little bit more conclusive, in that it removes the total authority for them to not answer questions. His is specifically designed to answer certain questions and reveal where certain trillion dollars went. They are very similar, but somewhat different in nature, so we both support each other’s bill and they’ve been introduced in both chambers.
Alex Jones: Well, public support for this and the majority of the Congress itself are saying they are angry, they don’t know where the money is and Bloomberg sued to find out and he’s been told No on their foyer. If this gets media attention I can see now way that Congress wouldn’t vote for a proper audit of the private Federal Reserve.
Ron Paul: They’re going to, if we can get it that far. It’s a good issue, like so many of our issues, we bring different many factions together, liberals and conservatives, under the constitution. Because, if you’re a good honest liberal like Bernie Sanders, he is an honest person but is very, very liberal. He calls himself a socialist, but he agrees on the transparency issue.
So this whole idea that we expose them to bring populists, libertarians, constitutionals, liberals, socialist all together and think, “If we can’t do this, what’s left of representative government? There’s nothing left.” So it’s a good unifier, I think it’s a great issue.
Promote Audit the Fed

















Posted on the sound money blog and equally applicable here.
_________________________
David
July 28, 2010 at 6:31 pm | Permalink | Reply Report comment Report comment
Okay, well i finally managed to make some time to get on here, and it seems we currently have “Forest” on here whom our banks have sent to us, who seems to be spending 24 / 7 in front of the computer desperately trying to counter each and every anti banking post on here in defense of his beloved banks and not presenting any viable arguments as to how their continued existence could possibly be of benefit to anyone other than themselves, with his single and only follower being “fred the protectionist” LOL. Anyway, here are some of the indisputable facts about banking, which he will try to argue and dispute, but which absolutely anyone with even half an ounce of brains, common sense and reason must acknowledge to be true, despite any cockamamy lies and fairy tales they might try to invent in their defense.
Fact 1;
Banking is not a business, it’s a criminal practice. It is simple theft and fraud, which is made legal simply and only because of the power they have established over our political system to keep it so.
Legitimate business consists of providing another person with something of tangible value that they can actually use, in return for payment, and any means of making money other than this is simple theft and fraud and can be nothing else. Banks make their money by controlling and manipulating the national currency, which is an essential public commodity that doesn’t belong to them in the first place, provide absolutely nothing of any tangible benefit to anyone, and simply exist as parasites on the backs of the people doing so and who are engaged in legitimate business.
Alvie makes some good statements about how they purposely complicate every aspect of the economic system so that no one will be able to understand it and create so much confusion that there’s no possible way for the average person to understand what is being done to them. There is absolutely no need for any form of complication, confusion, or deception in any legitimate business transaction, nor in any legitimate economic system either, but in the case of a thief, fraud and scam artist there certainly is, as the only way he can make money is to steal it from people or deceive them into giving it to him without providing anything in return. In other words, banking.
What does a thief do ? he takes something for nothing from someone against their will. What does a fraud do ? he convinces people to give him something for nothing with a lie. What do banks, or any other form of “financial service” do ? they do both.
Fact 2;
An economy which tolerates any form of banking system is unsustainable.
This is like tolerating a tapeworm in your intestines. If private banks have control of our currency and credit system as they do today, owning our primary means of exchange, introducing currency into the system as debt a progressively removing more than they put in through interest. This enables them to accumulate progressively more and more of the nations wealth, at the expense of those contributing toward its useful production, which also enables them to establish power and control over our political system, buy ownership and control in the corporations they sponsor and kill independent business in competition with them, thus ensuring that all will serve their interests against those of the population which control by this point is pretty much absolute. In the end it becomes necessary to establish a socialist police state, abrogate any and all freedoms for the population in order to maintain the power over them to prevent them from posing a threat to that power, and make the people themselves the property of the state and the banks that control it.
The bottom line here, is that every dollar they make is a dollar made at the expense of the population, and is used to buy ever more ownership and control over the countries wealth and establish ever more political power to the extent where they finally own and control everything, including the people themselves, and by now these are into the multiple trillions per annum with all the mortgage, security and government bailout scams, so its been happening fast. They’ve actually managed to crash the economy 10 years sooner than i or most others would have inticipated, and things can only get worse instead of better under the status quo.
This is the single and only possible and eventual outcome of tolerating a banking system, and is the point we are approaching today as well. If people tolerate the parasite in their intestines, and don’t take measures to kill it and get it out of their system, it will simply keep growing and growing until it consumes so much of their sustenance that they are no longer capable of feeding both it and themselves, just as it already has, and the only possible outcome is that they will not survive. There simply is not and cannot be any other possible outcome. Until now the Banks have done a very good job of lying to people and convincing them that the parasite is an essential part of their systems and that they will die without it, but by now they are sick and weak enough where they are all beginning to realize this is not the case, and i just hope that they can get organized to do what they need to in order to kill the parasite before it destroys them completely, as if they don’t, it certainly will. If so it will be a very simple and easy thing to do, and no matter how sick they are, if they all do it, they can and they will and their health will be very quickly restored. Far beyond anything they have ever experienced too as no one living today has existed without the parasite before.
Fact 3;
Banks are responsible for every single ounce of unnecessary suffering, hardship and misery that has been inflicted on humanity since the existence of banking, which is about 95 % of it as well. The vast majority of populations in this world, are perfectly capable of creating more than enough for themselves, given simply a consistent, reliable and adequate means to facilitate trade with each other and allow them to benefit from each others efforts. Every single economic recession / depression or whatever you want to call them, which has created hardship and poverty and misery for virtually any population has not been due to a lack of their ability to produce and sustain themselves, but due to a lack of that artificial means of trade that they need to trade with each other and do so for
their collective benefit, which each and every time, has been caused by artificial manipulation of that currency by banks in their own interests, with the objective of establishing power to the extent where there will be no trade or sustenance except through them, and in the end creating the socialist police state necessary to secure and maintain that power permanently. We have pretty much every other country in the world as an example of this by now, America is the last one on the list, and its happening here as we speak.
Solution;
Very simple, abolish any form of private banking, and eliminate money as a form of business as it is not, cannot be, and never should have been, as business involves trade of useful goods and services only. Make money serve its only useful function and issue currency and credit as a public service managed by and for the population it is intended to service, where its only possible use is to facilitate and maximize legitimate trade and production for the benefit of the population it serves and establish a very simple, consistent, reliable, common and well regulated system where the money will remain in place and in circulation, and can be further injected as needed in order to pay for the full extent of our full capacity to provide. For the Austrian economists among us, allow competing currencies as well, definitely, which also should be part and parcel of a “free” economy, but we do need a standard and common means of exchange to facilitate efficient trade which can and will always reflect our full production capacity. This is what i want to get paid in when i sell something as this i something with which i can pay anyone else for anything else as well, and if someone wants to save or establish security, then convert to gold, silver or better still some useful, disposable, and tangible asset. Establishing security isn’t the function of money, only facilitating trade, and confusing these functions has been the means to creating a lot of our problems as well.
Can and will this work ? Well this has been the single and only thing in history which has ever been demonstrated to generate any form of abundant prosperity for any country or general population, per: the discussion provided in the following link.
It’s about time the American People force the creation of this for themselves, and take responsibility for doing this by and for themselves, instead of abrogating that responsibility to thieves, cheats and scam artists they can’t trust, as they always have in the past. I’m just very glad that so many are starting to realize this now too. It gives us a chance, and gives the rights and freedoms guaranteed by the great men who established our country and its constitution to a chance to survive as well, so that our lives can once again exist in the pursuit of happiness and not in slavery to a bank.
Anyway, there’s been many things posted on this subject here and on other blogs, but i think one of the best discussions of things and how they could work took place recently at the following link, so anyone who’s curious as to what the potential and possible outcome might be, can go there and read for themselves and the American population. Anyone who has any potentially useful ideas in addition to whats been posted there and elsewhere should contribute them as well, as it will take everyone contributing what they can in order to create a simple, honest, effective, and viable system which will work best toward everyone’s benefit. It has to be done from scratch without retaining any of the theft and fraud that make the current system unsustainable, which basically constitutes the entire current system (we have to scrap the old machine and build a completely new one in its place as there is not a single component on the old one that can be made to function). Then get rid of the current politicians existing in service to and put in power by the banks, and establish a government “by the people, of the people and for the people” to facilitate making it happen.
http://www.ronpaul.com/2010-07-09/majority-of-americans-believe-obama-is-a-socialist/comment-page-3/#comment-115818
The American revolution was organized by the colonial governments which at that point were “by the people, of the people and for the people” and will be again once the power that prevents it from being so is destroyed, and the people supported their effort because it was in their interest. Since we now have government “by the banks, for the banks and of the banks” instead, it will have to be the people themselves who organize and co-operate with each other in the rebellion (economic or otherwise) first, and then re-create such a government as they had at that time to act for their own interest and benefit. They’re angry enough to do it, they know they have to do it, and we need the efforts of absolutely everyone who agrees with this to give them the information (the problems and viable solutions), and the organization in order to do it as well.
As usual and as with everything else, copy paste and forward, get these things into circulation as we need to do. This must piss off Forest, Fred, The other David, and all the other good little communists which our banking industry is sending around to try and defend them, to no end, as were still able to do this because their precious banks haven’t established control over the internet yet to prevent us from doing this, which hence is the source of their fear as well, so lets do it while we still can and before they do. There is absolutely nothing they can do about it either, except to bitch, complain, lie and criticize, and i absolutely love that LOL.
Lets get it done and soon too. I don’t want to be dealing with this, i’m sick and tired of having to deal with this, but we do need to be dealing with this and keep on dealing with this until we can kill the problem before it kills us. Then we can get back to spending our lives doing something fun, productive and useful for our own and everyone else’s benefit as well. We simply have no other option.
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Somebody has been reading modern money mechanic. Cool.
So what happened to Executive Order 11110?
Executive Order 11110 AMENDMENT OF EXECUTIVE ORDER NO. 10289
AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY
By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows:
Section 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended-
By adding at the end of paragraph 1 thereof the following subparagraph (j):
(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12,1933, as amended (31 U.S.C.821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denomination of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption
and —
By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
Sec. 2. The amendments made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.
John F. Kennedy The White House, June 4, 1963
Isn’t it still on the books?
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Would you let your neighbor steal from you,then loan this money back to at interest and then be greatful for being shafted?
Well this is what the fractional reserve system of banking does to all people on this planet.The fractional reserve system of banking allows banks to create 9 times the amount of money in the form of loans, as they have deposits in their accounts.Some of this new money ends up in bank accounts thus creating more inflation.
Prior 2008 the yearly average inflation rate was 3.5%. Inflation compounds like interest, so that every 10 yrs you lose 41% of the value of your currency.Who creates all this new money?If individuals do it,it is called counterfeiting.Today banks do it in their computers and create it as debt to be loaned at interest.Banks steal by devaluing our currencies though inflation.
Ron Paul has noted that since the inception of the US Fed in 1913,the US $ in 96 yrs has lost 96% of its value.Here we see the compounding effects of inflation via the frational reserve banking system.The US Fed over 96 yrs has diluted the value of the dollar by 25 times.You can see why they are so powerful and rich, while many Americans languish in poverty.
Money has no intrinsic worth.It represents the productivity of people.By letting international banksters create your money,they then own your productivity which they then loan back to you at interest.This is why there is so much debt.
Also,as cash was replaced by credit cards,our Govts create very little currency thus giving more of our productivity to the banksters to given back to us as debt.
There are a few ways to stop this theft by stealth.Put a tax on the fractional reserve system of banking,or get your own national banks owned by the people,or go to a precious metal based currency.
The US currency should be owned by the US Govt ,not a private goup of banks called the US Federal Reserve.
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Absolutely wonderful Ross, and your speaking my mind as well as that of the American People.
http://www.ronpaul.com/on-the-issues/fiat-money-inflation-federal-reserve/comment-page-10/#comment-120378
That’s my latest on the subject and yours is identical as well.
Forrest, Fred, The Other David and all of the other stupid little dweebs and sycophants whom our banking system has sent here to try to defend them, read it and weep, and then get out of America as fast as you can before we “Real Mericans” as you call us, start rounding you up, seizing your assets, and putting you on trial for your treason against us.
Ross, get on the sound money blog and help us make this happen, its good to have you with us
Everyone else, copy, paste and forward Ross’s post to everyone and anyone you can, get it into circulation where it can work for us.
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Might have gone differently, if I had been asked to testify, based on my real expertise on the subject. I am now writing a book on the subject for MIT Press. It will be available in late 2011. The book title in the contract with MIT Press is “Getting it Wrong: How Faulty Monetary Statistics Undermine the Fed.” Oxford University Press and Cambridge University Press also wanted the book, but I’ve signed the contract with MIT Press. I was on the staff of the Federal Reserve Board for 8 years, am a leading authority on economic measurement, and have written on the subject in the New York Times and extensively in professional publications, including over 130 journal articles and 20 books. Expertise is not relevant to the Congress in making its decisions?
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So, our dollar is NOT worthless since the paper, ink, and process costs a bit more per article. Glad you agree.
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Touche’, you arse. lol, and sure, we use it for trade. We can “buy” milk and such with it but, it really has no “value” backing it. Only what the FED tricks us to think it is worth.
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Them tricky jewish FEDS, always up to no good.
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Our dollar is not worthless. It is and always will be worth the paper it’s printed on.
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Sorry, it’s not. A dollar is worth around twenty-something cents. The paper, ink, and process costs a bit more per article. You could say; it literally IS worthless. (Say, twenty something pennies, before stamped out of steel, are worth more than the almighty buck.).
On top of that, the Federal Reserve Note is NOT a “dollar” to begin with. Not by any definition but, only by slang.
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Could you say then, that some folks are working 2-3 jobs for nothing? that our homes are worth way way way less than we think they are? that our value as far as our paycheck is concerned is way way way less than we think it is?
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Well actually Christine, my dear, yes.
For argument’s sake, for that matter; who’s home? (referring to home values) If you look at your mortgage agreement, it most likely reads you are a tenant. I would think that would mean that it isn’t “your” home. You only “rent” it? How could that be? To go further, what is property tax? It certainly isn’t apportioned. So it isn’t “constitutional”? It is a permanent, government lien isn’t it? How can the gov. have a lien on your home, if you “own” it?
Don’t forget now, there is certainly a difference between “property” and “real estate” as well. Banks foreclose on “real estate” and swindle the owner out of the property.
Get to the root of all this crap; “THERE IS NO MONEY”. It hasn’t existed for almost ninety years.
That is the whole reason why “audit the fed” failed. I’d have loved to have seen it succeed however, it would reveal the truth. As you must know by now, a foreign entity holds America in receivership. Our labor, our taxes, our “money” has been pledged to keep the lie alive and well.
If Ron Paul actually became president, he is only to be the administrator (note; “administration”?) for the bankruptcy. We be broke and we perpetuate a lie that the Fed and IMF use to trade with what were once other sovereign countries. Once they foolishly accept the FED NOTE, it’s all down hill from there. If they don’t take the FED NOTE, we start wars with them.
A lot of other countries are trying to get away from the FED NOTE because they realize it has no backing but, it’s too late, they are already whoring it.
Wait till people find out that they can’t own gold! hahahaha, that’ll suck. All those investments,? all those investments, gonzo, and, now that gold sellers are going to have to 1099 you if you buy physical gold, the gov. will know where to go to confiscate it.
Remember that whole “don’t have or use a social security number non-sense”? Just like a driver’s license, you can only be guilty of speeding if you have one. You are a fed employee if you have a SS and, you cannot have gold, it was confiscated by executive order and, will be again. You SS number registered it as an asset of the gov. for receivership.
I’ll bet Larry can clarify it better…….I’m four Heinekens into my evening and am ranting. I have some lightning bugs to catch with my kids.
“Forgive them not. For they know what they do.”
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Nearly everything that the gov’t is doing now is under the foreign commerce clause. Most people are of the opinion that the gov’t is trampling on the Constitution by passing laws for which the gov’t has no jurisdiction, but it’s just the opposite. The gov’t is quite aware of its limited jurisdiction.
When the gov’t was bankrupted (title 11 USC, “Bankruptcy”, is implemented by title 11 CFR, “Federal Elections”, so you are simply voting for a bankruptcy “administration”) in the 1930’s there was still more needed to make an American pay the interest on the FED’s funny money loans to the gov’t.
Social Security was created to destroy American sovereignty. The “Form SS-5″ is an employment form. You became a federal employee by applying for a S.S.#. You’ve heard the name of the federal employee a thousand times – the “taxpayer”. “Taxpayer” is a legal term defined at 26 CFR 2.1-1(a)(5) as a member of the Merchant Marine.
By checking the box labeled “U.S. citizen” you gave the gov’t prima facie evidence that you have U.S. possession citizenship. “U.S. citizen” is also a legal term exemplified at 26 CFR 25.2501-1(c) as a person born in one of the States who then establishes a residence in a U.S. possession (Puerto Rico is used in the example) and, further, acquires U.S. possession citizenship (this is the 14th Amendment citizen).
The U.S. possessions are treated as foreign countries in the Code (see 26 U.S.C. section 865(i)(3), section 872(b)(7), and section 2014(g) for examples) so a “U.S. citizen” is a foreigner.
The combination of the legal terms “taxpayer” and “U.S. citizen” is another legal term – the “U.S. resident”.
So by an American applying for a S.S.# all sovereignty has been unknowingly waived.
FICA and the self-employment taxes are U.S. possession taxes (title 26 USC sec. 7655).
Your school property taxes are directed to “Resident”. A sovereign American can not be taxed on his own property, but a foreigner can be taxed.
The Census Bureau questionnaire was addressed to “RESIDENT”. The Census Bureau is within the Dept of Commerce. Title 15 USC, “Commerce and Trade”, is implemented by title 15 CFR, “Commerce and Foreign Trade”.
The gov’t has been granted jurisdiction at Article I, section 8 over foreign commerce, interstate commerce, and trade with the Indians. The gov’t has been granted jurisdiction over its own possessions at Article IV, section 3.
A “U.S. resident” is a total slave “legally”.
Internal revenue is a subset of the customs. Customs gains revenue for the gov’t from importing duties from foreign countries. Internal revenue gains revenue for the gov’t from importing duties from the U.S. possessions – thus a source of “internal revenue”. The income tax only applies to collectors/assessors of “internal duties”. The Supreme Court ruled (Brushaber v. Union Pacific, Stanton v. Baltic Mining, Peck v. Lowe, etc.) that the gov’t always had the power to tax income and, further, that no new taxing power was granted to the gov’t by the 16th Amendment. Put both of these together – always had the power and no new power granted – means that the income being taxed must be within the gov’t’s already existing jurisdiction – it’s foreign commerce.
Title 28 USC, “Judiciary and Judicial Procedure”, chapter 85, “District courts; jurisdiction”, lists the three commerce jurisdictions separately. The cite to section 1336, “Surface Board Transportation orders”, which was renamed from “Interstate Commerce Commission’s orders” in 1995, is the interstate commerce part of the commerce clause. The cite to section 1362, “Indian tribes”, is obviously the trade with the Indians part of the commerce clause. The cite to section 1340, “Internal revenue; customs duties” is the foreign commerce part of the commerce clause. The free, sovereign American has no nexus with the Federal government’s commerce jurisdiction.
Go to LLSTULER.wordpress.com to see much more including evidence of docket tampering by the federal courts in order to avoid ruling on my brief that challenged the sufficiency of the IRS indictment – the hidden charge within an IRS indictment is that of being a “resident”. (This tampering is at http://wp.me/pCW6e-3g ).
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Thanks Larry.
No, I hadn’t ordered your book yet about the Mississippi, by the way. On my list tho.
Just got a reply post from;
http://www.ronpaul.com/2009-07-21/poll-should-congress-abolish-the-federal-reserve/
That was a blast from the past. Same stuff we were posting about last year. Check it out LLSTULER, care to comment on how to buy the rights back to our banking? Will they accept Fed Notes or does it have to be in gold?
Thanks administrator for leaving those posts there.
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No what is even funnier tho,? Not many people filed a SS-5 form so, they are slaves by presumption. Not by their own signature but, only by ignorance or denial.
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This is a great discussion.
Rakko, simple statement which has motivated some great responses. Hehehehe, i guess once the paper is printed on it can’t be used for anything else, so is the paper then worthless or is it still worth the value of the paper ? i don’t know LOL
Chris, your perception of currency is exactly what it is, simply and only an artificial means of exchange with no intrinsic value, which should exist simply and only to facilitate trade between a wide range of people and allow them to benefit from the goods and services that each of them create, and instead exists to buy power for banks and allow them to progressively accumulate ever more of a countries, and the worlds wealth until they have it all and there is nothing left for anyone else, which is the point we are reaching now.
Christine, good questions, motivating a great response from Chris, which is a very simple and accurate definition of the way things really are that anyone could understand. Keep up the rants Chris, this stuff is valuable and if we can get enough things like this into circulation among the general population and often enough, that they can figure these things out for themselves, then maybe we can also motivate the mass public action that we need in order to kill the threat and the problem before it kills us. If we don’t, it will.
Larry, thanks for posting the details backing all of this up.
Keep it going and everyone else, copy paste and email this stuff to everyone you know and ask them to forward it on. Lets get it into circulation so it can start working.
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The one thing that must be understood by everyone is that the gov’t and the courts are bound by the Constitution. When you get involved in a court action, it is the underlying law that is the basis. The gov’t and courts are playing word games (U.S. citizen, taxpayer, U.S. resident, etc. – see http://wp.me/pCW6e-3g for details) which have all the necessary connections to the underlying jurisdiction. The gov’t has jurisdiction over commerce in the foreign and interstate and Indian venues – Article I, section 8 of the Constitution. The gov’t owns its possessions – Article IV, section 3. And the gov’t has jurisdiction over its own employees.
The income tax is a tax on the gov’t’s collectors/assessors of “internal duties”, which has now morphed (the Prohibition and its preplanned end) into the collection of importing duties within the possessions (the liqour laws were moved to the possessions after the Prohibition). See http://wp.me/pCW6e-4A for the actual Act of Congress that established the income tax.
By applying (or as Chris has stated, by simply being assigned – I think that the gov’t tells new parents that they must apply for a S.S.# for any kid that they want to claim as a dependent) for a S.S.#, an American is now within the jurisdiction of the U.S. gov’t possession jurisdiction (by being considered a “U.S. citizen” with U.S. possession citizenship), the jurisdiction of foreign commerce (by being a “U.S. resident”, a “U.S. citizen” living in America), and the jurisdiction of being a federal employee (in the Merchant Marine – this is an extension of the War of 1812 where our merchant marine were being impressed into service for England).
So what I’ve done is gone back into the legislative history and found the underlying Act of Congress that is the basis of nearly everything the gov’t is relying upon for its regulatory agencies. The Act of Congress approved on March 3, 1791, initiated “internal duties” in the U.S. It is the law that caused the Whiskey Rebellion – a tax on stills and the stills’ distillate. This is an unconstitutional Act because it lays a tax on intrastate commerce. This Act declared that these “internal duties” would be collected in the same manner and by the same people as those previously assigned to collect revenue in the importing taxes – the customs. This is why “internal revenue” is a subset of the customs. Without this law that initiated “internal duties”, there could be no income tax on the collectors/assessors of “internal duties”. Without an income tax, there could be no Social Security. Without this law there would be no gateway to foreign commerce in the surreptitious manner that the gov’t has used for over 200 years.
I have challenged the constitutionality of this Act of Congress in a counterclaim that I made in my response to the gov’t’s complaint against me (I had five counts in the counterclaim, but the first count was just the challenge to constitutionality). The District Court told the gov’t that it had to respond immediately since this was not a suit against the gov’t (the gov’t gets to respond in 60 days in a suit action). However, the gov’t had no way to get around a constitutional challenge and so pleaded that I could not sue the gov’t. Since the original judge had already ruled that it wasn’t a suit, the chief judge had to step in to rule in the gov’t’s favor. The court failed to do its most solemn duty.
I then filed an interlocutory appeal since the District Court failed to do its sworn duty. The Appellate Court should have simply treated this interlocutory appeal as a mandamus and told the District Court to do its job, but instead eventually ruled that they did not have jurisdiction to take an interlocutory appeal.
After the courts sat on everything for another 7 months, the court finally ruled against me in a decision that simply denies the law. I now realize that they (the courts and the Dept of Justice) conspired against me in order to try to deny me my right of appeal. I am now trying to get them to issue the briefing schedule in my appeal. They all know that once the briefing schedule is issued that I will challenge the constitutionality directly.
Once this is publicized enough a true sea change will occur. Without this Act of Congress that established “internal duties”, there will be no federal regulatory agencies with any jurisdiction over a sovereign American.
Needless to say, I’m not popular with the Dept of Justice or the courts. But the law is on my side and its time for everything to come out into the open.
Again, if I’m not simply preaching to the choir, go to LLSTULER.wordpress.com to see the entire scam.
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Chrisballs,
You asked about how to buy our rights back to banking. This referenced back to the “abolish the FED” comments. I spent some time reading those comments, most of which were yours – you’ve done a lot of thinking and studying.
I hadn’t really thought about this issue, since I’m attacking the Social Security scam and I’m challenging the constitutionality of the Act of Congress that established “internal duties” in the U.S. (March 3, 1791).
Here’s my first take on the issue. The entire federal gov’t bankruptcy is a fraud since the gov’t received nothing of any intrinsic value. Seems we need to just say “No” to the debt since it’s all based upon counterfeit money.
Once enough people realize that applying for a S.S.# made them into federal employees (the “taxpayer” – a member of the Merchant Marine still being impressed into service for Great Britain) we simply quit the game. Without Social Security creating “taxpayers” to pay the interest on the counterfeit money loans, the FED would collapse.
Once the courts have to sit in judicial review of the Act of Congress that initiated “internal duties”, there would be ATF or IRS. (The tax on liquor is an unconstitutional tax since it taxes an intrastate commerce activity). The ATF and IRS would be exposed as being part of the Customs Service and, therefore, operating surreptitiously under foreign commerce.
Once everyone realizes what it means to be an American and the word games being employed by the gov’t (“taxpayer”, “U.S. citizen”, “U.S. resident”) we would automatically take back control of Congress.
I think that is now just a numbers game. All Americans need to stand up and take back their sovereignty. The gov’t’s actions all reveal that it knows precisely the limited extent of its powers.
If anyone else is reading this, then you can see all the actual laws that evidence everything above at LLSTULER.wordpress.com (and much, much more).
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I can’t tell you, however maybe you already realize, how many people kick and scream at any of this. Complete denial even with documented proof in the government’s own short hand.
“Teaching” people the truth is very difficult. Wanna piss some one off,? lie to them. Want to really piss them off,? tell the truth.
As far as the constitutionality of anything, the constitution must first apply.
As you reveal; we are not party to the constitution or the Bill of Rights as a Merchant Marine (supposedly not party the the constitution at all but, another post…). You cannot pretend that the documents support you. As “un-constitutional” as the Social Security scam is, it doesn’t need to be otherwise. Those who participate in it willfully disregarded the constitution (albiet, unknowingly) and aligned them selves with a foreign power. It is as simple to understand as some one converting religions.
SS isn’t constitutional and the “government” that brought it to life wasn’t either so, in reality, you really can’t petition the gov. about the constitutionality of SS if you participate in it. It’s no more constitutionally bound than you are at that point. If you don’t participate then, you have no need to petition any one about it.
Similar to this, if I hadn’t bothered any one yet about it; Obama is NOT a president. Not only is he not qualified for this position (In my opinion, you know, Kenyan and all….lol. The debate rages on tho..) but factually, he wasn’t elected as “president”. Again, as you reveal; it is a bankruptcy administration.
To the point; people trying to file suit against the gov. and Obama, contending that he can’t be president are wasting their time because, the obvious, he’s not. He is not a constitutional president therefore, any constitutional remedy you try to apply is without any merit.
Like picketing Ford in front of a Toyota plant.
He’s a symptom. Diagnose the disease.
Which, by the way, if you stay “constitutional”, even if Barry was born in Hawaii, he still, constitutionally, couldn’t be pres.
A functioning, constitutional government was not operating when Hawaii was inducted, Alaska neither. Ergo, Alaska and Hawaii did not get inducted into the Union “constitutionally” and are not part of the united states for/of America or, the union states. So he couldn’t be a natural, qualified “citizen” even so.
Now, to the banksters; our CG (constitutional government) couldn’t sell us into slavery (damn that constitution) however, the slick willys created the DoC to do business and be a NCG (non-constit……). The NCG doesn’t have to adhere to the constitution but, as you point out, they have to be weary of what they reveal about how they operate. Someone might catch on.
That brings me to the amazing realization that people in general, and the people in government, both, have lost so much sense of what’s going on. The people are believing what the gov. tells them, more and more, through indoctrination and propaganda but, in the same realm, the people in government committing the crimes don’t even really know what they are protecting (other than themselves) or lying about any more. So, they dance, brazenly close to constitutional lines. If you are paying attention, they cross it quite a bit. It just seems that no voice is getting it out, the truth is suppressed, the media is controlled and people are medicated. It very sad but, really funny at this point.
Ah, but it gets even better, the “administration” is responsible for any debt it incurs. NOT the people. In plain language, any deficit increase by direction of any administration is THIER debt increase and they are required to “re-pay” it.
That’ll fall under the research lines of buying our banking rights back. It’s in the contracts. the NCG DID get something in return, from the banks, not unlike what we get from SS.
The NCG not the CG made the deal with the banks so, right out the gate, the whole transaction was unconstitutional and treasonous but, only if it was forced on free people. Well, as you know, it wasn’t “forced”. Maybe people were persuaded but, they did have a choice. Now for that reminder, it wasn’t done by the CG, who’s members would have swung by a rope until dead, it was done by the NCG, or, if it’s easy to equate; it was done by the constitutional government’s “STRAWMAN”. The CG cannot be held accountable (as there isn’t one functioning anyway) so, in turn, you can not petition the constitutionality of something to someone who isn’t required to operate by it. You waste your time and the only result is frustration because all the NCG members do is run you around from the truth.
I guess it’s like a traffic violation; when you argue the ticket, you engaged the machine and are now under jurisdiction but, if you argue jurisdiction of the machine first, you never get to the ticket as it cannot be connected to you.
Only thing we as people can do is organize and separate from the NCG franchises and contracts. Teach.
I’m thinking that all that can be done is, somehow elect a constitutional president. People who are Americans and not registered to vote and who do not have SS or gov. franchise participation will need to do this. The only one who will recognize this, at first, will be the military.
A constitutional president immediately inherits the powers of any office that has sworn an oath to protect the constitution and the people but, keep in mind, they protect “people”, NOT “persons”/”corporations”.
If that could be done, then the power to incriminate upon treason would be great. The very moment the militaries recognized a constitutional president….talk about sh*t hitting the fan.
What ever day that is will be the new Independence Day.
Woo-Hoo, this was fun! It’s hot out….going for a cold beer. Maybe I’ll see Obama and we can have a “summit”…..what a loser….
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What if we don’t have any Gold in Fort Knox?
We have to ask this question.
Has anyone seen the Gold?
If the US and the World find out we dont have any gold, Then what happens after our dollar is worthless?
Does anyone know?
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Yes it is true. The ones who are of a self proclaimed Divine right control everything.
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This is really good Douglas, in one sentence you’ve described the current situation exactly and these parasites (America’s Banks), who contribute absolutely nothing to anyone’s benefit do consider it their self proclaimed divine right to rule over everyone and everything. They have just about managed to establish the power in this country to do this as well, just as they already have in the rest of the world, and they consider the sole purpose of each and every person in this world to be to serve them.
Let’s define the power mentality then, and what motivates a person to proclaim for themselves a divine right to rule and control everything. I already posted this statement on the sound money blog in a discussion i was having with our friend Christine, but here goes again. People really need to understand exactly what these people are, what motivates them, and the incredible evil they are capable of. Unfortunately very few good or decent people are capable of understanding this, and they simply don’t have the capacity to think like them, and lacking any close personal experience with someone like this, they make the mistake of assuming that their motivations are something that they themselves would understand.
There are two words in German which divide all of humanity into two categories and everyone belongs to one of the two. There is “Ubermensch” (more than human), which defines a person who enjoys seeing others, including themselves, happy and successful, and there are “Untermensch” (less than human), which defines a person who enjoys inflicting control, hardship, suffering, and misery on others simply and only because it makes them FEEL powerful.
Every banker and every politician in their service falls into the latter category, this is what they are, this is how they think and they are not human, but rather rabid animals which need to be destroyed before they destroy everyone and everything in their path. Period !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Each and every one of these people, is motivated by one single and only thing, and this is an insane, all consuming, absolute and compulsive craving for power. The single and only motivation for this craving is envy, and the simple fact that these people absolutely cannot stand to see anyone happy and successful other than themselves, and when they do, this simply keeps eating away at them and makes them crave the power and control that they need on order to ensure that they cannot be so, and this is the single and only purpose that any form of power can serve as well.
In order to put this in a context that everyone can understand, and i cant speak from a woman’s perspective on this, but this is certainly something that every man and adolescent boy can relate too, but this craving, this obsession, could be compared to that of sex and a 14 year old boy, in that until he actually experiences it for the first time, and realizes that the world will still be the same the following day as it was the day before, pretty much all of his thoughts will be motivated by this curiosity and most of his efforts will be directed towards obtaining the experience. I guess the only real difference, aside from the fact that the former is natural and relatively harmless, is that the power craving never can be satisfied, and the more of it that they obtain and experience and the more harm they can bring to those around them, the more power and the more destruction they crave and they simply continue to live their lives in pursuit of this horrible compulsion which can never be satisfied.
There is absolutely no sensible, reasonable, rational nor logical reason for such a thing as envy to exist, nor any sensible, reasonable, rational nor logical reason for any person to have any desire to establish any form of power or control over someone else’s life. As long as each of us is free to live our lives as we choose and accomplish the things we need to in order to make them a good and worthwhile thing, for what reason would we want to deny this right to someone else ?. There is no reason for anyone to want to do this, and although 100 % of whatever intelligence and reasoning capacity these people have is directed toward trying to justify their craving for power and their need to bring harm to the people around them and deny them these basic and natural freedoms, the single and only motivation behind every single one of their words and actions, is completely, totally and absolutely insane, and often to the extent where people so motivated will destroy themselves in order to try and satisfy this craving.
What we are dealing with, would be best compared to a pack of rabid dogs, foaming at the mouth and desperately looking for anything they can attack, and the unfortunate thing is that, just as you say, the rabies in this case doesn’t actually kill them but is passed on to their offspring through their bloodline. This disease, this insanity, is what is responsible for each and every evil thing which has ever befallen humanity throughout the course of human history, and unless those possessed by this disease and this insanity are dealt with in the necessary fashion, just as one must deal with a rabid dog, then it can only continue to spread until it consumes the entire world and there is nothing left which has not become infected.
It really is a simple thing, and they leave us no choice, at least not if we wish anything but the disease to survive. I guess that the difficulty will be that those of us who may feel any form of love or compassion for the rabid animal, will have to overcome that love and compassion with reason to the extent that it will enable them to destroy it, as if they do not, it will go on to destroy all the other animals as well. For some it may be difficult to do, but it must be done, and it is the single and only sensible, reasonable, rational and logical course of action which is open to us at this point.
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Anyway, this is what we are dealing with, and there is no political solution to destroying this power, so if we cannot manage to organize the American population to act collectively to destroy it themselves while they still can, it will destroy us instead, and within a very short time too.
I’m going to ask the same thing of all of the people who read this and agree as i’ve asked of them on many of the other blogs on here. Please log onto the “Sound Money” blog on this website:
http://www.ronpaul.com/on-the-issues/fiat-money-inflation-federal-reserve/
This matter has been discussed to death there and the problems, causes and potential solutions have been posted, a great many times. I’ll ask that you start scrolling through the posts there, and go way back as well as there’s been a lot of good information being posted for a long time already, and start copy / pasting everything that you find that you understand and agree with into emails, and forward them to everyone on your email list and ask them to do the same. If we can get lots of this information circulating and into the hands of the entire population repeatedly in order to get their attention and make them understand what needs to be done, then we can propose a course of action that they can all act on together which will accomplish this as well. I can’t do it myself, neither can anyone else, but if everyone here helps us do this then we will make it happen, and save ourselves, all of them, and America in the process.
Again, thanks everyone.
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Great Scott… Families, accusations and history – all comes to a boil.
A bigger problem? Could there be an alliance between famillies that own the military industrial monopoly and famillies that own the Banking monoply… ? Was this problem out of control with the Empire Building Bush Republicans? Do a few elite famillies now control the empire building alliance that now controls both Republican and Democratic Parties. Are they taking America into poverty?
Lets do the homework. Names, dates, and events can illuminate and then remove corrupt decision making members of our monolpistic enterprises… includes; government, business, military, non profits, and institutions.
A few private banking families now own a monopoly to produce and manage our currency. Kennedy and Lincoln both agreed with Ron Paul, that we should always own and manage our own currency. This requires us to end the corrupt Federal Reserve System. Empire builders will fight back.
Readers, surfers, and bloggers, bring your heat now. Do some homework and post comments here and on the front page of http://www.FreeWebPress.com – Democrats, Republicans and the media must fire their corrupt maniacal empire building decision makers. Ron Paul is fighting to reform the Republican Party… he wants to save America from their monoploies and their empire building. He wants to stop endless wars that profit our military industrial monopolies. Who now can we find to reform the Democratic Party ? The Free Web Press is asking this question ? – Mike Jaeger Live -
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[...] On November 19, 2009, the House of Representatives Financial Services Committee passed Rep. Ron Paul’s and Rep. Alan Grayson’s initiative to audit the Federal Reserve. This initiative basically calls for the Government Accounting Office to audit the Fed’s balance sheets, credit facilities, securities purchase programs and similar items. The initiative specifically states that nothing in it shall be construed as interference in or dictation of monetary policy by Congress or the Government Accounting Office. http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/ [...]
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[...] RAPPAPORT: That’s right, and that leaves the Fed, and of course, Ron Paul’s bill, which has been thoroughly [...]
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[...] On June 30, 2010, the GOP introduced Ron Paul’s Audit the Fed bill as a motion to recommit, which was the last chance to alter the financial regulation bill. Audit the Fed failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 114 co-sponsors of HR 1207, all Democrats, jumped ship and voted against Audit the Fed. Read more… [...]
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