Audit the Federal Reserve

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You are viewing the 2009/2010 version of the Audit the Fed page. Please click here for the 2011/2012 version or read on for the amazing history of Ron Paul’s efforts to bring transparency to the secretive banking cartel.

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 and 2010 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 had 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
Akin
Alexander
Austria
Bachmann
Bachus
Barrett (SC)
Bartlett
Barton (TX)
Biggert
Bilbray
Bilirakis
Blackburn
Blunt
Boehner
Bonner
Bono Mack
Boozman

Boucher
Boustany
Brady (TX)
Broun (GA)
Brown (SC)
Brown-Waite, Ginny
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp
Campbell
Cantor
Cao
Capito

Carney
Carter
Cassidy
Castle
Chaffetz
Childers
Coble
Coffman (CO)
Cole
Conaway
Crenshaw

Critz
Culberson
Davis (KY)
Dent
Diaz-Balart, L.
Diaz-Balart, M.
Djou
Dreier
Duncan

Edwards (TX)
Ehlers
Emerson
Fallin
Flake
Fleming
Forbes
Fortenberry
Foxx
Franks (AZ)
Frelinghuysen
Gallegly

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
Adler (NJ)
Altmire

Andrews
Arcuri
Baca
Baird
Baldwin
Barrow

Bean
Becerra
Berkley
Berman
Berry
Bishop (GA)
Bishop (NY)

Blumenauer
Boccieri
Boren
Boswell
Boyd

Brady (PA)
Braley (IA)
Bright
Brown, Corrine

Butterfield
Capps
Capuano
Cardoza
Carnahan
Carson (IN)
Castor (FL)
Chandler
Chu

Clarke
Clay
Cleaver
Clyburn
Cohen
Connolly (VA)
Conyers
Cooper
Costa
Costello
Courtney
Crowley
Cuellar
Cummings
Dahlkemper
Davis (AL)
Davis (CA)
Davis (IL)
Davis (TN)
DeFazio

DeGette
Delahunt
DeLauro
Deutch
Dicks
Dingell
Doggett
Donnelly (IN)
Doyle
Driehaus
Edwards (MD)

Ellison
Ellsworth
Engel
Eshoo
Etheridge
Farr
Fattah
Filner
Foster
Frank (MA)
Fudge
Garamendi

Gonzalez
Gordon (TN)
Green, Al
Green, Gene
Grijalva
Gutierrez
Hall (NY)
Halvorson
Hare
Harman

Hastings (FL)
Heinrich
Herseth Sandlin
Higgins
Hill

Himes
Hinchey
Hinojosa
Hirono
Holden

Holt
Honda
Hoyer
Inslee
Isra-el
Jackson (IL)
Jackson Lee (TX)
Johnson (GA)
Johnson, E. B.
Kagen

Kanjorski
Kaptur
Kennedy
Kildee
Kilpatrick (MI)

Kilroy
Kind
Kissell
Klein (FL)
Kosmas
Kucinich
Langevin

Larsen (WA)
Larson (CT)
Lee (CA)
Levin
Lewis (GA)
Loebsack
Lofgren, Zoe

Lowey
Luján
Lynch
Maffei
Maloney
Markey (MA)
Marshall
Matheson
Matsui
McCarthy (NY)
McCollum
McDermott
McGovern

McMahon
Meek (FL)
Meeks (NY)
Melancon
Michaud
Miller (NC)

Miller, George
Mollohan
Moore (KS)
Moore (WI)
Moran (VA)
Murphy (CT)
Murphy (NY)
Murphy, Patrick
Nadler (NY)

Napolitano
Neal (MA)
Oberstar
Obey
Olver
Ortiz
Owens
Pallone
Pascrell
Pastor (AZ)
Payne
Perlmutter

Peters
Peterson
Pingree (ME)
Polis (CO)

Pomeroy
Price (NC)
Quigley
Rahall
Rangel
Reyes
Richardson
Rodriguez

Rothman (NJ)
Roybal-Allard
Ruppersberger
Rush
Ryan (OH)
Salazar

Sánchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schauer
Schiff
Schrader

Schwartz
Scott (GA)
Scott (VA)
Serrano
Sestak
Shea-Porter
Sherman
Shuler

Sires
Slaughter
Smith (WA)
Snyder
Speier
Spratt
Stark

Stupak
Sutton
Tanner
Thompson (CA)
Thompson (MS)
Tierney
Tonko

Towns
Tsongas
Van Hollen
Velázquez
Visclosky
Walz

Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch

Wilson (OH)
Wu
Yarmuth

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.

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.

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

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/

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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.

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1,937 responses to “Audit the Federal Reserve”

  1. Ron

    Have any of you ever heard of the John Birch Society?They have been warning about the New World Order for decades.

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    1. FBG

      Yes, but John Birchers are a little bit fanatical about some things.

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      1. Terry Hamel

        I dare you to prove the JBS is “fanatical”, even “a little bit”. What they are is lawful, Constitutional Americans who expose the lies, corruption, and deceit of the globalists – right down to naming names, dates, places, documents, and agenda. No other organization does that to the extent they have since they were founded in the 1950′s. Anyone concerned about the direction of the country would do well to get informed by the JBS.

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        1. Ron

          Exactly. Some people try and say we are “fanatical” too. It’s called principled and constitutional, plus we’re not going to sit around and pretend like the Federal Reserve System is a part of capitalism and the free market. It’s called not being a blind sheep.

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        2. FBG

          OK, I’ll take your word for it.

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  2. Ron
  3. Jim McDonough

    Yes, of course i support Ron Paul in his bill for HR 1207.
    I too shall talk to freinds family associates about a Federal Reserve Transparancy. I’m also gratefull for Mr Pauls loyalty to our country

    Thankyou
    Jim, Boston

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  4. Mike

    So how many co-cosponsors are needed on the bill, and when would it go into the Congress for a vote? Just curious. Thanks.

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  5. Carol B.

    Read Richard C. Cook’s Credit as a Public Utility and go to his website for his new video, coming out today April 2.

    Also visit Ellen Brown’s website “webofdebt.com” and read through her articles.

    William Greider has an article at The Nation, available on line, called “Fix the Fed”, also worth your time to read.

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  6. Mike

    This has got to be one of the best threads EVER America, everyone take care of them selves.

    “Buy a cam-corder and record all the representatives, congressman, and senators, do not trespass, do not break a single law, but by golly catchem in the act and I mean catchem all.
    If there is something fishey that you see put it on you tube for the world to see. Just maybe we can save whats left of this Republic for our children and you and me.”

    HAHAHA….:)

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    1. FBG

      Yer a renaissance man for sure Mike. YouTube could save our Republic; and the people who use it widely.

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  7. Mike

    There is ONE more issue that I would like to lay out on this table, since someone in this thread has mentioned the NEW WORLD ORDER, there is a book that describes this entire plot. From beginning to end. There is tangible evidence to support this book, however there are certain parties of the cover up that do not want this book to be revealed, or the truth exposed that is written in the lines. These individuals have power, money, and servants that work on the scene, behind the scenes, and out in front. Laws were passed that outlawed this book so that people would not learn the truth contained inside. A certain few who were given the task of secureing the future of the NEW WORLD ORDER have done all manner of corrupt deeds to keep the truth in the book from being exposed. Even going so far as to create false information and offer this to the people, a planned and scheduled often covert and sometimes overt operation. Distracting the minds, interfereing with the education of entire nations, and useing all manner of political, media, and entertainment to distract the people from even seeing that a NEW WORLD ORDER could be possible. Changing the words to ONE WOLRD GOVERNMENT, discrediting people who would mention the subject. The book reveals the times, schedules, the events, the causes and the results of this monster. Yet the world will not be given the book. They will not prove them selves capable or worthy of the book. The NEW WORLD ORDER its self would manipulate, persecute, use propaganda, and cause the world to become even more divided than it has already become. This book holds the keys that would remove their self created power and control, it would allow people to recognize the true responsible and guilty individuals for who they really are. Even still this book can not be given, even if the people could accept what is now hidden with in its pages, there would be in short time a fake, a mistranslation, a copy that is slightly altered and the process of division and seperation would begin again and would be even worse than what is now taking place. Can some one find this book? Does it really exsit, did I make all this up? Do some reading think they have an idea about what is written here? Could there really be such a book? Who could have the power to control books? What does history say about books? Is there really ONE book that does these thing? I leave that to your imagination. For that is what we all have received, the truth as we have been told is but someones imagination. Truth itself would not do things this way.

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  8. Mike

    JEN, JEN, JEN,
    We dont need oil. We dont need oil. We dont need oil. We need to stop sucking it out of the earth. Ask the scientists what the purpose of the oil is. Ask your self what oil in your cars motor does and you might figure it out with out asking any one. What is on the worlds mind along with every thing else yes global warming. But dont think the earth need its own oil. Its there for us to BURN UP right. Well global warming, oil consumption, drilling, burning, carbon emmisions, wow, the earth is over heating. DUUUUUU, but no one can think logical anymore. Lost on one of the 10000 different flavors of existance…

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    1. Jan

      From what I have researched on the subject of global warming from NASA’s site and other astronomy sites.
      The EARTH has been tilting its axis, 1 degree a year, for the past 20yrs…….HENCE, the North Pole is now closer to the sun when the earth rotates around it. The earth is now 20 degrees tilted off its axis! Also, the SUN cooled down starting in 2007.
      In fact it was dormant for several years….hence we in the states are getting colder, not warmer. And, the melting of the North Pole ice cap has regained ground. It melted from 13ft to 8ft, now its back to 13ft frozen ocean ice.
      The earth is in alot of danger right now and will be for sometime.
      There are asteriods gallore in outer space, plus all the manmade satilites buzzing around the earth like crazy every day.
      All it would take is one large asteriod or comet to hit the earth and shake us even more off axis and we are doomed anyway.
      However, having said all that..I am all for cleaning up pollution in our air and water. I would like to see the ChemTrails of Aluminum being dumped in our skies for starters.
      I would every municipal water department to buy a Reverse Osmosis machine to filter our water before it gets to our faucets. I would like them to stop the use of Flourisic Acid and Chlorine being put into our bodies via our drinking water. Both are causing disease. Instead they could OZONATE our water and that would do the job.
      All government entities have accumulated large sums of excess taxes which they have put into their DAFR funds, for their own government retirements and healthcare……they need to start using some of that money for the people that they collected it from in the first place. All of our health needs could be met if they would use that money for upgrading the drinking water and states and communities paying for OUR healthcare. The governments need to stop taxing us more and dip into their own CAFR funds to give the people back some of that money.
      Our Government is very rich from the local to the federal governments……..check out your own community and states, unaudited CAFR funds……for your selves and you will see it under their yearly budget. You don’t hear them saying they have lost any of their retirement do you???? Governments do not invest in stocks, but in government bonds and land or property for their retirement funds…..Any excess taxes gets put into it. Rather than back into the budget. When a judge asks for a pay raise, they run the assessor out to increase your property taxes….rather than pay him out of their own excess.
      Take note of what name we are given to perpetuate their system:
      TAXPAYER. That is the only way we are categorized to any of our senators or congressman or President or Governor. Until they look at us differently we will never be any good to them but a TAXPAYER. And don’t think they will ever set us free of taxes, cuz its the only way they get paid and receive benefits.
      I think I heard Benacke say once….the USA has $60 Trillion in international assets…..and of course they won’t touch that.
      But, they will confiscate from the Social Security Trust Fund and from your 401K’s, and from your PMI and AIG mortgage loans.
      That isn’t stealing in their mind….so good luck everyone…..
      we are not in good hands with Allstate!

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    2. Jan

      From what I have researched on the subject of global warming from NASA’s site and other astronomy sites.
      The EARTH has been tilting its axis, 1 degree a year, for the past 20yrs…….HENCE, the North Pole is now closer to the sun when the earth rotates around it. The earth is now 20 degrees tilted off its axis! Also, the SUN cooled down starting in 2007.
      In fact it was dormant for several years….hence we in the states are getting colder, not warmer. And, the melting of the North Pole ice cap has regained ground. It melted from 13ft to 8ft, now its back to 13ft frozen ocean ice.
      The earth is in alot of danger right now and will be for sometime.
      There are asteroids galore in outer space, plus all the man made satellites buzzing around the earth like crazy every day.
      All it would take is one large asteroid or comet to hit the earth and shake us even more off axis and we are doomed anyway.
      However, having said all that..I am all for cleaning up pollution in our air and water. I would like to see the gov. STOP ChemTrails of Aluminum being dumped in our skies for starters.
      I would like to see,every municipal water department to buy a Reverse Osmosis machine to filter our water before it gets to our faucets. I would like them to stop the use of Flourisic Acid and Chlorine being put into our bodies via our drinking water. Both are causing disease. Instead they could OZONATE our water and that would do the job.
      All government entities have accumulated large sums of excess taxes which they have put into their CAFR funds, for their own government retirements and healthcare……they need to start using some of that money for the people that they collected it from in the first place. All of our health needs could be met if they would use that money for upgrading the drinking water and states and communities paying for OUR healthcare. The governments need to stop taxing us more and dip into their own CAFR funds to give the people back some of that money.
      Our Government is very rich from the local to the federal governments……..check out your own community and states, unaudited CAFR funds……for your selves and you will see it under their yearly budget. You don’t hear them saying they have lost any of their retirement do you???? Governments do not invest in stocks, but in government bonds and land or property for their retirement funds…..Any excess taxes gets put into it. Rather than back into the budget. When a judge asks for a pay raise, they run the assessor out to increase your property taxes….rather than pay him out of their(ours) own excess.
      Take note of what name we are given to perpetuate their system:
      TAXPAYER. That is the only way we are categorized to any of our,local governemnt to senators or congressman or President or Governor. Until they look at us differently we will never be any good to them but a TAXPAYER. And don’t think they will ever set us free of taxes, cuz its the only way they get paid and the only way they get big salaries and receive healthcare and retirement benefits.
      I think I heard Benacke say once….the USA has $60 Trillion in international assets…..and of course they won’t touch that.
      But, they will confiscate from the Social Security Trust Fund and from your 401K’s, and from your PMI and AIG mortgage loans.
      That isn’t stealing in their mind….so good luck everyone…..
      we are Not a free country, at least the taxpayer isn’t. In fact, they are in the process of hiring more policeman on a ratio of 1 to 60 of us…just to make sure we go along with “the system”.
      As a senior, who has worked 46 years of my life, I should not have to now pay for Medicare and a Medical Supplement, $187/month, that I paid into all those years…..I shouldn’t have to pay $3.63 cents in taxes on a pack of cigerettes. I shouldn’t have to pay $1.05 for every gallon of gas I buy. Think of all the taxes we pay….why I bet we are all paying about 75% in taxes on every dollar we make or spend. Well, we are TAXPAYER….and we have no control or say over how much our government wants us to pay do we? Nope. Foreigners and illegals are free tho aren’t they. Not an American taxpayer tho….we are penalized by being an american, and making a living in this country. If yah want to consume in America….the government gets most of it.if you want to work in America, the government gets most of it….if you want to live in America, you have to be a TAXPAYER….so tell the illegal that…Well, I guess the wealthy with their tax loopholes, are still happy….so I am glad somebody is.

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  9. Mike

    Sean,
    There has been a handful of inventions developed over the past 100 years that caused the combustion engine to get well over 100 miles per gallon. The mpg “standards” set by the regulators in the government have caused this rediculous oil dependance. They could see into the future and record their profits by keeping the mpg requirements in their control. Just do the math, if each vehicle in America alone were to just get 75 miles per gallon, we would have saved trillions, let alone the consumption. Lets say each vehicle did get 110 mpg. Cars would need only a 2-3 gallon tank, there would be no oil wars, no price gouging, and we would not be in a bass ackward war over oil. Because we all know that is what is driving this war. A 110 mpg vehicle would have caused at least a 1000% reduction in the oil pumping. There would not have been the oil rich thuggs manipulating industry, government or we the people…The inventions that I refer to were developed YEARS ago, they were purchased by big oil buisnessmen, the Big 3, and they were destroyed. Some of the inventors were even KILLED because they refused to allow the corruption and control. But there we are again talking about President Bush’s famous speech where he said “we will not tolerate conspiricy theories” So I ask your forgiveness. Think about the cost, the consumption, and the destruction that oil production and its use does to the enviroment. Ask your self, if this is true, then the emmisions from combustion engines must also be something that could be lowered with a simple invention. AHHH forget it. Until we can all find ONE thing to agree on we are all just jacking are jaws, and wasteing our energy. Start with something basic like sins. Until there is an awakening and we all realize that it is OUR fault that the earth is in this condition because of OUR SIN we will find NO solutions to ANY of these issues. But keep on keeping on. Education is the best tool. Next to the internet.

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    1. sean

      i agree

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  10. sean

    i will agree with you about the evil and government intervention for oil. Its probably more than you know.

    http://www.hermes-press.com/impintro1.htm

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  11. Ian Thomas

    Hope this isn’t lip service.

    Thank you for contacting me. I always appreciate it when citizens of Worcester email me in regard to important issues.

    As for this bill I am supportive and I will do whatever I am able to do to see that it is passed through the House.

    If you have any other questions or comments please do not hesitate to contact me.

    Sincerely,
    John P. Fresolo
    State Representative
    16th Worcester District

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  12. Joseph McKoon

    Barack O. and Nancy P. keep their heads buried so far up their conjunction to realize what is right for our country. Catering to Illegals, bailout big business, and soaring high on being in powerful positions with all the extras they receive from those positions. I find it refreshing that some Democrats are beginning to see the light or are they scared of loosing their position in the next election? In either case, they had better choose to do the right thing and move to audit the Fed, put an end to NAFTA, close the boarders, round-up and deport all illegal aliens, and THINK RESPONSIBAL for the good of our country and our people rather than their own self-serving interest.

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  13. Jan

    Sean, the electric car was first made in the early 1900′s, in my home town of Jackson,Michigan! Gasoline cars then…….stop their production. Alaska has the largest natural gas and oil find in 1966,and the gov., namely Kissinger, made them cap it and he instead went and made the Saudi’s rich! That oil find will supply the world with enough oil and gas for 200 yrs! OPEC owns it. Stop OPEC and we allow Gov.Palin to go forward with a pipeline down to the lower 48 states, providing jobs,and cheaper gasoline, and natural gas for cars and homes. She sent a 3 page letter to President Obama to do just that…but he’s into the North American Union and wants business given to Canada. We as a country need to depend on ourselves for oil and to export it to other countries and stop consuming the Saudi’s oil,period. WE have to start exporting, and stop consuming poorly made products coming in from other countries. We have to stop giving our knowledge and jobs and patents to other countries. Unless the plan is to totally get rid of the poor and middleclass worldwide, if that is their plan than we can scream all we want to to the congress and the senate and the President and no one will ever represent us, cuz they have ear plugs in and they don’t care…..until I see their actions for this country and match with their promises, I will not believe any of them care about people but wealth only, power only….I haven’t seen a President in 30 years fight for this country and the people in it…..Workers are dispensible….look at the hiring law’s that were changed during Reagan’s time..no fault hiring practices…
    HR schools have and the manipulation of the working class has been going on ever since. Power struggles, class struggles, race struggles, are the norm over a job in this country for 25 yrs. They divided us on purpose with allowing illegal immigration and press one for English and two for Spanish, now its press 3 for Arabic, in Michigan! The Wealthy Elitest’s are showing us what they can do with our money,and they are doing it. It’s un-constitutional and its wrong, but they are showing us who is in power aren’t they? And laughing all the way to the bank!
    Here’s the article printed in my hometown paper…..if the built an electric car in 1915, that went 100 miles before needing re-charging and they didn’t have the technology we have now, I don’t think it would cost that much to convert a factory in Michigan over to building a battery operated car. If they wanted to……but if they want to make $40K, a Cadillac or a Hummer, they will if they want……and they would rather lay people off then do what is right…cuz they are RICH…the CEO’s are richmen, they can run on gasoline hogs themselves forever with making $5million dollars a year…..they don’t worry about nothin.
    They are the rulers….and are not effected by the ruled. So, personally, I’m glad Obama fired him….
    Electric car was ahead of its time
    Posted by Susanne Weible June 02, 2008 09:15AM

    The Standard Electric Car Co. had an idea that would thrill today’s environmentalists and drivers conscious of the high price of gas. It just came at the wrong time.

    The Jackson automaker produced electric cars between 1911 and 1915 at a small factory on Hupp Street. During those short years, it manufactured a closed, coupe-brougham model, known as Model M, and another occasional vehicle called the Runabout.

    The cars were able to run 100 miles between charges and were steered by a tiller on the left side. They featured a 96-inch wheelbase and were built out of some of the most respectable components of the time, including Westinghouse motors, Goodyear tires, Standard Universal rims and Hayes Motor wheels.
    Citizen Patriot file photoThe Standard Electric Car Co. produced electric cars from 1911-1915. Its factory was located on Hupp Street.

    The general manager was Vice President Clement F. Krueger, who had previously worked for the Studebaker brothers in South Bend, Ind. Other officers were President Charles G. McCutchen, who also ran American Gear & Manufacturing Co., located next door, and Secretary-Treasurer Charles E. Ulrickson.

    The car’s original sticker price was $1,885, which would be around $34,410 today.

    The coupe was showcased at the major auto shows. In January 1912, it was displayed at the Grand Central Palace show in New York. The car quickly moved to Chicago for a February show at the Coliseum.
    photo courtesy of Ella Sharp Museum of Art & HistoryThe Standard Electric Car Co. offered Model M, for $1,885. The closed-coupe model was capable of running 100 miles between charges
    It was marketed as “The car that excels, the car that outsells.” An ad in the Dec. 14, 1913, San Antonio Light newspaper stated the cars “are beautiful Christmas gifts” and “high class.”

    The car is the only electric vehicle to have completed the New London to New Brighton Run, a 120-mile tour in Minnesota.

    The company never took off because gasoline-powered engines surged to the top of the fledgling industry. Production was low, and less than 400 total units are believed to have been made.

    In 1915, the company shut down and the factory was sold to Benjamin Briscoe. Briscoe used the plant to produce the Argo, a gas-powered auto on the market less than two years.

    To see more photos of the Standard Electric Car, visit http://www.conceptcarz.com/vehicle/z13034/Standard_Electric_Model_Electrique.aspx
    Tags: Argo, Benjamin Briscoe, Jackson, Michigan, Standard Electric Car Co., Susanne Weible

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    1. sean

      I know the electric car has been around forever, but we dont’ have an energy grid that can support it. THere are 31 countries that are more advanced in power than we are.. We dont have enough oil to last longer than 3 years in America. We have no more than 10 billion barrels of oil and we consume 10 million barrels a day and counting.. I’m sure you can do the math.

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      1. sean

        latest update..

        http://masterresource.org/?p=1668

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      2. Jan

        Sean,
        Yah we do, lots of OIL in Alaska, that USA state, has enough oil to supply the world with oil and natural gas for the next 200 years! Michigan has alot of oil, so does New Mexico…
        check this website:

        http://www.reformation.org/energy-non-crisis.html

        read the free chapters of the book, and then check out the video’s…….You’ll understand it all alot better.
        And also go to John Perkins site “The Confessions of a Economic Hit Man”,watch his video too, then you’ll know about the “real deal”, around OIL/Gov/wealth/power/control/greed/EVIL. He’ll tell you who the players are in the game…..

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        1. sean

          i will read that, but you have to read this

          http://maps.unomaha.edu/Peterson/funda/Sidebar/OilConsumption.html

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          1. sean

            blah, i don’t believe that some senator knows more about oil than most others. Thats the work of some lobbyist trying to become wealthy from what oil is in alaska… THey will lie about how much there really is just to make a large buck.

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          2. sean

            I’ve seen that zeitgeist movie, its pretty good.. it has nothing on this movie

            http://www.oilcrashmovie.com/film.html

            you should check out this..

            http://lifeaftertheoilcrash.net/

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          3. newsreader

            Forget oil. Completely re-engineer America with a new solar infrastructure. We’re getting off of those war monger oil barrels. You’re not for war are you? Invest locally with wind turbines and solar panels. That’s right, baby!

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  14. Hime

    Has anyone contacted congresswoman Nancy Pelosi 8th district San Francisco, CA yet?

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  15. Albert Olofsson

    Ron Paul in an incredibly important man, he is bringing about a courage and chracter never for seen in the Congress. His actions have spinnoff effects greater then any other US politichan.

    Albert Olofsson

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  16. Jan

    Audit? The news is already out! The money is going to the 5Big Banks and of course overseas Federal Banks……Did you know that our dollar dropped in value in 2007 to 0.03 cents! Check out this article for who the big 5 are and how much they got and how many multi Trillions they sold in mortgage securities…….anyone heard of PMI insurance company ? that people who have a mortgage, have to pay them @ $80 a month to guarantee the loaner 80% of the loan if the buyer defaults? I wonder how they are doing compared to AIG? I wonder if they are really paying these banks back????????? Any congressman asking????

    Geithner’s ‘Dirty Little Secret’: The Entire Global Financial System is at Risk
    When the Solution to the Financial Crisis becomes the Cause

    By F. William Engdahl

    URL of this article: http://www.globalresearch.ca/index.php?context=va&aid=12953

    Global Research, March 30, 2009

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    1. sean

      Any bank has the opportunity to get a loan from the treasury.. They are pumping money into these major banks because they are the most at risk.. Did you know a weak dollar supports exports in a global economy which is the only way to create wealth?.. Why don’t you think any politician talks about our trillion dollar trade deficit with more than 50% being for oil? We spend 500+ billion dollars a year on oil and we’re worried about the government spending, or replacing that money which is lost at sea. More than 70% of our money belongs in foreign countries because we buy so much oil and goods from them. Of the 30% money actually in our country, 2/3 belong in “shadow banks” or investment firms like AIG. It would be a major disaster if we lost a good portion of the money in our country. These bailouts were important to maintain our financial system.. We started running out of oil in the sixties, so we got rid of the gold standard, and started free trade so we could continue to buy oil to run our economy. What Obama is doing is probably the best thing any president has done. With this stimulus, he is creating a blueprint for energy independence. Soon, every home will be equiped with solar panals which run the electricity in our homes and cars for free. THe government can reduce deficit spending by half because that money will not be spent overseas, such as today… NOw, the smarter peope in charge understand this. The government follows keynesian economics which specificly states the major danger in trade deficits. Since we import so much oil and goods, we have to export securities, or government debt. Its a flow of cash comming in at the same rate as cash flowing out. That government debt is given to the treasury to despense amung the economy.. Oil is the main reason for wars and the main reason for the expansion of government. Just look up oil impearialism.. http://www.hermes-press.com/impintro1.htm
      Of course we all know that rockefeller was the one who set up the federal reserve. But do we know who rockefeller really was? He was an oil tycoon that revolutionized the oil industry. Setting up the federal reserve was the last and final messure of his so called success. With a central bank there would be an adequate way to export oil, which “creates wealth.” Why do you think our country was built up so fast during the prime years of exporting oil? Why do you think we have had so many financial troubles since we ran out oil? Just look at this chart. You will see that oil brings prosperity.
      http://s.buzzfeed.com/static/imagebuzz/2008/9/26/13/bd610b367bd2e18b19eab6f4ef29abd6.jpg
      It may be hard to understand, it may be hard to coup with, but its real. Oil industries have hijacked our country. We consume 10,000,000 barrels of oil a day. We are addicted in several different ways.. Oil imports started free trade which seemed like an okay deal at the time, but now we have lost so much production. Free trade is a fairly new concept. We’ve had protectionism during the 200 years of economic success, and the past 50 years of free trade has destroyed the wealth in our country. MANY economists warned us of free trade but it was a must. NOt because we want cheaper products, but because we want cheaper oil. Free trade is based on the comparative advantage theory which states that trade will balance itself out because the producing country will in return start consuming. THis is by far not the case. We have a trillion dollar trade deficit which in return effects foreign, trade, and monetary policy.. I commend a new era of neo-technology rather than these wars to maintain old technology, old habbits, and old problems. I commend President Obama, Larry Summers, and Timothy Geithner for their effort.

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      1. Del Kerr

        Sean, Whew!!! Where to begin with people like you. I feel that your heart is in the right place…it’s your head that worries me. Until you are equipped to have a FULL understanding of a situation you should, as the expression goes “Remain silent, and be thought a fool rather than open your mouth, and remove all doubt”. If you believe there is ANY way of having “FREE” energy you are indeed a dreamer. A viable alternative energy source will never be allowed to go into mainstream use until the present energy moguls have bought control of it. You are right in that our economy has been controlled by oil, but you must realize that it is not just our country…it’s the entire world. However, it used to have an export element that figured into it. As a former oilfield engineer I can tell you that we are not even close to being “out of oil” In the mid 70′s to the mid 80′s I personally witnessed the capping of hundreds of producing wells in Tx. alone, and was left unemployed by Reagan in the mid 80′s. This was not due to a shortage, but by legislation that restructured the tax codes to punish production in America. This legislation was driven largely by the left wing Environmentalists. It was not hotly contested by the administration since GHWB, who has been in business with the Saudis (the Bin Ladens in particular) since the 50′s was VP. Also, the amount of oil reserves in the middle east has been greatly exaggerated. As you said,”Oil brings prosperity”, isn’t that what we want? How can you say in one breath that it brings prosperity, then complain of hijacking? Liberal legislation is designed specifically to hamstring American oil companies while allowing Russia, and China to drill within 90 miles of our coast. A central bank would do nothing to aid in oil export since the Obamunists want to tax the oil companies at an exorbitant rate, and will not allow new Domestic production. The more they are taxed, the more we pay. We could literally flood the market without drilling another hole in the ground by uncapping the wells that were plugged in the 70′s, and 80′s. We could have $1.oo/gal gas and the Oil co.s would still make massive profit if we were allowed to produce domestically. As I said, OIL RUNS THE WORLD period. Whose oil companies would you have winning the oil war…Us, or Russia, China, or are you happy with OPEC… a people that have a tribal mentality being in control??? Keep this in mind, The old technology, habits, and problems are exactly what we are lamenting the loss of. If you think it was bad back then, do you not think it is far worse now? Under Socialist guidance the democratic party has systematically dismantled our world image. The only thing Hussein should be commended for is pulling off the largest scam in our history by being elected to the highest office in the world without actually being a citizen! As for Geithner…can you really believe that a confirmed tax cheat is the best choice to run the IRS? Now they tout new legislation to “Go after Tax Cheats”. One more thing Sean. If you want to be taken seriously either learn to spell, or at least have a middle school student proofread it for you.

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    2. sean

      Any bank has the opportunity to get a loan from the treasury.. They are pumping money into these major banks because they are the most at risk.. Did you know a weak dollar supports exports in a global economy which is the only way to create wealth?.. Why don’t you think any politician talks about our trillion dollar trade deficit with more than 50% being for oil? We spend 500+ billion dollars a year on oil and we’re worried about the government spending, or replacing that money which is lost at sea. More than 70% of our money belongs in foreign countries because we buy so much oil and goods from them. Of the 30% money actually in our country, 2/3 belong in “shadow banks” or investment firms like AIG. It would be a major disaster if we lost a good portion of the money in our country. These bailouts were important to maintain our financial system..

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      1. sean

        We started running out of oil in the sixties, so we got rid of the gold standard, and started free trade so we could continue to buy oil to run our economy. What Obama is doing is probably the best thing any president has done. With this stimulus, he is creating a blueprint for energy independence. Soon, every home will be equiped with solar panals which run the electricity in our homes and cars for free. THe government can reduce deficit spending by half because that money will not be spent overseas, such as today… NOw, the smarter peope in charge understand this. The government follows keynesian economics which specificly states the major danger in trade deficits. Since we import so much oil and goods, we have to export securities, or government debt. Its a flow of cash comming in at the same rate as cash flowing out. That government debt is given to the treasury to despense amung the economy.. Oil is the main reason for wars and the main reason for the expansion of government. Just look up oil impearialism.. http://www.hermes-press.com/impintro1.htm

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        1. sean

          Of course we all know that rockefeller was the one who set up the federal reserve. But do we know who rockefeller really was? He was an oil tycoon that revolutionized the oil industry. Setting up the federal reserve was the last and final messure of his so called success. With a central bank there would be an adequate way to export oil, which “creates wealth.” Why do you think our country was built up so fast during the prime years of exporting oil? Why do you think we have had so many financial troubles since we ran out oil? Just look at this chart. You will see that oil brings prosperity.
          http://s.buzzfeed.com/static/imagebuzz/2008/9/26/13/bd610b367bd2e18b19eab6f4ef29abd6.jpg

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        2. sean

          Of course we all know that rockefeller was the one who set up the federal reserve. But do we know who rockefeller really was? He was an oil tycoon that revolutionized the oil industry. Setting up the federal reserve was the last and final messure of his so called success. With a central bank there would be an adequate way to export oil, which “creates wealth.” Why do you think our country was built up so fast during the prime years of exporting oil? Why do you think we have had so many financial troubles since we ran out oil?

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          1. sean

            You will see that oil brings prosperity.
            http://s.buzzfeed.com/static/imagebuzz/2008/9/26/13/bd610b367bd2e18b19eab6f4ef29abd6.jpg
            It may be hard to understand, it may be hard to coup with, but its real. Oil industries have hijacked our country. We consume 10,000,000 barrels of oil a day. We are addicted in several different ways.. Oil imports started free trade which seemed like an okay deal at the time, but now we have lost so much production. Free trade is a fairly new concept. We’ve had protectionism during the 200 years of economic success, and the past 50 years of free trade has destroyed the wealth in our country. MANY economists warned us of free trade but it was a must. NOt because we want cheaper products, but because we want cheaper oil. Free trade is based on the comparative advantage theory which states that trade will balance itself out because the producing country will in return start consuming. THis is by far not the case. We have a trillion dollar trade deficit which in return effects foreign, trade, and monetary policy.. I commend a new era of neo-technology rather than these wars to maintain old technology, old habbits, and old problems. I commend President Obama, Larry Summers, and Timothy Geithner for their effort.

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  17. Chrsitine

    How many of you got this from their congressman. (below)
    Don’t alienate voters. Lobbiests love that line free from political pressures. In COLORADO includes education which is not funded through the normal budget process, bridges and roads, etc. Maybe we should eliminate all elected government( including him) and be free of political pressure.

    March 26, 2009

    Dear Christine,
    Thank you for contacting me regarding H.R. 1207, the Federal Reserve Transparency Act of 2009. I appreciate hearing from you on such an important issue because it enables me to better represent the beliefs and values of our district.

    As you know, the Federal Reserve Transparency Act of 2009 would open up the operations of the Federal Reserve to scrutiny and audit by the Government Accountability Office. The Federal Reserve has historically been exempt from such oversight in order to insulate the institution from political pressures. H.R. 1207 has most recently been referred to the House Financial Services Committee. As a member of this committee, I am especially aware of the need for increased transparency and accountability in government and our financial institutions. Increasing transparency is an important first step in the effort to renew public confidence in the financial sector and regain economic stability. Rest assured I will keep your views in mind should this legislation reach the House floor for a vote in the 111th Congress.

    I encourage you to continue to contact me about the issues that are important to you. Please visit our website http://www.perlmutter.house.gov where you can also sign up for my electronic newsletter, and receive periodic updates on my activities as your Representative in Washington.

    Sincerely,
    Ed Perlmutter
    Member of Congressoters. Lobbiests love it.

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    1. Christopher

      I got the exact same e-mail from Perlmutter (I live in Lakewood) except he didn’t put in the “Rest assured I will keep your views in mind should this legislation reach the House floor for a vote in the 111th Congress.” in mine. Lol

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  18. Jan

    If you want to learn more about what is a-c-c-u-a-l-l-y the truth about what is going on. I would suggest a website called:
    SOLARI. here it is: http://solari.com/

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  19. jeepndesert

    phil gingrey (R-GA) emailed me today and said he is cosponsoring the bill. you can add another to the list. seems the republican congress in georgia are united on this.

    too bad the republican senators in georgia are sell outs to the new world order (they both voted for the banker takeover bill).

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  20. chuck duncan

    The FED is clearly a black ops organization in the U.S. My associates and I have been screaming about them for years and no one listens. It is amazing to me that the average citizen would rather watch American Idol that pay attention to the crooks and their puppets in Congress. Barney Frank is an enemy of the State in my opinion as is Chris Dodd, yet all the American people believe is that the Republicans and W, in particular, are completely to blame.Obama will have a very short lived popularity once the entire thing comes crashing down and all he can offer is that the Bush administration left it for him to inherit. Even now that is playing thin.

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  21. Matt Reilly

    I like the idea (and the idea behind it!), but I’m concerned the bill isn’t going to be effective enough.

    Why end section b with just “shall audit an agency.”? Why not explicitly state what the Comptroller General should have access to audit? Something like “all activities of the Federal Reserve Board and Federal Reserve banks”?

    Why doesn’t the bill address section c also? Is there a reason why the GAO shouldn’t disclose identifying information about open/closed banks our money is going to?

    Is the language describing the new audit explicit enough to guarantee that the information mentioned in section b (to be striken) will be provided as a result of the investigation? Are the current surrounding rules sufficient as-is to guarantee the transfer of this new information to Congress along with the normal audit information? What about the transfer of this new information to people? I can currently read GAO reports on the Fed’s site, but will this new information be available to people there also?

    Why should there be only a single audit by 2010? I understand the need for setting a deadline, but what about afterward–can’t the bill establish a regular schedule or at least require the establishment of a regular schedule from the GAO? What should the schedule be? Can it be annual, or would that cost too much? If it would cost too much, what kind of schedule should there be?

    These questions are leading me to wonder if the bill isn’t fully intended to include this previously unavailable info with the current annual reporting scheme as much as it’s intended just to end the Fed. Even if that is the goal, I think the bill should be more explicit in guaranteeing access to the information. And I don’t think the bill should be glued to assumptions about the future (ex. only providing for one audit in 2010). Maybe I’m being paranoid, I’m just not sure it’ll be as effective otherwise.

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  22. Kenji Lee (Ron Paul Revolution)

    The federal reserve got to go. They answers to no one not even Congress and the President. They got to go. There is no use to have a federal reserve sitting around.

    END THE FED”. Put it where it belongs. In the history book, once and for all.

    Kenji Lee (Constitutional and Ron Paul Revolution)

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  23. Fluidly Unsure

    If you live in central or eastern Riverside County in California USA (congressional district #45) please contact Mary Bono Mack, your congresswoman in the HR.

    Use the sample letter at the top of this posting.
    http://bono.house.gov/contact_mary/

    Or sign the following petition
    http://petitionspot.com/petitions/hr1207distr45

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  24. Silver

    Just called my Arizona rep. Trent Franks and thanked him for being a Co-Sponsor with Ron Paul for HR 1207. I know he already Co-Sponsored but I wanted to show appreciation, and help him keep it on the front of his mind because the next step after the audit will be to “End The Fed”.

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  25. Auditing the Federal Reserve « Bunnysbuzz’s Blog

    [...] Please support Ron Paul as he supports the constitution, and he is challenging our government by Auditing the Fed. This is [...]

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  26. Jan

    Members of the Trlateral Commission(TC)/ and the Council on Foregin Relations (CFR)in USA government now. Vote them out next election.
    UNITED STATES CONGRESS — SENATORS:

    David L. Boren (D-OK) — CFR
    William Bradley (D-NJ) — CFR
    John H. Chafee (R-RI) — CFR, TC
    William S. Cohen (R-ME) — CFR, TC
    Christopher J. Dodd (D-CT) — CFR
    Dianne Feinstein (D-CA) — TC
    Bob Graham (D-FL) — CFR
    Joseph I. Lieberman (D-CT) — CFR
    George J. MiTChell (D-ME) — CFR
    Claiborne Pell (D-RI) — CFR
    Larry Pressler (R-SD) — CFR
    Charles S. Robb (D-VA) — CFR, TC
    John D. Rockefeller, IV (D-WV) — CFR, TC
    William Roth, Jr. (R-DE) — CFR, TC

    UNITED STATES CONGRESS — REPRESENTATIVES:

    Howard L. Berman (D-CA) — CFR
    Thomas S. Foley (D-WA) — CFR
    Sam Gejdenson (D-CT) — CFR
    Richard A. Gephardt (D-MO) — CFR
    Newton L. Gingrich (R-GA) — CFR
    Lee H. Hamilton (D-IN) — TC
    Amory Houghton, Jr. (R-NY) — CFR
    Nancy Lee Johnson (R-CT) — CFR
    Jim Leach (R-IA) — TC
    John Lewis (D-GA) — CFR
    Robert T. Matsui (D-CA) — CFR
    Dave K. Mccurdy (D-OK) — CFR
    Eleanor Homes Norton (D-DC) — CFR
    Thomas El Petri (R-WI) — CFR
    Charles B. Rangel (D-NY) — TC
    Carlos A. Romero-Barcelo (D-PR) — CFR
    Patricia Schroeder (D-CO) — CFR
    Peter Smith (R-VT) — CFR
    Olympia J. Snow (R-ME) — CFR
    John M. Spratt (D-SC) — CFR
    Louis Stokes (D-OH) — CFR

    http://www.apfn.org/apfn/cfr-members.htm
    For more members of various newscasters, judges, banks,union leaders………………go to the above website and learn about it for yourself.

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  27. John

    This is not only important to the States, it is important to the world. I watch American politics just for the entertainment value alone, and the only people that I have seen that make sense are Ron Paul and Dennis Kucinich.

    We need to act fast and expose these untouchable banksters and put them in jail. Its actually getting frightening now.

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    1. Del Kerr

      John, Are you aware that Dennis “Kommie” Kucinich is a member in good standing of the Democratic Socialists of America? Check out http://www.freerepublic.com/focus/f-news/1140124/posts, for a list of members. Some others are Nancy Pelosi, Henry Waxman, Maxine Waters, John Conyers Charles Rangel, and Jesse Jackson Jr. Surprised???

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  28. Jan

    Roster of CFR/Trilateral Commission Members

    Members of the Council on Foreign Relations and the Trilateral Commission dominate key positions in America’s government, military, industries, media outlets and educational foundations and institutions. The following is a partial list of current CFR members and the positions of influence they hold in society. The CFR’s membership is limited to 3,000, and there are only 325 Trilateral Commission members. Take a look at the Senate and the Representatives that are members of the CFR. Take a look at all the banks that are also. They are the planners of the One World Economic System……they are who YOU elected.

    http://www.apfn.org/apfn/cfr-members.htm

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  29. Mike

    “On every question of construction [of the Constitution] let us carry ourselves back to the time when the Constitution was adopted, recollect the spirit manifested in the debates, and instead of trying what meaning may be squeezed out of the text, or intended against it, conform to the probable one in which it was passed.”
    – Thomas Jefferson (1743-1826), letter to Judge William Johnson, (from Monticello, June 12, 1823

    Lets all take some advice from an old guy….

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  30. Sasha Sessums

    I look very forward to this bill passing into law and to the resulting scramble and panic it will undoubtedly produce within the federal reserve itself. I am so excited to see so many getting charged up and discussing so many important issues and am glad that I can examine all the great subjects and debates as well as being able to throw in my 2 cents from the comfort of my computer. I am sure that I do not stand alone on the dilemma of being in an extremely liberal area and surrounded (even within my closest circle) by hopeful Obama supporters. I now try to avoid getting into it with any of my friends because they seem to have rose colored blinders on that do not allow them to see the ever so apparent truth. I do oftentimes slip up and get into heated discussions but usually end up being ganged up on by more of the duped. My lungs are tired from shouting from the mountaintops and I believe my energy is probably better utilized through my now frequent writings to the elected officials. I may be jumping too far off here but have been wondering for a while now just how much it costs to run the IRS as compared to how much of our money they collect. Does anyone know the answer to this? Shown as a percentage would be a good way to see it so that I can process it absolutely. If anyone knows, please do tell, and if not, any suggestions on where I could research for myself would be much appreciated as well.

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    1. Mike

      Sasha,
      There are a few places that you could seek information about the IRS. In Alexandria Va. there is a group called “Save a Patriot” They have been a thorn in the IRS’s side for years. Also another group, “No taxation without representation” I believe they could answer some of your questions.

      Take care and welcome to the revolution.

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  31. Jody Carrillo

    Next HUGE end the fed rally APRIL 25TH 2009

    IN 39 CITIES @ EVERY FED BANK! @ 12 NOON!

    GO to http://www.EndTheFed.US to find your local group!!!!

    SUPPORT HR 1207, GET A PETITION, PASS OUT DVDS!

    WAKE UP EVERYONE YOU KNOW!

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  32. Jody Carrillo

    http://www.votesmart.org/summary.php?can_id=15393

    Everyone PLEASE go to this site, find out who your local representives are, by city and by state! Email all of them!!!

    Use this sample letter!!! Make sure to keep emailing, dont give up!

    http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/

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  33. The Federal Reserve is Treasonous

    http://www.votervoice.net/Core.aspx?AID=972&APP=GAC&SiteID=0&IssueID=16611

    VOTE NOW!!!!!!!!!!!

    Order your congress member to jump on HR 1207, every sector, every city, every state.

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  34. The Federal Reserve is Treasonous

    I am sorry but regardless of what ideals you follow, you must agree that a private international bank deciding our laws and policy is anathema to democracy.

    http://www.jbs.org/index.php/inflation-taxes-economy-blog/4569-support-hr-1207-to-audit-the-federal-reserve

    http://www.campaignforliberty.com

    The Federal Reserve deserves to be audited in public and exposed to the light of day, let us all make this happen, and continue to yank the curtain back on this incredibly ominous threat to the American people and Congress.

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  35. Jan

    Why give our money to Banks and Wall Street? All they do is take our investment and earn huge bonus’s and incomes, from it.
    It doesn’t go to increasing workers wages, or to improving conditions. Stocks never made any sense to me…I had one once, I took a already taxed $1,000 and invested it in one stock, it dropped and I sold it, and recieved $995, which it was taxed $200 when I picked it up! So I learned a long time ago its a scam. The broker got his cut, and so did the government twice!
    This is the way I see it. Corporations go to congress to have them legally write policies so their corporations can scam the people.
    That is exactly what Hitler did in Germany..everything he did was OK by congress!
    Congress gets money from lobbyists to get swayed by corporations.
    I say stop the game and be a true constitutional congressman.
    We don’t elect you so you can get rich……

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