Audit the Federal Reserve

191 Responses



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 eventually the most significant portions of the bill were derailed. (Full story here.)

This year, Audit the Fed is back with a vengeance. Reintroduced on 01/26/2011 as HR 459, Ron Paul’s bill to audit the Federal Reserve now has 227 co-sponsors, and the numbers keep growing! HR 459′s companion bill in the Senate, S 202, has already attracted 20 co-sponsors.

This is history in the making, and victory is within reach. Imagine what will happen if HR 459, The Federal Reserve Transparency Act, comes up for vote in Congress! It has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

Step 1: Your Representative

If your representative is not on the following list of HR 459 co-sponsors, call their offices, write to them, email them. Let them know they need to support HR 459. If you live in their district, let them know. Go to their office.

Capitol Switchboard: (202) 224-3121

HR 459 Co-Sponsors
Rep Adams, Sandy [FL-24] – 2/11/2011
Rep Akin, W. Todd [MO-2] – 6/13/2011
Rep Alexander, Rodney [LA-5] – 1/26/2011
Rep Altmire, Jason [PA-4] – 2/16/2011
Rep Amash, Justin [MI-3] – 2/8/2011
Rep Amodei, Mark E. [NV-2] – 12/12/2011
Rep Austria, Steve [OH-7] – 4/11/2011
Rep Bachmann, Michele [MN-6] – 4/6/2011
Rep Bachus, Spencer [AL-6] – 1/26/2011
Rep Baldwin, Tammy [WI-2] – 2/28/2011
Rep Barletta, Lou [PA-11] – 2/15/2011
Rep Barrow, John [GA-12] – 10/13/2011
Rep Bartlett, Roscoe G. [MD-6] – 1/26/2011
Rep Barton, Joe [TX-6] – 1/26/2011
Rep Bass, Charles F. [NH-2] – 3/28/2012
Rep Benishek, Dan [MI-1] – 5/11/2011
Rep Berg, Rick [ND] – 1/18/2012
Rep Biggert, Judy [IL-13] – 3/29/2011
Rep Bilbray, Brian P. [CA-50] – 7/6/2011
Rep Bilirakis, Gus M. [FL-9] – 1/26/2011
Rep Bishop, Rob [UT-1] – 2/14/2012
Rep Bishop, Sanford D., Jr. [GA-2] – 2/15/2012
Rep Black, Diane [TN-6] – 2/7/2012
Rep Blackburn, Marsha [TN-7] – 1/26/2011
Rep Bonner, Jo [AL-1] – 6/22/2011
Rep Bono Mack, Mary [CA-45] – 1/18/2012
Rep Boustany, Charles W., Jr. [LA-7] – 5/23/2011
Rep Brooks, Mo [AL-5] – 2/7/2012
Rep Broun, Paul C. [GA-10] – 1/26/2011
Rep Buchanan, Vern [FL-13] – 2/8/2011
Rep Burgess, Michael C. [TX-26] – 1/26/2011
Rep Burton, Dan [IN-5] – 1/26/2011
Rep Calvert, Ken [CA-44] – 1/26/2011
Rep Camp, Dave [MI-4] – 9/12/2011
Rep Campbell, John [CA-48] – 1/26/2011
Rep Canseco, Francisco “Quico” [TX-23] – 2/8/2011
Rep Carter, John R. [TX-31] – 2/8/2011
Rep Cassidy, Bill [LA-6] – 2/15/2012
Rep Chaffetz, Jason [UT-3] – 1/26/2011
Rep Coble, Howard [NC-6] – 4/19/2012
Rep Coffman, Mike [CO-6] – 1/26/2011
Rep Cole, Tom [OK-4] – 5/10/2011
Rep Conaway, K. Michael [TX-11] – 2/27/2012
Rep Conyers, John, Jr. [MI-14] – 3/31/2011
Rep Cravaack, Chip [MN-8] – 11/29/2011
Rep Crawford, Eric A. “Rick” [AR-1] – 2/15/2012
Rep Crenshaw, Ander [FL-4] – 3/15/2011
Rep Culberson, John Abney [TX-7] – 5/2/2011
Rep Davis, Geoff [KY-4] – 2/8/2011
Rep DeFazio, Peter A. [OR-4] – 3/15/2011
Rep Dreier, David [CA-26] – 2/8/2011
Rep Duffy, Sean P. [WI-7] – 9/7/2011
Rep Duncan, Jeff [SC-3] – 4/15/2011
Rep Duncan, John J., Jr. [TN-2] – 2/8/2011
Rep Farenthold, Blake [TX-27] – 3/30/2011
Rep Fincher, Stephen Lee [TN-8] – 2/8/2011
Rep Fitzpatrick, Michael G. [PA-8] – 9/19/2011
Rep Flake, Jeff [AZ-6] – 3/30/2011
Rep Flores, Bill [TX-17] – 1/26/2011
Rep Forbes, J. Randy [VA-4] – 1/26/2011
Rep Fortenberry, Jeff [NE-1] – 1/26/2011
Rep Foxx, Virginia [NC-5] – 3/29/2011
Rep Frelinghuysen, Rodney P. [NJ-11] – 4/14/2011
Rep Gallegly, Elton [CA-24] – 1/26/2011
Rep Gardner, Cory [CO-4] – 5/2/2011
Rep Garrett, Scott [NJ-5] – 1/26/2011
Rep Gerlach, Jim [PA-6] – 1/26/2011
Rep Gibbs, Bob [OH-18] – 3/19/2012
Rep Gibson, Christopher P. [NY-20] – 3/1/2011
Rep Gingrey, Phil [GA-11] – 9/7/2011
Rep Gohmert, Louie [TX-1] – 1/26/2011
Rep Goodlatte, Bob [VA-6] – 3/1/2011
Rep Gosar, Paul A. [AZ-1] – 8/1/2011
Rep Gowdy, Trey [SC-4] – 3/29/2011
Rep Granger, Kay [TX-12] – 2/15/2011
Rep Graves, Sam [MO-6] – 4/5/2011
Rep Graves, Tom [GA-9] – 1/26/2011
Rep Green, Gene [TX-29] – 11/2/2011
Rep Griffin, Tim [AR-2] – 4/6/2011
Rep Griffith, H. Morgan [VA-9] – 3/15/2011
Rep Grimm, Michael G. [NY-13] – 10/24/2011
Rep Guinta, Frank C. [NH-1] – 4/15/2011
Rep Guthrie, Brett [KY-2] – 9/12/2011
Rep Hall, Ralph M. [TX-4] – 4/19/2012
Rep Harris, Andy [MD-1] – 3/11/2011
Rep Hartzler, Vicky [MO-4] – 9/19/2011
Rep Heck, Joseph J. [NV-3] – 3/29/2011
Rep Heller, Dean [NV-2] – 1/26/2011
Rep Herger, Wally [CA-2] – 4/15/2011
Rep Herrera Beutler, Jaime [WA-3] – 3/29/2011
Rep Hinchey, Maurice D. [NY-22] – 7/21/2011
Rep Hinojosa, Ruben [TX-15] – 3/8/2012
Rep Huelskamp, Tim [KS-1] – 5/3/2011
Rep Huizenga, Bill [MI-2] – 1/26/2011
Rep Hultgren, Randy [IL-14] – 6/2/2011
Rep Hurt, Robert [VA-5] – 5/23/2011
Rep Jenkins, Lynn [KS-2] – 3/30/2011
Rep Johnson, Bill [OH-6] – 5/18/2012
Rep Johnson, Sam [TX-3] – 3/10/2011
Rep Johnson, Timothy V. [IL-15] – 2/28/2011
Rep Jones, Walter B., Jr. [NC-3] – 1/26/2011
Rep Kaptur, Marcy [OH-9] – 1/26/2011
Rep Kelly, Mike [PA-3] – 5/12/2011
Rep Kingston, Jack [GA-1] – 3/17/2011
Rep Kinzinger, Adam [IL-11] – 4/19/2012
Rep Kissell, Larry [NC-8] – 6/2/2011
Rep Kline, John [MN-2] – 4/5/2011
Rep Kucinich, Dennis J. [OH-10] – 1/26/2011
Rep Labrador, Raul R. [ID-1] – 5/5/2011
Rep Lamborn, Doug [CO-5] – 1/26/2011
Rep Lance, Leonard [NJ-7] – 1/26/2011
Rep Landry, Jeffrey M. [LA-3] – 11/29/2011
Rep Lankford, James [OK-5] – 2/8/2011
Rep Latham, Tom [IA-4] – 3/2/2011
Rep LaTourette, Steven C. [OH-14] – 1/26/2011
Rep Latta, Robert E. [OH-5] – 5/4/2011
Rep Lewis, Jerry [CA-41] – 1/18/2012
Rep Lipinski, Daniel [IL-3] – 2/27/2012
Rep LoBiondo, Frank A. [NJ-2] – 1/26/2011
Rep Loebsack, David [IA-2] – 10/24/2011
Rep Lofgren, Zoe [CA-16] – 9/7/2011
Rep Lucas, Frank D. [OK-3] – 10/31/2011
Rep Luetkemeyer, Blaine [MO-9] – 2/8/2011
Rep Lummis, Cynthia M. [WY] – 3/29/2011
Rep Lungren, Daniel E. [CA-3] – 5/10/2012
Rep Mack, Connie [FL-14] – 2/15/2011
Rep Manzullo, Donald A. [IL-16] – 3/17/2011
Rep Marchant, Kenny [TX-24] – 1/26/2011
Rep Marino, Tom [PA-10] – 3/4/2011
Rep McCarthy, Kevin [CA-22] – 5/23/2011
Rep McCaul, Michael T. [TX-10] – 1/26/2011
Rep McClintock, Tom [CA-4] – 1/26/2011
Rep McCotter, Thaddeus G. [MI-11] – 2/18/2011
Rep McDermott, Jim [WA-7] – 4/16/2012
Rep McGovern, James P. [MA-3] – 7/6/2011
Rep McIntyre, Mike [NC-7] – 3/29/2011
Rep McKeon, Howard P. “Buck” [CA-25] – 1/26/2011
Rep McKinley, David B. [WV-1] – 1/26/2011
Rep McMorris Rodgers, Cathy [WA-5] – 1/26/2011
Rep Meehan, Patrick [PA-7] – 7/21/2011
Rep Mica, John L. [FL-7] – 3/19/2012
Rep Michaud, Michael H. [ME-2] – 3/17/2011
Rep Miller, Candice S. [MI-10] – 8/5/2011
Rep Miller, Gary G. [CA-42] – 1/26/2011
Rep Miller, Jeff [FL-1] – 1/26/2011
Rep Mulvaney, Mick [SC-5] – 2/8/2011
Rep Murphy, Tim [PA-18] – 4/1/2011
Rep Myrick, Sue Wilkins [NC-9] – 1/26/2011
Rep Neugebauer, Randy [TX-19] – 4/12/2011
Rep Noem, Kristi L. [SD] – 10/13/2011
Rep Nugent, Richard [FL-5] – 2/8/2011
Rep Nunnelee, Alan [MS-1] – 3/8/2012
Rep Paulsen, Erik [MN-3] – 12/6/2011
Rep Pearce, Stevan [NM-2] – 2/15/2012
Rep Peterson, Collin C. [MN-7] – 4/26/2012
Rep Petri, Thomas E. [WI-6] – 1/26/2011
Rep Platts, Todd Russell [PA-19] – 4/15/2011
Rep Poe, Ted [TX-2] – 2/3/2012
Rep Polis, Jared [CO-2] – 3/29/2011
Rep Pompeo, Mike [KS-4] – 7/25/2011
Rep Posey, Bill [FL-15] – 1/26/2011
Rep Price, Tom [GA-6] – 7/6/2011
Rep Quayle, Benjamin [AZ-3] – 2/3/2012
Rep Reed, Tom [NY-29] – 1/26/2011
Rep Rehberg, Denny [MT] – 1/26/2011
Rep Ribble, Reid J. [WI-8] – 3/10/2011
Rep Rigell, E. Scott [VA-2] – 2/8/2011
Rep Roe, David P. [TN-1] – 9/7/2011
Rep Rogers, Mike D. [AL-3] – 5/10/2011
Rep Rogers, Mike J. [MI-8] – 3/17/2011
Rep Rohrabacher, Dana [CA-46] – 1/26/2011
Rep Rokita, Todd [IN-4] – 5/10/2011
Rep Rooney, Thomas J. [FL-16] – 9/12/2011
Rep Roskam, Peter J. [IL-6] – 7/29/2011
Rep Ross, Dennis [FL-12] – 1/26/2011
Rep Ross, Mike [AR-4] – 2/8/2011
Rep Rothman, Steven R. [NJ-9] – 5/23/2011
Rep Runyan, Jon [NJ-3] – 5/3/2011
Rep Scalise, Steve [LA-1] – 10/13/2011
Rep Schilling, Robert T. [IL-17] – 4/5/2011
Rep Schmidt, Jean [OH-2] – 2/7/2012
Rep Schock, Aaron [IL-18] – 1/26/2011
Rep Schrader, Kurt [OR-5] – 3/10/2011
Rep Schweikert, David [AZ-5] – 2/8/2011
Rep Scott, Austin [GA-8] – 9/7/2011
Rep Scott, Tim [SC-1] – 9/13/2011
Rep Sensenbrenner, F. James, Jr. [WI-5] – 2/11/2011
Rep Shimkus, John [IL-19] – 4/12/2011
Rep Shuster, Bill [PA-9] – 5/23/2011
Rep Simpson, Michael K. [ID-2] – 1/26/2011
Rep Smith, Adrian [NE-3] – 1/26/2011
Rep Smith, Christopher H. [NJ-4] – 4/19/2012
Rep Smith, Lamar [TX-21] – 1/26/2011
Rep Speier, Jackie [CA-12] – 11/30/2011
Rep Stark, Fortney Pete [CA-13] – 5/3/2011
Rep Stearns, Cliff [FL-6] – 3/29/2011
Rep Stivers, Steve [OH-15] – 3/26/2012
Rep Stutzman, Marlin A. [IN-3] – 3/10/2011
Rep Sullivan, John [OK-1] – 6/13/2011
Rep Terry, Lee [NE-2] – 3/4/2011
Rep Thompson, Glenn [PA-5] – 1/26/2011
Rep Thornberry, Mac [TX-13] – 2/15/2011
Rep Tiberi, Patrick J. [OH-12] – 5/25/2011
Rep Tierney, John F. [MA-6] – 5/3/2011
Rep Tipton, Scott [CO-3] – 4/5/2011
Rep Turner, Michael R. [OH-3] – 5/23/2011
Rep Upton, Fred [MI-6] – 2/14/2012
Rep Visclosky, Peter J. [IN-1] – 4/1/2011
Rep Walberg, Tim [MI-7] – 2/11/2011
Rep Walden, Greg [OR-2] – 11/2/2011
Rep Walsh, Joe [IL-8] – 2/17/2011
Rep Webster, Daniel [FL-8] – 5/10/2012
Rep Welch, Peter [VT] – 6/22/2011
Rep West, Allen B. [FL-22] – 10/24/2011
Rep Westmoreland, Lynn A. [GA-3] – 2/8/2011
Rep Wilson, Joe [SC-2] – 2/28/2011
Rep Wittman, Robert J. [VA-1] – 1/26/2011
Rep Wolf, Frank R. [VA-10] – 9/7/2011
Rep Womack, Steve [AR-3] – 9/7/2011
Rep Woodall, Rob [GA-7] – 1/26/2011
Rep Woolsey, Lynn C. [CA-6] – 1/26/2011
Rep Wu, David [OR-1] – 5/4/2011
Rep Yarmuth, John A. [KY-3] – 5/3/2011
Rep Yoder, Kevin [KS-3] – 8/5/2011
Rep Young, C.W. Bill [FL-10] – 1/26/2011
Rep Young, Don [AK] – 1/26/2011
Rep Young, Todd C. [IN-9] – 3/29/2011

S 202 Co-Sponsors

Sen Barrasso, John [WY] – 10/6/2011
Sen Blunt, Roy [MO] – 10/6/2011
Sen Boozman, John [AR] – 5/24/2011
Sen Burr, Richard [NC] – 10/6/2011
Sen Chambliss, Saxby [GA] – 7/25/2011
Sen Coburn, Tom [OK] – 10/6/2011
Sen Cornyn, John [TX] – 3/28/2012
Sen Crapo, Mike [ID] – 9/6/2011
Sen DeMint, Jim [SC] – 1/26/2011
Sen Grassley, Chuck [IA] – 10/31/2011
Sen Hatch, Orrin G. [UT] – 5/24/2011
Sen Heller, Dean [NV] – 6/22/2011
Sen Inhofe, James M. [OK] – 10/6/2011
Sen Lee, Mike [UT] – 3/1/2011
Sen McCain, John [AZ] – 10/31/2011
Sen Risch, James E. [ID] – 10/6/2011
Sen Rubio, Marco [FL] – 10/6/2011
Sen Thune, John [SD] – 10/6/2011
Sen Vitter, David [LA] – 1/26/2011
Sen Wicker, Roger F. [MS] – 10/6/2011

Here’s a sample letter you can use:

HR 459 (House)

Dear Representative,

Please co-sponsor and/or support HR 459, an effort to audit the Federal Reserve.

Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.

Currently there are 227 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.

Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.

Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.

Sincerely,

S 202 (Senate)

Dear Senator,

Please co-sponsor and/or support S 202, an effort to audit the Federal Reserve.

Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.

Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.

Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.

Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.

Sincerely,

Step 3: The People

Tell everyone you know about HR 459 and S 202. 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/legislation/audit-the-federal-reserve-fed-hr-459-s202/

Banner:

Audit the Fed

<a href=”http://www.ronpaul.com/legislation/audit-the-federal-reserve-fed-hr-459-s202/”>
<img src=”http://www.ronpaul.com/images/audit-the-fed-hr459-s202.jpg” border=”0″ width=”290″ height=”127″></a>

Read the Bill

H.R.459 — Federal Reserve Transparency Act of 2011 (Introduced in House – IH)

HR 459 IH

112th CONGRESS 1st Session

H. R. 459

To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States before the end of 2012, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

January 26, 2011

A BILL

To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States before the end of 2012, and for other purposes.

    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 2011′.

SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

    (a) In General- Notwithstanding section 714 of title 31, United States Code, or any other provision of law, an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) of such section 714 shall be completed before the end of 2012.
    (b) Report-
    • (1) IN GENERAL- A report on the audit required under subsection (a) 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 subcommittee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
    • (2) CONTENTS- The report under paragraph (1) 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.
    (c) Repeal of Certain Limitations- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `in writing.’.
    (d) Technical and Conforming Amendment- Section 714 of title 31, United States Code, is amended by striking subsection (f).

191 responses to “Audit the Federal Reserve”

  1. candle

    Paul is one hundred and ten percent honest and right. Audit fed reserve if u r a tru american following the founders. Depression was manufacured. We hav a robust and hard working people bankers lets us down. Cali ca.

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  2. Ben

    The greatest problem we face is not having a free press. You don’t see very much about the Congressman in the press unless it is in a negetive light. I only became aware of many of the real issues via the internet. Only now am I beginning to understand the depth of the corruption in Washington and our State Houses. The bankers are buying our nation with our own money and if you are a threat, they will discredit you or worse. God help us all. I will support Mr. Paul because it may be the only right thing I can do for my country.

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    1. Charlie McC

      Yes, you are right about the bankers discrediting someone or worse. I believe it can be a lot worse, after all what happend to Christ after turning over the money changers tables? This war has been going on a long time and Ron Paul is a very BRAVE man to stand against them, especally now that he is really begining to get traction. I believe we should not only support Ron Paul but pray for him as well!! He is our best hope for getting control of our country back, for we fight not against flesh and blood but against principalites and darkness in high places!

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  3. Terry Spady

    Cosponsor maps!
    These maps are update every morning.

    When emailing your reps, include the link so they can see where their friends stand And too illustrate bipartisanship. These were a great success last year.

    Current:
    http://hr459map.wordpress.com/
    http://s202map.wordpress.com/

    Last year:
    http://hr1207map.wordpress.com/
    http://s604map.wordpress.com/

    On Facebook:
    http://www.facebook.com/pages/Audit…64187653?ref=ts

    Please share with your friends and family. Educate the masses about the private Federal Reserve.

    »crosslinked«

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  4. OneTinSoldier

    If the Federal Reserve System were really American and believed in the American way, it would not…

    1) Monetize the debt
    2) Print money out of thin air(Quantitative Easing)
    3) Support Collateralized Debt Obligations(CDO’s)/Derivatives to the tune of unregulated $600 Trillion in the housing market by the Big Investments Banks. I repeat, unregulated $600 Trillion. This area of investment was not being regulated prior to the 2008 meltdown! See the Financial Crises Inquiry Commission(FCIC).
    4) Treat deflation as an unnatural phenomenon that must never be allowed to occur.
    5) Treat a savings account as something that must not be allowed to accrue interest. Unless you consider 0.25% interest, while being charged an absolute minimum of 3.5% interest for a loan, interest. Of course, right now, you can’t get a loan unless you don’t need it. As Judge Andrew Napolitano would say, stated another way… if you don’t really need a loan, then they’ll give you one.
    6) Normally, people would have some incentive to have a savings account. Then, if and when deflation ever hits, there would come a point when they would see the price of item(s) go low enough to where they would have incentive to start spending the money they had been saving, due to it’s tremendous value in the form of lower prices. In a real economy, this debunks the “never ending deflationary spiral” fear mongering.

    Too Big To Fail? That is a fantasy-land idea. It’s not real nor real economics, and only foists failure upon citizens through the usury of the system.

    I could probably go on and on, but I hope you get the idea.

    Sincerely,

    OneTinSoldier

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  5. Chris w

    Go Paul go Paul we back you 100% in Louisiana come down here and get are votes I love you man we need you to run things right.

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  6. a.c.hall

    I am a retired 70 year old Englishman; with a very small amount of shares (stocks) in a global insurance company.At the moment I am very concerned about the Dollar, your Debt Ceiling and your Fed printing money, the same as the UK and Europe.If your squabbling Republicans and Democrats allow the US to Default on its Debts, the ” Blowback” around the world will be catastrophic.Because the Oil price is priced in Dollars, the World Commodity prices will skyrocket.This will cause Civil Unrest, resulting in a multiplication of the US`s enemies.

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    1. MikeinBoston

      Indeed. In fact, the UK has a higher debt to GDP ratio than the U.S. as do most “first world” countries. Japan, in fact, has the highest, I believe, which is ironic given the traditional austerity of Japanese culture. The U.S. takes the rap, but debt is an international problem.

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  7. PAUL RESZEL

    The federal reserve never did make any sense to me. especially since it is appointed and under no one’s control

    I think John must be a foreigner from the way he fractures the language.–?see him speak?
    perhaps a recipient of some of the largesse of the missing triilllions

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  8. OLDE REB

    Further, as Aidan laments, people do not understand the operation of the Fed. The Fed, as largest employer of economists, dictates the class study for college economics classes. The true nature of the scheme is not taught.

    The operation is a con game. It is based upon deception.

    If people understood the operation of the Fed, that it loans money it does not have and the make-believe money is temporarily “loaned” to Congress but must be returned to the Fed upon maturity of the Treasury security, they would rebel.

    The Fed is actually the end benefactor of all inflationary/fiat money.

    It transfers the wealth of the nation to the “financiers” from the middle class/working class via inflation who have NO OPPORTUNITY to object. The scheme has been used many times in the past and it has always bankrupted the nation involved.

    It is a fraudulent debt that can never be paid. It must progressively increase in size until the entire wealth of the nation is insufficient to continue the scheme. The scheme will then inherently self-destruct like any Ponzi scheme.

    Ref. http://www.synapticsparks.info/dialog/index.php?topic=32.msg192 ;
    http://www.scribd.com/doc/49040689

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  9. OLDE REB

    “What can be determined from an audit?” you ask. First of all, an audit would confirm the receipt of $8.4 TRILLION that was received by the FRBNY from the auction of Treasury securities last year. That sum was PROFIT for the owners of the Fed that was not reported in the ANNUAL REPORT to Congress. Would hiding of that income be embezzling? Ref. RIP OFF BY THE FEDERAL RESERVE, http://ppjg.wordpress.com/2011/03/26/rip-off-by-the-federal-reserve-how-they-stole-it-all/

    Do you think it might give some insight as to how funding to purchase controlling interest in the Forbes 500 largest companies/ mass media has been arranged for Rockefeller trusts and the CFR?

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  10. Aidan

    Furthermore, if Mr. Paul was as libertarian as he claims to be, then shouldn’t he be pushing for the destruction of the Federal Reserve? Food for thought.

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    1. PM

      One step at a time.

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    2. Sandas

      He is… Isn’t He??? Yes

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    3. OLDE REB

      If an audit of the Fed were to be completed, as authorized by Title 12, section 247, the $8.4 trillion received by the FRBNY from the auctions of Treasury securities last year would have to be examined and accounted for. Supposedly, all profit from the operation of the Fed is returned to Congress. The $8.4 trillion is off-of-the-books. It is not mentioned in any government publication. It is pure profit for the Fed.

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  11. Aidan

    Everyone,

    While I understand the importance of accountability, I do have to ask what this bill is intended to accomplish. The American people (myself included) as a whole do not have sufficient knowledge to intelligently tackle our economic problems. Furthermore, this information will quickly be mangled by the farce of mass media, further debilitating our ability as a nation to have informed opinions on the issues at hand. Yes, the Fed is largely responsible for our economic crisis. Yes, Congress has also mismanaged our national pocketbook. But the people let them do it without any significant protest; and now that they are offering protest it is largely composed of pure emotion without any hint of logic or fact. Why on earth do we hope that this audit will produce any positive change?

    Sincerely,

    Aidan

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    1. Sandas

      I feel you think that it is all emotion. However the People involved in this debate are mostly informed. and the ones that are not informed, yet, are not involved in this debate. Mostly though, People are in the need of steps towards progress in this circumstance and a half hearted questioning gets the people of this country no where. Nothing bad can come from asking questions and investigating the things that are effecting our lives.

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  12. PeoplePower

    Dear Ron, Great work if everyone was as wise as you the Federal Reserve would never of existed in the first place.
    The Federal Reserve will be audited it is inevitable & on the day i’ll press record button & watch Ben Shalom Bernanke cry on live tv, a treasure to keep forever :-)

    Go Ron Paul :-)

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  13. Eli

    why don,t we start a petition to repeal the 1913 Federal Reserve act.IRS etc. get it on an amendment in congress by populist vote and get rid of it once and for all , period .

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  14. OLDE REB

    The law, specifically Title 12 section 247, mandates: “The Board of Governors of the Federal Reserve System shall annually make a full report of its operations to the Speaker of the House of Representatives…”

    The FRBNY received $8.4 trillion from the auctions of Treasury securities last year. Ref. http://beforeitsnews.com/story/513/311/RIP-OFF_BY_THE_FEDERAL_RESERVE.html

    There is nothing in the ANNUAL REPORT TO CONGRESS acknowledging receipt or expenditure of these funds.

    Can the law be enforced by Congress ?

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  15. John Maslowski

    I have requested an appointment to meet with one of my senators to ask him to cosponsor S. 202. I plan on doing the same with my other senator and congress woman. I am going to have the text of the bill spiral bound at Kinko’s so it will be neat when I meet with them. Please meet your representatives and ask them to co-sponsor H.R. Bill 459/S.202. Thanks!!

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  16. genep34

    Wow! People are waking up. We don’t need the puppet media if we all go out and push this ourselves. I try to talk to people without getting too excited lest they think I’m a nut job. THE MONEY MASTER will certainly help to open peoples eyes. Glenn Beck finaly got on the subject after they canceled his show but that O’Reily is either ignorant or a coward. I stopped watching him either way (he’s a war monger). Anyway I hope you all give what you can to support Dr. Paul. I don’t see any other way out of this mess.

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  17. Kristoffer Schmitt

    We the people of the Republic, do reserve the right…
    To call forward for complete and thorough inspection…
    Any and all (sets) of books, computer hard drives, electronic communication devices, along with any and all documents deemed by the Republic or your incorporated institution to be of interest or in any way pertain to All monies, (fiat or otherwise), that (a) ARE flowing, (b) WILL flow, or (c) HAVE flowed through our Republic’s legally contracted banking institution, to wit “The Federal Reserve inc.”..
    The Republic’s stated purpose for said self audit of our own grave financial standing will be two fold and as follows..
    1-To discover the real and actual grave depravity, that was intentionally set forth by said institution..
    2- The utterly obscene levels to which the volume of the ongoing and perpetual criminal deceit and scheme to defraud that was perpetrated against the Republic by and/or for, the aforementioned privately held banking institute, is ratcheted up to..

    It’s been stated by some that..(a) Although only a FICTIONAL rock band..(b) The performance artists (Doing Business As) WE ARE SPINAL TAP©, while not being bound by legal contract, local law, state legislation, Federal regulations, nor the US constitution, as it pertains to this matter..(c) Do purport to have in their possession, (d) one FICTIONAL sound amplifying device..It is further stated by persons known to the Republic that said FICTIONAL amplifyer, under certain circumstance, (e) could be dialed up one additional, and thought to exist no where else, extra notch.. (f) Said FICTIONAL notch would be referred to as “11″…(f) It is however; important to note that the trust and responsibility that accompany FICTIONAL “11″ are considered to be vast..(g) The FICTIONAL band members have publicly stated, even whilst having no legal obligation to do so, that FICTIONAL number “11″ would only be used, and this is in their in their own language, “To blow their onlooker’s minds”.. (h) The members of this FICTIONAL rock band clearly underdstood that the most important element to maintaining a true relationship with their onlookers was transparency..They had the moral fortitude to be open and honest by lifting the vail on FICTIONAL “11″..Well played, you are FICTIONAL men of honor..
    Furthermore, it does appear from where the Republic stands that a REAL business with REAL public trust has cranked their REAL “mind blowing” volumes to the REAL “Nth” degree..Thus resulting in the ironic fact that their REAL onlookers REAL minds, can be blown no further..
    Additionally it’s become clear to all the Republic that the inhumanity of soul and moral decomposition needed to engage in the literal assassination of a nation’s entire economy could only be possessed by the filthiest kind of sociopathic personality..These are the individuals who will be found to have their fingers on the REAL volume knob of ther REAL amplifier that will never blow the REAL minds of it’s REAL onlookers again ..
    And please, please, please gentlemen, if you know nothing else, know this..
    Tonight, after you kiss your psudo-wife goodnight and you snuggle up to your pillow, bare in mind that when you finally wake up from your slumber, you will most assuredlybe one day closer to your demise.. You will be discovered!

    We to have a secret, a REAL one, and his name is Dr Ron Paul..The hounds of hell have been unleashed on you and your dark institution and for ther record there will be no escape..
    May the REAL God have mercy on all your souls and the souls of all your loved ones, cuz it’s ’bout to get REAL medievil up in this piece..

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  18. OLDE REB

    Dear Mrs. Hartzler,

    I request that you give consideration to House Resolution 459 regarding an audit of the Federal Reserve.

    It is my understanding that the Federal Reserve handled and received $8.4 trillion from the auctioning of Treasury securities last year. None of this income has been recognized in the information given to Congress in the ANNUAL REPORT or in any other public document. It is assumed to be pure profit to the Fed. Concealing of this profit from public records would appear to be embezzlement. Ref. http://www.scribd.com/doc/48194264/rip-off-by-the-Federal-Reserve-revised

    Thanks again for any support of the proposed legislation.
    Your constituent,
    Harrisonville, Missouri 64701

    Cc Congressman Paul

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    1. j gevara

      I don’t request anything. I DEMAND! Let’s not forget who runs this show. they work for YOU, they’re your employees. Somehow this has been misconstrued. Time we put it back on track.
      Dear Sen/congressman, I suggest you vote to extend unemployment benefits indefinitely. ‘Cause you’re gonna need ‘em if you don’t start doing what we, the people, tell you to do.
      Dead serious,
      Your pizzed off employer

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  19. Raymond

    QE2 is encouraging the world people to play money games instead of real productive/service/…etc jobs now.

    I really hope there is someone who can save the world & let at least the USD stable enough & can be used in business.

    I am not an American, but
    there are already too much money around us, being influenced for quite a period of time, I even can not imagine there will be QE3…etc. ( I think Japan is already proceeding QE3…)

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    1. OLDE REB

      I see QE x as a desperate attempt to keep the banks from having to expose obvious bankruptcy. If all of the mortgages held by banks were marked to market, the written-down assets of the banks would show bankruptcy. If all of the banks failed, and homes were seized, we would have a R3volution and the Fed would be on the hot-seat.

      The OMC’s pouring money into circulation with QE‘s buying any kind of asset, especially toxic mortgages, tends to inflate the housing value bubble and keep the banks’ mortgages elevated. Voila ! The banks look like they are in better shape and the fraudulent mortgages are glossed over.

      Any belief there is stability in the dollar does not understand the math of the Fed’s Ponzi scheme. It is inherently self-destructive.

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  20. peter bayliff

    Yes Yes Yes away with the old in with the new.I am for bringing to light this darkness, Ron Paul you be the Man, I vote yea

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  21. OLDE REB

    I had a thought. If the FRB of NY and the Board of Governors received $8.4 trillion from the auctions of Treasury securities last year, and that income was not reported to Congress in the ANNUAL REPORT TO CONGRESS BY THE BOG (it is not reported on ANY financial accounting record of the Fed or of the U.S. Treasury), is that embezzlement ?
    Ref. http://www.scribd.com/doc/49040689

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  22. Diana

    let’s do it !!! Pass the bill & audit the Fed.

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  23. OLDE REB

    A complete audit of the FR would be very informative. It would be easier to ask Ben, under oath before congress, what happened to the $8.4 trillion that was received from the sale of T-securities last year. If Ben says it went to roll-over the securities issued in previous years, it could be pointed out that such a procedure could not in any way result in national inflation–any more than the payment of taxes by a corporation. The $8.4 TRILLION went into the pocket of the Fed as profit—and there is NO report of that on the Fed’s books. If Ben says the NY Fed handles the books and he does not know about it, subpeona the NY Fed president. Ref. RIP OFF BY THE FEDERAL RESERVE, http://www.scribd.com/doc/49040689 or
    http://www.synapticsparks.info/dialog/index.php?topic=32.msg192

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  24. SusanLeff

    Someone asked the question, “Why do we not hear about this in the media?” The reason for that is, the same secret group of men who control the Federal Reserve also control most of the mainstream media. They not only control our money supply, they also control what information we will be allowed to receive through the media regarding the secret actions of the Fed. AND, because they control the media, they have inordinate power over what the people will hear about presidential candidates. Example, in the last presidential election, they mentioned Ron Paul’s name in the media approx. 4000 times; yet they mentioned John McCain’s name 95,000 times!!! They are afraid of Ron Paul, because he wants to audit and possible end the Fed, so they gave him no coverage, and since most people get their news from the MSM, nobody knew enough about Paul, so McCain won the nomination. That could be about to change. The Tea Party revolution has enormous power now, and if everyone would view “The Money Masters” on YouTube, we would ALL want Ron Paul to run and WIN in 2012. He was the frontrunner at the CPAC convention for a very good reason. Let’s get behind him! He has dedicated most of his career to ending the monopy and corruption of the Federal Reserve.

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    1. Nate

      EVERYONE SHOULD WATCH “THE MONEY MASTERS” I just finished & it changed my life….REVOLUTION!!!!!!!

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    2. Kristoffer Schmitt

      Hello Susan, Happy Easter..
      My name is Kris and your post really caught my attention, mostly because you alluded to a group of secret “evil doers” that seem to control all the strings..
      This topic, as a whole, has really attracted my attention as of late for reasons I don’t even know..
      All that being said, I was hoping you may be able to guide me on my journey of discovery..

      Thank you in advance for your time..
      -Kris… Sector32abc@gmail.com

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    3. FrankMachnick

      Here you are folks.. Money Masters on YOUTUBE http://www.youtube.com/watch?v=JXt1cayx0hs

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    4. FrankMachnick

      Here you go folks, MONEY MASTERS on Youtube: http://www.youtube.com/watch?v=JXt1cayx0hs

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  25. SusanLeff

    If every concerned citizen would view the film “The Money Masters” on YouTube, then all of us would understand how the Federal Reserve is a PRIVATE bank, controlled by a handful of men whose names have been kept secret. Their goal is to collapse the dollar and the US economy in order to create one world bank and a new world order. Sounds fantastic, doesn’t it? Watch the film, pass it on to all you know, and Ron Paul will then appeal to you as the only possible presidential candidate to stop the iminent destruction of our Republic. Every Tea Party organization in this country should be viewing this important film, free on YouTube. If too lengthy for you, watch “The Secret of OZ”, also on YouTube. You won’t regret it.

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  26. Corey

    i love ron paul

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  27. Government Man

    You people are insane if you think we at the government will ever let this pass. Inflation is what sustains the government, allows us to buy your votes, and enrich ourselves at your expense while aiming your anger at those we’d like to tax more.

    The Fed is our cash cow. We’re not so stupid as to turn it off.
    youareproperty.blogspot.com/2010/10/how-we-ripped-you-off-with-inflation.html

    I knew I made a good call when I got a government job.

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  28. wentbackward

    I’m not even American, but support Ron Paul and this act, I just want to protect my family and the little savings we’ve managed to pull together. We’ve sold all our US$ and stashed away some real gold.

    I thought this was law, it still is in China … Shouldn’t Bernanke and his employers be sentenced to death for the manipulation of the American Dollar and the countries monies, shouldn’t they be running from the country? But where too? Hundreds of thousands (maybe millions) of people that have starved to death in the aftermath of the artificial asset bubbles in USD. In the UK a decent couple say a family of four with two working parents, a doctor and a nurse, cannot even afford a home, let alone be able to take care of their parents.

    As all CCY is underpinned by USD, the Fed (not America, I might add) is a global problem. What can non-Americans do to help support this and protect world liberty?

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  29. Rudy Bernal

    just e-mailed my Senator and Rep!! I support this!

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  30. Joe DAgostino

    Why do we not see this brought out to the public. Every political show, never mentions this. Meet The Press, Lou Dobbs, Glen Beck,etc never, never , bring this up. Why not? I support your effort. The Fed must be under audit. I want to know where the $9 Trillion in “Off Balance Sheet” expenses went!
    Joe D’Agostino
    Licensed Mortgage Banker
    (If you think America has problems…try being in my profession.)
    Now come April 1,2011 the Fed wants to restrict my income. This is ilegal!

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  31. Felipe

    Keep fighting to audit the Federal Reserve and to bring Liberty to America, I dont live in the US but you have my support all the way from Chile.

    Ron Paul is our hero too!

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  32. Deborah Dills

    If you ask most people if they think the Federal Reserve is part of our government, they think it is. I even ran this by my father, who I think is intelligent ,and he thought it was. He had no idea that the Federal Reserve is a “private bank” made up of 13 banks. It is not federal at all and has been the biggest ponzi scheme against the people. Grand theft on the highest scale!

    What the American people want to know is “Where did THEIR money go for the bank bail out? Who got the money? Which banks got the money? When asked by Elizabeth Warren (Consumer Financial Protection Bureau) to Timothy Geithner (Secretary of the Treasury ) “can you tell me which banks got the bail out money and where did it go”?Geithner mumbled and stumbled but did not anwer her. Why? Because as they say he was” in bed “with the bankers since he was at one time the President of the Federal Reserve Bank of New York (2003).

    All States need to break away from the Fed and create their own state bank just like North Dakota didwhich is the only state in the union so far that has done this, but about 10 – 15 more states have legislation on the floor to do just that in their own states. Why? Because any interest earned by the state banks on the tax payers’ money will go back to the state to help pay for roads, schools and other such things. It will keep the money in each state.

    Read the books : Web Of Debt and Gods of Money-excellent reads.

    Please get rid of the Fed Now!

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  33. john

    Hidden due to low comment rating. Click here to see.

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    1. Matt H

      nay-sayers……soo negitive and depressing, your like the sad alcholic bore that wants to make everyone else sad and depressed.

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    2. kensei

      john, clearly you’re an idiot.

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    3. Mike

      Thank you for introducing us to the largest run-on sentence ever created. Wow. And you want people to take your comment seriously?

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    4. Pathenry

      What do you think he’s been doing? Did you listen to the Republican debates during the last primaries? Why do you think he is selling books?
      I am not sure where you are coming from?

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    5. OLDE REB

      John is not an idiot (a permanent mental condition); he is merely uninformed.

      John claims the Fed is not subject to audit. In effect, wrong. Title 12, section 247 clearly mandates that the Board of Governors shall make a full annual report to Congress of the FR system.

      The FRB of NY received and handled all of the recording and money from the auctioning of $8.4 TRILLION of Treasury securities last year. There is a total void in the Report as to what happened to that money.

      The public is told the funds were used to roll-over maturing securities. If that were true, there would be no inflation. Those funds, in whole or in part, are clear profit for the Fed. To whom it goes is not disclosed. The absence of reporting these funds appears to be in violation of the law and could be subterfuge.

      It is clearly established that profit beyond operating expenses of the Fed belong to the government. Interest from securities owned by the Fed that exceeds operating costs is returned to the government. The courts have also confirmed the practice. Ref. Scott v FRB of Kansas City, 405 F3d 532, 535; In Re Hoag Ranches, 846 F2d 1227.

      Does the concealment of $8.4 trillion from congress constitute embezzlement ?? Only Congress will determine.

      In looking at Title 31, section 714 (b), subparagraphs 1,2,3 and 4, it would appear that an audit by the GAO of the NY Fed’s records relating to the handling of auctioned Treasury securities is already authorized. Such records do not involve monetary policy or Open Market operations.

      The Fed is not above the law as John suggests. Two recent incidents with Senator Sanders and with Bloomington are sufficient evidence. The Fed exists ONLY by law codified in Title 12, sections 221 to 522. Most of that law was written by the Fed and presented to Congress for its blessing.

      If the Fed is allowed to continue, the entire wealth of the U.S. including that of posterity, will become the property of the “financiers” of the Fed—including that of John.

      Ref. http://ppjg.wordpress.com/2011/03/26/rip-off-by-the-federal-reserve-how-they-stole-it-all/

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  34. Omar

    Audit this bill. The federal reserve thinks it can run things its way. They are so powerful and must be stopped.

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  35. Michael Greenker

    Dr. Paul,

    I am in full support of this bill. However, I looked up several online copies of section 714 of title 31, United States Code, and it does not appear to contain a subsection (f). Has the subsection already been stricken, is it hidden from the public eye, or are you intending to reference another subsection in your bill?

    Your Skeptical yet Hopeful Liberal Friend,
    Michael

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