The Federal Reserve, the counterfeiters who inflate our money supply and whose easy-money policies have given us over 80 years of depressions, bubbles, and booms, is starting to sweat. Rep. Ron Paul (R-TX)’s “Audit the Fed” bill, HR 1207, is gathering steam, as CQ Politics notes:
He may have faded from the national political scene a year ago, after his dark-horse presidential run came to naught, but Rep. Ron Paul ’s influence is still being felt in campaigns and policy debates across the country. Indeed, the latest legislative priority of the libertarian Texas Republican — auditing the Federal Reserve — has gained support in unlikely quarters.
Paul’s legislation, popularly known as the “Audit the Fed” bill, has drawn 244 cosponsors, ranging from Ohio’s John A. Boehner , the conservative Republican floor leader, to Michigan’s John Conyers Jr. , the liberal Democratic chairman of the Judiciary Committee. Some Democrats have even picked up on Paul’s rhetoric. “It’s time to yank the shroud off the Fed and shine some light on these events,” New York Democrat Edolphus Towns , chairman of the Oversight and Government Reform Committee, said at a hearing last week about the shotgun marriage between Bank of America and Merrill Lynch last fall to stave off the latter’s collapse.
Paul’s efforts have only gained in political significance since the Obama administration unveiled its proposal to give the Fed new powers over the financial regulatory system.
It is good to see some bipartisanship in Congress that doesn’t involve arguing over which party will give more money to Obama to rain down bombs on Muslims.
Both liberal Democrats and conservative Republicans have signed on to Paul’s bill, which would force the Federal Reserve to show exactly where every penny it printed up was spent. As you can expect, the head of this criminal institution Ben Bernanke has said that this bill would mean a “takeover” by Congress and “threaten the financial system, dollar, an economy.” Let me get this straight. The Fed prints up trillions of dollars out of thin air, artificially lowers interest rates to increase poor and malinvestment of capital, and gives Americans the rope of cheap credit to hang themselves with.
Who exactly is the threat to financial stability?
Comments
Great article but you forgot to mention that Bernanke's warning that a Congressional 'takeover' is exactly what the Constitution cites as being one of the duties of Congress. In fact the Congress handing over the creation of money to the Fed is and has never been Constitutional. We need a Congress that is willing to carry out their Constitutionally proscribed duties instead of being a lap dog to a consortium of independent foreign banks and bankers.
It's time to audit, prosecute and trash the Fed.
A full audit of the Fed is a great first step in openness and transparency. Kudos to Ron Paul for speaking about this for the past couple decades.
Well said. So true!
"Ben Bernanke has said that this bill would mean a takeover by Congress"
Say it isnt so. And here I was thinking that under the Constitution, coining money and regulating the value thereof was one of the chief prerogatives OF THE CONGRESS.
And then there's this audit itself to think about. Man...just think how much WORK Congress will actually have to be doing- work theyre actually obligated to do under the supreme law of the land, no less.
We can only hope they'll still have time to accept bribes from lobbyists and issue their "official disapprovals" of protest crackdowns in countries on the opposite end of the planet.
something has to be done about these rothschilds there been around 250 years there a bunch of sociopaths, just read there marry there 1 and second cuzins to keep the money in the family.
seems like the only country taking them on is russia the russians dont trust jewish bankers like we do.
there been fighting them for 250 years. putin is putting there asses in check.
great article, thanks much!
This is too much of an idealist's bill. Let's not forget that the majority of Americans are brainwashed zombified somnablists. That said, they will continue to believe all the lies that the Fed keeps telling them, and they will not support this bill. With the support of the people the senate will easily vote down this bill and it won't even reach the oval office. And even if it does reach Obama he is on the Feds payroll, so he will veto it. Don't get your hopes up too much for Ron Paul. Look at what the elites of this country did to him in the primaries. They laughed in his face at the debates, completely discrediting him to the majority of voters.
Essence of the Fed, let nobody tell you this is too idealistic, it is the core, and no plolitical system comes before it, socialism, Communism, Facists, Republics, Democracy's, Totalitarian Dictators all bow to this culture, it defines Greed. The single most dangerous information about the Fed has been hidden from the general poulation. It has been gaurded through a carefully crafted image in its name, and even the titles of those who head the various Fed Banks. This ultimate goal describes the reason for its structure and its organization. It is its ESSENCE its heart and soul. If this information gets out to the general public, it will lead to the Fed's destruction. What is it...The Ultimate Goal of the Federal Reserve Bank, its highest purpose, that is more important than human life itself is "To create and increase the wealth of its founders and owners" nothing else comes before this goal. Every action ultimately leads to this goal. Nothing comes between the Fed and this goal.
Two hundred and forty-four co-sponsors!! And we still can't get an up / down vote!!!! Why? Because of one curdled cartoon character on the Finance Committee: Barney Frank. Maybe all it will take is adding a rider(at 3 A.M. the day before the vote) requiring every House session to open with dancing male strippers.
Arithmetic and real value is hell; right, Bernanke.
PERSONALLY I HOPE IT IS A TAKEOVER BY CONGRESS, MAYBE SOME BODY ELSE THAN ALL THE CROOKS FROM TREASUREY DEPT. GEITHNER, WHOSE FATHER WAS FRIEND OF OBAMA'S MOTHER, INTERESTING, I WILL HOPE AND PRAY RON PAULS BILL WINS.
WHY DOES NOTHING SURPRISES MW, OBAMA IS GOING TO LET RUSSIA HAVE ALL THE NUKES WHILE WE DESTROY OURS. AMERICA'S DEFENSES ARE GOING DOWN,DOWN, WHILE THE TREASURY BERNAKE IS TRYING TO CONVINCE ALL THE LEFTIES, CONGRESS WILL TAKE OVER, GOOD, THAT IS PART OF THE CONGRESS'S DUTIES TO BE INFORMED ABOUT THE PRINTING OF MONEY, ESPECIALLY MONEY WITH NO GOLD OF SILVER BACKING IT, MONOPOLY MONEY?
FROM WHAT I JUST READ ON ANOTHER SITE, A BILL PASSED THAT 20 BILLIONS DOLLARS WAS TAKEN TO FUND HAMAS EMMIGRANTS TO COME TO USA, THIS BILL WILL PROVIDE HOUSING, FOOD AND ALL THEY NEED TO LIVE IN USA. THANKS OBAMA, NOW WE WILL HAVE MORE SHARIA LAW.
JUST READ RON PAUL'S BILL BLOCKED BY PROCEDURAL PROBLEMS WHICH WOULD HAVE BEEN OK, IF THIS WAS A DEMOCRATE BILL, STRICTLY POLITICS, WHICH I AM 100% SICK OF, WE WILL GO DOWN AND DOWN IF THE POLITICIANS WE HIRE DO NOT DO AS THE PEOPLE WANT AND THEY WON'T, TOO MUCH GREED, DECEITFUL PEOPLE IN CONGRESS WHICH WE VOTED IN, NEVER AGAIN,
I AGREE WITH THE ABOVE POST, AUDIT, PROSECUTE AND TRASH THE FED, LEAVE THE CONSTITUTION AS THE ONE OF THE DUTIES OF THE CONGRESS. DO ALL THOSE PEOPLE HAVE HORNS AND A TAIL, I AM BEGINNING TO THINK SO.
DOES ANYBODY REALIZE JUST HOW MUCH MONEY THESE FOOLS IN CONGRESS MAKE, PELOSI OVER 6 MILLION DOLLARS TO STRUT AROUND AND LOOK FAT, THE OTHERS FRANK, DODD IN SLIDING SCALE, THEY TAKE TRIPS, THEY TALK TERRIBLE ABOUT AMERICAN PEOPLE SAY WE ARE STUPID, DUMB ETC. WELL I FOR ONE HOPE BERANKE IS FIRED, ALL MONEY MAKING SHOULD BE UNDER CONGRESS, FIRE ALL THE ONES NOW AND VOTE NEW DECENT ONES IN WITH TERM LIMITS.
JUST LEFT A SITE THAT SAYS THE FEDERAL RESERVE HAS SUSPENDED THE CONSTITUTION AND NOW USA IS A CORPORATION, WICH MEANS PRESIDENT/CHANCELLOR OBAMA DOES NOT NEED TO FURNISH NATURAL BORN CITIZEN STATUS, ASKED MY SON, HE SAID THAT HAPPENED 1913 WHEN THE FEDERAL RESERVE WAS FIRST STARTED, SITE SAYS WELL KNOWN LAWYERS WERE COMPLETELY SURPRISED. I AS A VETERAN OF WW2, TOOK MY OATH OF ENLISTMENT TO U.S. MARINE CORPS. ON THE CONSTITUTION, E
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