Ron Paul, Bill to Audit the Fed

By Joseph Onorati on Mar 10, 2009

Ron Paul has introduced H.R.1207: Federal Reserve Transparency Act of 2009 to Congress and it's been referred to the House Committee on Financial Services.  According to Campaign for Liberty, "The Fed has so far resisted attempts to provide information on how it is spending the bailout money and currently dictates how accountable it will be to Congress.  Since its creation in 1913, the Fed's control of money and credit in this country has resulted in a 95% devaluation of our dollar and the piling up, just in the last year, of almost $10 trillion in bailouts and loans."

You can read the whole bill in less than five minutes!  Unlike the stimulus and omnibus, this one is short and doesn't include any pork!

The Campaign for Liberty has a series of links on sound money for an alternative to the Federal Reserve System that can be found here.  George Selgin at West Virginia University has a podcast with Russ Roberts at George Mason University about free banking that can be found here.

That is a good idea. I will support the petition is there were one. The Fed has been gaining too much authority. New hiphop songs Miami

Something very good i must say all the visualization are very good liked the way its been presented.. Well done mate. Online High School Diploma AND Online GED AND Homeschool Online

Raising taxes is not advisable nowadays because the people are still "recovering". What we need now is good governance with unconditional aid especially to the needy. Online Accredited High School AND Adison High School

One of the biggest and most important institutions in the world, also need to be audited. There is just time to be more open to the people. WE do need a better system. advertising |jobs |walk in tubs

I won the primary based largely on my populist Green message: I believe that now is the time to communicate to Americans that we must organize and wage political war on the banks, who have been at war against the working and middle classes for decades. From ATM fees and overdraft fees to predatory mortgages, the major corporate banks in the United States have continually preyed on the most vulnerable members of our society. Let's fight back: First and foremost by ending the bankster bailouts and by fighting to reverse already approved bailout appropriations.

Any activity associated with money should be carefully checked and verified in order not to make any perplexity. Hoax does not just happen in the government. Only 23 people this year were able to pull off a superfecta. The superfecta is correctly guessing (i.e. betting) the top 4 placing horses at the Kentucky Derby. It appears to be about more or less plain luck, as the winner was the 50 to 1 underdo, Mine That Bird. The trifecta, is about as hard, as guessing the top 3 accurately. If a person were to bet every combination to make it, it would cost more than a payday loan, as the maximum bet is $1, and there were 93,024 different permutations of the placement. (93,024 different superfecta possibilities.) Still, the superfecta winners came away with cash advances of about $278,000.
Great News on HR 1207 "Audit the Fed Bill" This past Tuesday Patriots across the nation joined Campaign For Liberty in dropping Signed Petitions to local district offices while volunteers joined CFL National on the Hill (DC) to hand deliver 43,000 signed petitions...as a result the bill now has a whopping 113 Co-Sponsors..up from 91 on Monday.... Oor goal is to get 218 Congressmen/women to sign on so that the bill will go to the House floor for a vote... Please stop by www.campaignforliberty.com and download some petitions and help get them signed from folks in your district. Keep the emails, phone calls and faxes rolling... we are gaining momentum on this fight....Help us get this bill to the House Floor...Contact your representative today!! In Liberty, Gin
Thanks for the response! Good luck to Ron Paul and the Campaign for Liberty! Keep up the great work! I sure hope this passes and the Fed doesn't come up with some way to get out of it--I'm always suspicious of government. Joseph

It is estimated the FED can buy our currency for approximately .04 per note while charging the taxpayer usury, and other interest at note face value, so if the government is buying $100 dollar bills today, the at cost .04 debt note is costing us the taxpayer $200. Is this really the way we want to continue living as slaves to international banking interests.

Federal Reserve Banks are already audited. You can download their balance sheets for all of the 12 FRB's on their individual websites. The reason they keep their transactions with their member banks (Stockholders) secret is so there will not be runs on those banks or shorting on those bank stocks. The FRB's are corporations not owned by the government so the legality of GAO audits is questionable. The Board of Governors in Washington D.C. is not a bank, it uses for the most part the Federal Reserve Bank of New York for its transactions. When you hear on the news the "balance sheet of the FED" they are referring to the FRB of NY balance sheet, which is updated every thursday on their website. Since technically the employees of the Fed in Washington are not Government employees, they may not legally be subject to GAO audit. Since the employees of the 12 FRB's are private sector corporate employees subjecting them to GAO audits opens up a very scary door.
At Least Audit the Federal Reserve Sir Josiah Stamp, President of the Bank of England (1880-1941) was quoted as saying that banking was conceived in iniquity and born in sin… if you want to continue to be the slave of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit.— 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. It is estimated the FED can buy our currency for approximately .04 per note while charging the taxpayer usury, and other interest at note face value, so if the government is buying $100 dollar bills today, the at cost .04 debt note is costing us the taxpayer $200. Is this really the way we want to continue living as slaves to international banking interests. I say this bill is a good start to within this administration calling an end to the Federal Reserve System, returning the power to coin money to the people.
When Dr. Paul introducted HR 1207, we started a group on Facebook to support it. Within a week we had 1,000 members. In this second week we are closing in on 2,000 members. The great thing is that the number of co-sponsors of this important legislation has also more than doubled in the same time period. If you are interested, join the Facebook group to Support HR 1207 www.tinyurl.com/AuditTheFed Write your congressperson and ask them to co-sponsor!
To: Chicago Progressive Community, From: Matt Reichel, Green Party Candidate in the special election in Illinois's 5th District The vacancy created by the departure of Rahm Emanuel from Illinois's 5th District has presented an excellent opportunity to implant progressive rhetoric into the debate surrounding the election process. The Primary Election season was highlighted by the first contested Green primary for a non-presidential race in Illinois history, as I ran against Deb Gordils, Mark Frederickson and Simon Ribeiro for the privilege of being the Green Party nominee in this high profile election. All four Green candidates were invited to the vast majority of the forums and debates, and we made the most of it: in general, we received the most raucous applause and the most visible expression of interest from attendees. I won the primary based largely on my populist Green message: I believe that now is the time to communicate to Americans that we must organize and wage political war on the banks, who have been at war against the working and middle classes for decades. From ATM fees and overdraft fees to predatory mortgages, the major corporate banks in the United States have continually preyed on the most vulnerable members of our society. Let's fight back: First and foremost by ending the bankster bailouts and by fighting to reverse already approved bailout appropriations. Let us also draw a clear, thick line between us progressives and Democrat Mike Quigley, the "reformer." With our country in crisis, we don't have time for reforming the machine of Chicago politics. We must organize to defeat the Machine. We can't afford to compromise on the most pressing issues: the ongoing wars of Empire in Iraq, Afghanistan and Pakistan, the overspending on bailouts of this nation's criminal Wall Street class, and the lack of comprehensive universal single payer health care. The Chicago Sun Times and Chicago Tribune, who together essentially coronated Quigley as our next congressman with their endorsements, are busily painting Quigley as an "outsider." However, Quigley began his political career working for machine alderman Bernie Hansen, and he has always worked squarely within the machinery of the Democratic Party. Furthermore, he lacks the courage and passion to press on the aforementioned issues: the most important ones facing this nation in a time of economic peril. Let us get our message out there! You can help today by visiting our website, www.mattreichel.us and donating and/or signing up to volunteer. We are also running group canvasses each weekend day, every Saturday and Sunday, at 2pm. Meet at the office at 1726 W. Carmen. For more information about my stance on the issues, please visit the issues page of our website, http://www.mattreichel.us/theissues.php, or contact the office directly at 773-961-8257. I thank you for your work as activists in our community, and I look forward to continuing to work with you for the greater cause of peace and social justice. Sincerely, Matt Reichel www.mattreichel.us 773-961-8257
thanks for the well written piece Joseph Let me add this important link Lobbying pack to send your Representative with a draft of a letter for your congressman: http://distractiblehominid.blogspot.com/2009/03/lobbying-pack-for-hr-120... you can find your representative by visiting http://www.house.gov/ then enter your zipcode in the top left corner to find your congressman Only takes 5 minutes Time for people to contact their Representatives & Senators to co-sponsor this and vote for it I mean who wants to tell his or her constituents that they dont want to know where the Federal Reserve is sending their money? who? but will Pelosi & Barney Frank let this pass committee? Ron Paul is going against a multi-trillion dollar industry with many wealthy bankers & Billionaires who prefer to remain anonymous while they suck the tax payer dry Its an uphill battle but the people are behind Dr Paul & I hope God wont let those cronies harm him. Ron Paul 2012 & Beyond !!!