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"There is no entity in the world that controls our lives more than the Federal Reserve System" - Harry Reid, 1995. While Harry Reid admits the unchecked power of the Federal Reserve, he has failed to act to provide oversight of the central bank. Despite the concentrated power of the Federal Reserve, it has little accountability from Congress or any branch of government.
In 2012, the US House of Representatives voted overwhelming in favor of more transparency in monetary policy by supporting an audit of the Federal Reserve. House Resolution 459, Audit the Fed, enjoyed the cosponsor ship of over 100 representatives and passed the House of Representatives 327-98. Yet, the Senate didn’t even give the bill a second glance. Despite Harry Reid earlier warning about the Federal Reserve, he blocked the legislation from any discussion or vote on the Senate floor.
However, in 2013, Senator Rand Paul’s has reintroduced the bill, S. 209, to bring transparency to the Federal Reserve. While the house retains a lot of support for a full audit, the Senate currently has only 24 co-sponsors. Stand with Rand and 80 percent of Americans who favor auditing the Federal Reserve to create more monetary oversight. Respectfully urge the Republican Senators (below) and Democratic Senators to support S. 209 to bring increased transparency to the Federal Reserve.