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The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.
"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down,"
Originally posted by dreaken1993
if americans were willing to march to these peoples places of stay and enact a civilian arrest they would have to be prosecuted and their is tone of evidence, plus they would be charged for treason
but lass, no one has the heart to do it and if only a few do it we will get nowhere but everyone just wants to sit back and let the ron pauls and alex jones who dont do anything but complain just like all of us on here
Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges... which are employed altogether for their benefit.
Ron Paul’s HR1207 is Unstoppable! 207 Cosponsors now
June 9th, 2009 8:12 pm | by Marc Gallagher
According to Matt Hawes at the Campaign For Liberty Ron Paul’s HR1207 to audit the Federal Reserve now has 207 cosponsors, including House Minority leader John Boehner!
One has to believe at this point that HR1207, in some form, will be passed by the House of Representatives. This is one bipartisan regulatory bill we can fully get behind.
I have serious reservations about the efficacy of HR1207, but as I’ve stated in the past it is a good start down the road of transparency that we truly need. We can only hope that such transparency, if passed, forces the Federal Reserve into a position of making very careful choices about how it conducts its business.
From Matt Hawes at the Campaign For Liberty:
Earlier in the day, we reported that HR 1207 is now up to 200 cosponsors.
I’d like to correct that… by changing it to 207!!!
Rep. David Dreier (R-CA)
Rep. Steve King (R-IA)
Rep. John Boehner (R-OH)**
Rep. Ed Perlmutter (D-CO)*
Rep. Chris Lee (R-NY)*
Rep. Mike McIntyre (D-NC)
Rep. Jim McGovern (D-MA)
* House Financial Services Committee Member
** Minority Leader, House of Representatives (Yes, you read that right!)
This means that just 10 more cosponsors are needed to attain a House majority. Our tracking page should be updated as soon as thomas.loc.gov updates the official count.