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Members of Congress will holding a hearing tomorrow on a plan by U.S. Rep. Ron Paul, R-Texas, to audit the Federal Reserve, which oversees U.S. monetary policy, and his supporters are calling it a precedent-setting event.
"This is history in the making and victory is within reach," said a statement on the RonPaul.com website, which is maintained in support of the congressman but is not linked to him.
The Federal Reserve, an independent organization apart from the U.S. government, largely has operated behind a veil of secrecy for decades, but Paul told WND its operations could be about to face the light of day.
The hearing today is before the House Financial Services committee, and the plan should be ready for quick approval. It has co-sponsorship from nearly 300 members of the 435-member House – including all of the Republicans and a significant number of Democrats.
Federal Reserve officials, meanwhile, are "fighting tooth and nail" against releasing
any information sought under several lawsuits already in the court systems, he said.
The U.S. Government Accountability Office (GAO) is known as "the investigative arm of Congress" and "the congressional watchdog." GAO supports the Congress in meeting its constitutional responsibilities and helps improve the performance and accountability of the federal government for the benefit of the American people.