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Panel votes to audit the Fed! It will cap its spending at $4 trillion

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posted on Nov, 20 2009 @ 12:42 AM
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This is huge.

For anyone supporting the bill set forth by Ron Paul and Alan Grayson to audit the Fed and bring some of the veil of transparency down, this is a landmark, historical decision that could potentially have a sweeping impact on the world's most powerful, yet secretive, institution: The Federal Reserve.


WASHINGTON (MarketWatch) -- Rep. Ron Paul, who has sought to audit the Federal Reserve for 26 years, has inched ever so much closer to his goal.

A key congressional panel on Thursday approved legislation introduced by the Texas congressman that - for the first time in the central bank's 95-year-history -- would require government audits of Federal Reserve monetary policy, as well as how much the central bank has lent and will lend to specific banks. Fed Chief Ben Bernanke and other key members of the Obama administration, including Treasury Secretary Tim Geithner, had vigorously opposed the move.


Source: Market Watch

The political, monetary and SHTF implications of this audit, which sadly will take 12 months, will truly shed some light. Let us hope that it will pass the Senate as well.

It is nice to see Ron Paul get a break. this bill had overwhelming BIpartisan support, even though Barney Frank is now opposed...geee, I wonder why?




posted on Nov, 20 2009 @ 12:53 AM
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12 months hugh? While this is monumental! i can see the FED right now as i type this probably hiding info, burrying numbers, changining accounts that are untraceable , you know, what it does best* launder and hide and print money. IF thier is gunna be a total cap on the FD< i seem to sensee a THF scanrio coming, economicly..sad to say, what ive learned is, its laundering, steeling, borrowing and secretly making money disappear, that makes the wolrd go round, and this country work. If that all came to a stop..everything would break down, like the eams on some old worn clothing. but i am all in favor of the audit
by all means! if everything collapses so be it! the truth needs to ome out,a nd people are legaly entitled too see, how REALLY bad the FED and ssytm has screwed them, and the screwing to come*



posted on Nov, 20 2009 @ 01:50 AM
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$4 trillion dollars short and 96 years late...but better than nothing.

While I laud the efforts and courage of those who have worked hard to make this a reality, I can't help but have a sinking feeling it will be defeated in the Senate. The account books of the Fed will never see the light of day...because they probably don't exist in the first place. I'm sure "the temple" just creates and hands out money at whim to the cronies du jour. Records? We don't need no stinkin' records!



posted on Nov, 20 2009 @ 01:57 AM
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Didn't they water this bill down to almost nothing with no true oversight? If they didn't then we are only months away from economic disaster as an audit will shed so much light in dark places that everything may become very weird for a while. The poster above mentions the Fed hiding information as we speak and I can bet that is the case. May God be on our side of this battle. I'm not even religious, but it doesn't hurt to ask some higher power to make this happen. This world has become corrupted by greed perpetuated by fake currency.



posted on Nov, 20 2009 @ 03:01 AM
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Look at it this way, its afoot ithe door* maybe not this time, perhaps, but in the future, another hopeful ron paul will come forward,a nd notice this has been attmepted before, and their are loopholes and prgressions to be made, push forward no matter what!



posted on Nov, 20 2009 @ 03:31 AM
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Originally posted by ExPostFacto
Didn't they water this bill down to almost nothing with no true oversight? If they didn't then we are only months away from economic disaster as an audit will shed so much light in dark places that everything may become very weird for a while. The poster above mentions the Fed hiding information as we speak and I can bet that is the case. May God be on our side of this battle. I'm not even religious, but it doesn't hurt to ask some higher power to make this happen. This world has become corrupted by greed perpetuated by fake currency.


Amen to that brother! Enough with this worthless paper, I want something that's actually backed!

You beat me to posting this thread!

Yes, ExPostFacto, according to the huffingtonpost.com this bill has been watered down. However I still believe that this is a glorious day for all non corrupt American.. even international citizens! Woo-Woo. Read the article on huff post it explains how its not as "serious," of a audit it should be... but still a step in the right direction non the less. A reason to celebrate! Here's the link friends!

www.huffingtonpost.com...

Peace playa's


Omni



posted on Nov, 20 2009 @ 03:51 AM
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I wish I could flag this again because it really needs to be on the home page!


Omni



posted on Nov, 20 2009 @ 06:17 AM
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There is a thread or two on here somewhere, back when Bush was in office, that talked about the IMF or some foreign agency wanting to audit the Fed's books too.

It was before all this mess, before the election, and Bush was just stalling to avoid having to deal with all this in the end of his term.

Its said, that he told whoever, that they can audit the Fed in June of 2010, but no sooner. Why then? Endgame?

*Then as a side note, George Soros has said the economy will take off to rosy territory in the last half of 2010, so basically starting in June of 2010.
Donald Trump has even said "the markets will be heaven in 2011".



posted on Nov, 20 2009 @ 03:04 PM
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Maybe it wont matter if they're audited or not.. Did most of the pre 9/11 info that could damage the FED go down with building 7 ?

Just a question ?

If so, then the most they can audit would be the info post 9/11 and that's more than likely tampered.

It is encouraging though that HR1207 is getting somewhere.



posted on Nov, 20 2009 @ 03:13 PM
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As far as I am concerned, any movement towards more transparency at the fed is ok in my book! THe main concern is that when other countries who are currently floating the US's massive debt will not be pleased with what they see and will be forced to pull the plug.

At that point, a $4 trillion cap won't matter much because that would be the rough cost of a loaf of bread!




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