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House panel votes to audit Federal Reserve

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posted on Nov, 20 2009 @ 05:31 PM
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House panel votes to audit Federal Reserve


www.campaignforliberty.com

WASHINGTON — The House Financial Services Committee has voted to pull the curtain on the normally secretive Federal Reserve by subjecting the nation's central bank to a sweeping congressional audit.

The provision would direct the Government Accountability Office to examine transactions the Fed has undertaken to spur lending, stabilize banks and revive the economy.

The Fed is an independent agency of the government and has been shielded from scrutiny. The proposed audit would not include a review of the Fed's monetary policy deliberations.

Antipathy toward the Fed's closed-door ac
(visit the link for the full news article)




posted on Nov, 20 2009 @ 05:31 PM
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Not sure if someone else posted this or not, but it looks like HR 1207 took another step in the right direction, although they tried to derail it with watered down legislation by some guy named Watt.

In addition, the economics that were opposing the fed audit turned out to be on fed pay roll www.campaignforliberty.com... I guess nothing unusual here.

I am also not surprised that Barney Frank voted no on the audit of the fed, proving once and for all that he was just pretending to be a good guy. I'm glad they shut him down before he could ruin things even further.

There still are some obstacles in the way but I think this is quite the historic effort.

www.campaignforliberty.com
(visit the link for the full news article)



posted on Nov, 20 2009 @ 06:15 PM
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Awesome! I really believe that the fed is a major source for a good majority of the corruption and decay in our society and I believe that the fed helps to perpetuate a class of the rich in this country that will eventually be it's downfall. The sooner the fed is brought down and exposed, the sooner this country can return to being what we all want America to be. A shining beacon of hope and freedom for all.

Amazing that this is getting no attention, even on here.



posted on Nov, 20 2009 @ 06:24 PM
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as much as i would love for the fed to get an onest audit, then get shut down and tried for there illegal activities.... i just dont think it will happen. the fed is way to powerful imo.

regardless, ron paul is awsome, and i apreciate him and his attempt to get our country back on the right track. i dont see this happening without a 2nd civil war... one i wouldnt mind to be quite honest



posted on Nov, 20 2009 @ 06:25 PM
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This is great progress Congressman Ron Paul and a few others have done an excellent job at getting this initiative this far.

Now can they get it to pass on the House Floor and is there a very real risk a Presidential Veto based on vague national security concerns might be cast by President Obama the champion of non-transparent, transparency in Government!

Ultimately I fear this Bill will likely have to get enough votes to override a Presidential Veto.

The Birth Certificate issue will haunt us a long time. The Powers that Be simply need to say jump and Obama will have little choice but to say how high or risk the disgrace of being drummed out of office should the true information regarding his place of birth be brought out for failing to perform for the powerful money and corporate interests that groomed him so meticulously for the Office of President.

Time will tell.



posted on Nov, 20 2009 @ 07:18 PM
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This is good news but there is a long way to go. Especially heartening is this


A 43-26 committee vote rejected a substitute proposal offered by North Carolina Democrat Mel Watt. Its provisions would have sanctioned retention of the long-standing ban against congressional scrutiny of the Fed’s monetary policies.

Please visit the link provided for the complete story.

The New American

The problem is in the senate! where the bill will likely die. Unfortunately.

Not only is it being re-written and amended we have to somehow overcome things like this


Former Fed research specialist Michael Feroli, now an economist with JPMorgan Chase, urged the Fed to “do whatever it takes to stop this from going forward and eroding confidence in the Fed’s independence."

Please visit the link provided for the complete story.

The New American

And


Nov. 20 (Bloomberg) -- A U.S. senator said he would seek to block any legislation containing a measure to remove the Federal Reserve’s shield from congressional audits of the central bank’s interest-rate decisions.

The House Financial Services Committee yesterday advanced a proposal requiring audits of the Fed that was introduced by Representative Ron Paul, a Republican from Texas. Senator Judd Gregg, a New Hampshire Republican and Banking Committee member, said in an interview today that the measure “would do fundamental damage to the strength of our financial structure as a nation.”

“I would not vote for any bill and I would filibuster any bill that had this language in it,” Gregg said, referring to the legislative delaying tactic that requires 60 Senate votes to break.

Please visit the link provided for the complete story.

Bloomberg

A hard uphill battle lies ahead for sure.

At this point the most important and most helpful thing we can do is GET INVOLVED!!

RonPaul.com has a list of all House and senate co-sponsors as well as contact info for them.

I feel one problem we face is time, people may be loosing steam to keep fighting, the politicians know it and continue to drag it on as long as possible. We The People have to endure and stay on task to get this done, and done without amending the bill into a bill acceptable to the FED, which of course would be such a watered down and restricted version that it will be unable to accomplish the task for which it was introduced.

Unfortunately I also have to agree with my old friend ProtoplasmicTraveler that Obama himself will almost certainly be the final obstacle.

On a positive note. Just the fact that this legislation has not only been introduced but has gotten further than any similar legislation before it is good news. It has exposed the FED. Perhaps not the disclosure of the needed audit but it certainly has brought attention to the secrecy of the FED and raised questions as to just what the FED and it's real purpose is to millions of people who would not otherwise have paid any attention.

Here's to fighting the good fight


[edit on 11/20/2009 by AlienChaser]



posted on Nov, 20 2009 @ 08:12 PM
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Here's thread from yesterday.

HR1207 has Passed

www.abovetopsecret.com...

[edit on 11/20/09 by Keymaster1]



posted on Nov, 22 2009 @ 02:23 AM
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it's sad that the American government thinks only the federal reserve should have "political independence" and not the average person. Absolute sign of hypocrisy, for them to say how great it is to be independent while they try and rob other citizen's freedoms.



posted on Nov, 22 2009 @ 03:16 AM
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WOOHOO! 10 points for the public
god bless you ron paul

Now,t he question is..if anything majorly fraudulant is found..willamericans be aware and strike back, how bad theyve been being duped for 95 years? or will they just ignore it into tomorros forgotten yesterday news, and shuffle about thier overspeding, now theyve become used too it that is the question! what are yuo gunan do about it



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