Ron Paul Backs Fed Audit Compromise

Ron Paul Backs Fed Audit Compromise

No politician has been more closely associated with the populist assault on the Fed over the last few decades than Dr. Ron Paul, the libertarian-leaning Republican congressman from Texas. So when Paul came out hard on Thursday night against a compromise amendment negotiated by Sen. Sen. Bernie Sanders (I-Vt.), proponents of Fed transparency had good reason to worry that the Fed had gutted the effort. It didn't look any better when the compromise was backed by Banking Committee Chairman Chris Dodd (D-Conn.) and the Treasury Department -- both well known to be active opponents of Paul's audit amendment.

"Any time you find out Senator Chris Dodd is in support of something -- watch out," read a hastily prepared action alert blasted out by Paul's organization, Campaign for Liberty, as word of the compromise got out. "According to our sources on the Hill, Senator Bernie Sanders caved to pressure from the White House and Chris Dodd and stripped out the Paul-Grayson language from his Fed transparency amendment."

Paul himself piled on. "I'm not a bit surprised that the Federal Reserve got to the Senate. I had expected Bernie Sanders to offer S 604, which was the same as HR 1207, which is the Audit the Fed Bill, and at the last minute he switched it and watered it down, and really, it adds nothing.

Read the full article here

So Dodd does it again and seems to press hard against Grayson who apparently "caved in." Doesn't surprise me really. Even in the article they have Paul saying he's not surprised the FED got to the Senate. But it's just sad we will never get this audit no matter how hard we try; even though we have good people who are working on trying to get the bill passed they will get battered down by the weight of our government, it's as simple as that.

While probably 95% or more of our government is in bed with the FED, the rest want answers and will keep trying. It's going to take monumental support from the people to ever get a chance at having a peak at the FED whatsoever.

I wonder how Paul honestly feels about Grayson right now...

When your running a counterfeiting operation (FED), you really don't want the GAO auditing it.

That stench encircling the globe, its coming from Washington.

Thank god for Dodd, can you imagine what would happen if the fed was audited? /end sarcasm

This problem will never get fixed. Obama can reiterate his stance on transparency right now by having the fed audited. So far there is no change in D.C. and doesn't look like it is on the way.

Sanders amendment passed unanimously. 96-0.

Vitter amendment failed to pass, 62 votes to 37.