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Texas Congressman and 2012 presidential candidate Ron Paul held hearings Tuesday into a recent and rare one off audit of the Federal Reserve’s crisis-response emergency lending programs of 2008.
In his role as chairman of the Domestic Monetary Policy subcommittee, Paul relished the glimmer of transparency that was afforded as part of the Dodd-Frank Act, signed into law last year.
Robert Auerbach, Professor of Public Affairs at the University of Texas, backed Paul up by putting the case that regular and ongoing audits would not affect the Fed’s independence in any major way.
“The Fed’s mythical flag of independence from politics, a favorite Fed mantra to avoid individual responsibility, is merely a shield intended to protect the institution from being forced to act in a more transparent fashion,” Auerbach testified.
Originally posted by HauntWok
I want to start by emphatically agreeing with Ron Paul on his stance to audit the Federal Reserve Bank and hold them accountable for their actions and policies.
This is just a political donkey wash, and will likely have no real effect on changing some of the many problems in Washington, the least of which is Ron Paul's totalitarian ideal of what the roll of Government is and specifically what the roll of the president is.
It's akin to a politician trying to impeach a sitting president for getting a BJ in the oval office while at the same time cheating on his wife and getting a BJ from a staffer in his own limousine.
The fact that Prison Planet is debuting this waste of all of our times further compounds the political BS it really is. Prison Planet if some may recall is the same website that brought us "20 Minutes with the President". a faked interview hosted by Charlie Sheen in the midst of his completely crazed, crack smoking days. So, their objectivity and more likely their reporting is highly suspect.
The source is irrelevant, if Paul has been recorded stating similar things before, surely?
I've heard and seen Paul himself bemoan the FED and a great many other con artists that many laypeople imagine is a government department.
I think the Fed needs a good audit and the time for the puppet masters to take a back seat for a while just may be near.....