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New Bill To Audit The Federal Reserve

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posted on May, 30 2012 @ 10:00 PM
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I ran across this little net article through a friend. It seems as though they're looking to truly audit the Fed.

personalliberty.com...

I also have a link to a list of co-sponsors for the bill. Its H.R, 459 for those who want to do their own researching.

personalliberty.com...




posted on May, 30 2012 @ 10:02 PM
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“The Federal Reserve Transparency Act HR 459 would eliminate restrictions on GAO audits of the Federal Reserve and open Fed operations to enhanced scrutiny. We hear officials constantly lauding the benefits of transparency and especially bemoaning the opacity of the Fed, its monetary policy, and its funding facilities.”


there are 225 Congressional co-sponsors



posted on May, 30 2012 @ 10:21 PM
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reply to post by Chickensalad
 

Congress is so schizophrenic they're starting to really freak me out. First the NDAA, and then Audit the Fed? What the hell? First they hate us and then they love us? Sounds like my drunk stepdad, for chrissake....



posted on May, 30 2012 @ 10:22 PM
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reply to post by Chickensalad
 



A partial audit last year that was required as part of the Dodd-Frank financial reform legislation revealed that the Federal Reserve had secretly sent more than $16 trillion to bail out banks around the world. The results of that audit created a firestorm of bad publicity for the secretive bankster cabal and a growing movement to end the Fed.


Wow..... $16 trillion. That is unbelievable!! And that was discovered through a partial audit.


Auditing and ultimately ending the Federal Reserve’s inflationary control over the U.S. economy has been a long-term goal of Ron Paul. Many people say Paul can’t win. If this vote succeeds in July, Paul will have won, and so will have the American people


The People's man, unfortunately I don't believe he'll win. I'm afraid that Congress ultimately will side with the Fat Cats, A.K.A., the Banksters/Wall Street. They'll have their lobbyist working over time to kill it.

If they do pass it, how long for the final report results and what kind of penalties would enforced, if any?



posted on May, 30 2012 @ 10:29 PM
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reply to post by snarky412
 


Im not sure if those figures are completely accurate with that source. Im going to have to check other sources to verify.


seems legit The Fed's $16 Trillion Bailout Under-reported



posted on May, 30 2012 @ 10:29 PM
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reply to post by Ex_CT2
 



They're just playing with us. I seriously doubt that they'll have the cahones to pass it. I hope I'm wrong.

If there were more politicians like Ron Paul, who introduced the bill, then we might have a chance.

But I'm afraid that Congress is no longer "for the people". They are only out for themselves........



posted on May, 30 2012 @ 10:36 PM
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reply to post by snarky412
 

Damn. I was afraid of that....



posted on May, 30 2012 @ 10:37 PM
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Isn't it nice that we are doing this? Our country is broke and these fools bail out banks around the world. Why waste time auditing them? It's high time we line these criminals up against the wall.



posted on May, 30 2012 @ 10:46 PM
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An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders.
"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."



Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.



A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."


www.sanders.senate.gov...


Well, maybe there is hope after all. Sounds like the Fed. Audit really astounded some people and hopefully opened their eyes to the crooks that they are and always have been. Reform is definitely needed to straighten this mess out.



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