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Originally posted by TrueAmerican
Well the House did it's job, for a change, but the article is already claiming it has no chance in the Senate. Don't get me wrong, am happy it passed the House, and support Ron Paul 100%. But the fact of the matter is it likely will end up as some watered down legislation with no teeth, and ultimately be ineffective with a coffee house bribe to the enforcers. The Fed will always find a way out to continue its unregulated control over the money supply, with no accountability.
The bill, which has 270 co-sponsors, passed 327 to 98. All but one Republican -- Rep. Bob Turner of New York -- voted for it, along with 89 Democrats.
Originally posted by TrueAmerican
Well the House did it's job, for a change, but the article is already claiming it has no chance in the Senate. Don't get me wrong, am happy it passed the House, and support Ron Paul 100%. But the fact of the matter is it likely will end up as some watered down legislation with no teeth, and ultimately be ineffective with a coffee house bribe to the enforcers. The Fed will always find a way out to continue its unregulated control over the money supply, with no accountability.
Originally posted by WookiepWow, what a horrible interviewer! She tried to challenge Ron Paul on the FED and then went on to put words in his mouth?? Pro Bernanke much Fox news? Good thing Paul set her straight, but wow. I can't even watch the MSM for 5 minutes anymore.edit on 25-7-2012 by Wookiep because: (no reason given)
Originally posted by Chrisfishenstein
reply to post by babybunnies
So tell me why anyone wouldn't want someone like this, who is trying to find the issues with America to solve, running our country?
I am still as I have always been 100% for Ron Paul......We need this man as our president!!
Good job Dr. Paul for setting this into action!!
money.cnn.com...
It's important though not to confuse the aim of the bill with a financial audit. The Federal Reserve's finances are already audited every year by an independent accounting firm. (Last year it was Deloitte and Touche). The central bank also publishes its balance sheet every Thursday online.
Instead, what Paul is aiming for is a full investigation of the way the Fed determines monetary policy.
Those deliberations currently take place behind closed doors. Minutes are released with a three-week lag, and full transcripts are published only five years after the fact.
Bernanke, speaking at a hearing about the economy and monetary policy Wednesday, said he prefers to keep it that way to protect the Fed's independence. Having Congressional investigators in the room could "create a political influence" and have a "chilling effect," the Chairman said.
Bernanke said he could envision a "nightmare scenario" where Congress would disagree with a Fed decision on interest rates and try to get other agencies, such as the Government Accountability Office, to review it.
Current law also protects the Federal Reserve from audits that reveal transactions with foreign central banks and governments, the reserves of its member banks and discussions among its employees about these issues.
I was thinking the same thing. He's got some tricks left up his sleeve. And if it all plays out like he hopes then the Federal Reserve is going to crash and burn when all their dirty laundry gets revealed.
the federal reserve charter is up and I'm willing to bet that Ron Paul planned this audit to be completed before 2012 before the renewal of the federal reserve charter.
now they will think twice before loaning 16 trillion dollars because they can't do it in secrecy anymore.