BREAKING! House passes to AUDIT The Feds

reply to post by CaptainIraq


I'll tell you what, I've seen some bull$hitters in my day. But one thing's for sure, that Harry Reid is right up there with the best of them. Seems as if this guy missed his real calling in life, as an unremorseful heroin dealer or something. What a sleazy bastard.

America, you're looking at your federal government, truly an evil den of psychopathic criminals.

Things will never be right until every last one of these deceitful scumbags faces trial-by-jury, are absolutely found guilty of their dire crimes and tossed into unforgiving prisons, where they can no longer wield the self-serving power that is capable of bringing so much pain and suffering to this world.

F.T.G.

Well that is good news (if it actually happens)

But I am left wondering...... will they will be counting the gold painted lead bars as actual gold bars?

Will anyone audit the auditors?

Mickierocksman

The acutal bill that passed, is not avaiable from the GPO yet.

Bill Text Versions 112th Congress (2011-2012) 459
The text of has not yet been received from GPO. Bills are generally sent to the Library of Congress from the Government Printing Office a day or two after they are introduced on the floor of the House or Senate. Delays can occur when there are a large number of bills to prepare or when a very large bill has to be printed.

I would reserve judgement until we can read the bill and see what is in it, especially last minute changes or additions. It would not be hard to put some small but insurmountable requirement. The requirement could block, or take all the teeth out of the audit. There are many levels of audits and the wording of just one clause could make it completely worthless.

Added: For example, are the reserve board members able to declare some information secret "in the interests of national security"? If so, the audit would only be worth the toiletry value of the paper it is printed on.

I am all for auditing the FED. However when we the people find out how corrupt it actually and they have no cash on hand nor gold to back it up, what then? All that money is Fiat and 90% of it is electronic credit anyway.

We will likely see the Dollar crash world wide overnight and wars break out because of it.

Originally posted by Aloysius the Gaul
Do you really...REALLY....think that more government auditing of the Fed is going to show anything up??

And do you seriously think that RP thinks it will??

Really??????

I am with this guy.

As it has been pointed out in the numerous other threads started on this subject the Bill to Audit the Fed has not and will not pass the Senate...at this time it has already been said that it will not even be considered for a vote so don't think this is a done deal as it has not passed

reply to post by DJMSN


I was looking into that very thing this morning. Even if the Senate would pass it the President will veto it. But this just goes to show how corrupt this Government is. They want to audit we the people but they wouldn't dare audit the string pulling banksters.

This apple is indeed rotten to the core.

Originally posted by SWCCFAN
I am all for auditing the FED. However when we the people find out how corrupt it actually and they have no cash on hand nor gold to back it up, what then? All that money is Fiat and 90% of it is electronic credit anyway.

We will likely see the Dollar crash world wide overnight and wars break out because of it.

Excellent thought SWCCFAN !!!

I have a possible solution outlined in this thread:

ONE SOLUTION to Reduce Unemployment, Rebuild Our Infrastructure AND End the Federal Reserve

Originally posted by Aloysius the Gaul
Do you really...REALLY....think that more government auditing of the Fed is going to show anything up??

And do you seriously think that RP thinks it will??

Really??????

\
Like foxes guarding the hen house, yet everyone here thinks it''s going to solve the problem. It won't and the republicans are only doing it because they think they will be sticking it to Obama by passing it. Pure political theater and nothing more.

AHA!

All of them spoketh "NAY".

reply to post by CaptainIraq


Exactly. This will NOT pass through the Senate.

certainly the democrats have the peoples best interests at heart.

reply to post by bjax9er


Or they just don't believe it'll accomplish anything... like a lot folks on this thread...

I guess it now comes down to the Senate. No doubt they will rework the bill and send a revised version back to the house. Even if congress can work this out before January 20th, I'm not so sure the President will sign it.

For those that are not aware the Federal Reserve charter expires next year. It would only make sense to audit the Federal Reserve before Congress renews the charter. My question is what happens if the audit doesn't find anything out of place? If by some magical assortment of smoke, mirrors and falsification of records the Fed appears to not be in any wrong doing, what then? Does Congress reauthorize the Feds charter?

Originally posted by AssiduousSpook

I guess it now comes down to the Senate. No doubt they will rework the bill and send a revised version back to the house. Even if congress can work this out before January 20th, I'm not so sure the President will sign it.

For those that are not aware the Federal Reserve charter expires next year. It would only make sense to audit the Federal Reserve before Congress renews the charter. My question is what happens if the audit doesn't find anything out of place? If by some magical assortment of smoke, mirrors and falsification of records the Fed appears to not be in any wrong doing, what then? Does Congress reauthorize the Feds charter?

welllllllllllllllllllll...

A LOT of what the Fed do, they do against the will of people like RP, but it's not secret.

So...

I kinda think that no matter what people find, if it happens, the audit the fed crowd will still hate the Fed... and listen RP is gonna turn ANYTHING they potentially find into a massive mountain, no matter how important it ACTUALLY is.

The Federal Reserve Charter does NOT "Expire" !!!

The Federal Reserve has "indefinite" succession !!
(since 1927)

from Cornell Law:

12 USC § 341 - General enumeration of powers

Upon the filing of the organization certificate with the Comptroller of the Currency a Federal reserve bank shall become a body corporate and as such, and in the name designated in such organization certificate, shall have power—

First. To adopt and use a corporate seal.

[color=limegreen]Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law. .....

Cornell Law - Fed reserve

So it appears Congress can dissolve the Fed any time

but there is no "automatic" expiration

The "Violation of Law" clause is interesting however !!

Also, I think the Dodd-Frank law has some kind of minimal Federal Reserve audit.

In fact, that may have been the reason we found out about the secret loans that came to $16 Trillion !!

July 21, 2011 article

The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government’s first-ever audit of the central bank.

Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.

Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office’s (GAO) analysis shows.

Additionally, asset swap arrangements were opened with banks in the U.K., Canada, Brazil, Japan, South Korea, Norway, Mexico, Singapore and Switzerland. Twelve of those arrangements are still ongoing, having been extended through August 2012.

Audit: Fed gave $16 trillion in emergency loans

Originally posted by xuenchen
Also, I think the Dodd-Frank law has some kind of minimal Federal Reserve audit.

In fact, that may have been the reason we found out about the secret loans that came to $16 Trillion !!

July 21, 2011 article

The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government’s first-ever audit of the central bank.

Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.

Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office’s (GAO) analysis shows.

Additionally, asset swap arrangements were opened with banks in the U.K., Canada, Brazil, Japan, South Korea, Norway, Mexico, Singapore and Switzerland. Twelve of those arrangements are still ongoing, having been extended through August 2012.

Audit: Fed gave $16 trillion in emergency loans

The uncovering of the 16T secret bailout loans were the result of Rand Paul's senate Fed Transparency bill, which itself was the result of Ron Paul's Fed Transparency bill from 2010.

reply to post by eLPresidente


Ah..

I knew it was something.

Ron Paul has usually attempted a bill every so often to actually revoke the Fed.

It never goes anywhere though.

reply to post by eLPresidente


During the course of that audit by the IG they also discovered that the FRB holds, as in owns, 10% of OUR gold reserves. Every single Banking Committee Hearing they have denied holding any gold other then Gold Certificates. Two lawyers for the FED and Bernanke have made this statement on several occasions. One is not required to be under oath when addressing the Banking Committee. That audit did discover a great deal, although it was still limited in scope. The mere fact that they exist at all is a slap in the face to all Americans. Most don't know, some don't care and Congress LOVES them. An endless supply of money. The FRB currently holds 50% of treasury bonds. China 6.5 followed by Japan. Additionally one may disregard the yearly money given back to Treasury. Timmy is offered two options. Send it to the General fund OR pay the interest on the debt. to the FRB. I'd suggest ole Tim simply gives it back to Benny. Bottom line for us Americans is we will NEVER be able to touch the principal when every dollar printed is debt + interest + these are collateral based loans. That is a fact and the FRB has no problem telling you, if you ask the right questions. They will attempt to dodge the 10% Gold bullet by stating we / they went off the Gold Standard. Then you ask again quoting the IG. Finally they will tell you they redeem their Gold Certificated for physical delivery of OUR GOLD which they have legal claim to because it was pledged as collateral on the originating loans. ASK EM !