Posted on 11/13/2013 7:39:10 PM PST by Tailgunner Joe
Sen. Ted Cruz announced Wednesday that he is backing an effort by fellow Republican Rand Paul of Kentucky to get a vote on auditing the Federal Reserve as a condition for considering the nomination of Janet L. Yellen to be chairwoman of the Fed.
I agree with Rand Paul: before the Senate votes on whether to confirm Janet Yellen, we should at the very least allow a vote on the Audit the Fed bill, the Texas Republican said in a statement. The Federal Reserve has expanded our money supply by trillions, benefiting Wall Street but making life harder for millions of Americans struggling to make ends meet.
Paul and Cruz cannot block Yellens confirmation because Senate supporters could work around them with a cloture vote to limit debate and avert a possible filibuster.
However, if the senators could rally support within the Senate Republican Conference, they could get the vote on the Federal Reserve audit as a condition for moving the nomination forward.
It isnt clear yet what the appetite among the Senate GOP (as well as supporters of the audit within the Democratic caucus) would be for such a move.
Several conservative groups are steering clear of real engagement on the Yellen nomination; she faces a confirmation hearing Thursday at the Senate Banking Committee.
"I agree with Rand Paul: before the Senate votes on whether to confirm Janet Yellen, we should at the very least allow a vote on the Audit the Fed bill. The Federal Reserve has expanded our money supply by trillions, benefitting Wall Street but making life harder for millions of Americans struggling to make ends meet. Never-ending quantitative easing threatens to undermine the dollar and to drive up prices on everyday goods from food to gasoline to the basic necessities of life. We need to bring transparency to the Fed, so the American people can understand the scope and consequences of its policies."
I would like to think this is going somewhere this time but color me pessimistic. Very pessimistic.
Once you hand someone the right to create money from nothing that money will come forth anytime there is a challenge to that system and it will be used to crush that challenge.
Ted Cruz Ping!
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Seems some conservatives in DC have figured it out - rather than fighting every single battle against the growth of the progressive nanny state and their social engineering schemes - go after the FED and you will kill 1000 statist plans at once
The Fed is the foundation of “Progressive” government. It can not exist without fiat money and politicized/nationalized interest rates. Kill the FED and you kill progressive government with it.
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