CRUZ or LOSE!Posted on 01/28/2015 1:33:17 PM PST by Theoria
Senators Rand Paul and Ted Cruz might end up running against each other for the Republican presidential nomination, but they can agree on one thing: their distrust of the Federal Reserve.
On Wednesday, the two Republican senators introduced the Federal Reserve Transparency Act which Mr. Paul has been pushing for some time.
Republicans have questioned the Fed’s moves to stimulate the economy since the financial crisis, arguing that the expansion of its balance sheet will create economic instability. In 2011, Gov. Rick Perry called the Fed’s monetary policies potentially “treasonous” and said that Ben S. Bernanke, the Fed chairman at the time, would be in for “ugly” treatment if he visited Texas.
“Enough is enough,” Mr. Cruz said in a statement. “The Federal Reserve needs to fully open its books so Congress and the American people can see what has been going on.”
The new bill has 30 co-sponsors in the Senate, and a similar bill has received bipartisan support in the House.
Mr. Paul’s father, former Representative Ron Paul, was also a proponent of legislation to force an audit of the Fed through the Government Accountability Office.
Janet L. Yellen, the chairwoman of the Federal Reserve, said last month that she would “forcefully” oppose any attempt to audit the central bank that might infringe upon its independence.
(Excerpt) Read more at nytimes.com ...
CRUZ or LOSE!I’ll believe what the government says about our economy, financial status and future prognosis when the Federal Reserve submits to an outside, totally-independent audit of its books, having provided answers and proof data for all questions asked during said audit.
Why don’t they toss a coin and run as President-Vic President candidates? Win Win in my book.
Good guys working together that’s what we need.
I’m glad Cruz is also paying attention to the Federal Reserve.
It IS the foundation of the progressive nanny state. \ Being able to run constant deficits, issue debt in fiat currency and manipulate interest rates means the US Government (and leftist politicians) can fund any social-engineering scheme they want. It means they can use money to grab rights from States and local governments. It means that even social issues, like Gay marriage and abortion, can become the realm of the Federal Government.
Do you think they US Government would have been able run up $18 Trillion in debt if the US Dollar was actually backed by something like gold, silver, oil, etc...?
Glad to see Cruz taking this up.
Agreed
IOW, no repeal of Obamacare, forget he ever mentioned it.
Audit the Head!
I truly believe that the Fed will have the CIA activate some MK-ULTRA patsy to give Cruz the JFK/Reagan treatment. Central Banks are evil, and no, they don't prevent depressions or recessions. They bilk savers and reward crony banksters.
That ol’ 80-yr ‘business cycle’.
Someone talented should make a Rand Headroom.
:’) There’s plenty of room *in* there, regardless. ;’)
are you sure there are Fed books?
I’ve not seen the paper Accounting Standards for the Federal Reserve Bank
I’m not sure there are either, actually. The only thing we ever see/hear are reports from the Fed itself about its financial picture - and everything is rosy.
Yep, I’m gonna believe that, like I’ll believe anything Brian Williams says.
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