Posted on 03/17/2009 5:44:55 AM PDT by kellynla
A bill calling for the comptroller general of the United States to audit the private Federal Reserve is gaining momentum in Washington, D.C., as more and more representatives add their names to its bipartisan support.
As WND reported, U.S. Rep. Ron Paul, R-Texas, introduced last month H.R. 1207, the Federal Reserve Transparency Act of 2009, a bill requiring that an audit of both the Fed's Board of Governors and the Federal Reserve Banks be completed and reported to Congress before the end of 2010.
Paul was joined at the time of introduction by 11 other Republican and Democratic co-sponsors.
Since its introduction, 17 additional U.S. representatives have added their names as co-sponsors, bringing the total to 29 legislators seeking the audit.
Rep. Paul has been a harsh critic of the Federal Reserve, even seeking to abolish the private money-control system, arguing that Congress should "reassert its constitutional authority over monetary policy."
The Constitution, Paul said, gives Congress, not the private Federal Reserve, "the authority to coin money and regulate the value of the currency."
(Excerpt) Read more at wnd.com ...
ping
What is remarkable is how this is such an earthshattering idea. It’s common sense oversight.
Who has the guts to do that one?
Kudos to Ron Paul. This will not endear him to Pelosi, Reid, Obummer, and establishment Republicans, but conservatives should be elated if this bill passed.
Even though I agree with Paul on this one and think the Federal Reserve is dirty, the idea of giving complete control over our money system to Congress is nightmarish in scope!
RE “arguing that Congress should “reassert its constitutional authority over monetary policy.”
Would this be better? I guess I can see the point that they would be held responsible.
Great idea. But who, in their right mind, would entrust our congress with complete control over the monetary system? The only thing they have shown themselves capable of doing is getting re-elected.
‘BOUT DANG TIME!!!
i agree, the fed reserve is a major ripoff and has caused more to destroy this country from within....
Cosponsors...including my man Scott Garrett:
Rep. Roscoe Bartlett [R-MD]
Rep. Dean Heller [R-NV]
Rep. Bill Posey [R-FL]
Rep. Dennis Rehberg [R-MT]
Rep. Paul Broun [R-GA]
Rep. Dana Rohrabacher [R-CA]
Rep. Neil Abercrombie [D-HI]
Rep. Gene Taylor [D-MS]
Rep. Michele Bachmann [R-MN]
Rep. Lynn Woolsey [D-CA]
Rep. Walter Jones [R-NC]
Rep. Steve Kagen [D-WI]
Rep. Jason Chaffetz [R-UT]
Rep. Clifford Stearns [R-FL]
Rep. Jack Kingston [R-GA]
Rep. Donald Young [R-AK]
Rep. Scott Garrett [R-NJ]
Rep. John Duncan [R-TN]
Rep. Ted Poe [R-TX]
Rep. Dan Burton [R-IN]
Rep. Tom McClintock [R-CA
A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress
Presidents Garfield, Lincoln and Kennedy were assassinated opposing the banks. Messing with the bankers is hazardous to one’s health.
Did you think the Federal Reserve was part of our government? It’s a consortium of private banks that took the power of creating money away from our government in 1913.
John Jacob Astor had opposed the formation of that consortium, but after he sailed on the Titanic in 1912 that was no longer a problem.
No-one opposes those bankers. No-one.
When I met Ron Paul at CPAC they had all sorts of materials about this at their tables. I’m all for it, the Fed needs to be brought down to earth.
Ron Paul Ping
Lincoln wanted a central bank. He got centralized banking through the national banking acts in 1864, which was the system in place until the Federal Reserve. He was assassinated because Southerns viewed him as a tyrant for waging a total war against them in which the South was decimated, and civil liberties in the North were tossed out the window.
Lincoln has a lot of powerful quotes that seem to shed him in a positive light, but his actions are far more revealing than his words.
Who will ‘bail out’ the Federal Reserve? /sarc
The Fed is the heart and soul of the “One World Order” guys. Having a private bank run our entire economic system means that there is no oversight and no way to vote them out or for them to be held accountable. The entire Congress should be in support of this very important bill and send it to the Senate with a full endorsement.
This naive position is why Ron Paul could not go anywhere is the primary. If congress started performing its constitutional duty, it couldn't spend spend spend and print print print, then blame the Fed when the economy goes south..
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