Feed on
Posts
Comments

It will become much easier for our representatives to claim they still support Audit the Fed on the House floor if the Watt version passes, when, in reality, Representative Watt’s amendment puts restrictions on Government Accountability Office audits of the Fed.

Read Full Post »

In fact, of $609,072 given to Watt, $217,109 – or 35.6 percent – came from the money sector, including over $187,000 – or nearly 31 percent of his total contributions – from political action committees within the finance , insurance and real estate industry. The next highest industry supporting Watt was labor, which contributed only 14 percent of his total war chest.

Read Full Post »

It’s time you and I put a stop to a renegade Federal Reserve by exposing the Fed’s out of control actions to the American people. And Congressman Ron Paul and Senator Jim DeMint have a bill before Congress to do just that, known as the “Audit the Fed” Bill (HR 1207 and S 604).

Read Full Post »

Do you even know that our country didn’t have any income taxes for almost one hundred fifty years? Do you know that the majority of individual wealth for Americans was made during those years? Do you know that during that period of no income taxes our country became a Super Power? Do you know that roads and schools are not supported or paid for by income taxes? Do you know that the US Military is completely paid for by “legal” taxes which are not income taxes on ordinary citizens?

Read Full Post »

Eventually there was bound to be a reaction from liberal-left politicians to the Ron Paul-led effort to audit the Federal Reserve. That reaction appears to be taking shape in the form of Senator Chris Dodd’s plan to create a super agency to oversee, especially now that the Dodd plan received front-page treatment from the New York Times on Sunday.

Read Full Post »

The Federal Reserve, an independent organization apart from the U.S. government, largely has operated behind a veil of secrecy for decades, but Paul told WND today that its operations could be about to face the light of day.

“We have 289 cosponsors for the bill, including 111 Democrats and all of the Republicans, so we’re doing well,” he told WND.

Read Full Post »

Because of this awesome power to create money out of thin air, the Fed has jumped in to stabilize ailing financial firms by pledging over $7 trillion through various guarantee programs and credit facilities. This is equivalent to over half of the entire nation’s GDP. Over $1 trillion of this is already in play, propping up banks and other institutions that should be allowed to fail. All of this has taken place with no oversight by Congress. The Fed was created by Congress, and it is unconscionable that we have allowed it to act in such a way without our oversight. Currently the Federal Reserve’s credit facilities, open market operations, and agreements with foreign governments and central banks are all exempt from any sort of audit or oversight. Earlier this year I introduced the Federal Reserve Transparency Act, HR 1207, that would remove all restrictions on Federal Reserve audits and call for a f ull audit of the Federal Reserve System to be completed by the end of 2010. At this writing, 245 of my fellow Congressmen have cosponsored this bill and we hope to have hearings in the near future. In the Senate, Republicans Jim DeMint, Mike Crapo and David Vitter have cosponsored S. 604, companion legislation introduced by Bernie Sanders. I am very encouraged by the tremendous growing momentum on Capitol Hill.

Read Full Post »

Interview of June 17th, 2009 of Rep. Ron Paul on HR 1207 to Audit the secret workings of The Federal Reserve company, a cartel of 12 privately owned banks:

Read Full Post »

Wilson commented that the bill, HR 1207—sponsored by Congressman Ron Paul (TX-14)—would “provide a full accounting of the Fed’s irresponsible activities of moving trillions of dollars to foreign governments and banks, crashing markets, and wrecking the economy.”

“The Federal Reserve has committed taxpayers to bailouts totaling $7.76 trillion in less than two years,” said Wilson. “No member of Congress, including House Republicans, knows where the entirety of this $7.76 trillion will go, because the Fed is mostly exempt from being audited and attempts at oversight have been met with consistent stonewalling.”

Read Full Post »

The Creature from Jekyll Island may be getting a little sunshine at last. And it may prove to be even more hideous than once thought.

On February 26th, Congressman Ron Paul introduced the “Federal Reserve Transparency Act of 2009,” legislation that would require an audit of the Federal Reserve Board of Governors and the Federal Reserve Banks. And why does he think this necessary?

Read Full Post »

Next »