Audit the Federal Reserve
July 7, 2009 By Save America
As we mentioned yesterday in, “America, what’s really happening”, who’s really pulling the strings of America these days and where has the common sense of our elected officials gone? Have the majority of them gone mad….. does any of this make sense? Who are these people in which the American people have placed their trust to represent their interests?
One voice, Senator DeMint raises the question again on the accounting of the Federal Reserve. The Federal Reserve refuses to give a public accounting of the trillions of taxpayers’ dollars spent. Congress has the responsibility to force a public audit of the Federal Reserve to reveal how our tax dollars have and are being spent, especially since VP Biden now states they underestimated the state of the economy and now want to gear up for another stimulus shakedown.
If we allow the Fed to remain out of control and shrouded in secrecy which allows for abuse and the continued stealing of our tax dollars, well shame on us. As the value of our money decreases, the Federal Reserve System forces fuel, food, housing, medical care and education costs upward except for those on the government dole.
And, then this hypocrisy….
History has shown us that riots, violence and full scale police states can result when people realize fiat money isn’t worth the paper it’s printed upon and people begin to refuse it. Isn’t America worth preserving…….come on people, stop this madness. This is the greatest country in the world!
This is an email sent today from, Campaign For Liberty. Please sign the petitions and let your Patriotic Voices be heard!
“Earlier today, the first shot in our battle to pass Audit the Fed through the U.S. Senate was fired on the Senate floor by Senator Jim DeMint of South Carolina.
Senator DeMint, who has a well-deserved reputation for taking the battle to the other side in the Senate, once again proved why he is such a valuable ally in our fight to bring transparency and accountability to the Federal Reserve.
A little while ago, the Senate voted to pass HR 2918, the Legislative Branch Appropriations Act. This $3 billion bill contains, among many other things, provisions for GAO audits on certain agencies.
Seizing on a chance to take quick action to bring Audit the Fed up for a vote, and with the GAO provisions in mind, Senator DeMint attached the full text of S 604, the Senate version of Ron Paul’s Audit the Fed bill, to HR 2918 as Senate Amendment 1367 before it was considered for final passage.
However, Senate Democrats refused to even allow a vote on the amendment! That’s right. The internationalist, Fed-loving elite in the Senate used a parliamentary tactic to shut down DeMint’s amendment.
After Senator DeMint brought Audit the Fed to the floor, Senator Ben Nelson of Nebraska raised a “point of order” to prevent a vote, claiming that the amendment violated Senate Rule 16 by “legislating” on an appropriations bill. The Senate president agreed, and the amendment was shot down.
Senator DeMint did not back down, though, and directly challenged Senate leadership by pointing out the other GAO audits contained in the bill. As Senator DeMint listed them off, the Senate president was forced to agree with Senator DeMint that each one he described, all of which would be left in for final passage, also violated Senate Rule 16.
Which tells us at least one thing: the problem wasn’t with “legislating” on the bill or violating Senate Rules (which is commonly done). Shooting down the amendment was about preventing a thorough audit of the Federal Reserve for the first time in its history!
Senate leadership is hoping this issue will just fade away so they can get on to what they deem to be more “important” business, like dictating what kind of health care plan you and I can carry or passing destructive Cap-and-Tax legislation.
But the American people deserve answers on what the Fed has done with trillions of our tax dollars and what they are committing us and future generations to as part of their secret deals with foreign central banks and governments.
The leadership decided today to turn their backs on transparency, but our fight is just beginning.
As Senator DeMint made clear on the floor, the Audit the Fed bill has wide bipartisan support. He rightly warned the Senate that even if they delay today, they WILL have to deal with the issue on the floor.
It is up to you and me to back up Senator DeMint’s words by making sure the momentum continues to build and the bill comes up for a final vote.
The rejection of the Audit amendment is just the first battle in our war. Now is the time to really put the pressure on the U.S. Senate to Audit the Fed!
Senator DeMint fired the opening salvo and showcased the hypocrisy of the Senate for allowing other GAO audits to be included in the bill while refusing to even allow a vote on Fed transparency.”
Click here to sign the online petition. And visit Audit the Fed action page for contact information to call, write, and fax your senators and urge them to support S 604 and to push for a final vote.
July 10, 2009 By Save America
While we showed you this amendment was blocked by the Senate authorities Monday, as they claimed it violated rules for provisions attached to spending bills Congressman Ron Paul has vowed he will not be stopped in his efforts. He slammed the Senate authorities for blocking this bill and continued in his crusade to resolve efforts to audit the Federal Reserve. The Senate claimed this amendment violated rules for provisions attached to spending bills so they blocked it.
Senator Jim DeMint attempted to attach the legislation which already has 250 co-sponsors in the House, as a provision to a spending bill as a “façade”. Congressman Paul went on to say, “Technicalities are always ignored for things they want, this means they don’t want it and this is their organized effort now to stop us, but we’re not going to be stopped, it just going to energize everybody at the grass roots.”
He went on to say, “I think the biggest thing is cronyism, who got the benefits, who really got some of the Federal Reserve funds as well as TARP funds, and I don’t think they want people to know about it. I’d like to know what they’re doing internationally, what kind of agreements they have with international banks, with other governments, and also what they do in the gold market –how they manipulate the value of the dollar by manipulating gold prices”.
Paul said it makes no sense to give the Fed additional power since they’re responsible for creating the bubble which lead to the economic collapse initially. Obama’s administration’s new regulatory reform plan, which will officially hand the Federal Reserve complete control over the US economy will be the Federal Reserve the authority to regulate and shut down any company whose activity could threaten the economy and markets. Does this sound like Free Enterprise to you? We all know that a number of issues could be brought to light with increased transparency as to where the money has gone. The Fed has refused to disclose where the trillions in bailout funds have gone despite a lawsuit which was filed by Bloomberg. The current administration is appearing to make a concerted effort to destroy the engine of our economy; small businesses. It would certainly be interesting to see what would be uncovered, an audit would provide that information.
The Congressmen went on to say Washington elite will do everything possible to stop the process and prevent this bill from passing. He feels it represents the first major step in abolishing the Federal Reserve.
Congressman Paul went on to say, “When we discover what’s really going on, I think the American People are going to demand the next step, they’re going to demand honest money, it’s happened many times in history”.
He appeared on Fox News Freedom Watch with Judge Napolitano.
Update July 21, 2009 Ron Paul
This post is from the Save America website. Please visit our website at changefor2012.com
Just weeks ago, you could view all the government document resources online. You could track Executive Orders etc. The site has always been public, but now, it has been changed to where you have to become a member to view resources. What’s up with that? Why do they need to track who is viewing the Federal Register?
The hearings on Capitol Hill provided us with a great deal of information about the types of arguments that will be levied against meaningful transparency and how the secretive central bankers will defend the status quo that is so beneficial to them.
Claims are made that auditing the Fed would compromise its independence. However, by independence, they really mean secrecy. The Fed clearly cherishes its vast power to create and spend trillions of dollars, diluting the value of every other dollar in circulation, making deals with other central banks, and bailing out cronies, all to the detriment of the taxpayer, and to the enrichment of themselves. I am happy to challenge this type of “independence”.
They claim the Fed is endowed with special intellectual abilities with which to control the market and that central bankers magically know what the market needs. We should just trust them. This is patently ridiculous. The market is a complex and intricate thing. No one knows what the market needs other than the market itself. It sends signals, such as prices, that should be reacted to and respected, not thwarted and controlled. Bankers are not all-knowing and cannot ignore the rules of supply and demand. They might act as if they are, but their manipulation of the market just ends up throwing it wildly off balance, which gives us the boom and bust cycles.
They claim the Fed must remain apolitical. No organization is apolitical that relies on the President to appoint the Chairman. In fact, it is subject to the worst sort of politics – power to create trillions of dollars and affect the value of every dollar in the country without the accountability of direct elections or meaningful oversight! The Fed typically enacts monetary policy that is favorable to particular administrations close to elections, to the detriment of long term considerations. They do this partly because of the political appointee process for the Chairmanship.
The only accountability the Federal Reserve has is ultimately to Congress, which granted its charter and can revoke it at any time. It is Congress’s constitutional duty to protect the value of the money, and they have abdicated this responsibility for far too long.
Sounds like the Feds got something to hide, doesn’t it?
On Thursday of last week, the Federal Reserve’s vice chairman, Donald Kohn, threatened to jack up interest rates if Congress continues to expose “some of the U.S. central bank’s most sensitive decisions to political scrutiny,” Reuters reported. “Any substantial erosion of the Federal Reserve’s monetary independence likely would lead to higher long-term interest rates as investors begin to fear future inflation,” Kohn told a House of Representatives Financial Services subcommittee.
Kohn’s threat came as Ron Paul’s bill to audit the Federal Reserve (HR 1207) has picked up 256 co-sponsors — more than 55% of the House of Representatives. HR 1207’s companion bill in the Senate, S 604, has already attracted 8 co-sponsors. Kohn and his boss Ben Bernanke are obviously very concerned over the prospect that the American people may soon have a look at their books.
Legislation Introduced to put Federal Government in Control of Community Banks
H.R. 3126 would control the most intricate details of operating a community bank.
New Iberia, LA, July 9, 2009 – H.R. 3126, misleadingly named the Consumer Financial Protection Agency Act of 2009, was introduced late Wednesday, July 8 by Rep. Barney Frank (D-MA), and which would create a completely new federal agency to oversee and control the daily operations of community and small town banks.
Under H.R. 3126, every bank would be forced to offer federally approved “standard financial products and services.” This would impose uniform products on every bank without regard to local communities, economies, or needs of customers. Deviations from the federal mandates would make community banks subject to frivolous lawsuits.
“This is a breathtaking control grab of ordinary community banks in small towns across America,” said Ross Little, Jr., Senior Vice President of Teche Federal Bank. “This measure would grant unprecedented power to the federal bureaucrats and grant even more power to the Federal Reserve, an already unaccountable and non-transparent body. Americans should be outraged.”
This legislation would devastate community banks, hurt the economy, and harm the ability of community banks to offer services to those who need them most, particularly low to moderate income families. It would result in major layoffs in the banking industry. It would also make it much more difficult to provide financing for home loans and other services.
“Clearly, Washington liberals do not have the best interests of ordinary Americans at heart, despite their repeated claims. This legislation should be exposed for what it is.” said Little.