"Ron Paul's Audit the Fed Bill Hits 207 Co-Sponsors"


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Here is the link to CNBC article on Federal Reserve Transparency Act:

http://www.cnbc.com/id/31206243/

<<<"Ron Paul's Audit the Fed Bill Hits 207 Co-Sponsors House Minority Leader Boehner joins bi-partisan coalition supporting Federal Reserve transparency

By: Business Wire | 10 Jun 2009 | 11:01 AM ET

ALEXANDRIA, Va., Jun 10, 2009 (BUSINESS WIRE) -- H.R. 1207, The Federal Reserve Transparency Act of 2009, yesterday surged past the 200 co-sponsor mark, nearing a majority in the U.S. House of Representatives. The bill, introduced by Congressman Ron Paul (R-TX), now has 207 cosponsors including 51 Democrats.

Signing on to the bill yesterday were Republican Minority Leader John Boehner (R-OH) and influential Rules Committee Ranking Member David Drier (R-CA). The bill has gained 28 co-sponsors just in the month of June.

Congressman Paul's legislation is aimed at pulling back the curtain from a secretive and unaccountable Federal Reserve. Congress and the American people have minimal, if any, oversight over trillions of dollars that the Fed controls.

With recent bailouts and spending decisions shining a spotlight on the actions of the Federal Reserve, more and more pressure is bearing down on Congress to take action and demand accountability and transparency.

Minority Leader Boehner joins a group of legislators from across the ideological spectrum. These Representatives include Rep. Tom Price (R-GA), head of the conservative Republican Study Committee, and Rep. Lynn Woolsey (D-CA), former head of the liberal Progressive Caucus.

"Americans from every walk of life, across the country, are speaking out and demanding transparency at the Federal Reserve," said Campaign for Liberty President John Tate. "Members of Congress, whether they are conservatives, moderates, progressives, business Republicans, libertarians or blue dog Democrats, are listening to their outraged constituents and coming together to support H.R. 1207." "The American people have had enough. Enough of an out of control Fed, enough of run away government spending and enough of the secretive Federal Reserve practices that won't even allow us to know where our money is going," continued Mr. Tate. "And the message is getting through loud and clear as indicated by the overwhelming support for this legislation across the country and in the halls of Congress." To view a full list of co-sponsors, please click here.

H.R. 1207, would open up the Fed's funding facilities, such as the Primary Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed Securities Lending Facility to Congressional oversight and an audit by the non-partisan Government Accountability Office. Additionally, audits could include discount window operations, open market operations, and agreements with foreign central banks, such as ongoing dollar swap operations with European central banks.

SOURCE: Campaign for Liberty CONTACT: Campaign for Liberty Jesse Benton, 703-347-6886 or 202-246-6363 Copyright Business Wire 2009 -0- KEYWORD: United States">>>

www.campaignforliberty.com 11 Jun 5AM 157,604, 5PM 157,849, 8PM 157,943

Even my own congressman has become a cosponsor I like to think because of my repeated urging with emails explaining the need for an audit of the Federal Reserve which went to both Senators as well.

gulch

<<<"June 11, 2009

<<<"Audit the Fed Bill Reaches Crucial Benchmark

Washington, D.C. - Congressman Ron Paul's Federal Reserve Transparency Act, HR 1207, has reached and surpassed the level of 218 cosponsors in the House of Representatives, which means it is now cosponsored by a majority of the members.

The 218th cosponsor was Dennis Kucinich (OH-10), and the bill has since received its 222nd cosponsor.

“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul. “I look forward to this issue receiving greater public exposure.”

Hearings on Federal Reserve transparency are expected within the next month, as part of the Financial Services Committee's series of hearings on regulatory reform.">>>

12 JUN Now up to 222 cosponsors of HR1207 and its companion bill in the Senate S604 has its first cosponsor!

<<<"Sen. Jim DeMint (R-SC) today became the first cosponsor of S 604, H.R. 1207's companion legislation. We still have a long way to go before we pass real legislation to Audit the Fed, but this is yet another major step toward our ultimate goal.

Sen. DeMint is highly respected and one of the most principled conservatives in Washington. Bernie Sanders (I-VT), 604's lead sponsor, is a firebrand Independent progressive. To see these two guys on a bill together has to tell you that something special is going on.">>>

www.campaignforliberty.com 12 Jun 5 AM 158,101

gulch

Edited by galtgulch
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This is from a post on the Daily Paul site. C4L not the only org working on this. The Founders almost got it right. Now that we see the consequences of the errors or omissions just means we have our work cut out for us to tweak as necessary to restore our freedom and keep it this time.

<<<"218 will NOT move it out of committee... here's why

Posted June 12th, 2009 by sunny

218 will NOT move it out of committee...here's why

On June 11th, 2009 cactus1010 says:

http://www.nolanchart.com...

Q: "What does it take to get this bill out of committee and on the floor of the House for a vote?"

A: It is possible the bill will be tabled, or die, while in committee. Committees were formed originally to have focus groups, but their modern usage merely serves to endow the committee chairs from the majority parties with a lot of power, and to stifle the minority party's bills from ever reaching the House floor.

To pass, the committee must have quorum - the necessary amount of representatives present to vote on it - and passing requires a majority of those in attendance at committee before moving to a House vote where only a simple majority of 218 is needed. This process is described here, see page 21/67.

Currently, 34 co-sponsors are on the Financial Services Committee of 71 members, so just two more co-sponsors would give the bill a majority! Please check the roster to the right. Attached here is a spreadsheet with all current co-signers on pages 1-5, and the Financial Services committee members all on page 6. In the file, just click on their name to visit their website and contact them.

Q: "How many co-sponsors does it need to force that? Or does that even matter?"

A: The number of co-sponsors technically does not matter, and co-sponsors are not obligated to vote for the bill. However, it serve as an indicator of the minimum support a bill expected on the House floor, so is a key indicator while in committee. While bills are in committee, they can be marked up and amended, which is why the simplicity of Paul's bill is key - there is simply not much to mark up.

Q: "What if the Chairman Barney Frank (D-MA) continues to postpone a vote on HR 1207?"

A: Representative Barney Frank, D-MA, is the chair of the Financial Services committee. He has not co-signed the bill, and traditionally is allied closely with the banking special interests and the FED, so no cooperation can be expected from him. Frank has spoken about Paul, HR 1207, and committee politics - and boldly proclaiming that there is no inflation while inflation remains high at 7%.

However, page 20/67 states that "three or more members of a standing committee may file with the committee a written request that the chairman call a special meeting" to force a vote.

Furthermore, the rules also state that the committee may be "discharged" or circumvented if a majority of Representatives (218) have signed a motion to discharge the bill from committee. (pages 31-32/67)

Obviously, to help secure the bill's passage, a majority of co-signers - just 11 more would be helpful. The most prudent path still appears to move the bill through committee, and secure a couple more committee members as co-signers. Writing a quick note to Financial Services committee would also help.

Q: "What is the gravest threat to the bill?"

A: I happen to believe that if this bill can be approved by Congress and delivered to the President, he would sign it per all of his rhetoric about an open government and transparency. A win in the House now appears likely, so I would say the gravest threat is that the bill will die in the Senate. Senator Bernard Sanders (I-VT) has sponsored S 604, the "Federal Reserve Sunshine Act of 2009." The text of the bill is currently identical to HR 1207, but Sanders has zero co-sponsors.

Therefore, activists should target their U.S. Senator's offices. I recommend using DownsizeDC's "Audit the FED" Campaign to thank or urge your representative and Senators to co-sign this bill. However, writing directly to your Senator's office and placing a phone call are also recommended.

An action item summary:

1. Contact your Representative or target a few from the list above. If two (2) more members of the Financial Services Committee co-sign, HR 1207 will be assured of passing committee unchanged. If eleven (11) more members of the House co-sign, HR 1207 will be assured of passing the House.

2. Write a note to the Financial Services Committee, urging them to vote on HR 1207 and pass it unamended.

3. Urge your Senators to co-sign S 604 by DownsizeDC, but also by email and phone.

4. Spread the word to friends and family about the impact of this bill. Education is key!

Rely on sites like Campaign for Liberty and Liberty Maven to keep up with the current status. Shelly Roche and the gang at www.BreakTheMatrix.com is doing a nice job as well! (emblem)

Remember HR 1207 is not just an audit of the FED, it is an audit of your local Representative!">>>

12 Jun 5 AM 158,101, 14 Jun 11 AM 159,157

gulch

Edited by galtgulch
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  • 1 month later...

Here is the link to CNBC article on Federal Reserve Transparency Act:

http://www.cnbc.com/id/31206243/

<<<"Ron Paul's Audit the Fed Bill Hits 207 Co-Sponsors House Minority Leader Boehner joins bi-partisan coalition supporting Federal Reserve transparency

By: Business Wire | 10 Jun 2009 | 11:01 AM ET

ALEXANDRIA, Va., Jun 10, 2009 (BUSINESS WIRE) -- H.R. 1207, The Federal Reserve Transparency Act of 2009, yesterday surged past the 200 co-sponsor mark, nearing a majority in the U.S. House of Representatives. The bill, introduced by Congressman Ron Paul (R-TX), now has 207 cosponsors including 51 Democrats.

Signing on to the bill yesterday were Republican Minority Leader John Boehner (R-OH) and influential Rules Committee Ranking Member David Drier (R-CA). The bill has gained 28 co-sponsors just in the month of June.

Congressman Paul's legislation is aimed at pulling back the curtain from a secretive and unaccountable Federal Reserve. Congress and the American people have minimal, if any, oversight over trillions of dollars that the Fed controls.

With recent bailouts and spending decisions shining a spotlight on the actions of the Federal Reserve, more and more pressure is bearing down on Congress to take action and demand accountability and transparency.

Minority Leader Boehner joins a group of legislators from across the ideological spectrum. These Representatives include Rep. Tom Price (R-GA), head of the conservative Republican Study Committee, and Rep. Lynn Woolsey (D-CA), former head of the liberal Progressive Caucus.

"Americans from every walk of life, across the country, are speaking out and demanding transparency at the Federal Reserve," said Campaign for Liberty President John Tate. "Members of Congress, whether they are conservatives, moderates, progressives, business Republicans, libertarians or blue dog Democrats, are listening to their outraged constituents and coming together to support H.R. 1207." "The American people have had enough. Enough of an out of control Fed, enough of run away government spending and enough of the secretive Federal Reserve practices that won't even allow us to know where our money is going," continued Mr. Tate. "And the message is getting through loud and clear as indicated by the overwhelming support for this legislation across the country and in the halls of Congress." To view a full list of co-sponsors, please click here.

H.R. 1207, would open up the Fed's funding facilities, such as the Primary Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed Securities Lending Facility to Congressional oversight and an audit by the non-partisan Government Accountability Office. Additionally, audits could include discount window operations, open market operations, and agreements with foreign central banks, such as ongoing dollar swap operations with European central banks.

SOURCE: Campaign for Liberty CONTACT: Campaign for Liberty Jesse Benton, 703-347-6886 or 202-246-6363 Copyright Business Wire 2009 -0- KEYWORD: United States">>>

www.campaignforliberty.com 11 Jun 5AM 157,604, 5PM 157,849, 8PM 157,943

Even my own congressman has become a cosponsor I like to think because of my repeated urging with emails explaining the need for an audit of the Federal Reserve which went to both Senators as well.

gulch

<<<"June 11, 2009

<<<"Audit the Fed Bill Reaches Crucial Benchmark

Washington, D.C. - Congressman Ron Paul's Federal Reserve Transparency Act, HR 1207, has reached and surpassed the level of 218 cosponsors in the House of Representatives, which means it is now cosponsored by a majority of the members.

The 218th cosponsor was Dennis Kucinich (OH-10), and the bill has since received its 222nd cosponsor.

“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul. “I look forward to this issue receiving greater public exposure.”

Hearings on Federal Reserve transparency are expected within the next month, as part of the Financial Services Committee's series of hearings on regulatory reform.">>>

12 JUN Now up to 222 cosponsors of HR1207 and its companion bill in the Senate S604 has its first cosponsor!

<<<"Sen. Jim DeMint (R-SC) today became the first cosponsor of S 604, H.R. 1207's companion legislation. We still have a long way to go before we pass real legislation to Audit the Fed, but this is yet another major step toward our ultimate goal.

Sen. DeMint is highly respected and one of the most principled conservatives in Washington. Bernie Sanders (I-VT), 604's lead sponsor, is a firebrand Independent progressive. To see these two guys on a bill together has to tell you that something special is going on.">>>

www.campaignforliberty.com 12 Jun 5 AM 158,101

gulch

Update 12 July HR 1207 cosponsors 260 from www.thomas.gov

S.604 8 cosponsors

www.campaignforliberty.com 180,874 thus an increment of 22K in one month as growth rate accelerates as well. Will we ever reach one million? No doubt! Will we ever reach 10 Million more than likely! Will we ever reach 50 million? It will be easier to do as our numbers grow. WIll we ever reach 100million? Once the young people coming up through the schools realize what we are up to and read the books. Yes!

www.campaignforliberty.com 12 Jul 4PM 181,038 When I tell people that the politicians take an oath to uphold the Constitution and then ignore it, they agree. Then I tell them that the campaignforliberty is going to change that and is growing rapidly.

gulch

Edited by galtgulch
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