HR 1207 Federal Reserve Transparency Act...

[galtgulch]

This is the link to the text of the Bill:

http://www.govtrack.us/congress/billtext.xpd?bill=h111-1207

http://www.law.cornell.edu/uscode/html/usc...1_00000714----0 00-.html

the above is to the Law code for auditing the Fed

>>>"Posted by Matthew Heath on 04/21/09 1:22 PM

On Wednesday, April 15th, the Sonoma County GOP held its monthly meeting. Sonoma County Republican Party support for Ron Paul's Federal Reserve Transparency Act was up for a vote. The resolution of support for HR 1207 was introduced in March; but was postponed one month, in order for committee members to study and learn about HR 1207, to learn about the Federal Reserve.

We had some real opposition to this resolution. One committee member even wrote a 37 page essay on "Why Oppose HR 1207." It was a historical analysis of a national bank, loose money v. hard money, Jefferson, Jackson and Ron Paul. It was a propaganda piece, written with the intent to confuse the committee members. It was also a blatant attack on libertarianism. The fight was on and we had to win.

When the resolution of support for HR 1207 was up, I stood up and presented a case in favor of HR 1207 by simply providing everyone with the text of HR 1207 and the law regarding how the Federal Reserve is audited. Then I explained what the existing law is (with regards to auditting) and how HR 1207 would change it. There was long discussion; but well worth it. The resolution of support for HR 1207 received 57% of the vote.

5 Ron Paul Republicans in Sonoma County, introduced the Federal Reserve for discussion. After a month long debate, the Sonoma County Republican Party voted in favor of Ron Paul's Federal Reserve Transparency Act. These are exciting times!

Below, you will find the text of the resolution. (Thanks to Alameda County for getting the ball rolling. Who's next, huh?)

Sonoma County Republican Party Resolution of Support for HR 1207

Approved by committee voice vote on April 15th, 2009

Whereas, we, as Members of the Sonoma County Republican Party applaud transparency and accountability in government and reject government secrecy involving monetary policy that impacts the entire economy; and

Whereas, serious discussions of proposals to oversee and audit the Federal Reserve are long overdue; and

Whereas, the Federal Reserve can enter into agreements with foreign governments and foreign central banks and the United States Congress is prohibited from overseeing these agreements; and

Whereas, we, as Members of the Sonoma County Republican Party, believe agreements made by the Federal Reserve with foreign powers and foreign banking institutions should be subject to Congressional oversight; and

Whereas, the United States Constitution, gives the United States Congress the authority to coin Money and regulate the value thereof; and

Whereas, auditing the Federal Reserve will allow Congress to assert its constitutional authority over monetary policy and help to protect the value of the United States dollar;

Therefore, BE IT RESOLVED, that we, the Members of the Sonoma County Republican Party, in defense of the United States Constitution, STRONGLY URGE the representatives of the 111th United States Congress to support the Federal Reserve Transparency Act of 2009."<<<

And here is a link to Bailout Watch where an article by Anthony Gregory of Campaign For Liberty entitled Seeing Through the Federal Reserve can be found under Expert Exchange

http://www.bailoutwatch.net/exchange/seein...federal-reserve

www.campaignforliberty.com 21 Apr 10PM 147858 and growing

gulch

Edited April 24, 2009 by galtgulch

[galtgulch]

And here is a link to Bailout Watch where an article by Anthony Gregory of Campaign For Liberty entitled Seeing Through the Federal Reserve can be found under Expert Exchange

http://www.bailoutwatch.net/exchange/seein...federal-reserve

www.campaignforliberty.com 21 Apr 10PM 147858; 23Apr 6PM 148444 and growing

gulch

The following posted on Campaign For Liberty website:

Contra Costa County Republican Party Supports HR 1207

On Tuesday, April 21, 2009, the Contra Costa County (California) GOP held its monthly meeting. A resolution asking to support HR 1207, The Federal Reserve Transparency Act of 2009, was introduced as new business. The text of HR 1207, the list of its current cosponsors, and the first page of the April 16 Federal Reserve H.4.1 statistical release were provided to the members at the beginning of the meeting. The first row of the H.4.1's starkly illustrates that the Fed, by its own (limited) admission, more than doubled the size of its balance sheet from $868B to $2.098T in just the past year.

http://www.federalreserve.gov/releases/h41/Current/

A brief presentation was given explaining the bill, the need for audit of the Fed, and the implications of debt monetizations unprecedented in scope. Also, a recently-printed and now worthless $100 Trillion Zimbabwe bank note was passed around the room.

http://en.wikipedia.org/wiki/File:Zimbabwe...009_Obverse.jpg

Discussion of the bill ensued. It should be mentioned that the majority of this particular central committee's members did not identify themselves as Ron Paul supporters last year. I.e., they are mainstream Republicans. Some members stated their lack of familiarity with both the bill and the unaccountability of the Fed. However, many did understand the Constitutional issues involved, the importance of transparency, and the systemic risk of inflation.

The motion carried 14-2, with 3 abstentions. The abstaining members indicated a willingness to vote affirmatively had they been provided additional time to independently research the issue---a principled stand. For others, the highly dynamic nature of current economic/political conditions suggested a more timely stance was apropos.

So it's now Contra Costa's turn to ask, "Who's next?" Our resolution took inspiration from our friends in Sonoma and Alameda with some subtle improvements. Let's the keep the ball rolling.

Contra Costa County Republican Party Resolution of SUPPORT for HR 1207 - The Federal Reserve Transparency Act of 2009

Whereas, we, as Members of the Contra Costa County Republican Party applaud transparency and accountability in government and reject government secrecy involving monetary policy that impacts the entire economy; and

Whereas, serious discussions of proposals to oversee and audit the Federal Reserve are long overdue; and

Whereas, the Federal Reserve can enter into agreements with foreign governments and foreign central banks and the United States Congress is prohibited from overseeing these agreements; and

Whereas, we, as Members of the Contra Costa County Republican Party, believe agreements made by the Federal Reserve with foreign powers and foreign banking institutions should be subject to Congressional oversight; and

Whereas, Article I, Section 8 of the Constitution for the United States of America, gives the Congress the authority to coin Money and regulate the value thereof; and

Whereas, auditing the Federal Reserve will allow Congress to assert its constitutional authority over monetary policy and help to protect the value of the United States dollar;

Therefore, BE IT RESOLVED, that we, the Members of the Contra Costa County Republican Party, in defense of the Constitution for the United States of America, STRONGLY URGE the representatives of the 111th United States Congress to support the Federal Reserve Transparency Act of 2009.

[galtgulch]

Et al,

I understand that there are now 88 co sponsors of HR 1207 with 33 new ones this week alone!

Transparency is a bipartisan issue so your own congressman should be interested in joining to make the Federal Reserve's activities open for all to see at least to which banks and foreign countries money has been given.

www.downsizeDC.org is a good place to go if you want to write a letter to your Senators and Congressman. Just click on Campaigns and find a campaign you can believe in. You can add your own words to the one already written on the subject.

There is an End The Fed campaign which would be an appropriate place to suggest that they co sponsor the HR1207 bill Federal Reserve Transparency Act.

www.campaignforliberty.com 23 Apr 9PM 148457; 24Apr 7AM 148540 notice how effective these passionate activists in the movement are!

gulch

Edited April 24, 2009 by galtgulch