galtgulch Posted May 28, 2009 Share Posted May 28, 2009 What follows is an article from WorldNetDaily about Ron Paul's Plan to Audit the Federal Reserve:Here is the tinyurl for this story:http://tinyurl.com/qbyqwk>>>"A Free Press For A Free PeopleFounded 1997 Wednesday, May 27, 2009 Evening Edition ON CAPITOL HILLPlan to audit Fed steamrolls aheadHouse co-sponsors now total 179, companion bill begins Senate trekPosted: May 25, 20098:08 pm Eastern© 2009 WorldNetDailyU.S. Rep. Ron Paul, R-TexasU.S. Rep. Ron Paul, R-Texas, long has opposed the power held by the Federal Reserve and its ability to manipulate the nation's economy and over the years has launched proposals to get rid of the quasi-governmental agency, without significant support.But his current plan, H.R. 1207, the Federal Reserve Transparency Act of 2009 to demand an audit of the organization, is quickly gaining steam.As of today, the proposal had collected a bipartisan coalition of 179 members of Congress who have signed on as co-sponsors.Not that Paul's ultimate goals have changed significantly."To understand how unwise it is to have the Federal Reserve, one must first understand the magnitude of the privileges they have," he wrote in a new Straight Talk commentary. "They have been given the power to create money, by the trillions, and to give it to their friends, under any terms they wish, with little or no meaningful oversight or accountability."He's even said Congress should "reassert its constitutional authority over monetary policy."Besides the support in the U.S. House, a companion bill, S. 604, also now has been introduced in the U.S. Senate by Sen. Bernard Sanders of Vermont. It has been referred to the Senate Committee on Banking, Housing and Urban Affairs.Paul said that should help the effort "begin to gain momentum."A spokeswoman in Paul's congressional office also told WND that Rep. Barney Frank, the chief of the financial services committee in the House, already has expressed a willingness to hold hearings on the issue.When Paul introduced his latest proposal to audit the organization there were 11 co-sponsors, which grew quickly to 124 just a few weeks ago.The bill calls for the comptroller general of the United States to audit the private Federal Reserve and report to Congress before the end of 2010.The Constitution, Paul said, gives Congress, not the private Federal Reserve, "the authority to coin money and regulate the value of the currency."Stunning Fed fraud DVD just $4.95! 'The Money Masters: How Banks Create the World's Money'Paul explained his advocacy for the H.R. 1207 audit in the U.S. House:"Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar," the Texas Republican said. "Since 1913 the dollar has lost over 95 percent of its purchasing power, aided and abetted by the Federal Reserve's loose monetary policy."How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation," he said.Paul called oversight of the Fed "long overdue."Federal ReserveYou've never needed to understand money like you need to understand it now! "Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free" unravels the deception of the Federal Reserve and presents a crystal clear picture of the financial abyss towards which we are heading."Since its inception, the Federal Reserve has always operated in the shadows, without sufficient scrutiny or oversight of its operations," he continued."The Federal Reserve can enter into agreements with foreign central banks and foreign governments, and the GAO is prohibited from auditing or even seeing these agreements. Why should a government – established agency, whose police force has federal law enforcement powers, and whose notes have legal tender status in this country, be allowed to enter into agreements with foreign powers and foreign banking institutions with no oversight?"Paul's bill would also make the Federal Reserve's funding facilities, including the Primary Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed Securities Lending Facility subject to congressional oversight.His new commentary was titled, "Audit the Fed, Then End It!"It cited some "pushback" from individuals in Congress."The main argument seems to be that Congressional oversight over the Fed is government interference in the free market," he wrote. "This argument shows a misunderstanding of what a free market really is. Fundamentally, you cannot defend the Federal Reserve and the free market at the same time."The Fed negates the very foundation of a free market by artificially manipulating the price and supply of money – the lifeblood of the economy. In a free market, interest rates, like the price of any other consumer good, are decentralized and set by the market. The only legitimate, Constitutional role of government in monetary policy is to protect the integrity of the monetary unit and defend against counterfeiters," he said.What has actually happened is the U.S. is that Congress "has abdicated this responsibility to a cabal of elite, quasi-governmental banks who, instead of stabilizing the economy, have destabilized it," he wrote.Paul said it took "less than two decades for the Federal Reserve to bring on the Great Depression of the 1930s."He also said some have been worried about bringing the Fed into the "political process.""The Federal Reserve is already heavily entrenched in the political process, as the Fed chairman is a political appointee. High level officials routinely make the rounds between positions at the Fed, member banks, Treasury and back again, taking care of friends and each other along the way," he said."<<<>>>"Note: Concerned individuals may contact members of the House Committee of Financial Services in reference to H.R. 1207 and the Senate Banking, Housing, and Urban Affairs committee in reference to its companion bill, S. 604. They may also contact their respective representatives and senators. If you'd like to sound off on this issue, please take part in the WorldNetDaily poll.Related offers:The Creature from Jekyll Island: A Second Look at the Federal Reserve""The Fed: Fraud of the Century" – Unconstitutional cartel literally creates problems it was supposed to prevent"Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free""$700 Billion Bailout": What it means to you, your money, your mortgage and your taxes"Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments""Bailout Nation: How Easy Money Corrupted Wall Street and Shook the World Economy"Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis""Hope of the Wicked: Master Plan to Rule the World (book) ""Financial Armageddon: Protect Your Future from Economic Collapse"Stop the bailout! Magnetic bumper stickerSurviving economic meltdown in the age of ObamaSubscribe to Jerome Corsi's new weekly economic newsletter, Red Alert, for one year and, for a limited time get "The Obama Nation" free. (This offer applies only to annual subscriptions for $99.)Get "Taking America Back," Joseph Farah's manifesto for sovereignty, self-reliance and moral renewalPrevious stories:124 congressman demand audit of Federal ReservePush to audit Federal Reserve gains steamCongressman: Audit the Fed's booksFinancial fix? Abolish the Fed, says congressmanFed says economy even worse than thoughtFederal obligations exceed world GDPReal budget deficit: $4 trillionTrue deficit: $3.5 trillionUnstimulated! Dow plunges 300Trillions? Get ready for quadrillionStimulus still can't help Wall StreetStocks reject Obama's plansFed borrowing could reach $4 trillionLawmakers in 20 states move to reclaim sovereigntyCalifornia prepares to stop paying billsStimulus-plan doubts push Dow under 8,000Pelosi: Birth control will boost economyDemocrats now in control, say economy to get worseWill Obama take a pay cut, too?Obama adviser: White males need not applyFleeced! Obama's blanket 'stolen'$1 billion allocated for batteriesNObama: Wall Street sees worst Inauguration DayIMF warns of economic riots, police ready for civil unrestGOP congressman: 'It is not your money'How Paulson nationalized biggest banks in the U.S. Copyright 1997-2009All Rights Reserved. WorldNetDaily.com Inc. "<<<www.campaignforliberty.com 28 May 12:33AM 154,702gulch Link to comment Share on other sites More sharing options...
Michelle Posted May 28, 2009 Share Posted May 28, 2009 So there actually is an article on there that doesn't have to do with Jesus or liberal bashing... Link to comment Share on other sites More sharing options...
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