HR 1207 UPDATES "The Federal Reserve Transparency Act"

[peaceandlove]

Ron Paul Interview

Posted by Matt Hawes on 03/11/10

"Giving the Fed more power makes "no sense whatsoever."

On Thursday, Congressman Paul appeared on Bloomberg TV to discuss the Federal Reserve, placing the Consumer Financial Protection Agency under the Fed, and the need for government to stop intervening in the economy.

VIDEO (5:36): http://www.youtube.com/watch?v=44EOmmkx3u8

SOURCE: http://www.campaignforliberty.com/blog.php?view=33427

[peaceandlove]

See new post today above also:

Answers Sought from Ben Bernanke

Posted by Matt Hawes on 03/11/10

House Financial Services Committee Chairman Barney Frank has written a letter to Federal Reserve Chairman Ben Bernanke asking him to "fully investigate" possible incidents of Fed wrongdoing during the 1970s and 1980s. Congressman Paul raised concerns about these incidents during a recent Committee hearing.

"During your Humphrey-Hawkins testimony before this Committee last week, Representative Ron Paul raised questions about inappropriate political interference with the Federal Reserve System resulting in hidden transfers of resources to facilitate crimes during the Watergate scandal in the 1970s, and to Iraq for weapons purchases during the 1980s. These are serious allegations and must be fully investigated. I expect that you will do so promptly, and share the results of your investigation with Congress.

Given the continued concern about political interference with the Federal Reserve System and allegations about a lack of transparency, these charges cannot be left unaddressed.

Representative Paul cited reports and stonewalled investigations regarding these charges, and, with this letter, I am asking him to share with you whatever information he has that may facilitate your investigation.

The Federal Reserve's ability to manage monetary policy in an effective manner depends, in large part, on its reputation for independence and integrity. A complete investigation of these charges is necessary to maintain both."

BARNEY FRANK
Chairman

Letter PDF: http://www.house.gov/paul/FedLetter.pdf

SOURCE: http://www.campaignforliberty.com/blog.php?view=33422

[peaceandlove]

Lot's of activity last few days.....

Stop the Federal Reserve From Shredding Its Records

Posted by Matt Holdridge on 03/10/10 11:47 AM

Robert Auerbach, a professor of public affairs at the University of Texas at Austin and author of the book "Deception and Abuse at the Fed" recently wrote an article on the Huffington Post outlining The Federal Open Market Committee at the Fed and their ability to destroy source records.

In the article:

Should the policymaking committee of the most powerful peacetime entity in the United States government be allowed to destroy their source records? The Federal Open Market Committee of the nation's central bank, an intricate part of the United States government may be continuing to destroy its source records, a policy it began in 1995 with an unrecorded vote -no fingerprints - conducted by then Chairman Alan Greenspan.

...The FOMC controls the nation's money supply, targets short term interest rates and since 1962 took it upon themselves to bypass the Congressional appropriations process and loan money to foreign governments. I have described [in Deception and Abuse at the Fed] how the FOMC mislead the Congress in 1962 when they began this activity...

Read the rest here: http://www.huffingtonpost.com/robert..._b_385328.html

SOURCE: http://www.campaignforliberty.com/blog.php?view=33392

[peaceandlove]

Oops missed one...

Senate financial bill appears likely to keep Fed as regulator of big banks

By Brady Dennis
Washington Post Staff Writer
Wednesday, March 10, 2010

Key members of the Senate banking committee are coalescing around legislation that would strip the Federal Reserve of much of its regulatory authority but would leave the central bank with oversight of the nation's largest banks, according to aides familiar with the ongoing negotiations.

Continues: http://www.campaignforliberty.com/wire.php?view=10905

[Barron]

This is such a joke. The Fed needs to not be audited but to be ENDED! Goldman Sachs and the Rothschilds and the other Jewish Banks that own the Fed Reserve should all self-implode! The US dollar is very likekly to lose between 30-50% in next 2 years before collapsing anyway. Just a waiting game now.

[peaceandlove]

Right Barron,

Audit the Fed and then End It is Ron Paul's proposal.

END THE FED by Ron Paul

(And when you finish reading the book it has been suggested you donate it to your local library.)

In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in END THE FED, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

Buy the book: http://www.google.com/products/catal...wAg#ps-sellers

End the Fed Website: http://endthefedusa.ning.com/
Audit the Fed Sign the Petition: http://www.auditthefed.com/



Dodd set to expand Fed powers

Posted by Matt Hawes on 03/15/10

We'll have to see what Dodd unveils later today, but it looks to be exactly what we expected.

Via The New York Times:

The legislation would create a consumer protection agency within the Federal Reserve to write rules governing mortgages, credit cards and other financial products, said the people, who insisted on anonymity because the details were still in flux....

The bill would also reshape the regulatory role of the Fed. It would be entrusted for the first time with oversight of all of the largest and most interconnected financial companies, even if they are not banks....

Read the rest: With Financial Reform Bill, a Test for Congress http://www.nytimes.com/2010/03/15/bu...gulate.html?hp

SOURCE: http://www.campaignforliberty.com/blog.php?view=33549



Dodd's Proposed Wall Street Rules Would Toughen Scrutiny of Banks

By DAMIAN PALETTA
MARCH 15, 2010

WASHINGTON—The political battle over rewriting the rules of Wall Street will intensify Monday when Senate Banking Committee Chairman Christopher Dodd is expected to introduce legislation tougher on financial companies than was expected just a few weeks ago.

The shift follows a push from the Obama administration, which sees a political advantage in pushing legislation taking aim at Wall Street.

Mr. Dodd's bill would allow the Fed to examine any bank holding company with more than $50 billion in assets, and large financial companies that aren't banks could be lassoed into the Fed's supervisory orbit. This came after Treasury officials pushed Mr. Dodd to bring more companies under the Fed's purview.

Continues: http://www.campaignforliberty.com/wire.php?view=10989



Dodd unveils sweeping financial regulation plan

By JIM KUHNHENN, Associated Press Writer – 1 hr 25 mins ago

WASHINGTON – A new Democratic Senate bill to tame the financial markets would give the government new powers to break up firms that threaten the economy, force the industry to pay for its failures and create a consumer watchdog within the Federal Reserve.

Continues (includes video): http://news.yahoo.com/s/ap/20100315/...ncial_overhaul



Ron Paul Interview

Posted by Matt Hawes on 03/15/10 12:06 PM

Congressman Paul will be interviewed on MSNBC's The Ed Show tonight around 6:15 pm eastern regarding Senator Dodd's financial regulation bill.

(I will update as soon as the video is available.)

SOURCE: http://www.campaignforliberty.com/blog.php?view=33544

[peaceandlove]

Fed is Lender of Last Resort to the Politicians

3/15/2010

On Monday, Congressman Paul appeared on MSNBC's The ED Show to discuss Senator Dodd's financial regulatory reform bill and monetary policy.

VIDEO AVAILABLE NOW (5:01): http://www.campaignforliberty.com/blog.php?view=33544




Dodd says Congress must address financial reform

WASHINGTON, March 16 (Reuters) - U.S. Senate Banking Committee Chairman Christopher Dodd said on Tuesday that Congress should not adjourn for its two-week Easter recess on March 26 without addressing financial reform.

Continues: http://www.campaignforliberty.com/wire.php?view=11017



Obama likely to make "activist" picks for Fed vacancies

Posted by Matt Hawes on 03/13/10 02:03 AM

Via the Washington Post:

The potential picks also suggest that the president wants the Fed to do more to restrict actions by banks that could endanger consumers, regardless of what consumer protection responsibilities the Fed ends up with in financial reform legislation now under consideration. The central bank failed to protect consumers from dangerous borrowing practices during the last economic boom, though it has taken more aggressive steps in the past three years....

Read the rest: http://www.washingtonpost.com/wp-dyn...l?hpid=topnews

SOURCE: http://www.campaignforliberty.com/blog.php?view=33489

[peaceandlove]

Easy Money Enables Risky Behavior

Posted by Matt Hawes on 03/17/10

Congressman Paul takes on the Fed during his opening statement at today's House Financial Services Committee hearing on Fed bank supervision and monetary policy.

VIDEO (3:07): http://www.youtube.com/watch?v=EKESSurEhEs


Congressman Paul questions Bernanke on interest rates and the boom-bust cycle.

VIDEO (5:19): http://www.youtube.com/watch?v=BG-tbclZmo0


SOURCE: http://www.campaignforliberty.com/blog.php?view=33655

[peaceandlove]

Some good news as posting at the original PA nears the end.

Blessings to all at the new PA forum.



"Fed loses appeal; must disclose bailout details"

Posted by Andrew Ward on 03/19/10 3:47 PM

Score one for the good guys. Here's the story from MarketWatch:

WASHINGTON (MarketWatch) - The Federal Reserve will be required to identify the names of banks that could have collapsed if not for the central bank's emergency lending, a federal appeals court said Friday. The U.S. Court of Appeals for the Second Circuit in New York ruled on Friday that the Fed needs to disclose documents in response to Freedom of Information Act requests by Bloomberg L.P. and other news organizations. "We are reviewing the decision and considering our options for reconsideration or appeal," said Fed spokeswoman Barbara Hagenbaugh.

Read the post here: http://www.marketwatch.com/story/cou...ils-2010-03-19

SOURCE: http://www.campaignforliberty.com/blog.php?view=33738

[peaceandlove]

Federal Reserve Must Disclose Bank Bailout Records (Update5)

By David Glovin and Bob Van Voris

March 19 (Bloomberg) -- The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest U.S. government bailout ever, a federal appeals court said.

The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after the 2008 collapse of Lehman Brothers Holdings Inc. The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.

EXCERPT:

Senator Bernie Sanders, an Independent from Vermont, said the decision was a "major victory" for U.S. taxpayers.

"This money does not belong to the Federal Reserve," Sanders said in a statement. "It belongs to the American people, and the American people have a right to know where more than $2 trillion of their money has gone."

Continues: http://www.campaignforliberty.com/blog.php?view=33753

[peaceandlove]

The Congressman and the Fed Chairman

Posted by Matt Hawes on 03/25/10

At a House Financial Services hearing on Thursday, Congressman Ron Paul spoke on the recent court ruling requiring Fed transparency and questioned Fed Chairman Ben Bernanke concerning the Fed's balance sheet and price fixing.

VIDEO (8:50): http://www.campaignforliberty.com/blog.php?view=33970

Bernanke with the shaky voice again!

[peaceandlove]

Ron Paul Explains to Keynesian Economics Professor Why Inflation is Bad

From: RonPaul2008dotcom | March 25, 2010
http://www.RonPaul.com - 03/25/2010

At today's House Financial Services Committee hearing Ron Paul asked Laurence Ball, Larry Meyer, Marvin Goodspeed and John Taylor about inflation, the government's role in the value of money, and the Federal Reserve's monetization of debt.

VIDEO (5:08): http://www.youtube.com/user/RonPaul2008dotcom#p/u

[peaceandlove]

More from the Hearing

Posted by Matt Hawes on 03/25/10

Update: In addition to his exchange with Ben Bernanke at Thursday's House Financial Services hearing, Congressman Ron Paul also questioned Laurence Ball, Larry Meyer, Marvin Goodspeed, and John Taylor about inflation, monetizing the debt, and government's role in the value of money.

See second video here that had not been included in Post #211

VIDEO (5:08): http://www.campaignforliberty.com/blog.php?view=33970