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Old 03-04-2009, 09:47 PM   #1
peaceandlove
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Talking HR 1207 UPDATES "The Federal Reserve Transparency Act"

READ ALL ABOUT IT
AuditThe Fed!

Dr. Paul's statement on HR 1207

Posted by Matt Hawes on 03/04/09
Last updated 03/04/09

FEDERAL RESERVE TRANSPARENCY ACT HR 1207
Capitol Switchboard: 202-224-3121

Source: http://www.campaignforliberty.com/bl...ew=12517&cpg=1

Momentum continues to build for Dr. Paul's legislation to audit the Federal Reserve! The title is "The Federal Reserve Transparency Act," and the bill currently has 11 cosponsors:

- Rep. Neil Abercrombie [HI-1]
- Rep. Michele Bachmann [MN-6]
- Rep. Roscoe G. Bartlett [MD-6]
- Rep. Paul Broun [GA-10]
- Rep. Dan Burton [IN-5]
- Rep. Walter Jones, Jr. [NC-3]
- Rep. Steve Kagen [WI-8]
- Rep. Ted Poe [TX-2]
- Rep. Bill Posey [FL-15]
- Rep. Denny Rehberg [MT]
- Rep. Lynn Woolsey [CA-6]

Here's Dr. Paul's statement introducing the bill:

Quote:
Madam Speaker, I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% 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.

Serious discussion of proposals to oversee the Federal Reserve is long overdue. I have been a longtime proponent of more effective oversight and auditing of the Fed, but I was far from the first Congressman to advocate these types of proposals. Esteemed former members of the Banking Committee such as Chairmen Wright Patman and Henry B. Gonzales were outspoken critics of the Fed and its lack of transparency.

Since its inception, the Federal Reserve has always operated in the shadows, without sufficient scrutiny or oversight of its operations. While the conventional excuse is that this is intended to reduce the Fed's susceptibility to political pressures, the reality is that the Fed acts as a foil for the government. Whenever you question the Fed about the strength of the dollar, they will refer you to the Treasury, and vice versa. The Federal Reserve has, on the one hand, many of the privileges of government agencies, while retaining benefits of private organizations, such as being insulated from Freedom of Information Act requests.

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? Particularly when hundreds of billions of dollars of currency swaps have been announced and implemented, the Fed's negotiations with the European Central Bank, the Bank of International Settlements, and other institutions should face increased scrutiny, most especially because of their significant effect on foreign policy. If the State Department were able to do this, it would be characterized as a rogue agency and brought to heel, and if a private individual did this he might face prosecution under the Logan Act, yet the Fed avoids both fates.

More importantly, the Fed's funding facilities and its agreements with the Treasury should be reviewed. The Treasury's supplementary financing accounts that fund Fed facilities allow the Treasury to funnel money to Wall Street without GAO or Congressional oversight. Additional funding facilities, such as the Primary Dealer Credit Facility and the Term Securities Lending Facility, allow the Fed to keep financial asset prices artificially inflated and subsidize poorly performing financial firms.

The Federal Reserve Transparency Act would eliminate restrictions on GAO audits of the Federal Reserve and open Fed operations to enhanced scrutiny. We hear officials constantly lauding the benefits of transparency and especially bemoaning the opacity of the Fed, its monetary policy, and its funding facilities. By opening all Fed operations to a GAO audit and calling for such an audit to be completed by the end of 2010, the Federal Reserve Transparency Act would achieve much-needed transparency of the Federal Reserve. I urge my colleagues to support this bill.

Last edited by peaceandlove; 08-04-2009 at 08:18 AM.
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Old 03-04-2009, 09:49 PM   #2
peaceandlove
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Default Bernanke Dodges Transparency Again

Bernanke Dodges Transparency Again

Posted 3/4/2009

Senator Bernie Sanders (Vermont) of the Senate Budget Committee pleas with Bernanke for names of the banks that received part of the $2.2 trillion dollars taken from the American people.

Video (2:37): http://www.campaignforliberty.com/bl...ew=12504&cpg=1

Last edited by peaceandlove; 03-04-2009 at 11:02 PM.
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Old 03-04-2009, 09:53 PM   #3
peaceandlove
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Default Introduced February 26th HR 1207

Audit the Fed!!

FEDERAL RESERVE TRANSPARENCY ACT HR 1207
Capitol Switchboard: 202-224-3121

Find your Congress members here: http://www.congressmerge.com/onlinedb/index.htm.

Sample letters can be found at: http://www.campaignforliberty.com also check the comments section at the Source address below.

Posted by Matt Hawes on 03/02/09
Last updated 03/02/09

Source: http://www.campaignforliberty.com/bl...ew=12341&cpg=1

As Dr. Paul and others discussed at CPAC, Campaign for Liberty is committed to getting H.R. 1207, a bill to audit the Federal Reserve System, passed in this Congress.

Since its creation in 1913, the Fed's control of money and credit in this country has resulted in a 95% devaluation of our dollar and the piling up, just in the last year, of almost $10 trillion in bailouts and loans.

The Fed has so far resisted attempts to provide information on how it is spending the bailout money and currently dictates how accountable it will be to Congress.

Introduced last Thursday, H.R. 1207 already has bipartisan support with 11 cosponsors from all across the country. In contrast to the massive "stimulus" package, Dr. Paul's bill can be read in less than five minutes.

Our new Audit the Fed flier was hugely popular last week at CPAC, and we are confident that the current economic crisis has created interest in many who had previously been closed to such an idea. We've now added it to our "Fliers" section so you can print them out and spread the word!

With your help, we will get this bill through the Financial Services Committee, the House and Senate, and to the president's desk. And we will be there to hold the politicians accountable for how they vote.

It's long past time for the Fed's books to be opened. We can make it happen, and we can do it this year.

Last edited by peaceandlove; 03-04-2009 at 09:56 PM.
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Old 03-05-2009, 07:08 AM   #4
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Default Re: Bernanke Dodges Transparency Again

Quote:
Originally Posted by peaceandlove View Post
Bernanke Dodges Transparency Again

Posted 3/4/2009

Senator Bernie Sanders (Vermont) of the Senate Budget Committee pleas with Bernanke for names of the banks that received part of the $2.2 trillion dollars taken from the American people.

Video (2:37): http://www.campaignforliberty.com/bl...ew=12504&cpg=1
I'm glad that Bernie's trying to find the truth here.

And I agree. I am curious about the political parties of the folks who co-sponsored there. There needs to be a call for transparency from both sides.
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Old 03-05-2009, 11:42 AM   #5
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Quote:
Originally Posted by Kathleen View Post
I have contacted Tami Baldwin, congress person for my area.

This is NOT a right/left issue. This is a constitutional issue.
Yes, but it would make more sense if members of both parties supported it and it might just have a chance of passing.

I'm not holding my breath now. With the way the economy is going, I don't see government taking the time to listen to what they may consider to be quaint proposals.

No offense, but I'm a bit of a realist here.
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Old 03-05-2009, 12:08 PM   #6
peaceandlove
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Default Bernanke Says U.S. May Need to Expand Bank Rescue

Help, BAILOUT MANIA Gone Wild!

Bernanke Says U.S. May Need to Expand Bank Rescue

By Craig Torres and Scott Lanman

“But our economy and financial markets face extraordinary challenges,”
and doing less now would eventually prove to be more costly, he said.

March 3 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said policy makers may need to expand aid to the banking system beyond the $700 billion already approved and take other aggressive measures even at the cost of soaring fiscal deficits.

“Without a reasonable degree of financial stability, a sustainable recovery will not occur,” the Fed chairman said today in testimony prepared for the Senate Budget Committee. “Although progress has been made on the financial front since last fall, more needs to be done.”

Bernanke’s comments suggest he sees a role for bigger federal outlays as the Obama administration seeks congressional approval for a budget of $3.55 trillion for the fiscal year beginning in October. President Barack Obama has already signed into a law a $787 billion economic stimulus package of tax cuts and government spending.

CORRECTED Article continues: http://www.bloomberg.com/apps/news?p...efer=worldwide

Last edited by peaceandlove; 03-05-2009 at 12:14 PM.
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Old 03-05-2009, 08:47 PM   #7
peaceandlove
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Thumbs down Fed Refuses to Release Bank Data, Insists on Secrecy

Fed Refuses to Release Bank Data, Insists on Secrecy

By Mark Pittman and Craig Torres

Banks oppose any release of information because that might signal weakness and spur short-selling or a run by depositors, the Fed argued in its response.

Complete article: http://www.campaignforliberty.com/wire.php?view=3188
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Old 03-05-2009, 10:01 PM   #8
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

As this illusion crumbles away, this fleck might need a flick to expose a deeper evil. So I sense a treacherous lingering afoot. Their game is shielded in all directions, so if it falls it will be planned. Never will they risk exposure for what they are. Sacrifices will be made so to strengthen the agenda.

If Dr. Paul wins this one, it just might be the downfall of the fed.

So when the beast is exposed, people might be ****** that there was a beast and it has razor sharp claws.

So they might dress up the beast like a school girl and have her go take a time out.

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Old 03-05-2009, 11:56 PM   #9
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Default The Fed's Iron Shroud of Secrecy

The Fed's Iron Shroud of Secrecy

Posted by Anthony Gregory on 03/05/09 1:52 PM

In response to a Bloomberg News lawsuit (See Post #8), "The Fed [has] refused. . . to disclose the names of the borrowers and the loans, alleging that it would cast 'a stigma' on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral."

For too long, the Fed has enjoyed the monopoly privileges that only big government can provide while demanding private sector levels secrecy and independence from government inquiry -- and then some. What a timely occasion for Ron Paul's Audit the Fed bill (See Post #3).

Source: http://www.campaignforliberty.com/bl...ew=12616&cpg=1
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Old 03-12-2009, 10:59 PM   #10
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Default UPDATE: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

The Federal Reserve Transparency Act, Congressman Paul's bill to audit the Fed, is now up to 28 co-sponsors!

Source: http://www.campaignforliberty.com/bl...cpg=1#comments Many interesting comments at bottom of page.

Rep Abercrombie, Neil [HI-1]
Rep Alexander, Rodney [LA-5]
Rep Bachmann, Michele [MN-6]
Rep Bartlett, Roscoe G. [MD-6]
Rep Broun, Paul C. [GA-10]
Rep Burton, Dan [IN-5]
Rep Chaffetz, Jason [UT-3]
Rep DeFazio, Peter A. [OR-4]
Rep Duncan, John J., Jr. [TN-2]
Rep Foxx, Virginia [NC-5]
Rep Garrett, Scott [NJ-5]
Rep Grayson, Alan [FL-8]
Rep Heller, Dean [NV-2]
Rep Jones, Walter B., Jr. [NC-3]
Rep Kagen, Steve [WI-8]
Rep Kingston, Jack [GA-1]
Rep Marchant, Kenny [TX-24]
Rep McClintock, Tom [CA-4]
Rep Petri, Thomas E. [WI-6]
Rep Poe, Ted [TX-2]
Rep Posey, Bill [FL-15]
Rep Price, Tom [GA-6]
Rep Rehberg, Denny [MT]
Rep Rohrabacher, Dana [CA-46]
Rep Stearns, Cliff [FL-6]
Rep Taylor, Gene [MS-4]
Rep Woolsey, Lynn C. [CA-6]
Rep Young, Don [AK]

If you don't see your rep on this list, contact him/her today and urge them to support the bill! Contact information: http://www.congress.org/congressorg/dbq/officials/

Last edited by peaceandlove; 03-22-2009 at 02:09 AM.
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Old 03-22-2009, 02:09 AM   #11
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Default Ron Paulís bill to audit the Federal Reserve now has 33 co-sponsors

Ron Paulís bill to audit the Federal Reserve now has 33 co-sponsors

RonPaul.com | Mar. 19, 2009

Ron Paulís bill to audit the Federal Reserve continues to gain momentum. H.R. 1207 now has 33 co-sponsors (as of 3/19/2009)!

If you too would like to see Ben Bernanke squirm and finally discover what the Fed has been up to behind the scenes, call and write your representative and ask that they support the ďFederal Reserve Transparency Act H.R. 1207″.


Capitol Switchboard: (202) 224-3121

Hereís a sample letter you can use:


Dear Representative,

Please co-sponsor and/or support H.R.1207, an effort to audit the Federal Reserve.

Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.

Currently there are 33 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.

Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.

Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.

Sincerely,

Auditing the Fed is only the first step towards exposing this antiquated insider-run creature to the powerful forces of free-market competition. Once there are viable alternatives to the monopolistic fiat dollar, the Federal Reserve will have to become honest and transparent if it wants to remain in business.

Source: http://truthalliance.net/Archive/tab...osponsors.aspx
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Old 03-22-2009, 03:14 AM   #12
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Thanks for this - and thanks for the specific help in determining who to call (the capital switchboard) . I wish we had the same kind of help in notifying our senators for the organic farming bill.
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Old 03-23-2009, 04:44 AM   #13
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Quote:
Originally Posted by alyscat View Post
Thanks for this - and thanks for the specific help in determining who to call (the capital switchboard) . I wish we had the same kind of help in notifying our senators for the organic farming bill.
alys
Your welcome alys.

Here's some more good news!

HR 1207 Co-sponsorship Skyrockets: Companion Bill in Senate

Source: http://www.campaignforliberty.com/

Ron Paul's "Federal Reserve Transparency Act" to audit the Federal Reserve is now up to 39 co-sponsors the House, and an identical companion bill, S604 http://thomas.loc.gov/cgi-bin/query/z?c111:S.604:, has been introduced in the Senate.

Here are the House co-sponsors:

Young (R-AK), McClintock (R-CA), Woolsey (D-CA), Rohrabacher (R-CA), Castle (R-DE), Stearns (R-FL), Grayson (D-FL), Buchanan (R-FL), Posey (R-FL), Kingston (R-GA), Price (R-GA), Broun (R-GA), Abercrombie (D-HI), Burton (R-IN), Fleming (R-LA), Alexander (R-LA), Bartlett (R-MD), McCotter (R-MI), Bachmann (R-MN), Peterson (D-MN), Akin (R-MO), Taylor (D-MS), Rehberg (R-MT), Jones (R-NC), Foxx (R-NC), Garrett (R-NJ), Heller (R-NV), DeFazio (D-OR), Platts (R-PA), Duncan (R-TN), Wamp (R-TN), Blackburn (R-TN), Poe (R-TX), Paul (R-TX), Marchant (R-TX), Burgess (R-TX), Chaffetz (R-UT), Petri (R-WI), Kagen (D-WI), Lummis (R-WY)

32 Republicans and 7 Democrats so far.



Urge your Representative to co-sponsor:
Petition: http://www.campaignforliberty.com/ca...uditthefed.php

Tell your Congressman to co-sponsor Ron Paul's
Audit the Fed bill. Sign the petition:

Submit the information below to sign the petition and join the Campaign For Liberty. Copies will be sent to your Representative in Congress:

See same link: http://www.campaignforliberty.com/ca...uditthefed.php

These people deserve a thank you and applause

Last edited by peaceandlove; 03-23-2009 at 08:51 AM.
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Old 06-26-2009, 05:00 PM   #14
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Default Re: The Fed's Iron Shroud of Secrecy

Quote:
Originally Posted by peaceandlove View Post
The Fed's Iron Shroud of Secrecy

Posted by Anthony Gregory on 03/05/09 1:52 PM

In response to a Bloomberg News lawsuit (See Post #8), "The Fed [has] refused. . . to disclose the names of the borrowers and the loans, alleging that it would cast 'a stigma' on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral."

For too long, the Fed has enjoyed the monopoly privileges that only big government can provide while demanding private sector levels secrecy and independence from government inquiry -- and then some. What a timely occasion for Ron Paul's Audit the Fed bill (See Post #3).

Source: http://www.campaignforliberty.com/bl...ew=12616&cpg=1
I won't hold it against them....Will you guys?
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Old 06-28-2009, 06:48 PM   #15
peaceandlove
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

He He Stargazer

Ron Paul talks with U.S. News and World Report

Posted by Andrew Ward on 06/26/09 12:11 PM

On Wednesday, Matthew Bandyk sat down with Congressman Ron Paul to talk about the Federal Reserve's role in fostering the financial crisis.

Exclusive Conversation With Ron Paul: The Future Of The Federal Reserve

President Obama's financial regulatory plan has created controversy over the role of the Federal Reserve in our economy like rarely before. The person in Congress with perhaps the most unconventional point of view on these issues in American politics is Congressman and former presidential candidate Ron Paul (R-TX), a longtime critic of the very institution of the Fed and fractional reserve banking. He has recently sponsored a bill that would audit the Fed, which has attracted co-sponsors such as Dennis Kucinich (D-OH).

Read the rest here. http://www.usnews.com/blogs/capital-...l-reserve.html

SOURCE: http://www.campaignforliberty.com/blog.php?view=20722



I just ran across this interview again earlier today and it continues to ring true. It's such a great 5 minutes.

Ron Paul on Coast to Coast

"I'm a very strong self-critic and I always look at my flaws." Ron Paul

Video (5:23):
Comment from youtube viewer Drg0nzo1:

Ron Paul is just too honest and blunt for Americans. We are a very sensitive bunch of people in all actuality. We tend to dislike people, and even feel insulted when they point out problems with our country. Especially if our "party" is currently holding office.

The truth isn't always a fun thing to hear, but i would rather hear the devastating truth of our current situation than a bunch of feel good BS.

Last edited by peaceandlove; 07-05-2009 at 03:34 PM.
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Old 06-29-2009, 01:54 AM   #16
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Bernanke Threatens if Fed is Audited

Posted by CJLKAS on 06/28/09 04:33 AM

At a recent House Oversight Committee Meeting, Fed Chairman Ben Bernanke threatened destruction of the dollar and the US economy if the Fed was audited. Notice how he calls it a "takeover" of monetary policy by Congress if HR 1207 were to pass. Someone needs to school Mr. Bernanke that, under the Constitution, monetary policy belongs to the Congress - not the Fed.

VIDEO (2:13):
SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=20822

Last edited by peaceandlove; 06-29-2009 at 02:54 AM.
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Old 06-29-2009, 02:42 AM   #17
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Quote:
Originally Posted by peaceandlove View Post
Bernanke Threatens if Fed is Audited

Posted by CJLKAS on 06/28/09 04:33 AM

At a recent House Oversight Committee Meeting, Fed Chairman Ben Bernanke threatened destruction of the dollar and the US economy if the Fed was audited. Notice how he calls it a "takeover" of monetary policy by Congress if HR 1207 were to pass. Someone needs to school Mr. Bernanke that, under the Constitution, monetary policy belongs to the Congress - not the Fed.

VIDEO (2:13): YouTube - Bernanke warns that meddling with Fed's monetary policy cause harm economy

SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=20822
We must not cave in to this ****.
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Old 06-30-2009, 05:17 PM   #18
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Ron Paul, Dr. Popular

Posted by Andrew Ward on 06/30/09 09:46 AM

Fox News' Judson Berger covers Ron Paul's successful efforts to gain bipartisan Congressional support for HR 1207, The Federal Reserve Transparency Act of 2009.

Mr. Popular? Ron Paul Wins Supporters to Fed Sunshine Bill

All of a sudden, Congress is paying close attention to Ron Paul.

Quote:
The feisty congressman from Texas, whose insurgent "Ron Paul Revolution" presidential campaign rankled Republican leaders last year, now has the GOP House leadership on his side -- backing a measure that generated paltry support when he first introduced it 26 years ago.

Paul, as of Tuesday, has won 245 Co-sponsors to a bill that would require a full-fledged audit of the Federal Reserve by the end of 2010.
Read the rest here: http://www.foxnews.com/politics/2009...-fed-sunshine/

SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=20945



Audit the Fed and C4L: Gathering Steam
Posted by Andrew Ward on 06/29/09

CQ Politics' Emily Cadel covers Ron Paul and Campaign for Liberty's efforts to promote a legitimate audit of the Federal Reserve.

Ron Paul's 'Audit the Fed' Bill Gathers Steam

Quote:
At the heart of Paul's anti-Fed crusade, as well as his other ventures, is the grass-roots lobbying organization Campaign for Liberty, a home base for his fervent band of presidential supporters. The organization was launched just over a year ago with cash left over from his bid for the GOP nomination. The 501(c)4 non-profit group claims a quarter-million members and says it has 20 full-time employees and coordinators in all 50 states.
Read the rest here: http://www.cqpolitics.com/wmspage.cf...s-000003155957

SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=20872

Last edited by peaceandlove; 07-05-2009 at 03:35 PM.
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Old 07-05-2009, 02:38 PM   #19
peaceandlove
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

"Ron Paul Strikes Gold"

Posted by Matt Hawes on 07/03/09 11:32 AM

Reuters reprints an article from The Big Money's Chadwick Matlin about Dr. Paul's leadership of an historic bipartisan effort to bring transparency to the Federal Reserve:

Quote:
Thus we come to the audit. For Paul it's a foot in the door to a much larger goal. To the 244 co-sponsors-74 of them Democrats-it's a way to show their constituents that they're worried, too, about where taxpayer dollars are going. It's an amusing dissonance between the leader of the rebellion and his revolutionaries. The two parties are after entirely separate goals, one (transparency) vastly more achievable than the other (the end of the Federal Reserve).

This again makes Paul's coalition all the more remarkable. The distrust of the Fed has reached a point at which a majority of House members are following a radical into battle. Congress' frustration was evident last month when Bernanke got roasted in front of Congress, putting his future as Fed chairman and the health of Obama's regulatory plan in doubt....SEE POST #86 THIS PAGE (also posted by Northern Santuary under Economy and Currency)
Read the rest: (Thanks to Nancy) http://www.reuters.com/article/bigMo...90701920090702

SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=21145

Last edited by peaceandlove; 07-07-2009 at 05:18 AM.
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Old 07-07-2009, 09:41 AM   #20
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Breaking News on Audit the Fed!

Posted by Matt Hawes on 07/06/09 7:46 PM

Today, our battle to pass Audit the Fed through the U.S. Senate has been joined. The first shot was fired on the floor of the Senate tonight by Senator Jim DeMint of South Carolina.



Senator DeMint has a well-deserved reputation for taking the battle to the other side in the Senate, and tonight he once again proved why he is such a valuable ally in our fight to bring transparency and accountability to the Federal Reserve.

Occasionally, a chance comes along to take quick action on a bill, and Senator DeMint took just such an opportunity.

VIDEO (8:49) and ARTICLE continues: http://www.campaignforliberty.com/blog.php?view=21326



"U.S. Lurching Towards 'Debt Explosion'"

Posted by Matt Hawes on 07/06/09 11:19 AM

The U.K.'s Telegraph, using a study by a former Fed official, examines how U.S. interest rates may soon double (at least):

In a 2003 paper, Thomas Laubach, the US Federal Reserve's senior economist, calculated the impact on long-term interest rates of rising fiscal deficits and soaring national debt. Applying his assumptions to the recent spike in the US fiscal deficit and national debt, long-term interests rates will double from their current 3.5pc....

Read the rest. http://www.telegraph.co.uk/finance/f...to-double.html

And don't forget that today is End the Fed's "Melt the Switchboard" day for S 604! Visit http://endthefedusa.ning.com/events/...elt-the-senate for more information.

SOURCE and COMMENTS: http://www.campaignforliberty.com/bl...cpg=1#comments

Last edited by peaceandlove; 07-07-2009 at 09:44 AM.
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Old 03-23-2009, 04:56 AM   #21
orthodoxymoron
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

It's about time! Why not audit Fort Knox gold? Or...how about an audit of all Deep Underground Military Bases? That would really be digging up dirt! Go Ron Paul!

Should the Sherman Antitrust Act be applied to the Fed?

Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. ß 1–7) was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law.

The Act provides: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".[2] The Act also provides: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony [. . . ]"[3] The Act put responsibility upon government attorneys and district courts to pursue and investigate trusts, companies and organizations suspected of violating the Act. The Clayton Act (1914) extended the right to sue under the antitrust laws to "any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws."[4] Under the Clayton Act, private parties may sue in U.S. district court and should they prevail, they may be awarded treble damages and the cost of suit, including reasonable attorney's fees. [5]

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Old 03-24-2009, 01:20 AM   #22
Humble Janitor
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

Sheesh, only 7 Democrats?

Was not surprised to see a large amount of Republicans. Bachmann's a hatemonger though. Not surprised that she'd support it either.
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Old 03-24-2009, 05:50 PM   #23
peaceandlove
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Default Update on HR 1207

Update on HR 1207

In his latest video, Dr. Paul gives an update on HR 1207, the Federal Reserve Transparency Act, which would thoroughly audit the Federal Reserve System.

Video (3:56): http://www.campaignforliberty.com/blog.php?view=14126
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Old 03-26-2009, 05:45 AM   #24
peaceandlove
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Default 44th Co-Sponsor for 'Audit the Fed'

Three More Co-Sponsors Today!

Posted by Jesse Benton on 03/24/09 3:43 PM

Good news - Reps. Nathan Deal (GA), Trent Franks (AZ) and Pete Sessions (TX) all joined H.R. 1207 yesterday. Cosponsors now stand at 42.

All three are respected and have seniority. Rep. Sessions, as head of the NRCC, is in particular a power player.

Comments at source: http://www.campaignforliberty.com/blog.php?view=14147


HAVEN'T HEARD WHO THE 43rd CO-SPONSOR IS YET!
Just found the 43rd co-sponsor: Rep. Miller, Jeff (FL-1) - 3/24/2009


44th Co-Sponsor for 'Audit the Fed' (that number sounds familiar )

Former Republican Whip Roy Blunt (MO) signed on yesterday. The momentum continues!

Comments at source: http://www.campaignforliberty.com/bl...cpg=1#comments

Last edited by peaceandlove; 03-26-2009 at 06:06 AM.
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Old 04-02-2009, 03:56 AM   #25
peaceandlove
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Default Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act"

It is now up to 50 co-sponsors!
Co-Sponsors: http://thomas.loc.gov/cgi-bin/bdquer...1:HR01207:@@@N


Alameda County GOP Supports HR 1207

Posted by Matt Hawes on 03/31/09 2:43 PM

As you may recall, back last summer we did a few posts on the Alameda County, California GOP, as several Ron Paul supporters had won election to the Central Committee but were sued in an attempt to prevent them from taking their seats (under the claim that they hadn't been Republicans long enough.) Despite the challenges, they went on to defend themselves successfully and take their places on the Central Committee.

Now, the Alameda County GOP has passed a resolution in support of HR 1207, and they have been working hard to get other organizations to do the same. They also lobbied Democrat Representative Pete Stark, who is now a cosponsor. Keep up the good work, guys!

The text of their resolution is as follows:

Here: http://www.campaignforliberty.com/bl...cpg=1#comments
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