By Randy Rose:
The “Audit the Fed” bill number HR459 passed in the House of Representatives by a landslide of 327 to 98.
Harry Reid, our re-elected Senator Majority leader, will not let it be voted on in the Senate. See Nevada, what fools you were for voting for Harry Reid when he refuses to even prepare a budget for over 4 years now.
Congressmen Ron Paul took time to comment on the passage of his bill. “We should have privacy for the individual, but we should have openness of government all the time. We’ve drifted a long way from that. I think when people talk about independence and having this privacy of the central bank, it means they want secrecy.”
The Democrats say that the bill will cause the Fed to encounter political interference. Dr. Ron Paul believes there should be transparency of the government and the fed, unlike the current Administration that talks about transparency but they never practice it. “This bill would jeopardize the Fed’s independence by subjecting its decisions on interest rates and monetary policy to GAO audit,” said House Minority Whip Steny Hoyer (D-MD). “I agree with Chairman Bernanke that congressional review of the Fed’s monetary policy decisions would be a ‘nightmare scenario,’ especially judging by the track record of this Congress when it comes to governing effectively.” All smoke and mirrors here folks.
Congressman Ron Paul released this press release : Congressman Ron Paul today applauded the passage by the House of Representatives of H.R. 459, the Federal Reserve Transparency Act. The bill, which calls for a full audit of the Federal Reserve System– including its lending facilities and critical monetary policy operations– passed overwhelmingly by a bipartisan vote of 327-98.
“I am very pleased that the House passed my Audit the Fed legislation today,” Congressman Paul stated. “It has been a long, hard fight, but Congress finally is getting serious about exercising its oversight responsibility over the Federal Reserve. Auditing the Fed is a common sense issue supported by the overwhelming majority of the American people. The Fed’s trillions of dollars worth of asset purchases and its ongoing support of foreign central banks cannot be allowed to continue without Congressional oversight. Today’s passage of H.R. 459 is a good first step towards full Fed transparency, and I hope that the Senate will consider the bill before the end of the year.” We must elect Republicans this year especially Chris Edwards www.edwards4congress in Congressional District 1 and Danny Tarkanian www.dannytarkanian.com in CD 4 and Dean Heller.