Dr Paul to Introduce Legislation to Audit the Federal Reserve!

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DrKrbyLuv's picture
DrKrbyLuv
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Posts: 1995
Dr Paul to Introduce Legislation to Audit the Federal Reserve!

Dr Paul to Introduce Legislation to Audit the Federal Reserve

Good news indeed - could the audit lead to an investigation under the ominous RICO laws? The private Federal Reserve cabal holds a monopoly to issue our currency and to secretly (behind closed doors) control our monetary policy - no wonder we're bankrupt!

Any nation that outsources its most important financial power and responsibility to private banks relinquishes its sovereignty; effectively becoming a client state. A blatant conflict of interests exists; they are choosing who is saved first - the people or the banks. They are THE bankers that are being saved and not surprisingly, we're paying the bill.

It's encouraging to finally see someone step forward to try and end the madness.

The Federal Reserve controls the flow of money and credit in our economy because Congress has abdicated its responsibility over the nation's currency. This process therefore occurs centrally, and almost completely outside the system of checks and balances. Because of legal tender laws, people are left with no real choice, except to build their lives and futures around this monopoly currency, vulnerable to powerful central bankers. The Founding Fathers intended only gold and silver to be used as currency, however, inch by inch over the decades, this country has backed away from this important restraint. Our money today has no link whatsoever to gold or silver. For many reasons, this is extremely dangerous, and has a lot to do with the boom and bust cycles that have resulted in the crisis in which we find ourselves today.

The Fed is now pledging to reveal to the public more about its economic predictions, and calls this greater transparency. This is little more than window-dressing, at best, utterly useless at worst. Many analysts, especially those familiar with the Austrian school of economics, saw the current economic crisis coming years ago when the Federal Reserve was still telling the American people their policies were as good as gold. So while it might be nice to know what fantasy-infused outlook the Fed has on the economy, I am much more interested in what they are doing as a result of their faulty, haphazard interpretation of data. For instance, what arrangements do they have with other foreign central banks? What the Fed does on that front could very well affect or undermine foreign policy, or even contribute to starting a war.

We also need to know the source and destination of funds provided through the Fed's emergency funding facilities. Information such as this will provide a more accurate and complete picture of the true cost of these endless bailouts and spending packages, and could very likely affect the decisions being made in Congress. But with so much of the Fed's business cloaked in secrecy, these latest initiatives will not even scratch the surface of the Fed's opaque operations. People are demanding answers and explanations for our economic malaise, and we should settle for nothing less than the whole truth on monetary policy.

The first step is to pass legislation I will soon introduce requiring an audit of the Federal Reserve so we can at least get an accurate picture of what is happening with our money. If this audit reveals what I suspect, and Congress has finally had enough, they can also pass my legislation to abolish the Federal Reserve and put control of the economy's lifeblood, the currency, back where it Constitutionally belongs. If Congress refuses to do these two things, the very least they could do is repeal legal tender laws and allow people to choose a different currency in which to operate. If the Fed refuses to open its books to an audit, and Congress refuses to demand this, the people should not be subject to the whims of this secretive and incompetent organization.

Dr. Ron Paul

Mike Pilat's picture
Mike Pilat
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Re: Dr Paul to Introduce Legislation to Audit the Federal ...

Thank you, Kirby.

Here is just a another friendly reminder that April 25th, 2009 is going to be another nationwide End The FED rally / protest.

This is a nationwide event! Bring friends, battle the banksters!

See here: http://endthefed.us/organize.php#Anchor-Local-49575

Because they need us more than we need them.

Gadfly's picture
Gadfly
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Re: Dr Paul to Introduce Legislation to Audit the Federal ...

This going to be met with a lot of opposition, isn't it?  Why is it that Dr. Paul is the only man in Congress that seems coherent?

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mred
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Re: Dr Paul to Introduce Legislation to Audit the Federal ...

Note that this could potentially backfire. The Fed may very well have carried out all of its actions within the legal statutes defined by Congress since the Federal Reserve Act of 1913 and the gazillion changes to it since, not to mention the massive bailout texts that no congressperson read yet approved. The problem is, of course, not the legality, but the mere existence and nature of the Fed. An audit could potentially come out clean. Talk about something that the propagandists could milk...

DrKrbyLuv's picture
DrKrbyLuv
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Re: Dr Paul to Introduce Legislation to Audit the Federal ...

Mike Pilat

Here is just a another friendly reminder that April 25th, 2009 is going to be another nationwide End The FED rally / protest. This is a nationwide event! Bring friends, battle the banksters! See here: http://endthefed.us/organize.php#Anchor-... 

Thanks Mike for reminding us all that actions are underway to eliminate the Fed.  I participated in the November rally against the Fed and hope others will join us in April.

Picture of me at the November Protest against the Fed!

If you are interested in attending, you might want to visit the link supplied by Mike to find a local meet-up group.  The "Ron Paul" and "We Are Change" local Meet-Up Groups were instrumental in organizing the November event.

I would like to see local "Crash Course" Meet-Up groups become active for the April event.  If anyone is interested in helping to put such a group together, please feel free to contact me - I will be attending either the Pittsburgh or the Washington DC protest - depending on the response.

Gadfly

This going to be met with a lot of opposition, isn't it?  Why is it
that Dr. Paul is the only man in Congress that seems coherent? 

You raise a good question...why are there no other voices being heard?  My personal opinion is that other representatives will begin coming forward as soon as the movement starts to take root.  This thing will snow ball when politicians begin getting the cover they need to stand up to the fed.

mred

Note that this could potentially backfire. The Fed may very well have
carried out all of its actions within the legal statutes defined by
Congress since the Federal Reserve Act of 1913 and the gazillion
changes to it since, not to mention the massive bailout texts that no
congressperson read yet approved. The problem is, of course, not the
legality, but the mere existence and nature of the Fed. An audit could
potentially come out clean. Talk about something that the propagandists
could milk..

You are as skeptical as me!  I too am suspicious of anything going on at the fed - such is the world we live in.  But I don't see how they can survive an audit of their money market functions, reserves on deposits and the "discount window."  The GAO has never been able to audit these and many other activities of the Fed.

If nothing else, it would be very interesting to see where our money is going.  You may remember that Bloomberg filed a "Freedom of Information" suit against the Fed to determine where approximately $2 Trillion dollars went - the Fed has refused to co-operate.

Larry

mpelchat's picture
mpelchat
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Re: Dr Paul to Introduce Legislation to Audit the Federal ...
mred wrote:

Note that this could potentially backfire. The Fed may very well have carried out all of its actions within the legal statutes defined by Congress since the Federal Reserve Act of 1913 and the gazillion changes to it since, not to mention the massive bailout texts that no congressperson read yet approved. The problem is, of course, not the legality, but the mere existence and nature of the Fed. An audit could potentially come out clean. Talk about something that the propagandists could milk...

 

I agree with you and this may be totally true, however it will put clarity on where our money went and how much.  Now we no clue and with knowledge we can make positive change.

mstillman's picture
mstillman
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Joined: Feb 9 2009
Posts: 2
Re: Dr Paul to Introduce Legislation to Audit the Federal ...

Dennis Kucinich on the other side of the aisle is definitely against the Fed and speaks about debt free money.

 I am largely not a fan of Ron Paul but he is pointed in the right direction on monetary policy certainly.

 best to you all.

m

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