Senate Sabotages Ron Paul's Bill to Audit the Fed

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machinehead's picture
machinehead
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Senate Sabotages Ron Paul's Bill to Audit the Fed

A Huffpo article says that the Senate version of Ron Paul's bill to audit the Fed is being watered down into meaninglessness. Here are the key paragraphs --

Legislation to give Congress greater oversight of the Federal Reserve was severely watered down on the Senate floor Wednesday in private negotiations between two powerful Republican senators. On the Senate floor, Grassley named the top Republican on the banking committee, Richard Shelby of Alabama, as the man pouring the water.

"Although I would have preferred to include all of the Fed's emergency actions under 13(3), in consultation with Senator Shelby I agreed to limit my amendment to actions aimed at specific companies," said Grassley.

"This modified version of the amendment does not give GAO authority to look at all of that additional taxpayer risk. It is much narrower than the one I originally filed, but it is a reasonable step in the right direction, and it does not threaten monetary policy independence."

http://www.huffingtonpost.com/2009/05/08/handwritten-notes-show-fe_n_200...

The Huffpo article doesn't include a byline, so there's no way to assess the credibility of the author. But the writer's claims are in line with historical evidence that any real reform of U.S. government invariably gets derailed.

Senator Shelby can be seen on TV when Ben Bernanke testifies before the Senate committee which oversees the Fed. Senator Shelby also is interviewed frequently on CNBC. In both of these venues, he comes across as fiscally conservative and well informed.

The disturbing implication of this article is that he's playing a double agent role -- claiming to be overseeing the Fed, while actually carrying water on its behalf to block transparency and public oversight.

I hope it's not true. But after 95 years of Federal Reserve secrecy, it seems unlikely that the veil is suddenly going to be lifted on this government-sponsored counterfeiting cartel. Shine a light into its dark recesses, and the feasting cockroaches all would have to scurry away.

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investorzzo
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

HR 1207. So much for the Democrates majority.

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DrKrbyLuv
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

machinehead - I've never had much regard for HR 1207.  Even if the bill is passed as presented (with no editing); I hold little hope that it would be completed in a timely or accurate manner.

The "services" provided by the private Federal Reserve are unconstitutional, unsound and usurious.  No other grounds are needed beyond these fundamental transgressions against "We the People."  The Fed must be fired and abolished.  Yes, let's have an audit, but it should be within the framework of a criminal investigation after the Fed is issued a pink slip.

"We the People" hereby serve notice, the Fed's usury, contrived and continuous inflation,
market manipulation and intervention "services"
are no longer desired or required...

The Federal Reserve must be Fired!

 

Larry

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LogansRun
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed
DrKrbyLuv wrote:

machinehead - I've never had much regard for HR 1207.  Even if the bill is passed as presented (with no editing); I hold little hope that it would be completed in a timely or accurate manner.

The "services" provided by the private Federal Reserve are unconstitutional, unsound and usurious.  No other grounds are needed beyond these fundamental transgressions against "We the People."  The Fed must be fired and abolished.  Yes, let's have an audit, but it should be within the framework of a criminal investigation after the Fed is issued a pink slip.

"We the People" hereby serve notice, the Fed's usury, contrived and continuous inflation,
market manipulation and intervention "services"
are no longer desired or required...

The Federal Reserve must be Fired!

 

Larry

Larry,

You've got it~!  Bottom line is that the FED is unconstitutional!  No more needs be said!

 

End the FED!

cannotaffordit's picture
cannotaffordit
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

 Sometimes it feels good to be right.  This time, it doesn't.  I predicted in a comment a week or so ago that either this bill wold never make it to the floor for a vote, of if it did it would be so watered down that it would accomplish nothing of value for us. It was an easy call.  Those folks in D.C. are never going to bite the hand that feeds them the really big food.

Until the FED is abolished, nothing will change!  And, I suppose the chances of that happening, with the elected ones we have up there now, are about 1 to a trillion, or less.

Seanj360's picture
Seanj360
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

Amen Larry,

Great signature!

Seanj360's picture
Seanj360
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

Amen Larry,

Great signature!

Morpheus's picture
Morpheus
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed
Ben A wrote:

 Sometimes it feels good to be right.  This time, it doesn't.  I predicted in a comment a week or so ago that either this bill wold never make it to the floor for a vote, of if it did it would be so watered down that it would accomplish nothing of value for us. It was an easy call.  Those folks in D.C. are never going to bite the hand that feeds them the really big food.

Until the FED is abolished, nothing will change!  And, I suppose the chances of that happening, with the elected ones we have up there now, are about 1 to a trillion, or less.

 

So what are our options Ben? Continue to willfully allow ourselves to be subjugated? 

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LogansRun
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Re: Senate Sabotages Ron Paul's Bill to Audit the Fed

Pete,

Your avatar creeps me out

hahaha

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