Ron Paul has introduced legislation to require the Federal Reserve to “open their books” to Congress…
H.R.1207 Federal Reserve Transparency Act of 2009
To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
OpenCongress – U.S. Congress – H.R.1207 Federal Reserve Transparency Act of 2009.
Congressman Paul mentions the Fed is mostly responsible for $9,300,000,000.00 dollars which most of has gone into the caufers of the bankers. Bloomberg has it now at $12.8 Trillion on a GDP of $14.2 Trillion…
March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.
New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.
Financial Rescue Nears GDP as Pledges Top $12.8 Trillion (Update1) – Bloomberg.com.
You may ask how that can be? I don’t remember all of that… That is because as Ron Paul pointed out… The FED currently answers to “NO one”… not even “The One”…
A former Federal Reserve Chairman Alan Greenspan openly states that The FED Reports not to Congress and Not to The President…
Listen closely to his choice of words…
“First of all, the Federal Reserve is an Independent Agency“…”There is NO other agency of government that can overrule actions that we take”…”so long as that is in place“…”no evidence“…”that Congress is requesting“…“what the relationships are don’t frankly matter”
TO BE CLEAR… this changes IF Congress Rules that it changes… so as odd as it appears… The Fed is accountable to No One unless Congress changes the law and requires the Fed to Report to Congress… But Congress does not want to change the law?
This is seen in action by Bernanke’s response to Senator Berni Sanders…
This really should be a no brainer… Take action by calling your Representative: 1-877-851-6437 (toll free) 1-202-225-3121 (toll call)
Do this and witness Liberty Restored… Tyranny Defeated … Poverty Abolished … and The United States of America returned to being a Republic.
“This is a Giant Leap of a First Step” in destroying the shackles of the Big Banks on government…
And the best part… No Need to Wait until 2010…
Track the progress of “H.R. 1207: Federal Reserve Transparency Act of 2009” here at GovTrack.us (as of writing there are over 160 Cosponsors and growing)!
Related posts:
- Ron Paul has 112 Co-Sponsors HR 1207 “The Federal Reserve Transparency Act”
- Chairman Ron Paul: We Need a Full and Complete Audit of the Federal Reserve!
- Bring Some Accountability to the Federal Reserve: The Grayson Letter
- Congressman Ron Paul H.R.1207 Update June 12, 2009
- The Federal Reserve Funds Terrorist’s State Bank of Libya
End the Fed – Google News
