H.R. 1207 - Audit The Fed

This is why I'm a fan of Alan Grayson.

He's been pushing this issue pretty hard for a little while now.

However, even if the FR is audited, how many of you trust that what comes out will be 100% factual?
 
The longer this goes on the more and more people will come to the realization that the Federal Reserve has something to hide. 300+ co-sponsors shows when people speak loudly enough they will be listened to, everyone should read Ron Pauls latest book "End the Fed."
 
The longer this goes on the more and more people will come to the realization that the Federal Reserve has something to hide. 300+ co-sponsors shows when people speak loudly enough they will be listened to, everyone should read Ron Pauls latest book "End the Fed."

I still dont believe that the whole truth will be told.

Any audit will come back sugar coated, but then again, any audit is progress
 
The truth is known it's just a matter of time before a majority of us come to an agreement to allow currency's to compete with the dollar. I was surprised when I went to a local wing stop and heard people saying "it was the feds artificial interest rates, poisoning the market!" Maybe, I was in the right place at the right time that day.

The biggest crime isn't that we allowed a central bank, it's that we gave up the idea that we're not capable of understanding simple economic principles.

With all the things facing us, ending the fed is the single greatest step we can take because it ends the cycle of beuarcrats passing off the load to the next administration or generation by getting fresh credit from the fed to fund the Welfare/Warfare state.

I'm proud and honored to be involved in Campaign for Liberty and the Audit the Fed movement with petitions, phone calls, and canvassing. 2010 is a big year for this country it's not about if we elect Republicans or Democrats, it's about electing politicians or representatives!:clap2:
 
For what reason(s)?

You really think leaving the money supply in the control of CONGRESS is a good idea?

No, but that'd be an improvement to the Federal Reserve. But that's also not what this bill does.

No, it really wouldn't. Central bank independence is critical to the maintenance of the economy. Furthermore, that is what this bill would do. If Congress micromanages every aspect of the process, you may as well hand them the keys.
 
You really think leaving the money supply in the control of CONGRESS is a good idea?

No, but that'd be an improvement to the Federal Reserve. But that's also not what this bill does.

No, it really wouldn't. Central bank independence is critical to the maintenance of the economy. Furthermore, that is what this bill would do. If Congress micromanages every aspect of the process, you may as well hand them the keys.

Well not only would it be constitutional, but it would put our monetary system in the hands of those we elect rather than a select group of bankers we have no control over. But the ideal would be to let the market handle the situation. And, once again, Congress won't be micromanaging anything. It allows them to find out what the Fed is doing with our money. It doesn't give them any authority to stop the Fed from doing something or authority to force the Fed to do anything.
 
You really think leaving the money supply in the control of CONGRESS is a good idea?

I cant think of one thing that I've read about this that even implies that is whats going to happen.

If you guys were to get your wish (disbanding the Fed), that's exactly what would happen.

Like Mr. Kennedy pointed out, this would most likely be preffered rather than a group of bankers the American public cant control.

But lets go with this theory for a second.

I would almost bet that that would have one hell of an impact on the American societys awarness of all things political.

As well as a hell of an impact on Congress itself. Ha, I'd love to witness that first Congressional meeting. "Ok guys, we cant fuck this up. We ALL know what happened to the FED." :lol:
 
It should also be pointed out that the Federal Reserve is not independent of politics. The Fed chairman has lowered interest rates before their term was up to create false prosperity so they get re-nominated, and they've done it before big elections to make the President look good. So this vaunted "Fed independence" is simply a myth created by the Fed to keep us from looking at what they're doing with our money.
 
That the public can't control them is a feature, not a bug.

How so?


The Fed was designed to give over control of US currency to the few and the privilrdged. It was a fixed deal from the beginning.

Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it. - Woodrow Wilson
 
That the public can't control them is a feature, not a bug.

I don't necessarily support congress itself controlling the money supply, I'd prefer it be a free market issue.

However, if congress did control the money supply, I can only imagine that accountability on their part would increase, as their job would literally depend on the performance of our purchasing power.

Right now, most people don't understand who's to blame when inflation or deflation happens. If it was on the backs of Congress, there's a specific face to put to the cause, and can simply be adjusted by a matter of the vote.

At the VERY VERY least, we as the people should have the choice of Fed chairman and board governors. This certainly wouldn't satisfy me completely by any means, but it would be nice to have a say.

As of right now, the public virtually has LESS than any say in how our money is regulated. That's a problem of proportions I can't even begin to describe.

You seem like you're scared of a major change that you can't predict the entire outcome of. What's strange about that, is that based on your rhetoric around here, I can only assume you voted for Obama.

If you did, the irony is astounding.
 
Bernanke has been horrible, but Pelosi would be worse. A lot of legislators became lawyers because other career paths were closed off in the 4th grade when they struggled to multiply fractions or complete long division problems successfully. These people should have as much say about Interest Rate policy as Ben B. does about Afghan troop levels.
 
Bernanke has been horrible, but Pelosi would be worse. A lot of legislators became lawyers because other career paths were closed off in the 4th grade when they struggled to multiply fractions or complete long division problems successfully. These people should have as much say about Interest Rate policy as Ben B. does about Afghan troop levels.

Truth is Pelosi is at the will of the people and if enough citizens have already forced their reps to co - sponsor this bill. I'm sure they can keep their congress in check, the economy needs to be left to the market, regulations lifted, and we're back on track.

This idea that the Fed wields some magic power is dead, they've devalued our currency to the point of bankruptcy. Anyone who still believe the Fed needs to the exist are the same people who haven't ripped off their Obama/Biden stickers.
 

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