October 25, 2013
Kentucky Republican Rand Paul is threatening to derail the appointment of Keynesian economist Janet Yellen as boss of the Federal Reserve unless he gets a vote on transparency legislation over the bankster non-government agency.
“One of my first actions in the U.S. Senate was to introduce legislation allowing for a full audit of the Federal Reserve,” Paul writes on his website. “This legislation, S. 202 The Federal Reserve Transparency Act of 2011, is a Senate version of similar legislation long-championed by and introduced this session in the House of Representatives by my father, Congressman Ron Paul of Texas.”
“We must take a critical look at the Fed’s monetary policy decisions, discount window operations, and a host of other things, with a real audit – and not just pay lip-service to the idea of an audit.”
The move is similar to Rand Paul’s effort to impose a procedural hold on the nomination of John Brennan to oversee the CIA back in February. Paul held up the vote in order to get answers about the snoop agency’s drone program. Paul engaged in a historic filibuster to hold up Brennan’s nomination.
Establishment Democrats in the Senate will likely move to sideline Paul’s effort to waylay “Helicopter” Ben Bernanke’s successor. It now looks like Senate Majority Leader Harry Reid, a Nevada Democrat, has the 60 votes required to push Yellen’s nomination through Congress.
Democrats say they don’t believe Rand Paul has enough support to hold up the nomination. “I don’t know enough yet to know whether his request for a vote will be taken seriously, but I kind of doubt it,” a Senate Democratic aide told Business Insider on Friday.