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US House to debate Ron Paul’s ‘Audit the Fed’ bill
- Text size
STEPHEN C. WEBSTER
Raw Story
June 11, 2009
After months of activism and lobbying by Congressman Ron Paul’s supporters, House Resolution 1207, the Federal Reserve Transparency Act, will move out of committee to be debated by the full House of Representatives.
In a show of cross-party unity, Ohio Democratic Congressman Dennis Kucinich became the bill’s 218th co-sponsor, pushing it over the threshold for debate in Congress.
The bill, which achieved co-sponsorship by 222 members of the House on Thursday, has been in consideration by the House Financial Services Committee since Feb. 26.
Congressman Kucinich, along with Rep. Edolphus Towns (D-NY), announced Tuesday that the House Financial Services Committee will subpoena the Federal Reserve to ascertain the details of the Fed’s agreements with Bank of America in the institution’s acquisition of Merrill Lynch.
“The full committee and Domestic Policy Subcommittee, under the leadership of Chairman Dennis Kucinich (D-OH), have been investigating the circumstances surrounding the federal government’s bailout of the Bank of America-Merrill Lynch transaction,” Kucinich’s office noted in a Tuesday release. “Specific documents subpoenaed include emails, notes of conversations and other documents.”
- A d v e r t i s e m e n t
“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul in a Thursday media advisory. “I look forward to this issue receiving greater public exposure.”
Though the move from committee to full House is sure to hearten supporters, the Senate also has pending before it a bill which would have originally given Congress greater oversight of the Federal Reserve. But in its present form, notes Huffington Post writer Ryan Grim, a recent, every-so-slight modification essentially ‘neutered’ the bill.
“Thanks to an overlooked document posted on the website of Sen. Charles Grassley of Iowa, the top ranking Republican on the Finance Committee, voters can virtually watch the water being dumped into the brew that Grassley had hoped to force the Fed to drink,” he wrote.
“On page five of Grassley’s amendment, he intends to give the Comptroller General of the Government Accountability Office power to audit “any action taken by the Board under…the third undesignated paragraph of section 13 of the Federal Reserve Act” — which would be almost everything that it has done on an emergency basis to address the financial crisis, encompassing its massive expansion of opaque buying and lending.”
Grim adds: “Handwritten into the margins, however, is the amendment that watered it down: ‘with respect to a single and specific partnership or corporation.’ With that qualification, the Senate severely limited the scope of the oversight.”
Congressman Paul, in defense of his proposal to audit the bank which controls America’s currency, argues not just for transparency. He wants to close it down.
“Detractors have [...] argued that the Fed must remain immune from the political process, and that that more congressional oversight would distort their very important decisions,” Paul wrote in an editorial titled, ‘Audit the Fed, Then End It!’ “On the contrary, the Federal Reserve is already heavily entrenched in the political process, as the Fed chairman is a political appointee. High-level officials routinely make the rounds between positions at the Fed, member banks, Treasury and back again, taking care of friends and each other along the way.”
He continued: “As far as the foolishness of placing complex monetary policy decisions in the hands of politicians – I couldn’t agree more. No politician or central banker, no matter how brilliant, is smart enough to know more than the market itself. The failure of central economic planning has been witnessed over and over. It is frankly beyond me why we ever agreed to try it again.
“To understand how unwise it is to have the Federal Reserve, one must first understand the magnitude of the privileges they have. They have been given the power to create money, by the trillions, and to give it to their friends, under any terms they wish, with little or no meaningful oversight or accountability. Thus the loudest arguments against greater transparency are likely to come from those friends, and understandably so.”
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June 12th, 2009 at 12:36 am
I was wondering why Kucinich had not signed on before now.I
2cents Reply:
June 12th, 2009 at 8:18 am
Does anyone else think it’s BS that the only thing on this site is banner ads and AJ asking for money? What happened to the NEWS? Yesterday the WHO raised the pandemic level to 6, this is the first pandemic in 41 years. They can now legally take away freedoms and instate martial law. Nothing on here about any of this? What’s next, AJ selling banner ads to the govt? Half this site is ads, there’s AJ hats, tshirts, DVD’s and everything else. Now he needs massive donations all in one day? AJ sold out man….
CJ in Roanoke Reply:
June 12th, 2009 at 9:15 am
If you are so upset about it, why put yourself through the aggravation of visiting this site.
USAFVet Reply:
June 12th, 2009 at 10:50 am
You’re joking right? He has only done this once before and said that he would do it again a year later. He asks for money once in a year and you consider that a sellout? Take your ignorant, childish, attitude elsewhere. You are simply here to divide those who know the truth. If you are truly interested in truth, then quit harping on small things like “raising money” to fund his operations, and acting as if this is a major deal. He will have sold out when you hear him touting the same spin stories we see in the mainstream media. That is what a sellout is. I don’t think we ever need to fear that happening.
DarthDoobious Reply:
June 12th, 2009 at 11:09 am
Shill!!! Go back to your spook hole you COINTELPRO hack!!!
cccp Reply:
June 12th, 2009 at 11:54 am
2cents is glorious nwo disinformatoin officer of the peoples liberation forces!
DVDmaster Reply:
June 12th, 2009 at 8:41 am
Well I’ll tell you one thing, now we know all the people who signed on, So we can now easily weed out the politician who didn’t. Because the didn’t signed the bill, you’ll obviously conclude these politicians who didn’t are to spineless to serve your best interests, Or these politician are simple just scumbags who are on the payroll of some bankers bought and paid for list.
If we really want to shake the system up a little more, identify these scumbags and get them kick out of there offices.
Because either way, there working for somebody, or their just to spineless to stand up for you.
Good Ron Paul, God bless you, a true american HERO
fake_ear Reply:
June 12th, 2009 at 11:34 am
Alex Jones is now doing commercials for enrolled agents sof the IRS. Sad. Very sad. Alex wants you to “get right” with the IRS. Better do it quick because if the bill to audit the Fed gets through its only a matter of time that the Federal Reserve will be dismantled along with its collection agency the IRS. So hurry, folks, and pay up. Alex will help you by providing advertisement for this IRS company composed of enrolled agents of the IRS.
Theywontchipme Reply:
June 12th, 2009 at 12:26 pm
R U JOKING?? ok just let the irs take your house and everything you own then??? HAHAHAHA nice try
seanwluger Reply:
June 12th, 2009 at 1:13 pm
Senate Version S 604 Has Got 1 Co Sponsor.Senator Jim Demint Of South Carolina.He’s Real Conservative.He’s Been Rated 100% By American Conservative Union.Start Calling Your Senator By Make Sure Bill Does Not Get Water Down.Also Call Senator Demint Thank You.We Can Do It.Just Do It.
mikey Reply:
June 12th, 2009 at 1:28 pm
Here’s an important question:
Should we still call our Senators to support (cosign) Senate parent bill to HR 1207, the bill S 604?
Is this the bill that is watered down? Should we wait until another one is redrawn that has the balls to neuter the Fed? (like that?
Keep fighting fellow freedom fighters, I think the end is inevitable.
June 12th, 2009 at 12:40 am
I think he was waiting to be the tie breaking vote. N o matter what happens now we are going to be heard.Go Ron Paul END THE FED!!!
YBS Reply:
June 12th, 2009 at 8:09 am
I agree, yesfan, being the House Financial Services Committtee Chairman, that was probably congressional etiquette on his part to wait until he could cast the deciding vote. It may or may not have been against any actual rules they may have, but it seems like this move would be proper form on his part.
Points out dumb asses Reply:
June 12th, 2009 at 11:05 am
Someone explain this to me: If the fed goes away will they even really matter if the NAU moves to the Amero as its currency anyways? Hope someone can answer that for me. Thanks!
Rush2112 Reply:
June 12th, 2009 at 11:26 am
I knew Kucinich would come through. Probably wanted to keep Dr. Paul in suspense, ‘cos he didn’t co-sponser the Cheney and Bush Impeachment measures Dennis introduced.
AGuy Reply:
June 12th, 2009 at 12:02 pm
i hate to say it…
but if we do END THE FED, then what will be the new currency?
We will not use the old Federal Reserve Bills….
HELLO ONE WORLD CURRENCY!
Duh… Wake up people.
Theywontchipme Reply:
June 12th, 2009 at 12:27 pm
Return to silver backed currency like JFK tried in 63′. Look on top United states Note
http://images.google.com/imgre.....N%26um%3D1
June 12th, 2009 at 12:41 am
“the Fed must remain immune from the political process, and that that more congressional oversight would distort their very important decisions”
Shouldn’t that in itself be enought to make people start thinking?
Help me out... Reply:
June 12th, 2009 at 8:06 am
Can somebody pls explain to me the relationship between the Treasury Department and the Federal Reserve Bank?
I feel like I know, for my self, how it works.
But when I try to expalin to other people the process I end up questioning my communication skills.
Thank you
June 12th, 2009 at 12:43 am
I think no matter what comes of 1207, from this point on things are going to really escalate. Especially with all the “truthers” are Al-CIA-Duh being spun from all corners in the media.
nader paul kucinich gravel Reply:
June 12th, 2009 at 1:33 am
Truthers & Liars:
Federal Reserve
AIPAC
911
Bill Cooper lied about Krlll space Aliens Reply:
June 12th, 2009 at 1:46 am
your assignment tonite infowarriors
flood matt drudges newstips inbox with links to this raw story article
do it do it!
josh Reply:
June 12th, 2009 at 9:40 am
you should post a link or email for newstips to drudge… ppl like me are lazy
Theywontchipme Reply:
June 12th, 2009 at 12:30 pm
drudge@drudgereport.com
June 12th, 2009 at 12:54 am
God bless Ron Paul and the others who sign this. May the truth finally come out.
June 12th, 2009 at 12:56 am
I know off subject………….
Found this video from a military member affirming defending the
Constitution.
Kick ass message and good music.
I have e-mailed the link far and wide………….
http://revolutionarypolitics.com/?p=1143
A Patriot is a militiaman who readies himself everyday in “Quiet Fury”!
VNV
josh Reply:
June 12th, 2009 at 9:41 am
VNV… hehe cool, the fire of liberty is burning in many people… and when tyranny comes it burns faster and brighter.
June 12th, 2009 at 1:00 am
You think that these f—— are just going let this happen, haha dream on. If you had the power to print money out of thin air, would you give it up? This is where it is going to get ugly,, Buckel up and get ready for a fight!!! Because its coming!!
MAD DOG Reply:
June 12th, 2009 at 6:12 am
THEY WILL CRASH TH ECONOMY FIRST.
Theywontchipme Reply:
June 12th, 2009 at 12:31 pm
They will start fucking world wars!!! This is serious! Now is the time to kick into overdrive!!
Free Today Reply:
June 12th, 2009 at 6:43 am
Stop waiting for your government to protect you from your government !
To stay free we must stand as individuals.
Googe: Continental Congress 2009
You will find Americans who are not just talking and waiting anymore, tens of thousands of them, and if we don’t become in the millions, we will be tens of thousands of martyrs.
Vickie C Reply:
June 12th, 2009 at 8:07 am
I do believe in our power to make this happen. We are already wearing them down.
our forces are growing bigger everyday. Have faith in us
Zane Reply:
June 12th, 2009 at 1:24 pm
Exactly. This probably will not get passed as a bill. They have already started the smear campaign against Ron Paul trying to connect him with Von Brunn. This is about, as cagold sayst, “to get ugly”.
June 12th, 2009 at 1:02 am
I am so proud of Mr. Paul and overjoyed to see that we could count on Kucinich. This is pretty momentous.
June 12th, 2009 at 1:14 am
Good Job Ron Paul time has come for the Bankers to drink the poison we have been given.
June 12th, 2009 at 1:32 am
Great Job Ron Paul, this is most definatly a step in the right direction!
God speed.
June 12th, 2009 at 1:35 am
Though the enemy is vast and time is short, the Leo will fight at our side.
June 12th, 2009 at 1:46 am
flood Matt Drudge’s inbox with links to this Raw Story article!
Theywontchipme Reply:
June 12th, 2009 at 12:32 pm
drudge@drudgereport.com post a link if you are intent on accomplishing that
June 12th, 2009 at 1:47 am
This is a time to celebrate, but also a time to consider what their next move will be. We can almost see how they are going to spin and confuse the Federal Reserve issue to the average person. It will be our job to explain to our family and friends what is happening. I’ve come to the conclusion it will always be this way. Who else are we expecting to save us?
We all have our part to play. I attend a John Birch Society booth during the local street fairs to inform people interested about politics. I want more people aware of the issues affecting all of us. We all have to get away from our computers and face people on the street if anything is ever going to change for humanity’s sake. DVDs are the bullets in the Infowar.
Yeah cagold…I’ve no doubt a fight is coming…can we safely say the Revolution has just begun? I don’t believe anyone is dreaming at this point. The last dream I had was on 9-11 as I walked through the dust and eventually with all the folks walking away from downtown Manhattan. I remember hoping I was only having a dream…it never was.
Glenn Beck…you are a traitor for grouping 911 truthers with wanting to incite violence. Keith Olbermann…you also want to smear Ron Paul with this ‘von Brunn smear-by-association’ reporting? Listen folks…do you still believe we have friends in Main Stream Media?
All I can say is keep doing what you are doing and keep waking people up…you have the power and the truth will set you free! Maybe this all get to end like the Wizard of Oz…(Sorry…only a dream)
MAD DOG Reply:
June 12th, 2009 at 6:13 am
JOE BANISTER NEEDS TO BE CALLED IN TO TESTIFY TO CONGRESS
June 12th, 2009 at 1:54 am
Does this mean we can now ignore Alex Jones’ commercials about getting right with the IRS since all the IRS is is a collection agency for the Federal Reserve?
fake_ear Reply:
June 12th, 2009 at 1:56 am
I certainly hope it does. I’m tired of those dumb commercials by Alex Jones. Why is he so intent on getting us into the IRS system? I don’t get it. Is it some form of “taking us for fools” or what?
EPIC FAIL!!! Reply:
June 12th, 2009 at 2:31 am
Ha ha ha! This so funny. If you are going to reply to your own sockpuppet comment, at least remember to change your name!
St. Michael Reply:
June 12th, 2009 at 2:51 am
Dis-info Asshole Agent
soulofliberty Reply:
June 12th, 2009 at 10:44 am
Anyone who actually listens to Alex Jones knows he explains the IRS as a mafia organization who you pay off to stay out of jail.
Running Ads to help people reduce the amount of money they have to pay to these criminals is a good thing. Good for the show. Good for the sponsor. Good for the customer.
I would agree this is dis-information, especially when he responds to his own comment. I’m surprised these TRAITORS aren’t trained better.
fake_ear Reply:
June 12th, 2009 at 11:37 am
I wasn’t replying. I was adding to my statement. Duh. Alex sure has some dumb people following him. No one seems to mquestion this IRS commercial he does. Shows me how stupid his followers are.
NotAFakePatriot Reply:
June 12th, 2009 at 5:39 am
LMFAO!! Dude that’s the funniest shit I’ve seen in a long time. Screenshot!
Theywontchipme Reply:
June 12th, 2009 at 12:34 pm
ROFLMAO!!!!!!!!!!!!!!!!!!!!!!!!!
Thanks for the laugh fake ear
fake_ear Reply:
June 12th, 2009 at 1:12 pm
I didn’t reply to my statement. I added to my statement. Duh. Get a clue.
fake_ear Reply:
June 12th, 2009 at 1:44 pm
i didn’t “reply” to my comment, I added to it. Think man.
Subliminal_Cowboy Reply:
June 12th, 2009 at 12:34 pm
Haha, what a dumbass.
Dave Reply:
June 12th, 2009 at 6:27 am
Probably not yet, no
Ant S Reply:
June 12th, 2009 at 8:45 am
Since he has said he chooses his fights ..this is your opportunity to choose yours. Stop paying them and make them your fight …That is what I am doing..Become on of the 40 million! END THE FED!
June 12th, 2009 at 1:56 am
-Any closer to the truth and operation “Black-Jack” will commence.
St. Michael Reply:
June 12th, 2009 at 2:44 am
Mmmm you know, you could be right… I was in another thread and some one was being a new age asshole and typed this: “All is precisely on schedule, the countdown is almost complete, and Heaven on Earth will very soon be yours.”
Scary? Yeah. How to deal with it? Be prepared at a moments notice for EVERY eventuality. Google ‘Operation Blackjack’ or check it out on youtube. Nothing may come of it and we all hope it doesn’t but you lose absolutely nothing being prepared and taking every precaution you can.
Lessgov2007.blogspot.com Reply:
June 12th, 2009 at 4:31 am
Holy crap, I hadn’t seen or heard about this. When was this published? I haven’t seen a date in the original post?
http://www.telegraph.co.uk/cul.....kjack.html
Why would a mainstream news source publish something like this, even declaring it fictional? That stuff scary stuff because the only thing separating that from reality are the nuclear explosions. Has Alex Jones covered this?
Lessgov2007.blogspot.com Reply:
June 12th, 2009 at 4:45 am
A British citizen can hardly speak his mind in public right now, but a mainstream news organization can print something like that? That’s really crazy stuff. At least it ends good though, the military figures out the North American Union are the bad guys and it looks as if it kicks off a new American Revolution to take our country back.
Lessgov2007.blogspot.com Reply:
June 12th, 2009 at 4:54 am
Never mind, I found an infowars piece on this. I still am blown away you cannot drop an apple on the ground in London but you can publish something like that? lol It does end good though.
June 12th, 2009 at 3:16 am
Things are going to get very interesting. Don’t let the senate water this down!
http://Www.theaustrianswereright.com
June 12th, 2009 at 3:37 am
Here are the Hand Written Notes on the Senate Bill. The Story is from the Huffington Post
http://www.huffingtonpost.com/.....00515.html
June 12th, 2009 at 4:02 am
Prause God; whateer the outcome…good to see supporters from both sides of the floor.
June 12th, 2009 at 4:46 am
This site should get a better shout box, as all these disappearing comments is really irritating
June 12th, 2009 at 7:37 am
THIS IS IT
This is the big moment…and it is happening and nothing and NOONE CAN STOP IT. Even LUCIFER HIMSELF!
Something big is happening… somthing GOOD and POSITIVE is going to take place in less than few months. I FEEL HAPPY …WOW
June 12th, 2009 at 7:42 am
Зачет, сенкс автору
June 12th, 2009 at 7:47 am
I knew Kucinich was waiting to be 218. Makes the News story have a like extra power behind it. Pauls bill, Kucinich the deciding co-sponsor. Being both republican and democrat will help sway the sheeple as well since they think labels make a difference.
June 12th, 2009 at 7:52 am
Happiness…………………..The power of the people is coming through
June 12th, 2009 at 8:33 am
Twist tome arms if need be….
This is the achilles heel of the new world order.
Auditing the fed means al ot of these thieves will go to jail, and probably the end of the fed.
June 12th, 2009 at 8:39 am
In typical Orwellian doublespeak fashion, if they’re pressured to pass such a bill it’ll be rewritten to actually make the Fed immune from all future scrutiny. But since the name of the bill will be “make the Fed transparent”, all the politicians will be able to tell the people they voted for “making the Fed more transparent”. PR problem solved….
June 12th, 2009 at 8:58 am
THEY SHOULD KICK ALL THOSE THIEVES OUT OF THEIR,JAIL THEM,AND SET UP HOUSING FOR THE POOR,THE BUILDING ITSELF WOULD HOUSE APPROX 7,500 PEOPLE,PER FIRE CODE. (NEW YORKS FED BUILDING).PERSONALLY I WOULD LIKE TO SEE A PUBLIC HANGING WHEN ALL THIS FRAUD IS FOUND OUT.LEGALLY THAT WOULD BE TREASON,SO IT WOULD BE OK.
June 12th, 2009 at 9:53 am
this is a huge victory for the people because all of our faxes and phone calls made this happen. big props to Dr. Paul for writing the bill and making it simple and to the point. if your rep. signed on to support this bill, don’t forget to give them a ring and say thanks because they are so used to hearing negative things that this may make them see Ron Paul supporters for the great people and patriots that we are. when i get time, i’m gonna try my best to place a thank you fax or call to the reps who supported this bill and it would be great if others did the same. we need to take this country back with a true message of hope, positivity and peace.
June 12th, 2009 at 10:36 am
Audit the FED. Follow the money! then shut it down and put the Banksters in Jail for Treason!
June 12th, 2009 at 10:43 am
i’m all for ron paul but surely you all can’t be so naive to think that our congress has all of a sudden become non corrupt. nothing will ever come of this. it will die in the senate if it makes it that far. i hope i’m wrong but i seriously doubt it.
soulofliberty Reply:
June 12th, 2009 at 10:52 am
MISSING THE POINT. Never before has this issue been pushed into the mainstream. Some serious spin will come with it, but that’s why were here to fight the bull shit and spread the truth. This is an information war, and were escalating it with awareness, so we must be prepared to deal with the retaliation from the FED (with all the congressman and lobbyists they own).
June 12th, 2009 at 11:28 am
LADIES AND GENTLEMEN,
This will be our defining moment in history. We cannot allow this institution to survive another day for the sake of our children and grandchildren. It is up to us, God Willing to eliminate this machine once and for all. For the sake of our children we must stand united in this process. We had our days of fat and glory, now it is time to pay once again for the price of the freedoms that this generation let slip through the cracks. This is bigger than the amensty bills or any other piece of shit legislation that congress is trying to shove through, let us begin the march on Washington July 4th to regain our independence from this demonic sect. For God Will have His Glory!
We are heading for a financial collapse no matter what we do, is it not in our childrens best interest to upsurp this machine once and for all? Godspeed to all patriots. Let us be the One Nation under God, that brings the world together in true peace, where we turn our weapons back into plowshares, where we break bread with our so called enemy.
June 12th, 2009 at 11:29 am
What is there to debate? Either Audit the Criminal, run-for-profit Fed, or not.
We are going to find out who the traitors are in the very near future. Pelosi is not going to let this out, she will be very busy brow-beating her little minions into submission.
The Federal Reserve will likely withstand this minor onslaught, however, the traitors who vote it down will be sticking out like red thumbs and will have nowhere to hide from their treason.
June 12th, 2009 at 12:13 pm
Sadly I think this audit could backfire, & we might be given something worse than the Fed ever was. Can you say used as an excuse to join in a global currency.
June 12th, 2009 at 12:24 pm
I hear alot about ending the fed, but nothing about what institution we will replace it with. Auditing the fed seems abit akin to releasing torture memos and photos. If i was a nwo i would want the fed to fail so i could step in and pick up the pieces. Not trying to be antagonistic but was just wondering what piece or pieces of information i may be missing to make this seem a good idea. The debt we acrued will not dissapear by ending the fed, it will just justify our debt holders to make things square by other means. Unfortunately the way i see it is that the fed is the only thing standing between us and a seven nation army. But i could be wrong, its happened before.
June 12th, 2009 at 12:32 pm
Isn’t it funny ? no informations on cnn or fox about the hr1207, it just shows how all the media is controlled by the same people who control the fed.
Fox rather repots about a german teenage boy who was nearly hit by some space meteorit in size of an bean. Cnn thinks Amanda Knox this psycho girl from italy needs another top line. bombing the people with useless infos !!!!!!
June 12th, 2009 at 12:50 pm
Just came across this great song………
http://www.youtube.com/watch?v=8bSpqiuM6vQ
June 12th, 2009 at 1:13 pm
I think ron paul is the only honest politician in washington. I worry for his safety. Now that he is going after the FED, watch out. Dr. Paul, Please be careful, you are truly a hero. Thank you.
June 12th, 2009 at 1:25 pm
Senate Version S 604 Has Got 1 Co Sponsor.Senator Jim Demint Of South Carolina.Please Start Calling Your Senator, So That The Bill Doesn’t Get Water Down Too Much.Also Call Senator Demint Say Thank You.He’s Real Conservative.He’s One Of Us.
June 12th, 2009 at 2:25 pm
Thank God for Ron Paul.
However, who is going to be the uncorrupt party to do the massive task of auditing, for it to not become just another whitewash commission?
And who shall audit the auditors?
June 12th, 2009 at 3:18 pm
Arm-up, and spread-out.
You have just enough time to prepare- for the pooh, to hit the shoo.
Cities are death-traps, with limited escape.
Prepare to bug-out on God’s command.
June 12th, 2009 at 7:28 pm
HERE: Stream and Download ALL the best interviews and rants from the Alex Jones Show Archives:
http://alex-jones-archives.politicsfiles.info/
TODAY:
- Cindy Sheehan:How The Left Used Me To Gain House Seats
- Lew Rockwell:Obama’s Puppet Masters Have Been Busy
- Dr. Walter Williams:The Rule of Law & Economics 101
- Alex Jones Calls Glenn Beck Out!!
Backup your favorite episodes, don’t miss any!