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audit the fed gutted(dead) says paul

Discussion in 'Freedom and Liberty' started by Tango3, Oct 31, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says Share Business ExchangeTwitterFacebook| Email | Print | A A A

    By BOB Ivry

    Oct. 30 (Bloomberg) -- Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.
    The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.
    “There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
    The Fed, led by Chairman Ben S. Bernanke, has come under greater congressional scrutiny while attempting to end the financial crisis by bailing out financial firms and more than doubling its balance sheet to $2.16 trillion in the past year. The central bank is also buying $1.25 trillion of securities tied to home loans.
    Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.
    Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.
    Original Language

  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    And once the banks have all the property -wait. Once the banks own all currencies in the world -wait.

    I guess they are just waiting for all the pieces to fall into place. Collapse is coming, it's certain. Soon.
  3. Al Bundy

    Al Bundy Monkey++

    That's a crying shame. I was hoping that would go through.
  4. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Yeah, I was watching that with a sick feeling in my stomach. On one hand we have the tiny possibility that it will, and then the FED gets called to account. Big scandal ensues. Monetary system then collapses, as expected. On the other hand, we have a whitewash...which is what just happened.

    Darned if you do -darned if you don't.
  5. Seawolf1090

    Seawolf1090 Adventure Riding Monkey Founding Member

    Criminals protect their own..... [stirpot]
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