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Audit the Fed

post #1 of 5
Thread Starter 

Ron Paul's "Audit the Fed" bill - H.R. 459 - has overwhelmingly passed the House. The mainstream media is burying the story, but it is one of the most significant political developments in decades.

 

Take special note of the reps who voted against it. They do not deserve another term in office.

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply
post #2 of 5

It would be interesting to know how much private and public money is in the fed.

post #3 of 5

It's probably time to just kill the Fed entirely, and move the currency valuation to a commodity-backed index (e.g. gold).  A Fed with congressional oversight probably can't do anything productive, which is not to say that I disagree with the bill -- today's Fed has abused its position and needs oversight, just that a hamstrung Fed can do only harm and is a waste of resources to maintain.

Cat: the other white meat
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Cat: the other white meat
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post #4 of 5

It's a good thing.  Unfortunately it's likely doomed in the Senate. 

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #5 of 5
Thread Starter 

Romney supports audit of the Federal Reserve

 

 

Quote:
Borrowing Rep. Ron Paul's presidential campaign push, Mitt Romney said Monday he thinks the Federal Reserve should face an audit.
 
"Very plain and simple, the answer is yes. The Federal Reserve should be accountable. We should see what they're doing," Mr. Romney, the presumptive Republican presidential nominee, said at a town hall in New Hampshire.
 
Mr. Paul, the Texas congressman who is still technically in the running for the Republican nomination, though he does not have the delegates to win it at next week's convention, made an audit of the Fed a chief part of his campaign.
 
Earlier this year, the House passed Mr. Paul's bill to grant the Government Accountability Office the power to conduct such a broad audit, though Senate Democrats have shown no inclination to bring that bill to the floor.
 
Still, the issue has gained political currency after the Wall Street collapse and after a previous more limited GAO audit found the Fed had used extraordinary powers during in the aftermath of the financial mess.
 
On Monday, at the town hall, someone asked, "Isn't it time to audit the Federal Reserve?" and Mr. Romney didn't hesitate.
 
Mr. Romney said he doesn't want Congress to meddle too much in the business of the Federal Reserve, which is the agency the government set up to manage the country's monetary policy. But he said it should be audited as part of a push to know more about the connections between the government and wealthy campaign contributors.
 
The GOP's platform committee begins meeting later Monday, and Mr. Paul is seeking to have a Fed audit included as an official position of the party. Gov. Bob McDonnell, the platform committee's chairman, told The Washington Times last month that he supported accountability at the Fed, and said the committee was looking at a number of Mr. Paul's ideas.

 

I wish I could believe Romney.

 

Based on his record and blatant attempts to be everything to everyone and say what he thinks his audience wants to hear even if it conflicts with prior things he’s said, I just can’t trust him.

 

I think it's mostly hot air - an attempt to appeal to libertarians and independents.

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply
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