It’s exciting to hear that HR 1207, a bill which will allow Congress to audit the activities of the Federal Reserve bank, is only 11 co-sponsors away from reaching a majority in the House! My friend Greg sent me an email, and I was freaking out. I was so happy.
I’ve heard several commentators say that if HR 1207 is passed, there’s a good chance it will lead to a complete shutdown of the Federal Reserve! They’ll see that the Fed’s books are so “whacked out”, that they may well shut them down. If that happens the banker cartel goes down! No more printing up money and banks lending thin air. No more insane inflation. No more stealing of savings accounts, and inflation rising faster than wages!
I can’t think of anything that would make me more happy than to see an end to that.
If you guys don’t know how the Fed operates, you should read ‘Case Against The Fed’, written by the economist Murray Rothbard in 1994. He tells how the Federal Reserve operates, and how it was created by big banking and business elites so they can basically legally counterfeit money. Here’s a link to the PDF, which the Mises institute has made available for free.
As of right now, the Federal Reserve bank is a private bank, which controls all aspects of our currency and major monetary policies, and does ANYTHING it wants. They’ve been in control of all these trillions of dollars in bailout money, and Congress is pleading, begging just for basic information on what they’re doing with the money. But they’re getting the run around. In other words, Congress doesn’t even know where the trillions have been going. Bankers are running wild with trillions of taxpayer dollars.
So back in February Rep. Ron Paul proposed HR 1207, The Federal Reserve Transparency Act, which makes various aspects of the Federal Reserve’s books open to Congress. It will make aspects of the Fed subject congressional oversight, such as discount window operations, funding facilities, open market operations (where they buy treasury bills, etc), and agreements with foreign central banks and governments.
I looked on the list of congressmen who have not yet decided to support the bill, and found that the representative from my district is not on the list. I sent her this letter: (If you haven’t contacted your congressman yet, you should! Do it!)
Right now government spending is out of control. Over $12 trillion has been pledged towards our financial crisis, and myself, and many others are concerned about where all this money is going.
To top all this off, the Federal Reserve refuses to furnish Congress and the American people with records of how they are spending the trillions of taxpayer dollars they’ve been given to manage.
I don’t believe this sort of information, especially considering the gravity of our economic situation, should remain concealed. No one knows where our money is going, and I don’t believe we can move our economy forward being in the dark.
I recently watched a video on Youtube, where the inspector general of the Fed was interviewed by Rep. Alan Grayson, and it left me sick to my stomach. I’ve included the link for you to watch.
After watching videos like these, and reading the news, I just find it hard to believe this is happening. I’ve heard there is a bill which is gaining serious momentum where the Federal Reserve’s books will be audited, and we will see where all this money is going. On the recovery.gov website, there is all this talk about “Transparency”. President Obama campaigned that he was going to give us a “Google for government spending”, where we can view things line by line. But then huge budgets are being passed that nobody even has time to read! And the Federal Reserve won’t tell any of us where this money is going!
But I was greatly encouraged to hear about HR 1207. The Federal Reserve books can be open, so all of us can know what they’re doing! It sounds like so little to ask. Please support HR 1207 so that we can know where all our taxpayer money is going, and unveil the activities of the Federal Reserve bank.