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From:Centennial Co. USA
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posted 09-18-2014 10:50 AM                  

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House Votes To Audit The Fed
September 17, 2014 by Ben Bullard

Ron Paul tried this in 2012. Now the House of Representatives is trying again, with some Senate support from Paul’s son Rand: passing a law requiring the comptroller general of the Government Accountability Office to audit the Federal Reserve.
The House voted 333-92 today in favor of a bill, sponsored by Rep. Paul Broun (R-Ga.), that would expose the Federal Reserve to an audit that delves further into the Fed’s monetary policymaking process and market operations than the current annual audit built into the board’s oversight. Only one Republican congressman voted against the bill; 106 Democrats voted in favor of it also.
As he did in 2012 to advance his father’s efforts, Sen. Rand Paul (R-Ky.) has introduced a companion bill in the Senate.
Rand Paul justified the need for additional scrutiny and accountability in a lengthy January rant:

Don’t let anyone tell you we already have an audit of the Fed. No meaningful audit of the Fed exists and when the primary auditor and overseer of the Fed was asked about $9 trillion dollars, the Inspector General had no clue what had been purchased with $9 trillion dollars. Is there a chance, that the Fed only has our best interests at heart? Sure. But when trillions of dollars change hands, wouldn’t you want to know who got the money and did anyone enrich themselves in the process? $9 trillion is over half of our entire national debt. This is money that is being doled out, in secret, by our central bank. This is, in a sense, laundering money from the American people to bail out big banks and Wall Street.
… The purpose of my bill is to eliminate the current restrictions on GAO audits of the Fed, along with mandating that the Federal Reserve’s credit facilities, securities purchases, and quantitative easing activities become subject to Congressional oversight. Looking into what the Federal Reserve does with our money has significant support from both parties, many members of which have heard the same concerns back home in their states and districts. The Federal Reserve is one of the most secretive institutions in our history. For decades, the people in charge at the Fed, politicians and various “experts” have insisted that such secrecy was integral to its independence and effectiveness.
I can see no reason why the American public should not be allowed to see behind the veil of secrecy at the Fed.

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Prowler Junkie

From:mesa, az, USA
Registered: Jul 2000
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posted 09-18-2014 12:27 PM                  

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And will Horrible Harry Reid (D-NV) allow the Bill to be voted on in the Senate?

I'm guessing,,,not

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Prowler Junkie

From:Centennial Co. USA
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