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Ron Paul's ultimate goals have not changed over the years he's been concerned by the impacts on the nation's economy.
"To understand how unwise it is to have the Federal Reserve, one must first understand the magnitude of the privileges they have," he wrote in a recent Straight Talk commentary. "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."
The Federal Reserve Transparency Act of 2009 (H.R. 1207) is a bill introduced in the U.S. House of Representatives of the 111th United States Congress by Congressman Ron Paul (TX-14). The bill proposes a reformed audit of the Federal Reserve System (the "Fed") before the end of 2010
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Proponents state that the Fed has never been audited by Congress since the Fed's creation in 1913.[4][5] Until 2009, the idea of auditing the Fed was considered a low-minority political position, supported by groups like the John Birch Society.[6] However, there has been significant support for auditing and even abolishing the federal reserve among academic economists, including Nobel Laureates F.A. Hayek and Milton Friedman, though it should also be noted that economists such as Douglass North have provided significant evidence of the importance of a politically independent central bank. The Federal Reserve states that "the financial statements of the Federal Reserve Banks and the Board of Governors are audited annually by an independent outside auditor."[7] Paul says that the present audit process exempts the Fed's "most crucial activities".
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As of June 10, 2009, H.R. 1207 had 208 cosponsors, including 51 Democrats,[15] suggesting broad bipartisan support.[16][17] 218 votes are needed to pass any bill in the House.
I am in full support and proud to see my Rep supports it too! I think it's high time! Why wouldn't everybody support such a bill?
unfortunately it is for all intents and purposes dead in committee since february, where our congress actually wants it to stay, unless something drastic happens. Search Results - THOMAS (Library of Congress)
i do urge anyone who is interested to contact their representative and urge the federal reserve audit. what do they have to hide? this website has a page where you can access your representative by state and link directly to their email. it could not be easier: http://www.campaignforliberty.com/
Sure would be nice to have some transparency.
Alas, will never happen.
I keep hoping for Bill HR 450 to pass.
So, why would Congress NOT pass a bill that requires them to abide by the Constitution?
Hmmmmmmmmm.
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H.R.450 Title: To require Congress to specify the source of authority under the United States Constitution for the enactment of laws, and for other purposes. Search Results - THOMAS (Library of Congress)
Ron Paul's ultimate goals have not changed over the years he's been concerned by the impacts on the nation's economy.
"To understand how unwise it is to have the Federal Reserve, one must first understand the magnitude of the privileges they have," he wrote in a recent Straight Talk commentary. "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."
I am in full support and proud to see my Rep supports it too! I think it's high time! Why wouldn't everybody support such a bill?
Sorry common sense and truth have no place in this forum.
Lets talk about Palin, Obama and gay marriage.
I support the bill just as I supported him for president I feel the education level on the governments role and the money supply is lacking.
Paul (TX14) - Press Releases - Audit the Fed Bill Reaches Crucial Benchmark (http://www.house.gov/apps/list/press/tx14_paul/audit.shtml - broken link)
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For Immediate Release
June 11, 2009
Audit the Fed Bill Reaches Crucial Benchmark
Washington, D.C. - Congressman Ron Paul's Federal Reserve Transparency Act, HR 1207, has reached and surpassed the level of 218 cosponsors in the House of Representatives, which means it is now cosponsored by a majority of the members.
The 218th cosponsor was Dennis Kucinich (OH-10), and the bill has since received its 222nd cosponsor.
Sorry common sense and truth have no place in this forum.
Lets talk about Palin, Obama and gay marriage.
I support the bill just as I supported him for president I feel the education level on the governments role and the money supply is lacking.
I couldn't agree with you more!
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HR1207 has majority support in house
