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Thread: House Votes To Audit The Fed

  1. #1
    Join Date
    Aug 2014
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    House Votes To Audit The Fed

    House Votes To Audit The Fed

    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:
    [D]on’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.


  2. #2

    Re: House Votes To Audit The Fed

    Why wouldn't the senate want to audit the fed? The fed funnels money into the rich, so why wouldn't the dems want to audit it. The dems are champions for the poor, which is the opposite of what the fed is. Why would they vote against this?
    I am going to tear down your safe space
    Brick by brick I shall smash it with glee
    You cannot stop me from getting inside
    I am cold and I am hard and my name is 'Reality'

  3. #3

    Re: House Votes To Audit The Fed

    Harry Reid?
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire (1694 - 1778)

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