No comments yet
Ron Paul’s bill to audit the Federal Reserve continues to gain momentum. Last week’s announcement quickly became one of the most popular articles here at RonPaul.com, and H.R. 1207 now has eleven co-sponsors!
If you too would like to see Ben Bernanke squirm and finally reveal what the Fed has been up to behind the scenes, call and write your representatives and ask that they support the “Federal Reserve Transparency Act H.R. 1207″
Here’s a sample letter you can use:
Please co-sponsor and/or support H.R.1207, an effort to audit the Federal Reserve.
Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.
Currently there are 11 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.
Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.
Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.
Auditing the Fed is only the first step towards exposing this antiquated insider-run creature to the powerful forces of free-market competition. Once there are viable alternatives to the monopolistic fiat dollar, the Federal Reserve will have to become honest and transparent if it wants to remain in business.
111th Congress - 1st Session
To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Federal Reserve Transparency Act of 2009″.
SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.
(a) IN GENERAL. - Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after “shall audit an agency” and inserting a period.
(b) AUDIT. - Section 714 of title 31, United States Code, is amended by adding at the end the following new subsection:
“(e) AUDIT AND REPORT OF THE FEDERAL RESERVE SYSTEM. -
“(1) IN GENERAL. - The audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) shall be completed before the end of 2010.
“(2) REPORT -
“(A) REQUIRED. - A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, the majority and minority leaders of the Senate, the Chairman and Ranking Member of the committee and each sub-committee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
“(B) CONTENTS. - The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.”.
Rep. Ronald Paul [R-TX]
Cosponsors [as of 2009-03-04]
Rep. Lynn Woolsey [D-CA]
Rep. Ted Poe [R-TX]
Rep. Walter Jones [R-NC]
Rep. Roscoe Bartlett [R-MD]
Rep. Steve Kagen [D-WI]
Rep. Dan Burton [R-IN]
Rep. Bill Posey [R-FL]
Rep. Dennis Rehberg [R-MT]
Rep. Paul Broun [R-GA]
Rep. Neil Abercrombie [D-HI]
Rep. Michele Bachmann [R-MN]