Rand Paul Rallies Support for his Audit the Fed Bill

bernankedollar

On July 29, Senator Rand Paul (shown, R-Ky.) sent a message to members of the Campaign for Liberty asking for help in a project very familiar to that organization:

I’ve introduced S. 209, the Audit the Fed bill, and I’m going to do everything I can to expose the Fed and stop Ben Bernanke’s economic snake oil “solutions” from wrecking our fragile economy.

Your action today in support of my father’s Campaign for Liberty will help turn up the heat on my colleagues to pass Audit the Fed.

In February, Senator Rand Paul (R-Ky.) offered the Federal Reserve Transparency Act of 2013, also known as “Audit the Fed.” The bill would eliminate restrictions on Government Accountability Office (GAO) audits of the Federal Reserve. Additionally, the bill would give Congress oversight of the Fed’s credit facilities, securities purchases, and quantitative easing activities.

“The Fed’s operations under a cloak of secrecy have gone on too long and the American people have a right to know what the Federal Reserve is doing with our nation’s money supply,” Paul said in a statement. “Audit the Fed has significant bipartisan support in Congress and across the country and the time to act on this is now.”

There may be hope that the people’s representatives may actually finally wrest the reins of federal fiscal policy away from the unelected, unaccountable governors of the Federal Reserve.

As of the time of writing, Senator Paul’s bill, S. 209, has 24 cosponsors in the Senate, including one Democrat, Mark Begich of Alaska.

In January, a companion measure was offered in the House of Representatives by Representative Paul Broun (R-Ga.) and currently has 153 cosponsors.

When it comes to dragging the policies and procedures of the Federal Reserve into the sunshine of congressional oversight, Rand Paul comes by it honestly, via fatherly influence.

As recounted on RonPaul.com:

For the past 30 years, Congressman Ron Paul has worked tirelessly to bring much-needed transparency and accountability to the secretive bank. And in 2009 and 2010 his unfaltering dedication showed astonishing results: HR 1207, the bill to audit the Federal Reserve, swept the country and made the central bankers shudder at their desks. The bill passed as an amendment both in the House Financial Services Committee and in the House itself.

Then, in 2012, his final year in the House, Congressman Ron Paul reintroduced the Audit the Fed bill (H.R. 459), which passed the House 327-98.

In fact, Representative Broun’s bill currently pending in the House is a copy of Ron Paul’s bill. In a statement, Broun said he was fighting the Fed in order to “pick up where Ron Paul left off.

Read full article here

  • olde reb

    Is
    the following information of interest to you or your readers ??

    Olde
    Reb

    **********************************

    TO
    STEAL FROM GOVERNMENT

    ***

    CREATE
    A CENTRAL BANK

    The Federal Reserve
    embezzles $4 billion daily – 7/52 – from the government of the
    United States. It uses the FRBNY’s exclusive handling of the auction
    accounts of Treasury securities. The accounts handle more than $8.5
    trillion annually. The account disbursements—almost entirely to the
    Primary Dealers (which includes the unidentified owners of the BOG
    [1])–
    have NEVER been audited. All audits
    of the Fed are conducted in accordance with guidelines established by
    the BOG. The accounts are not mentioned in the Annual
    Report of the BOG to Congress.

    Our founding fathers
    reflected on economic history while considerating a central bank
    during the fledgling United States. They recalled numerous
    “financiers” who had provided rulers with “loans” so that
    revenue was available for projects deemed beneficial by the ruler.
    The method invariably involved inflation which is also identified as
    debasing the currency. Western Europe has had more than their share
    of such cases and they always resulted in great civil turmoil.

    The Magna Carta
    resulted from financiers’ warmongering in London who induced King
    John to invade Normandy. The Barons, who were the king’s appointed
    governors of geographical enclaves, would have had to supply troops
    and pay to invade the French territory. The barons revolted and
    forced King John to accept the Magna Carta at the point of a sword.
    The financiers continued to direct rulers to increase the tax burden
    and debase the currency. The practice was very profitable for them
    but impoverished the citizenry. Eventually the nation rebelled, the
    financiers had their property seized, they were physically abused,
    and they were exiled in 1290.

    A similar group of
    financiers were operating in France during the same era. Those
    financiers were exiled in 1305.

    The King of Spain
    also used a similar band of financiers to confiscate the wealth of
    the citizens for his self aggrandizement. Those financiers were
    exiled in 1492.

    The House of
    Rothschild (HOR) is renowned for “loaning” funds to European
    rulers for a profit. The people of the nations were always
    impoverished. Their operation invariably involves a central bank to
    issue money but the precise manipulation of the funds that results in
    such great profit (for the financiers) is generally overlooked. Since
    HOR was a leading factor in establishing the central bank in the
    United States (the Federal Reserve), perhaps their profitable scheme
    can be deduced from the Fed’s operation. The same scheme appears
    evident in the creation of the Euro.

    First, the approval
    of government is required to authorize giving a U.S. Treasury debt
    instrument (bill, bond, or note) to the Fed. When the Federal Reserve
    Bank of New York receives the deficit spending security (as
    collateral), it will credit a government account for the face value.
    The government gets to spend the book entry money for pork barrel
    projects in legislators’ home districts and politicians expect
    favorable votes from grateful citizens in the next election.
    Financiers involved will also make donations to campaigns of
    supportive legislators.

    Mathematically, the
    new money becomes increased reserves for commercial banks which the
    commercial banks will multiply ten times using the fractional reserve
    scheme. No wonder the bankers are happy.

    Isn’t everything
    wonderful ? The connected people get all of this new money. We will
    ignore the poor bloke whose fixed value asset lost value because of
    inflation, who must pay interest of the fraudulent loan (that can
    never be paid off) into perpetuity, and whose salary is now
    diminished because all government employees got salary increases
    because of inflation and they obviously need more money. But what of
    the Treasury deficit spending security that was transferred to the
    FRBNY ?

    Obviously the FRBNY
    would want to sell them so they arrange to auction them with the
    disguise of a Treasury operation. The FRBNY already has a similar
    operation with the Primary Dealers to auction over $7 trillion in
    government securities to roll-over prior existing debt so a trillion
    in deficit spending debt will not be a big thing.

    But notice that
    funds for roll-over securities are credited to a government account
    to pay for the securities collected by the PD’s from the market. The
    funds are paid to PD’s but there is no inflation and there is no
    increase in the National Debt.

    To create new money
    and result in inflation, the funds from deficit spending security
    auctions cannot be credited to a government account. Where does the
    FRBNY send the one trillion dollar (annually) from deficit spending
    securities ? Why not send it to the Primary Dealers along with the
    other $7 trillion ? It is the perfect cover for pretending to pay
    back a “loan” that was never made. If consideration had been put
    up by the PDs for the loan, there would not be any increase in the
    amount of money in circulation (inflation). The trillion dollars from
    deficit spending securities is pure profit. The involved accounts
    exclusively maintained by the FRBNY have never been audited. They are
    not mentioned in the Annual Report of the BOG to Congress.

    Select members of
    the PDs are the same entities that created the Fed. They are the
    undocumented owners of the Board of Governors. Privately owned
    corporations are not required to publish corporate records or
    ownership.

    Charter legislation
    of the Fed stipulates profit legally belongs to the government.
    Hiding money that belongs to the government is a crime.

    But who will
    investigate crimes of the Federal Reserve ??

    (additional analysis
    and documentation available upon request)

    footnote
    1: The unidentified and secret ownership of the Board of Governors
    should not be confused with the adjudicated private ownership of the
    12 Federal Reserve Banks. The commercial banks purchase a FRB
    franchise and are under administrative and regulatory control of the
    BOG. Any FR bank director can be terminated without cause or recourse
    by the BOG. The status of the BOG as a government agency (with
    sovereign immunity) or as a government contractor (without immunity)
    has not been adjudicated. Privately held corporations, such as
    suspected of the BOG, do not have to disclose corporate records.

    1The
    unidentified and secret ownership of the Board of Governors should
    not be confused with the adjudicated private ownership of the 12
    Federal Reserve Banks. The commercial banks purchase a FRB franchise
    and are under administrative and regulatory control of the BOG. Any
    FR bank director can be terminated without cause or recourse by the
    BOG. The status of the BOG as a government agency (with sovereign
    immunity) or as a government contractor (without immunity) has not
    been adjudicated. Privately held corporations, such as suspected of
    the BOG, do not have to disclose corporate records.

  • LetsTryLibertyAgain

    I’m the guy who designed the Bernanke Bucks shown above. The back is a campaign ad for Rand for his 2010 US Senate race. I introduced them in a grassroots planning meeting for Rand’s campaign, almost two years before the general election. Rand was at that meeting but had nothing to do with the Bernanke Bucks. They were 100% grassroots. I printed almost 40,000 of these and they were distributed by grassroots Rand Fan volunteers throughout the lengthy primary race.

    I’m sickened to now report that Rand has apparently become a DC denizen in his quest to be president in 2016. He endorsed Romney, he endorsed McConnell and he endorsed Susan Collins. He really seems to like the RINOs. McConnell has been a US Senator for 30 years and Rand endorsed him for a sixth term. Term limits were a consistent message in Rand’s campaign. I guess we should have asked him to be more specific. We didn’t think he’d be in favor of 36 years in the Senate. Rand is now promoting Economic Freedom Zones, along with McConnell. Freedom sounds good, but this is just another government wealth redistribution scheme where they play games with tax rates to take more from some to subsidize failure. Rand campaigned against government picking winners and losers, but that’s exactly what this is. Whenever a local economy is destroyed by an excess of government and by government corruption, Rand now wants to subsidize that with the tax dollars of those who are still productive. It’s a race to the bottom on the socialist superhighway.

    Rand’s votes have been good, and we put up with a lot of ideological backstabbing as we continued to support him, but most of the Rand Fans in Kentucky feel betrayed. We had great candidates and other than Thomas Massie, Rand supported the establishment RINOs. And now, his policies are starting to reflect his new establishment loyalties.

    We elected “I have a message from the TEA Party and it doesn’t mince words”, and now we’re hearing “I’m a moderate.”

    Rand’s actions have completely demotivated the once vibrant liberty movement in Kentucky. Many of us believed, and we worked as grassroots volunteers on his campaign as a two year unpaid full time job, and now we see what has become of Rand in just three years, and the wind is completely out of our sails. It’s difficult to get support for the few good candidates who step up to run for office.

    I still believe in term limits. Looking at the transformation of Rand, I think half a term would be a good term limit for a US Senator.

b9sJxqr097Kgo
%d bloggers like this: