HR 1207

[Guest jackdog]

Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 33 co-sponsors, and the numbers keep growing!

Keep up the great work everyone!

If you haven’t done so already, tell everyone you know to call and write their representative and ask that they support the “Federal Reserve Transparency Act H.R. 1207″.

If you called before and if your representative is not listed below, follow up and ask them to take a position either way so we know where they stand on the issue of bringing transparency to the Federal Reserve.

Capitol Switchboard: (202) 224-3121

Here’s a sample letter you can use.

HR 1207 Co-Sponsors (as of 3/19/2009)

Rep Abercrombie, Neil [HI-1] - 2/26/2009

Rep Alexander, Rodney [LA-5] - 3/10/2009

Rep Bachmann, Michele [MN-6] - 2/26/2009

Rep Bartlett, Roscoe G. [MD-6] - 2/26/2009

Rep Blackburn, Marsha [TN-7] - 3/16/2009

Rep Broun, Paul C. [GA-10] - 2/26/2009

Rep Buchanan, Vern [FL-13] - 3/17/2009

Rep Burton, Dan [iN-5] - 2/26/2009

Rep Castle, Michael N. [DE] - 3/17/2009

Rep Chaffetz, Jason [uT-3] - 3/6/2009

Rep DeFazio, Peter A. [OR-4] - 3/9/2009

Rep Duncan, John J., Jr. [TN-2] - 3/6/2009

Rep Fleming, John [LA-4] - 3/18/2009

Rep Foxx, Virginia [NC-5] - 3/10/2009

Rep Garrett, Scott [NJ-5] - 3/5/2009

Rep Grayson, Alan [FL-8] - 3/11/2009

Rep Heller, Dean [NV-2] - 3/6/2009

Rep Jones, Walter B., Jr. [NC-3] - 2/26/2009

Rep Kagen, Steve [WI-8] - 2/26/2009

Rep Kingston, Jack [GA-1] - 3/6/2009

Rep Marchant, Kenny [TX-24] - 3/11/2009

Rep McClintock, Tom [CA-4] - 3/6/2009

Rep Petri, Thomas E. [WI-6] - 3/10/2009

Rep Poe, Ted [TX-2] - 2/26/2009

Rep Posey, Bill [FL-15] - 2/26/2009

Rep Price, Tom [GA-6] - 3/10/2009

Rep Rehberg, Denny [MT] - 2/26/2009

Rep Rohrabacher, Dana [CA-46] - 3/6/2009

Rep Stearns, Cliff [FL-6] - 3/6/2009

Rep Taylor, Gene [MS-4] - 3/6/2009

Rep Wamp, Zach [TN-3] - 3/16/2009

Rep Woolsey, Lynn C. [CA-6] - 2/26/2009

Rep Young, Don [AK] - 3/6/2009

Read the bill and bookmark & share this page for the latest news, updates, interviews, etc.

[DWARREN123]

The FED should be audited on a regular basis.

[Guest jackdog]

yes it should. There is absolutely no one that actually knows everything the fed is doing except the feds board of governors.

[Guest Mugster]

It sounds good in theory. But its like a crook auditing the inept. I see no real value to it.

[Guest justme]

Considering that the "FED" is un Constitutional by its' very nature, and that the last time the US was completely debt free was under Pres. Andrew Jackson when he abolished the Central Bank...I say we go further and have a bill introduced which will completely eradicate us of the "FED", and of our debt as a nation and that we should go back to backing currency by the Gold standard.

[Guest jackdog]

Considering that the "FED" is un Constitutional by its' very nature, and that the last time the US was completely debt free was under Pres. Andrew Jackson when he abolished the Central Bank...I say we go further and have a bill introduced which will completely eradicate us of the "FED", and of our debt as a nation and that we should go back to backing currency by the Gold standard.

I totally agree with you. I think that is the goal of Mr. Paul. He has been making this point for well over 6 years. I think the audit would wake a bunch of folks up.

[Guest smittyb]

This is not a 2A related bill, but it is one I feel is very worthwile. If you feel the same, please contact your represenatives and let them know you feel so. This bill will bring transparency to the federal reserve by opening them to full audit. What should they have to be afraid of?

H.R. 1207: Federal Reserve Transparency Act of 2009 (GovTrack.us)

[dwcz]

Sounds good to me, I will be writing my reps to support it, but good luck. As far as I can tell, there has never been an external audit of the debt machine we know as the Federal Reserve.

Something to think about:

The US pays over 17.5 million per hour in interest to the Fed...

Here's a Presidential quote from just three years after founding the Fed:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men."

-Woodrow Wilson, after signing the Federal Reserve into existence

"The few who understand the system, will either be so interested in its profits, or so dependent on its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantages...will bear its burden without complaint, and perhaps without suspecting that the system is inimical to their best interests."

- Rothschild Brothers' of London communiqué to associates in New York June 25, 1863

"Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."

- James Garfield, 20th President

"The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes."

Abraham Lincoln

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war."

Abraham Lincoln - In a letter written to William Elkin less than five months before he was assassinated.

Edited April 17, 2009 by dwcz

[Daniel]

I post on a board that is generally 20s-30s yo males a few (women and older people) outside of this but primarily that demographic. They are probably also young independents/dems. Several/most are in the computer or music industry.

A thread was started on HR 1207

Audit the Federal Reserve (HR 1207)

Federal Reserve Transparency Act of 2009

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.

This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With more than 40% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

I think it will make it through the house, just hope this makes it gains support in the Senate.

I was a avid Paul supporter during the last election and still am.

Not a big fan of Beck but I think she breaks it down pretty well.

http://www.youtube.com/watch?v=Btu1cSRvFZY

go here for updates and to join the fight.

http://www.campaignforliberty.com

I think it will make it through the house, just hope this makes it gains support in the Senate.

I was a avid Paul supporter during the last election and still am.

Not a big fan of Beck but I think she breaks it down pretty well.

http://www.youtube.com/watch?v=Btu1cSRvFZY

go here for updates and to join the fight.

http://www.campaignforliberty.com

I think Glenn Beck is a flippin loon.

Now, that being said, HR 1207 ( from what I am seeing here ) is a very interesting piece of proposed legislation. But there's more to anything that you see on Fox"News".

Definately going to read up on this

And, for the record, anytime someone on Fox talks about "grass-roots movements", I throw up in my mouth a little.

being a little more conservative, i don't really like glenn beck so much. sometimes i do. but ****ing sean hannity makes me want to punch babies.

see quote in sig please

actually i'll just put it here sense so many on here are elitist's and turn off sigs

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

by Thomas Jefferson

i email myself a copy of the constitution in hopes the feds might actually read it

I then remarked how you guys had similiar views as lots here.

Edited June 18, 2009 by Daniel

[Guest SUNTZU]

Nice.

[Daniel]

I included the thread so far.

[Guest db99wj]

but ****ing sean hannity makes me want to punch babies.

That's funny right there, I don't care who you are!

[Daniel]

Federal Reserve Threatens Congress Over HR 1207: CALL YOUR SENATORS AND GET THIS BILL S 604 PASSED

Federal Reserve Threatens Congress Over HR 1207: CALL YOUR SENATORS AND GET THIS BILL S 604 PASSED | The Citizen Online

On Thursday of last week, the Federal Reserve’s vice chairman, Donald Kohn, threatened to jack up interest rates if Congress continues to expose “some of the U.S. central bank’s most sensitive decisions to political scrutiny,” Reuters reported. “Any substantial erosion of the Federal Reserve’s monetary independence likely would lead to higher long-term interest rates as investors begin to fear future inflation,” Kohn told a House of Representatives Financial Services subcommittee.

Kohn’s threat came as Ron Paul’s bill to audit the Federal Reserve (HR 1207) has picked up 256 co-sponsors — more than 55% of the House of Representatives. HR 1207’s companion bill in the Senate, S 604, has already attracted 8 co-sponsors. Kohn and his boss Ben Bernanke are obviously very concerned over the prospect that the American people may soon have a look at their books.

Ron Paul: “political shenanigans” going on with the Fed.

Kohn went before Congress as debate rages over Obama’s plan for “regulatory reform,” in effect granting the Fed power to gobble up companies in national socialist fashion and consolidate banking and securities across the board. In order to quell outrage over this brazen power grab, Obama and his bankster advisers propose a token council of regulators advise the Fed.

On June 16, Goldman Sachs operative Timothy Geithner said: “When you have too many people involved, there’s an accountability problem.” In other words, Congress and the American people need to mind their own business. The Federal Reserve is an institution owned by the bankers, not the American people.

“Some people think the Federal Reserve Banks are the United States government’s institutions,” Louis T. McFadden, Chairman of the Committee on Banking and Currency in 1932 during the “Great Depression,” had entered into the Congressional Record. “They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers.”

McFadden’s international swindlers are running scared from HR 1207 and public anger over last year’s engineered financial crisis and Fed-orchestrated “bailouts” of investment bank Bear Stearns and insurer American International Group.

“The Federal Reserve strongly believes that removing the statutory limits on GAO audits of monetary policy matters would be contrary to the public interest by tending to undermine the independence and efficacy of monetary policy,” said Kohn. He said accountability to the people would “cast a chill” on monetary policy deliberations held in secret behind closed doors.

Kohn then threatened to jack up interest rates. “The bond rating agencies view operational independence of a country’s central bank as an important factor in determining sovereign credit ratings, suggesting that a threat to the Federal Reserve’s independence could lower the Treasury’s debt rating and thus raise its cost of borrowing.”

Bernanke’s underling made no bones about the fact Paul’s bill is a direct threat to the “independence” of the Federal Reserve. “History provides numerous examples of non-independent central banks being forced to finance large government budget deficits. Such episodes invariably lead to high inflation,” he said. “Given the current outlook for large federal budget deficits in the United States, this consideration is especially important.”

Talk about doublespeak. In fact, the Federal Reserve is all about huge federal budget deficits and a mounting federal debt. The Federal Reserve was established in 1913 by the banksters for the purpose of creating debt-based money secured by thin air. The American people are seriously and terminally indebted to the bankers and currently owe over $400 billion a year in interest alone, with no hope of every paying off the principal, which is in the tens of trillions.

In 1910, before the passage of the Federal Reserve Act, the federal debt was a mere $1 billion, or $12.40 per citizen. Now the overall debt is over 80% of the annual output of the entire U.S. economy, as measured by the gross domestic product. When government “obligations” are considered, the debt balloons to an astronomical $56 trillion, or roughly $184,000 per American, according to the Peter G. Peterson Foundation.

It is simple, really — the larger the debt, the richer and more powerful the international bankers become. The Federal Reserve is their front organization and it runs roughshod over Congress.

The passage of HR 1207 is not certain and it faces an even more strenuous uphill battle in the Senate. It is, at this point, our only practical hope of auditing the Fed, revealing its numerous crimes, exposing its mega-grand theft scams, and delivering Donald Kohn, his boss Bernanke, and the minions of the international banksters to justice.

[ukerduker]

I have been watching this legislation and wondered how far it would go. I thought I heard last week Harry Reid said he would kill any Senate bill like this. I guess he is part of the "under the table mischief" going on inside the FED. Even with all the support in the House, would bill get out of committe? Would nazi Pelosi allow the bill to come to a floor vote? I smell a rat or many rats.

I say let's open the books. Let the people see where are trillions are going. These guys have no right to keep secrets from us.

[ukerduker]

I received responses from both Alexander and Corker on this bill. Looks like Lamar is against it and Corker "might" be for it.

Thank you for contacting my office regarding S. 604, the Federal Reserve Sunshine Act. Your input is important to me, and I appreciate the time you took to share your thoughts.

Like you, I understand the importance of having strong federal monetary policy with appropriate oversight measures, particularly during these difficult economic times. S. 604 would require the Comptroller General of the Government Accounting Office (GAO) to audit portions of the Federal Reserve that are currently exempt from audit. Due to the Federal Reserve's active role in trying to diffuse systemic economic risks, I believe access to certain Federal Reserve records is important to ensure appropriate oversight. As a member of the Senate Banking, Housing, and Urban Affairs Committee, I look forward to working with my colleagues to provide better transparency of federal expenditures.

Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate.

Sincerely,

Bob Corker

Thanks very much for getting in touch with me and letting me know what's on your mind regarding the Federal Reserve System.

In 1913, Congress created the Federal Reserve System to serve as the central bank of the United States in order to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded. Today, its duties include regulating banks and influencing credit conditions in pursuit of a stronger economy. You can learn more about the Federal Reserve's history and current role at http://www.federalreserve.gov/pf/pdf/pf_1.pdf">http://www.federalreserve.gov/pf/pdf/pf_1.pdf</a>.

The Federal Reserve does not run on taxpayer dollars from Congress. In fact, each year the Federal Reserve returns any profits to the U.S. Treasury - including nearly $35 billion in 2008. However, by law the Federal Reserve is accountable to Congress. For example, members of its Board of Governors are confirmed by the U.S. Senate, and Federal Reserve officials must appear before congressional committees several times each year. In addition, the Federal Reserve must issue annual reports and undergo regular audits that cover most of its activities. (Thanks for the history lesson a$$hat, now what about the audit?)

While ensuring that the Federal Reserve System remains accountable for its actions, Congress should not try to micromanage the Federal Reserve and weigh it down with overly burdensome reporting requirements. It was set up to be independent of the political trends in Washington, and it should remain that way. (so the Fed is accountable, but no one in Congress knows what's going on? I get it. You are "on the take" too.)

I appreciate your taking the time to let me know where you stand. I'll be sure to keep your comments in mind (Yeah, out of mind)when the Federal Reserve is discussed and debated in Washington and in Tennessee.

Sincerely,

Lamar

I truly cannot stand getting responses from Lamar. I assume we are best buddies since he is on a first name basis with me now.

[Guest ScottD]

I sent Congressman Gordon an email asking him to back the Audit The Fed bill about a week ago. I got a response yesterday:

Dear Scott,

Thank you for sharing your support for H.R. 1207, the Federal Reserve Transparency Act. Hearing from you helps me better represent Middle Tennessee.

I understand your view that auditing the Federal Reserve would provide much needed transparency. The three major branches of the Fed are already audited by the Government Accountability Office (GAO). Some information is not made public because of its sensitive nature and potential market fluctuation. I agree we must practice more fiscal responsibility, but believe the unintended consequences of total transparency need to be examined before auditing the Fed. The House Committee on Financial Services, of which I am not a member, is studying this legislation. I look forward to reviewing their recommendations should this bill come to a vote in the full House and working to provide responsible oversight.

Again, thank you for your input on this important issue. As always, if I may be of assistance to you or your family, please do not hesitate to call on me.

Stay in touch,

BART GORDON

Nice way to say I support it, but I really don't.

[Guest PapaB]

Congressional bulls**t translation:

Dear Scott,

... Hearing from you helps me better represent Middle Tennessee. Now I know who to ignore.

I understand your view that auditing the Federal Reserve would provide much needed transparency.The three major branches of the Fed are already audited by the Government Accountability Office (GAO). And they're audited so thoroughly we had to introduce this legislation. Some information is not made public because of its sensitive nature and potential market fluctuation. It would scare the he*l out of you. I agree we must practice more fiscal responsibility, but believe the unintended consequences of total transparency (you might find out what I've been up to) need to be examined before auditing the Fed. The House Committee on Financial Services, of which I am not a member, (whatever they do isn't my fault, I'm not responsible) is studyingthis legislation. I look forward to reviewing their recommendations (I need a good laugh) should this bill come to a vote in the full House and working to provide responsible oversight.

Again, thank you for your input on this important issue. As always, if I may be of assistance to you or your family, please do not hesitate to call on me. Please be naive enough to think I care so you'll re-elect me.

Stay in touch,

BART GORDON

[creeky]

Okay... that was this best narration of a letter I have ever read!

Awesome!

[Guest SUNTZU]

Love the translation, hate the politician(s).

[BigPoppa]

PapaB is fluent in Congressese !

[Guest ScottD]

Ready for more horse sh*t?

Bob Corkers reply:

Dear Scott,

Thank you for contacting my office regarding S. 604, the Federal Reserve Sunshine Act. Your input is important to me, and I appreciate the time you took to share your thoughts.

I understand the importance of having a strong monetary policy with appropriate oversight measures, particularly during these difficult economic times. As you know, S. 604 would remove all existing audit restrictions and confidentiality restrictions, and require the GAO to perform an audit of the Fed. In its current form, I cannot support this legislation because I fear it will politicize the Fed's role in crafting unbiased and non-partisan monetary policy.

While I am concerned about preserving the independence of the Fed, I agree that oversight is necessary. That is why I supported legislation earlier this year that gave the Government Accountability Office (GAO) the authority to audit activities of the Federal Reserve Board with regard to the emergency actions it has taken to address the current financial crisis. You should also know that despite being created as an independent agency, the Federal Reserve is accountable to the United States Congress. Reports, audits, and hearings are required of the Federal Reserve several times per year. As a member of the Senate Banking, Housing, and Urban Affairs Committee, I look forward to reviewing the policies set and actions taken by the Fed, and the effects they are having on our financial system.

Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate.

Sincerely,

Bob Corker

United States Senator

PapaB, get to it!

[Guest PapaB]

Here we go again:

Dear Scott,

Thank you for contacting my office regarding S. 604, the Federal Reserve Sunshine Act. Your input is important to me, and I appreciate the time you took to share your thoughts. I wish I knew what having thoughts was like.

I understand the importance of having a strong monetary policy with appropriate oversight measures, particularly during these difficult economic times. After all, our monetary policy and oversight measures are what gave us this economy. As you know, S. 604 would remove all existing audit restrictions and confidentiality restrictions, and require the GAO to perform an audit of the Fed. Remove restrictions? My God man, they're not Congress you know. What were you thinking? In its current form, I cannot support this legislation because I fear it will politicize the Fed's role in crafting unbiased and non-partisan monetary policy. I haven't the slightest idea what that means but it sounded good when my Congressional Aide said it.

While I am concerned about preserving the independence of the Fed, I agree that oversight is necessary (as long as it's not oversight of Congress). That is why I supported legislation earlier this year that gave the Government Accountability Office (GAO) the authority to audit activities of the Federal Reserve Board with regard to the emergency actions it has taken to address the current financial crisis. I hope that makes you think we're doing something. (Not something useful, but something). You should also know that despite being created as an independent agency, the Federal Reserve is accountable to the United States Congress. Reports, audits, and hearings are required of the Federal Reserve several times per year. As a member of the Senate Banking, Housing, and Urban Affairs Committee, I look forward to reviewing the policies set and actions taken by the Fed, and the effects they are having on our financial system. I hope you don't figure out that my review of those things put us where we are today.

Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate. Did you notice I said "as I serve you"? Why are you bothering me now? Do you call this serving you?

Sincerely, (yeah! sincerely sorry you pesky voters woke up. I should've listened to Lamar when he said ignore you and you'll go away. I'm going to find out which staffer started replying to you guys and can their butt.)

Bob Corker

United States Senator at least for now:nervous: