Sunday, August 2, 2009

Why Is Barney Frank Stalling Ron Paul's Audit the Fed Bill?

Ron Paul's HR 1207 has 278 House co-sponsors. A House Bill only needs 218 votes to pass a House vote. How come Barney Frank will not let HR 1207 out of the House Financial Services Committee, of which he is the Chairperson, and go before a vote of the whole House of Representatives?

I would like to point out that, for those who do not know, the Fed has hired a full staff of lobbyists, headed by Linda Robertson, who was the chief lobbyist for Enron. I find incredible irony in this move, given that Enron turned out to be one big fraud. Is the Federal Reserve one big fraud? There's no question whatsoever the Fed is spending millions on lobbying and public relations in order to try and squash the movement for an audit of the Fed.

Gary North, well-known as a free market, Austrian economics advocate, has written a superb analysis about why Barney Frank is sitting on this HR 1207 and why Bernanke will fight for his public life in order to prevent legislation which requires an independent, non-partisan and public audit of the Fed. The Fed, after all, as pointed out in his essay, has usurped control over the money supply in this country, in direct violation of the Constitution. Here is a link to his article:

Gary North has not touched upon the fact that an audit of the Fed would expose the extent to which the Fed is completely monetizing the biggest banks, using AIG as its conduit. In addition, an audit would expose the extent to which the Fed is using the money it is printing to manipulate and prop up the stock and bond markets. AND, most significantly in my view, an audit would expose the extent of which the Fed is trying to keep a lid on the price of gold - which de facto supports the Fed's intervention in the U.S. dollar - and the degree to which the Fed has leased out most of the gold that is supposed to be owned and held in custody IN THE UNITED STATES on behalf of the citizens of this country.

I would urge everyone to please email the House Financial Services Committee and let them know you want them to get HR 1207 moved from Committee to vote on the House Floor. This link will send your email to every Democratic member of the Committee:

Please send an email to your own House Rep also:

The Federal Reserve has quietly and insidiously usurped and transferred economic and political power from the citizens to the biggest banks. This needs to stop.

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