Ron Paul: Audit Fed 'gutted' in committee

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ON CAPITOL HILL
Ron Paul: Audit Fed 'gutted' in committee
Bank-connected congressman blamed for undermining bill
Posted: October 31, 2009
6:15 pm Eastern




WND ON CAPITOL HILL
Ron Paul: Audit Fed 'gutted' in committee
Bank-connected congressman blamed for undermining bill
Posted: October 31, 2009
6:15 pm Eastern

By Drew Zahn
© 2009 WorldNetDaily


U.S. Rep. Ron Paul, R-Texas

Rep. Ron Paul, R-Texas, has complained that the bill he sponsored calling for an audit of the Federal Reserve has been "gutted" by congressional committee, pointing specifically to a legislator whose campaign coffers have been boosted by the banking industry.

As WND reported, Paul sponsored H.R. 1207, a bill requiring the Federal Reserve – an organization that's independent from the U.S. government but nonetheless oversees U.S. monetary policy – be opened to oversight by Congress. The plan compiled over 300 co-sponsors in the House before being sent to committee.

But in a telephone interview with a Bloomberg reporter, Paul said the teeth have been ripped out of the bill.

"There's nothing left; it's been gutted," Paul said. "This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that."

Paul told Bloomberg the bill has been stripped of provisions that closed loopholes protecting the Fed, including exemption from audits of transactions with foreign central banks and protected communications between the Board, reserve banks and staff.

Demand the money managers come clean by signing the petition in support of an audit of the Federal Reserve now!

Paul blamed the chairman of the House Financial Service Committee's panel on domestic monetary policy, Rep. Mel Watt, D-N.C., for eliminating "just about everything" in preparation for the bill's consideration on the floor of the House.

Watt, is has also been revealed, has significant connections to the banking industry.

This is another indication that the banks control the key congressional members, and that congress is on the take with the banks and the Fed.
How much more will Americans put up with, when it comes to Congress and their masters, the banking industry.

I just knew it was to good to be true. Audit the fed,they have to many hands in too many pockets. It looks like we all need to write this N.C. Representative and call him out publicly.

Let them all expose their wicked deeds. I am amazed at how easy it is to get evil to raise it's ugly head. They do it when people start questioning and demanding. When people become empowered and have their own opinion, evil cannot hide. Even if defeated, Ron Paul has created a formula for exposing corruption. Attempt to change something for the betterment of all, and watch who steps in to block it.

reply to post by ProfEmeritus


Funny how this didn't get any more responses than it did. My, my how ATS's attention span is so short.

Anyway, I just want to say that to all ATS'ers who say that predictions never come true... I predicted this outcome back in February. So there! I spent a half an hour trying to find my prediction of this but gave up. Doesn't matter anyway.

Seriously, I never had real expectations of this wonderful bill ever passing with real teeth... so sad.

reply to post by Iamonlyhuman

Funny how this didn't get any more responses than it did. My, my how ATS's attention span is so short.

You're right. A few months ago, everyone seemed to be interested in the Fed audit. Now look at the lack of posts.
You're right. I think there are a lot of members with a very short attention span.

I think we all expected to see this bill get neutered. It's just getting old.

We have so few in Washington who are actually out for the people and it shows. Nobody seems to want to vote them out either.

Really is sad that try as many of us do, the majority of people don't care.

It's not that people don't care or have a short attention span. It's that once you've covered the ground, what's left to say? After a certain point time must pass and things must happen before it's worthy to be written about again.

We all pretty much knew the bill would be gutted, because they always are. Anyone who thought otherwise was sadly delusional. An honest audit of the Fed would most likely uncover massive fraud and other criminal activity, and would damage the power bases of the Eastern banking establishment, so none will be allowed.

The only cure I see lies in electing people from outside the current power elites, but that is highly unlikely to occur, or to occur in time. So we'll continue to stumble from one crisis to another as they play keepaway with the info, until the juggling becomes impossible to maintain, and the whole thing collapses catastrophically.

My best guess is sometime this fall or winter.

Isn't there a clause where America can buy back the Fed? If we did that we could do a forensic audit.

reply to post by ..5..

Isn't there a clause where America can buy back the Fed?

Yes, it is my understanding that we can buy back the FED at any time for $450 Million dollars.

The U.S. Government can buy back the FED at any time for $450 million (per Congressional record). The U.S. Treasury could then collect all the profit on our money instead of the 300 original shareholders of the FED. The $4 trillion of U.S. debt could be exchanged dollar for dollar with U.S. non- interest bearing currency when the debt becomes due. There would be no inflation because there would be no additional currency in circulation. Personal income tax could be cut if we bought back the FED and therefore, the economy would expand. According to the Constitution, Congress is to control the creation of money, keeping the amount of inflation or deflation in check

www.apfn.org...

This makes me sick, although it is exactly what I expected would happen. There is NO WAY the Fed will ever be audited. No matter what it takes, the Fed will grease any palms they need to grease to make sure no one ever gets a look at the books.

The scum bag Congress is much more interested in filling their bank accounts with ill gotten gains than the people they allegedly represent.

What a bunch of morons! Corrupt to the core morons!

reply to post by inthesticks

There is NO WAY the Fed will ever be audited.

You're right. Even if most of the members of Congress want it audited, it will not happen. The FED bought off the committee head that was in charge of Ron Paul's bill, and gutted it to pieces, before letting it on the floor.
This government is as corrupt as the government of Afghanistan.

ill continue to do my part in an attempt to get this bill passed(not that there is much i can do) however im fully aware, that i do not believe it is possible. i think the fed is way to powerful. even if the bill was passed how it should be, i still dont see the fed doing there part. they are to big, and i feel to put them in there place, which is out on the street... is going to take much more then words

reply to post by srslyguyz

ill continue to do my part in an attempt to get this bill passed(not that there is much i can do) however im fully aware, that i do not believe it is possible. i think the fed is way to powerful.

They are too powerful. Only when the American people finally realize that en masse and take matters into their own hands will things change.
Ron Paul has been right about 95% of the time, and he has been successfully marginalized by the PTB.

While I was keeping my fingers crossed I too saw this happening. The FED has too many people in their pocket including the current President to ever allow such a bill to pass in its original form.

Bill Clinton looted the gold reserves of the fed and the democrats will never let a audit find that out.
www.kitcomm.com...
fofoa.blogspot.com...

No one has done a complete audit of the gold in Fort Knox for 50 years.

There have been counts done but now with the gold plated tungsten bars showing up that would have showed up a real gold during a count who can trust those counts.