HR 1207 - Audit the Fed

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Ron Paul has introduced H.R.1207: Federal Reserve Transparency Act of 2009 to Congress and it’s been referred to the House Committee on Financial Services.  According to Campaign for Liberty, “The Fed has so far resisted attempts to provide information on how it is spending the bailout money and currently dictates how accountable it will be to Congress.  Since its creation in 1913, the Fed’s control of money and credit in this country has resulted in a 95% devaluation of our dollar and the piling up, just in the last year, of almost $10 trillion in bailouts and loans.”

You can read the whole bill in less than five minutes!  Unlike the stimulus and omnibus, this one is short and doesn’t include any pork!

The Campaign for Liberty has a series of links on sound money for an alternative to the Federal Reserve System that can be found here.  George Selgin at West Virginia University has a podcast with Russ Roberts at George Mason University about free banking that can be found here.

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Last Updated 6/9/09

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House
HR 1207 (pdf) (2009-10)
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.

Contact your Representative today and ask them to sponsor this bill.

Senate
SB 604 (pdf) (2009-10)
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.

Contact your Senator today and ask them to sponsor this bill.

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