Bill gathering momentum in Congress to crack open Fed secrecy - Bernanke angered.

Discussion in 'Economics' started by wilburbear, May 23, 2009.

  1. May 22, 2009

    It looks like the Federal Reserve may finally have something to worry about now that HR 1207 is finally gaining serious steam. If enacted, HR 1207 will amend title 31 of the United States Code and reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States.

    Rep. Ron Paul introduced H.R. 1207, the Federal Reserve Transparency Act of 2009, on February 26, 2009. HR 1207 was sponsored and introduced by Rep. Ron Paul. On February 26, 2009, it was referred to the House Committee on Financial Services. It now has 179 co-sponsors (see the list of sponsors below). If passed, the bill will force the Fed to give a public accounting of the trillions of taxpayer “loans” handed over to the banksters. It will force Congress to audit the Fed and this will force out into the light of day the Fed practice of inflating the currency for the gain of a small number of international bankers. It will reveal the bankster practice of engineering financial crises and depressions — or scientifically created, as Congressman Charles A. Lindberg Sr. said after the Federal Reserve Act was passed in the dead of night — in order to consolidate illicit gains and eliminate competition (as the bankers are monopoly men).

    On March 25, 2009, H.R. 1207 had 44 co-sponsors. “We’re making great progress because a lot of you have helped encourage your member of Congress to co-sponsor the bill,” Ron Paul said. “And to me, this is very, very important that we do this. The atmosphere in the Congress has definitely changed. It’s changed with their attitude about the Federal Reserve System, but overall there’s a tremendous push by the American people for the Congress to wake up and have more transparency… I have argued, of course, that we don’t need the Federal Reserve. It’s not part of our constitution and we should get rid of it, but it doesn’t happen that way. But if we get the audit and get the books open, make them answer the questions, I am convinced that the American people will be so outraged that then we will have reform of the monetary system.”
    Imagine Ben Bernanke, shorn of his arrogance, dragged before Congress and compelled to answer questions. In the not too distant past, this prospect was a remote dream, but now, thanks to Ron Paul and all the people who have insisted their representatives support this bill, it may become law.

    Ron Paul gives an update on HR 1207 on April 27, 2009
    Here is the list of co-sponsors as of May 22, 2009:
    Rep Kagen, Steve [WI-8] - 2/26/2009
    Rep Bachmann, Michele [MN-6] - 2/26/2009
    Rep Bartlett, Roscoe G. [MD-6] - 2/26/2009
    Rep Jones, Walter B., Jr. [NC-3] - 2/26/2009
    Rep Rehberg, Denny [MT] - 2/26/2009
    Rep Posey, Bill [FL-15] - 2/26/2009
    Rep Broun, Paul C. [GA-10] - 2/26/2009
    Rep Poe, Ted [TX-2] - 2/26/2009
    Rep Burton, Dan [IN-5] - 2/26/2009
    Rep Abercrombie, Neil [HI-1] - 2/26/2009
    Rep Woolsey, Lynn C. [CA-6] - 2/26/2009
    Rep Garrett, Scott [NJ-5] - 3/5/2009
    Rep Chaffetz, Jason [UT-3] - 3/6/2009
    Rep Kingston, Jack [GA-1] - 3/6/2009
    Rep Young, Don [AK] - 3/6/2009
    Rep Rohrabacher, Dana [CA-46] - 3/6/2009
    Rep Stearns, Cliff [FL-6] - 3/6/2009
    Rep McClintock, Tom [CA-4] - 3/6/2009
    Rep Heller, Dean [NV-2] - 3/6/2009
    Rep Duncan, John J., Jr. [TN-2] - 3/6/2009
    Rep Taylor, Gene [MS-4] - 3/6/2009
    Rep DeFazio, Peter A. [OR-4] - 3/9/2009
    Rep Alexander, Rodney [LA-5] - 3/10/2009
    Rep Price, Tom [GA-6] - 3/10/2009
    Rep Petri, Thomas E. [WI-6] - 3/10/2009
    Rep Foxx, Virginia [NC-5] - 3/10/2009
    Rep Grayson, Alan [FL-8] - 3/11/2009
    Rep Marchant, Kenny [TX-24] - 3/11/2009
    Rep Wamp, Zach [TN-3] - 3/16/2009
    Rep Blackburn, Marsha [TN-7] - 3/16/2009
    Rep Buchanan, Vern [FL-13] - 3/17/2009
    Rep Castle, Michael N. [DE] - 3/17/2009
    Rep Fleming, John [LA-4] - 3/18/2009
    Rep Akin, W. Todd [MO-2] - 3/19/2009
    Rep Platts, Todd Russell [PA-19] - 3/19/2009
    Rep Peterson, Collin C. [MN-7] - 3/19/2009
    Rep McCotter, Thaddeus G. [MI-11] - 3/19/2009
    Rep Lummis, Cynthia M. [WY] - 3/19/2009
    Rep Burgess, Michael C. [TX-26] - 3/19/2009
    Rep Sessions, Pete [TX-32] - 3/23/2009
    Rep Deal, Nathan [GA-9] - 3/23/2009
    Rep Franks, Trent [AZ-2] - 3/23/2009
    Rep Miller, Jeff [FL-1] - 3/24/2009
    Rep Blunt, Roy [MO-7] - 3/24/2009
    Rep Stark, Fortney Pete [CA-13] - 3/26/2009
    Rep Culberson, John Abney [TX-7] - 3/26/2009
    Rep Paulsen, Erik [MN-3] - 3/30/2009
    Rep Gingrey, Phil [GA-11] - 3/30/2009
    Rep Terry, Lee [NE-2] - 3/30/2009
    Rep Carter, John R. [TX-31] - 3/31/2009
    Rep Capito, Shelley Moore [WV-2] - 4/1/2009
    Rep Wittman, Robert J. [VA-1] - 4/1/2009
    Rep Fallin, Mary [OK-5] - 4/2/2009
    Rep Smith, Lamar [TX-21] - 4/2/2009
    Rep Westmoreland, Lynn A. [GA-3] - 4/2/2009
    Rep Lucas, Frank D. [OK-3] - 4/21/2009
    Rep Lamborn, Doug [CO-5] - 4/21/2009
    Rep Ehlers, Vernon J. [MI-3] - 4/21/2009
    Rep Bilbray, Brian P. [CA-50] - 4/21/2009
    Rep Pence, Mike [IN-6] - 4/21/2009
    Rep Manzullo, Donald A. [IL-16] - 4/21/2009
    Rep McCaul, Michael T. [TX-10] - 4/21/2009
    Rep Cole, Tom [OK-4] - 4/21/2009
    Rep Roe, David P. [TN-1] - 4/21/2009
    Rep Herger, Wally [CA-2] - 4/21/2009
    Rep Bishop, Rob [UT-1] - 4/21/2009
    Rep Baldwin, Tammy [WI-2] - 4/21/2009
    Rep Olson, Pete [TX-22] - 4/21/2009
    Rep Latham, Tom [IA-4] - 4/21/2009
    Rep Luetkemeyer, Blaine [MO-9] - 4/21/2009
    Rep Doggett, Lloyd [TX-25] - 4/21/2009
    Rep Rooney, Thomas J. [FL-16] - 4/22/2009
    Rep Massa, Eric J. J. [NY-29] - 4/22/2009
    Rep Johnson, Sam [TX-3] - 4/22/2009
    Rep Thompson, Glenn [PA-5] - 4/22/2009
    Rep Brady, Kevin [TX-8] - 4/22/2009
    Rep Smith, Adam [WA-9] - 4/22/2009
    Rep Shimkus, John [IL-19] - 4/22/2009
    Rep Graves, Sam [MO-6] - 4/22/2009
    Rep Jenkins, Lynn [KS-2] - 4/23/2009
    Rep Gohmert, Louie [TX-1] - 4/23/2009
    Rep Inglis, Bob [SC-4] - 4/23/2009
    Rep Kaptur, Marcy [OH-9] - 4/23/2009
    Rep Johnson, Timothy V. [IL-15] - 4/23/2009
    Rep Brown, Henry E., Jr. [SC-1] - 4/28/2009
    Rep Biggert, Judy [IL-13] - 4/28/2009
    Rep Pitts, Joseph R. [PA-16] - 4/28/2009
    Rep Tiahrt, Todd [KS-4] - 4/28/2009
    Rep Myrick, Sue Wilkins [NC-9] - 4/28/2009
    Rep Putnam, Adam H. [FL-12] - 4/28/2009
    Rep LaTourette, Steven C. [OH-14] - 4/28/2009
    Rep Tiberi, Patrick J. [OH-12] - 4/28/2009
    Rep Ros-Lehtinen, Ileana [FL-18] - 4/28/2009
    Rep Hoekstra, Peter [MI-2] - 4/28/2009
    Rep Miller, Candice S. [MI-10] - 4/28/2009
    Rep Granger, Kay [TX-12] - 4/28/2009
    Rep Simpson, Michael K. [ID-2] - 4/28/2009
    Rep Barrett, J. Gresham [SC-3] - 4/28/2009
    Rep Goodlatte, Bob [VA-6] - 4/28/2009
    Rep Smith, Adrian [NE-3] - 4/28/2009
    Rep Wilson, Joe [SC-2] - 4/29/2009
    Rep Hall, Ralph M. [TX-4] - 4/29/2009
    Rep Kline, John [MN-2] - 4/29/2009
    Rep Bono Mack, Mary [CA-45] - 4/29/2009
    Rep Murphy, Tim [PA-18] - 4/29/2009
    Rep Calvert, Ken [CA-44] - 4/29/2009
    Rep McDermott, Jim [WA-7] - 4/29/2009
    Rep Upton, Fred [MI-6] - 4/29/2009
    Rep Bachus, Spencer [AL-6] - 4/29/2009
    Rep Buyer, Steve [IN-4] - 4/30/2009
    Rep Neugebauer, Randy [TX-19] - 4/30/2009
    Rep McHenry, Patrick T. [NC-10] - 4/30/2009
    Rep McCarthy, Kevin [CA-22] - 5/4/2009
    Rep Barton, Joe [TX-6] - 5/4/2009
    Rep Hensarling, Jeb [TX-5] - 5/4/2009
    Rep McMorris Rodgers, Cathy [WA-5] - 5/4/2009
    Rep Bilirakis, Gus M. [FL-9] - 5/4/2009
    Rep Moran, Jerry [KS-1] - 5/4/2009
    Rep Cassidy, Bill [LA-6] - 5/4/2009
    Rep Walden, Greg [OR-2] - 5/4/2009
    Rep Crenshaw, Ander [FL-4] - 5/4/2009
    Rep Campbell, John [CA-48] - 5/4/2009
    Rep LoBiondo, Frank A. [NJ-2] - 5/4/2009
    Rep McHugh, John M. [NY-23] - 5/4/2009
    Rep Schakowsky, Janice D. [IL-9] - 5/6/2009
    Rep Linder, John [GA-7] - 5/6/2009
    Rep Aderholt, Robert B. [AL-4] - 5/6/2009
    Rep Davis, Geoff [KY-4] - 5/6/2009
    Rep Dent, Charles W. [PA-15] - 5/6/2009
    Rep Radanovich, George [CA-19] - 5/6/2009
    Rep Schock, Aaron [IL-18] - 5/6/2009
    Rep Herseth Sandlin, Stephanie [SD] - 5/6/2009
    Rep Austria, Steve [OH-7] - 5/6/2009
    Rep Adler, John H. [NJ-3] - 5/6/2009
    Rep Sensenbrenner, F. James, Jr. [WI-5] - 5/7/2009
    Rep Lungren, Daniel E. [CA-3] - 5/7/2009
    Rep Walz, Timothy J. [MN-1] - 5/7/2009
    Rep Shuster, Bill [PA-9] - 5/7/2009
    Rep Michaud, Michael H. [ME-2] - 5/7/2009
    Rep Conaway, K. Michael [TX-11] - 5/7/2009
    Rep Shadegg, John B. [AZ-3] - 5/7/2009
    Rep Boozman, John [AR-3] - 5/7/2009
    Rep Guthrie, Brett [KY-2] - 5/7/2009
    Rep Flake, Jeff [AZ-6] - 5/11/2009
    Rep Hastings, Doc [WA-4] - 5/11/2009
    Rep Lance, Leonard [NJ-7] - 5/11/2009
    Rep Gerlach, Jim [PA-6] - 5/11/2009
    Rep Harper, Gregg [MS-3] - 5/11/2009
    Rep Hare, Phil [IL-17] - 5/11/2009
    Rep Royce, Edward R. [CA-40] - 5/12/2009
    Rep Fortenberry, Jeff [NE-1] - 5/12/2009
    Rep Mack, Connie [FL-14] - 5/12/2009
    Rep Barrow, John [GA-12] - 5/12/2009
    Rep Mica, John L. [FL-7] - 5/12/2009
    Rep Maffei, Daniel B. [NY-25] - 5/12/2009
    Rep Inslee, Jay [WA-1] - 5/12/2009
    Rep Rogers, Mike D. [AL-3] - 5/13/2009
    Rep Minnick, Walter [ID-1] - 5/13/2009
    Rep Boustany, Charles W., Jr. [LA-7] - 5/13/2009
    Rep Turner, Michael R. [OH-3] - 5/13/2009
    Rep Hunter, Duncan D. [CA-52] - 5/13/2009
    Rep Perriello, Thomas S.P. [VA-5] - 5/13/2009
    Rep Ortiz, Solomon P. [TX-27] - 5/14/2009
    Rep Ryan, Paul [WI-1] - 5/14/2009
    Rep Whitfield, Ed [KY-1] - 5/14/2009
    Rep Pastor, Ed [AZ-4] - 5/20/2009
    Rep Brown-Waite, Ginny [FL-5] - 5/20/2009
    Rep Altmire, Jason [PA-4] - 5/20/2009
    Rep Latta, Robert E. [OH-5] - 5/20/2009
    Rep Reichert, David G. [WA-8] - 5/20/2009
    Rep Rogers, Mike J. [MI-8] - 5/20/2009
    Rep Berry, Marion [AR-1] - 5/20/2009
    Rep Schauer, Mark H. [MI-7] - 5/20/2009
    Rep Scalise, Steve [LA-1] - 5/20/2009
    Rep Forbes, J. Randy [VA-4] - 5/20/2009
    Rep Ross, Mike [AR-4] - 5/21/2009
    Rep Berkley, Shelley [NV-1] - 5/21/2009
    Rep Welch, Peter [VT] - 5/21/2009
    Rep Thornberry, Mac [TX-13] - 5/21/2009
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  2. Jim Rogers said on British television that the dollar was a currency facing total collaspe and that the FED will cease to exist within 10 yrs.

    I would have to agree. This is the biggest theft is world history and the unchecked greed has exposed the Wall Street Elite that works with the FED and pays off the GOV. to look the otherway.

    It is obvious to anyoine that is a decent economist that our country was hijacked in 1913 through the Federal Reserve Act.

    The dollar will collaspe in value as Inflation ramps up out of control, since the world has virtually stopped buying our worthless Treasuries.

    The yield on the long term treasuries is 60% higher than last Dec. i.e. the debt is becomong more and more expensive to service as the rest of the world percieves us as a higher and higher risk of default on the treasury notes as the debt mushrooms out of control.

    GS program trading can't prop up the market forever and many now see through the propaganda that Wall Street uses to try and fluff up a very desperate situation.

    We will retest the lows and breach them IMO. I would say that DOW 4880 is not out of the question. Any one claiming a bottom is in is a idiot. Option ARM's will continue to spike in number all the way to 2012. Get a clue the balance sheets are much worse than in 1929 for the corps and the gov. In 1929 we where a net lending nation, now we are the biggest debtor nation on Earth.

    The Dow will collaspe again and there is nothing that Wall Steet or the FED can do about it. Finally a little payback for 90+ years of deciet and theft. I support the bill! Enjoy!:)
  3. As much as I support this, it will never be allowed. There's too much at stake.
  4. Hope you're wrong.
  5. pspr


  6. I'd also love this, but doubt it will ever happen. Not to mention that even if it passes Congress, the Senate will never let it go and even if they did, Obama would veto it.

    No chance.