HR 1207 Federal Reserve Transparency Act of 2009: Audit The Fed

L

Lamarr

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so who's down? 148 co-sponsors so far! Is your Rep. on the list, if not, Why?

http://www.govtrack.us/congress/bill.xpd?bill=h111-1207

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.








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Why do I know this is going nowhere?

Or,

they'll add so many stipulations and riders that it becomes toothless.
 
Watch as Bernanke refuses Congressional inquiry about the dough!

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its a damn shame...us as the true heads of govt need to take back whats ours....our country. before these greedy bankers run us all out of here
 
Lamarr said:
Watch as Bernanke refuses Congressional inquiry about the dough!

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You’re quoting Senator Sanders? Isn't he a socialist?
 
thoughtone said:
You’re quoting Senator Sanders? Isn't he a socialist?
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I know but the issue goes across party lines. Everytime the Fed prints more money, it devalues the money in your pocket. "W" said Wall Street got a lil drunk! Well, the Fed was pouring the liquor, in terms of easy credit and cheap money. Get wit the program Thought, the co-sponsors on this bill reach across party lines. Lets see who is working for the people and who is working for Wall Street!

Didn't Barack promise transparency in the financial community?
 
Lamarr said:
I know but the issue goes across party lines. Everytime the Fed prints more money, it devalues the money in your pocket. "W" said Wall Street got a lil drunk! Well, the Fed was pouring the liquor, in terms of easy credit and cheap money. Get wit the program Thought, the co-sponsors on this bill reach across party lines. Lets see who is working for the people and who is working for Wall Street!

Didn't Barack promise transparency in the financial community?
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EXACTLY!

Your side is always throwing out the communist and socialist label. The fact is that business interests are right wing and lean fascist. Government is the people and through are representatives, check the moneyed interests in private life. It is up to the people to elect the representatives and continually police them. Private interests are constantly fighting to lessen their government oversight. I don’t believe Obama is so entrenched in ideology like GW was and can be swayed by the people. That is why I am not happy the way he is dealing with the whole banking thing, but believe with the backing of the liberal representatives, things will change.
 
thoughtone said:
EXACTLY!

Private interests are constantly fighting to lessen their government oversight. I don’t believe Obama is so entrenched in ideology like GW was and can be swayed by the people. That is why I am not happy the way he is dealing with the whole banking thing, but believe with the backing of the liberal representatives, things will change.
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Thing is: if our leadership, of elected officials (D or R), doesn't demand transparency, we get an understanding of who is really calling the shots. The Federal Reserve is a seperate, independent agency. Partisanship aside, Don't you think taxpayers have a right to know how their money is being allocated?
 
Lamarr said:
Thing is: if our leadership, of elected officials (D or R), doesn't demand transparency, we get an understanding of who is really calling the shots. The Federal Reserve is a seperate, independent agency. Partisanship aside, Don't you think taxpayers have a right to know how their money is being allocated?
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Exactly man. Dudes show allegiance to sides man. It's really sad. Nothing the government does is bad, now that Barry's "in charge". Even shit that's ALWAYS been criminal, like the Federal Reserve.
 
Lamarr said:
Thing is: if our leadership, of elected officials (D or R), doesn't demand transparency, we get an understanding of who is really calling the shots. The Federal Reserve is a seperate, independent agency. Partisanship aside, Don't you think taxpayers have a right to know how their money is being allocated?
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What kind of dumb question is that. My question is, where were your posts demanding transparency during the last adminstration?
 
thoughtone said:
What kind of dumb question is that. My question is, where were your posts demanding transparency during the last adminstration?
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So, what are you saying T.O., that Lamarr really isn't non-partisan, as he implies? - that he has suddenly gotten economic religion (demanding transparency now, but not before)? - that his "FedRes" soapbox cleverly disquises something else, for example, his disgust of Barack Obama? What ???

QueEx
 
thoughtone said:
What kind of dumb question is that. My question is, where were your posts demanding transparency during the last adminstration?
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I was busy gettin kicked off Hannity's board, twice :D
I just found this forum recently but believe me, I had plenty to say about the last admin.
 
QueEx said:
So, what are you saying T.O., that Lamarr really isn't non-partisan, as he implies? - that he has suddenly gotten economic religion (demanding transparency now, but not before)? - that his "FedRes" soapbox cleverly disquises something else, for example, his disgust of Barack Obama? What ???

QueEx
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Que, thats a cheap shot but if there is disappointment, its because he voted with Bush on the Patriot Act (2006), FISA, Warrantless Wiretapping & the Banker Takeover Bill. I just didn't agree with the votes, Did you?

The FedRes issue IS non-partisan. When the Fed creates money, it hurts the poor, and people on fixed & retired incomes. Barack would make us all proud if he demanded transparency in the financial sector. So all you people who are Pro-Regulation, let's start with the money supply.

:eek: Thought, I don't get any marching orders from Hannity, if anything, it teaches me to think for myself. You ever notice the cats on CNN, BSNBC & Fox talk about everything, except the Fed?
 
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Lamarr said:
Que, thats a cheap shot but if there is disappointment, its because he voted with Bush on the Patriot Act (2006), FISA, Warrantless Wiretapping & the Banker Takeover Bill. I just didn't agree with the votes, Did you?

The FedRes issue IS non-partisan. When the Fed creates money, it hurts the poor, and people on fixed & retired incomes. Barack would make us all proud if he demanded transparency in the financial sector. So all you people who are Pro-Regulation, let's start with the money supply.

:eek: Thought, I don't get any marching orders from Hannity, if anything, it teaches me to think for myself. You ever notice the cats on CNN, BSNBC & Fox talk about everything, except the Fed?
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And you actually think I agree with those votes. Search my tag name in the politics board and you will see I have chronicled Obama's positions on various issues even before he was elected president. Some accused me of being anti Obama and pro Clinton to straddling the fence. My take is that I am damn sure where the cons and neo-cons are coming from. I think that, although I'm not getting 100% of what I want from Obama, I think he can be swayed. And considering what his main objective is, a major overhaul of the health care system, he is playing the political game rather well.
 
Thought, I was wondering where the Dems from GA were! The count is now at 152 co-sponsors, 218 will pass the bill. Thank you John Barrow!

John Barrow (GA-12) first Democrat from GA to co-sponsor HR1207!

Here is the email that's been going around to everyone in the district that's been in contact with John Barrow, as he's now supporting HR1207!

This is John Barrow. Thanks for your e-mail in support of H.R. 1207, the Federal Reserve Transparency Act of 2009. I've always supported transparency and accountability in government, and that's why I'm proud to cosponsor H.R. 1207, which will allow for more audits of the Federal Reserve and will direct the Comptroller General to conduct an audit of the Federal Reserve and report its findings to Congress next year. The bill will also allow Members of Congress and the public to be better informed about the work the Federal Reserve does and will help us to see any problems that need to be addressed. If you have any further questions please contact my Legislative Correspondent, Chris Baggett. Feel free to call him at 1-202-225-2823, anytime between 9 in the morning and 6 in the evening. We hope to talk with you soon.
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Thanks again-

--John

Congressman John Barrow
213 Cannon House Building
Washington, DC
202-225-2823

Please note also: John Barrow is part of the Blue Dog Coalition, a group of conservative Democrats in Congress. Hopefully this will set in motion a series of co-sponsorships from this group, notably the other three Blue Dogs in Georgia.
 
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The count is now 162, getting closer. Call your Rep, I called Barney Frank yesterday, twice :D Add these names:

Rep Edward R. Royce (D-CA)
Rep Connie Mack (R-FL)
Rep John L. Mica (R-FL)
Rep Jay Inslee (D-WA)
Rep Mike D. Rogers (R-AL)
Rep Charles W. Boustany (R-LA)
Rep Duncan Hunter (R-CA)
Rep Walter Minnick (D-ID) and also on the Financial services committee
Rep Michael Turner (R-OH)
Rep Thomas S.P. Perriello (D-VA)

http://www.scribd.com/doc/15095120/...arency-Act-of-2009-Cosponsors-162-as-of-51309
 
I'm developing the opinion, that if this bill passed, it wouldn't make any difference.

The issues, exchanges, and practices are so complex, the average Joe wouldn't care anyway.

The audit report would be covered in the press for a few days and forgotten.

Nothing would change.

Now, if it said "ABOLISH the Fed..."
 
Cruise said:
I'm developing the opinion, that if this bill passed, it wouldn't make any difference.

The issues, exchanges, and practices are so complex, the average Joe wouldn't care anyway.

The audit report would be covered in the press for a few days and forgotten.

Nothing would change.

Now, if it said "ABOLISH the Fed..."
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I think it's making a difference because more people are talking about it. I feel somewhat helpless as well, but we can't just give up, thinkin everything is gonna be OK! Honestly, people need to be in jail. People need to do is connect the dots and understand their money is worth less each time Fed Reserve Notes are printed.

The issues and practices are designed to be complex but its only done to confuse people. Their game needs to be exposed.

ok, the press may cover it for a couple days :smh:

An audit is the beginning to the 'change' that is needed.

Abolish the Fed? Replace it with what? That is a tricky demand cause the "wrong" politician could make it more jacked up than it already is. www.themoneymasters.com had a 2-step solution that made a lot of sense.
 
Lamarr said:
I think it's making a difference because more people are talking about it. I feel somewhat helpless as well, but we can't just give up, thinkin everything is gonna be OK! Honestly, people need to be in jail. People need to do is connect the dots and understand their money is worth less each time Fed Reserve Notes are printed.

The issues and practices are designed to be complex but its only done to confuse people. Their game needs to be exposed.

ok, the press may cover it for a couple days :smh:

An audit is the beginning to the 'change' that is needed.

Abolish the Fed? Replace it with what? That is a tricky demand cause the "wrong" politician could make it more jacked up than it already is. www.themoneymasters.com had a 2-step solution that made a lot of sense.
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You don't replace it with anything, if you want to avoid World Wars and Great Depressions.

There is competition everywhere except the monetary system.

Why can't this country have a return to a competitive banking system?

Have state-chartered banks issue their own money.
Use a gold-silver money system. It worked great for thousands of years.
Allow local currencies.
Develop competing electronic credit systems.
Create local/regional/national/international currency exchanges without the overlap you get with the central bank system (Fed).

This means the IRS would be destroyed too.

There are so many ways to improve things, but none of that can happen as long as the Fed/IMF, central banking system exists.
 
The count is now at 179 co-sponsors! Where is the Democratic leadership, Pelosi, Frank? Clearly a non-partisan issue, stop protecting the banksters! Welcome 2 the newest co-sponsors,

Rep Mike Ross [D-AR]
Rep Shelley Berkley [D-NV] WOW, Double WOW!
Rep Peter Welch [D-VT]
Rep Mac Thornberry [R-TX]



http://www.opencongress.org/bill/111-h1207/show
 
This bill should have bipartisan support, it is truly needed. The Fed has too much control over our money supply. The United States of America should be in control of its own currency, not a Central Bank. Our current debt system is what landed us in this situation of DEBT. You can't pay off debt by creating more debt, each dollar that is created is done so with a pre-established debt which must be paid back eventually, and the only thing we do simply is create even more debt. It is an insane system which never should've been enabled.

It may be hard to do, but so is crack to addicts, which we have been since the 1920s. We are in freefall, the dollar devalued to the point where toilet paper is better to barter with, and the only thing we could do since we had no oversight on them is ask questions which are not being answered by our government.
 
Cruise said:
Have state-chartered banks issue their own money.
Use a gold-silver money system. It worked great for thousands of years.
Allow local currencies.
Develop competing electronic credit systems.
Create local/regional/national/international currency exchanges without the overlap you get with the central bank system (Fed).

This means the IRS would be destroyed too.

There are so many ways to improve things, but none of that can happen as long as the Fed/IMF, central banking system exists.
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you make too much sense! :D but our friends in DC need to take baby steps
 
186 Cosponsors to HR 1207 - Audit the Fed

http://www.opencongress.org/bill/111-h1207/show

The Latest cosponsors, two dems, two Reps
Rep Young, C.W. Bill [FL-10] - 6/3/2009 (R)
Rep Grijalva, Raul M. [AZ-7] - 6/3/2009 (D)
Rep Frelinghuysen, Rodney P. [NJ-11] - 6/3/2009 (R)
Rep Halvorson, Deborah L. [IL-11] - 6/3/2009 (D)

218 needed for a majority in the House, Let's WORK THE PHONES!
 
It won't pass the Senate

Sen. Bernard Sanders (I<--democratic socialist:devil:) introduced two bills in the senate:

S. 513:Federal Reserve Transparency Act (2 cosponsors)
S. 604:Federal Reserve Sunshine Act of 2009 (0 cosponsors)
 
Cipha said:
It won't pass the Senate
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Yes We Can!!! Those cats work for the people! The people want real "change". Recent additions include a lot of Dems: Thoughtone, thanx 4 callin' Hank Johnson and voicing your opinion regarding Transparency :D I got Dina Titus on speed dial!!! (702) 256-3462 The count is 207!

Rep. Paul Tonko (D-NY)
Rep. Jo Bonner (R-AL)
Rep. Leonard Boswell (D-IA)
Rep. Carol Shea-Porter (D-NH)
Rep. Bill Pascrell (D-NJ)
Rep. Christopher Carney (D-PA)
Rep. Travis Childers (D-MS)*
Rep. Hank Johnson (D-GA)
Rep. Harry Mitchell (D-AZ)
Rep. Patrick Murphy (D-PA)
Rep. David Dreier (R-CA)
Rep. Steve King (R-IA)
Rep. John Boehner (R-OH)**
Rep. Ed Perlmutter (D-CO)*
Rep. Chris Lee (R-NY)*
Rep. Mike McIntyre (D-NC)
Rep. Jim McGovern (D-MA)
 
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Fed Would Be Shut Down If It Were Audited, Expert Says

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The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC.

With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.

"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized."

Grant said he would support legislation currently making its way through Congress calling for an audit of the Fed.

Moreover, he criticized the way the Fed has managed the financial crisis, saying the central bank's target rate should not be around zero.

http://www.cnbc.com/id/31204170
 
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I wanted to make sure you were the first to know that your hard work and dedication has resulted in Ron Paul's Audit the Fed bill, HR 1207, gaining the support of a majority of the House of Representatives! We are now the majority! Reps are fallin in like dominoes. Our newest co-sponsors. The list is now 222 baby! Are you with the Banks or R U with the people?

Rep. David Loebsack
Rep. Gary Miller
Rep. Frank Wolf
Rep. Corrine Brown
Rep. Jackie Speier
Rep. Bruce Braley
Rep. Donna Edwards
Rep. Bobby Bright
Rep. Anh “Joseph” Cao
Rep. Jared Polis
Rep. Dennis Kucinich
Rep. Howard “Buck” McKeon
Rep. Howard Coble
Rep. Jean Schmidt
Rep. Heath Shuler
 
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