It is a victory for the American people. Thank God for Ron Paul!

By Daniel at 20 November, 2009, 11:52 am

“If you care about transparency of the Fed, you would allow a look at monetary policy,” Paul said. “We’re dealing with trillions of dollars that doesn’t get audited. There is no reason why the world can’t know, eventually, what the Fed is doing.”

“Paul’s measure, which was approved by a vote of 43 to 26, would require the Government Accountability Office to audit the central bank’s interest rate policy, agreements with foreign governments, foreign central banks and the International Monetary Fund. It also would permit audits of a roughly $800 billion Fed mortgage-backed securities purchase program, which could grow to $1.25 trillion, Paul said. ”

http://www.marketwatch.com/story/panel-votes-to-audit-feds-balance-sheet-2009-11-19

Ron Paul, the only politician who truly has Americas interest at heart. And screw the likes of Barney Frank who is, at best, self serving. Ron Paul knows who he was elected to represent and has never lost sight of that. I would like to see a list of anyone who votes against this and have them explain themselves to the millions of people being held accountable by the IRS every single year. We’re talking Trillions of dollars……nobody should have control of that amount of money without oversight. Geitner and company can shove it!

END THE FED! they use our money, the profits are privatized and the loses are socialized.
not to mention taxation without representation, the reason the U.S. is in the gutter can be traced directly back to this banking cartel. we have had nothing but continuous war for almost 100 years since the latest version of the central bank. the revolving door between banking, corporate America and the govt must end or the country will! and the beneficiaries of the collapse will own it all and be no where found.

Enough is enough

I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Thomas Jefferson

Government big enough to supply everything you need is big enough to take everything you have … The course of history shows that as a government grows, liberty decreases.
Gerald Ford (i know! i was surprised too!)

Here’s just one example of why the Fed needs to be audited:

(Barrons) IT’S THE CRASH YOU DIDN’T HEAR. Not in the price of any security market, but in short-term U.S. Treasury yields.

Treasury bills once again were trading at negative interest rates Thursday, a mind-boggling state of affairs that hasn’t existed since the panic late last year. That followed the collapse of Lehman Brothers and the assorted knock-on effects, notably the run on money-market funds after the Reserve Fund “broke the buck.”

http://online.barrons.com/article/SB125869502873557185.html?mod=BOL_hpp_dc

The Paul-Grayson Amendment to the Financial Stability Improvement Act that was adopted by the House Financial Services Committee today does contain the language that prohibits the GAO to make the boilerplate recommendations that it routinely makes after performing audits. See the third bullet item below.

“The amendment removes restrictions on GAO audits of the Federal Reserve, as HR 1207 does, but makes a few changes to take into account some of the concerns that the Fed has made known in public testimony. Specifically, the Paul/Grayson amendment:

* Exempts unreleased transcripts and minutes from meetings of the Board and FOMC to address the Fed’s concerns that free and open debate in their meetings would be stifled.
* Sets a 180-day time lag for release of details of market actions the Fed has undertaken, to address the Fed’s concerns that Congress or GAO is second-guessing its actions.
* Removes boilerplate language that allowed GAO to make recommendations on monetary policy and adds a section stating that nothing in the amendment shall be construed as interference in or dictation of monetary policy to the Fed.”

Here’s a link to videos on the subject, courtesy of Daily Paul:

http://www.dailypaul.com/node/115238

Audit the Fed, then abolish it.

- gottabenutz