Latest topics
» SCAMMER ALERT! - Judy aka Quartz Crystal the Source Player is PLAYING You for DONATIONS! - PLUS A CULT MEMBER CONVERSATION
House Votes Overwhelmingly to Audit the Federal Reserve EmptyToday at 1:48 am by RamblerNash

» Body Language: Putin & Assad In Damascus, Trump Joke
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:36 pm by PurpleSkyz

» Boyan Slat touring through Asia - Cleaning Rivers - The Ocean Cleanup
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:34 pm by PurpleSkyz

» POOPness for JAN 16: TRUST FUNDS CLEARED IN ACCOUNT - PSYCH! SEND ME MORE DONATIONS SUCKERS!
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 11:44 am by PurpleSkyz

» UFO News ~ INCREDIBLE UFO FOOTAGE CAPTURED OVER TULARE CA plus MORE
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 11:15 am by PurpleSkyz

» David Shilcock & Graham Hancock - Archaeology Discoveries How Are These Things Even Possible
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 11:08 am by PurpleSkyz

» #QTard Drama Theater - An Introduction to Q plus more
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 11:03 am by PurpleSkyz

» 5 Extraordinary Examples of How The Butterfly Effect Has Changed History...
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:58 am by PurpleSkyz

» Proxima Centauri may Host a Second Planet, a Super-Earth Six Times the Mass of Earth
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:42 am by PurpleSkyz

» 7 major Earth changes that are happening right now that everyone needs to know about
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:37 am by PurpleSkyz

» MUST WATCH: Take Back Your Power – smart meter documentary
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:34 am by PurpleSkyz

» Bees Absolutely Love Cannabis and It Could Help Restore Their Populations
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:28 am by PurpleSkyz

» The Collapse of the Petrodollar and Transition into a New System
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:17 am by PurpleSkyz

» Bill Ryan of Project Avalon - Debate Challenge! A Quartz Crystal Minion "Sourcetruth" Cult Failure!
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:31 am by PurpleSkyz

» Pentagon refuses to release information on UFOs - Luis Elizondo
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:04 am by PurpleSkyz

» NIBIRU News ~ Black Star Report plus MORE
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:03 am by PurpleSkyz

» Jeffrey Epstein Estate Sued by U.S. Virgin Islands over Child Sex Abuse Claims
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:01 am by PurpleSkyz

» Short of Time: Julian Assange at the Westminster Magistrates Court
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:58 am by PurpleSkyz

» MAX IGAN - What's Really Happening With the Australian Fires
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:51 am by PurpleSkyz

» A Week of Royal Headlines
House Votes Overwhelmingly to Audit the Federal Reserve EmptyThu Jan 16, 2020 9:27 pm by bs4ever

» Working with Animals BRIDGENIT
House Votes Overwhelmingly to Audit the Federal Reserve EmptyThu Jan 16, 2020 3:26 pm by Consciousness Of Economic

» Looping Stalking Hologram Ministry Of Consciousness
House Votes Overwhelmingly to Audit the Federal Reserve EmptyThu Jan 16, 2020 3:20 pm by Consciousness Of Economic






CURRENT MOON




You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » House Votes Overwhelmingly to Audit the Federal Reserve

House Votes Overwhelmingly to Audit the Federal Reserve

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin
← Air Force reverses stance: will allow atheists to omit ‘God’ from reenlistment oath
Man Calls Cops To Report Vandals At His Home, They Show Up And Kill Him →

House Votes Overwhelmingly to Audit the Federal Reserve

Posted on September 18, 2014 by Carey Wedler
House Votes Overwhelmingly to Audit the Federal Reserve Federal_reserve_bank_of_new_york_building Carey WedlerTheAntiMedia

WASHINGTON, D.C.- On Wednesday, the House of Representatives voted 333-92 to audit the Federal Reserve , the nation’s private, central bank. The Federal Reserve Accountability and Transparency Act, bolstered by bipartisan backing, could demand more disclosures from the secretive Federal Reserve if passed in the Senate.
House Votes Overwhelmingly to Audit the Federal Reserve Bernanke-300x156 The bill was introduced by Republican representative Paul Broun of Georgia and is a newer incarnation of former Texas Congressman Ron Paul’s 2012 Federal Reserve Transparency Act. At that time, it passed in the House with a 327-98 vote  but stalled in the Senate due to Democratic Senate Majority Leader Harry Reid’s resistance. Though Reid supported an audit in the 1990s, by 2012 his position shifted .
Opponents of an audit claim it would politicize the Fed’s activities. Chair of the Federal Reserve, Janet Yellenargued at a House Financial Committee Hearing in February that instituting an audit would be “interfering with the independence of monetary policy by bringing political pressures to bear on the committee’s judgment.” Though she has attempted to repair relations with Congress since her predecessor, Ben Bernanke stepped down in February, she remains weary of transparency.
The just-passed version of the House bill demands scrutiny over the Federal Reserve, particularly its monetary policy. Among other things , it would require a Government Accountability Office (GAO) audit of the Federal Reserve board and its twelve branches within 12 months of the bill’s passage.
In a 2011, a partial GAO audit of the Fed’s emergency lending programs (instituted as an amendment to the Dodd-Franken Wall Street Reform bill by Independent Senator Bernie Sanders of Vermont) found that the private central bank had loaned over 16 trillion dollars to corporations and banks internationally. These loans were classified as “financial assistance” during and following the 2008 financial crisis. Sanders also introduced the Federal Reserve Sunshine Act in 2009 , but it was never voted on.
In addition to Sanders’ attempts, Congressman Ron Paul’s Federal Reserve Transparency Act, and its current House incarnation, Paul’s son, Kentucky Republican Senator Rand Paul , introduced legislation  to audit the Federal Reserve in the Senate in February of 2013. It has still not come to a vote, though Paul threatened to block several Federal Reserve nominations in May in an attempt to spur its passage.
Paul has said :
“The Fed’s operations under a cloak of secrecy have gone on too long and the American people have a right to know what the Federal Reserve is doing with our nation’s money supply.”
A Rasmussen poll conducted in November of 2013  found that Americans want such transparency, with 74% favoring a public audit of the Fed.
The Federal Reserve Act of 1913 instituted the private bank and its authority to print money, and it still controls monetary policy today. It has been harshly criticized for its private ownership, intense secrecy, lack of accountability to Congress and the American people, quantitative easing , setting interest rates extremely low, bond buying, and bailing out corporations and banks. This week it announced a continuation of its near-zero interest rates, but hinted it may eventually raise them.
In spite of the overwhelming House vote in favor of auditing the Fed, it is largely believed the Federal Reserve Accountability and Transparency Act will be unable to gain traction in the Senate , which is dominated by Democrats. Still, the bill’s main sponsor, Paul Broun, said of the bill :
“This is a vital piece of legislation that will help to usher in a new era of transparency in this nation’s monetary policy…The Federal Reserve is a creation of Congress, and it must therefore be subject to the oversight and regulation of Congress.”

Don't forget to follow the D.C. Clothesline on Facebook and Twitter. PLEASE help spread the word by sharing our articles on your favorite social networks.

Share this:



Thanks to: http://www.dcclothesline.com



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum