OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» A Cheap, New COVID Cure Just Did Away Any Need for a Vaccine!
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 10:11 pm by Ponee

» Bad-clown Rising - Rock Bottom Comix
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 7:41 pm by PurpleSkyz

» Body Language: Lindsey Graham on Trump, McConnell, Midterms & Newsmax
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 7:38 pm by PurpleSkyz

» Shrooms: The Tesla Of Drugs
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 6:51 pm by PurpleSkyz

» UFO News ~ "V" shaped formation of lights on horizon in Arvada, Colorado plus MORE
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:35 pm by PurpleSkyz

» Strange streak of light apparently releases bright object over Red Springs
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:19 pm by PurpleSkyz

» Mitt Romney Admits: Trump Would Win GOP Nomination If He Runs In 2024
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:16 pm by PurpleSkyz

» Dark Journalist: The State of Emergency Powers!
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:13 pm by PurpleSkyz

» WTH – After Stealing the 2020 Election, Big Media Is Now Claiming Joe Biden Is Some Sort of Saint
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:07 pm by PurpleSkyz

» FULL (of it) Benjamin bla bla blah Fulford 02-22-21... Massive March Campaign Planned Against Global Idiocracy
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 1:00 pm by PurpleSkyz

» Rep. Bill Johnson: Democrat Efforts to Censor Dissident Media ‘Eerily Similar’ to Communist China
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:51 pm by PurpleSkyz

» FDA Says J&J COVID Vaccine ‘Safe,’ Emergency Approval Expected Within Days
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:22 pm by PurpleSkyz

» Following Lawsuit, CDC Removes Claim “Vaccines Do Not Cause Autism” from its Website
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:19 pm by PurpleSkyz

» Entire Federal Reserve Payment System CRASHES
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:16 pm by PurpleSkyz

» Public Health Officials Are Lying About Lockdowns
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:08 pm by PurpleSkyz

» Biden Gives $4 BILLION to WHO and Bill Gates for Global COVID Vaccine Injury Compensation Program but Nothing for the People?
House Votes Overwhelmingly to Audit the Federal Reserve EmptyYesterday at 12:03 pm by PurpleSkyz

» Astrophysicists find rare star spinning backwards
House Votes Overwhelmingly to Audit the Federal Reserve EmptyWed Feb 24, 2021 4:41 pm by PurpleSkyz

» Bright Meteor Fireball Flashes across Sky over Alberta, Canada
House Votes Overwhelmingly to Audit the Federal Reserve EmptyWed Feb 24, 2021 4:38 pm by PurpleSkyz

» Everything is Fake in Utopia
House Votes Overwhelmingly to Audit the Federal Reserve EmptyWed Feb 24, 2021 4:34 pm by PurpleSkyz

» Biden Caught In Another Big Lie – Claims More Deaths from COVID than WWI, WWII and Vietnam Wars Combined – Simply Not True
House Votes Overwhelmingly to Audit the Federal Reserve EmptyWed Feb 24, 2021 4:26 pm by PurpleSkyz



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 Wedler | TheAntiMedia

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 Yellen, argued 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