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Ron Paul's Audit The Fed Bill To Get Hearing in House
Committee
HR1207 another step closer to making financial transparency
a reality
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Texas Congressman Ron Paul's bill HR 1207, legislation that
would see an audit of the Federal Reserve, is to be subject
to an official hearing before the House Financial Services Committee
later this month.
The announcement marks another significant step
in the progression of The Federal
Reserve Transparency Act.
The news was announced last night by John
Tate, President of Ron Paul's Campaign For Liberty,
with the following statement::
Thanks to the thousands of Campaign for Liberty
members who have tirelessly dedicated themselves to spreading
the word, gathering petitions, and putting continuous pressure
on Congress by calling, writing, and faxing, Congressman Ron
Paul informed C4L today that House Financial Services Committee
Chairman Barney Frank has officially agreed to hold hearings
on HR 1207! The hearings are tentatively scheduled for Friday,
September 25 at 9:00 am.
HR1207 now has 285 co-sponsors in the House and
24 in the Senate, meaning that around 65% of the House of Representatives
is already co-sponsoring the legislation.
"Less than a year ago, a thorough audit of
the Federal Reserve wasn't on anyone's radar. Now, we have the
support of seventy five percent of the American people, almost
two thirds of the House of Representatives, nearly a quarter
of the Senate, and an official hearing before the House Financial
Services Committee!" Tate Commented, urging campaigners
to continue to seek cosponsers for the bill.
(Article continues below)
Recent polls conducted by Gallup
and Rasmussen
found that a vast majority of the public are suspicious of the
Federal Reserve, with 75% in favor of an audit.
Though the news that the bill will get a hearing is cause for
celebration, more support is needed for the companion legislation
in the Senate. Without support for S 604, the
Federal Reserve Sunshine Act of 2009, the Senate
may be able to block HR 1207 and other legislation seeking to
audit the Fed.
The Campaign For Liberty is planning a Mass
Action Day on September 15. State and local C4L
groups will personally deliver over 100,000 petitions to Capitol
Hill, urging more senators to cosponsor the bill.
The key Senators to pressure on S 604 are:
Kay Hutchison (R - TX) 202-224-5922 (on the Senate Banking
Committee)
Robert Bennett (R - UT) (202) 224-5444 (on the Senate Banking
Committee)
Other Senators on the Banking Committee can be found here:
http://www.opencongress.org/committee/show/146_senate_banking_housing_an...
Use this site to contact your reps:
http://www.downsizedc.org/etp/campaigns/112
List of all senators & contact information:
http://senate.gov/general/contact_information/senators_cfm.cfm
If passed, HR1207 will ensure that the Fed make public the
destination of the trillions in taxpayer “loans”
that have been simply handed over to private banks without oversight.
Bernanke will be seated before Congress and forced to answer
these questions instead of worming his way out of them, citing
"extraordinary circumstances" and the like, as we
have seen him do over and over for the past eight months.
The bill, if it becomes law, will expose how the Fed has consistently
engaged the inflation of the currency for the gain of a few
elite international bankers, further exposing how this kind
of criminal action has directly led to financial crises and
recessions for decades.
An audit would set the stage for the end of fraudulent fractional
reserve banking and a return of honest money and fiscal policies.
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