tobefree

June 10, 2009

Ron Paul’s Bill To Audit ‘Federal’ Reserve Now Has 207 Co-Sponsors!

Filed under: $Money$ ToBeFree,Ron Paul • ToBeFree — Jeff Fenske @ 6:12 pm

From: Infowars, June 10, 2009

Bill To Audit Federal Reserve Now Has 207 Co Sponsors  100609RPAt time of writing, a bill that would see the Federal Reserve bank audited for the first time in 59 years has 207 cosponsers in the House and is gaining traction with every single day.

This means just 11 more are needed for a majority to be reached in the House.

If enacted, HR 1207 will amend title 31 of the United States Code and reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States.

In other words, for the first time since 1950, the the independent financial powerhouse that creates and regulates all money in the US will be forced by law to open its books.

HR 1207 was sponsored and introduced by Rep. Ron Paul. On February 26, 2009, it was referred to the House Committee on Financial Services, where it remains under consideration.

HR 1207 also has a companion bill, S 604: F R Sunshine Act of 2009, in the Senate.

This news also dovetails with reports detailing how the House Oversight and Government Reform Committee, the panel responsible for investigating the use of bailout money, has issued a subpoena to the Federal Reserve, asking them to hand over all documents relating to the takeover of Merrill Lynch by the Bank of America.

Claims by New York Attorney-General Andrew Cuomo that former Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke strong-armed BofA into buying Merrill, could see the two exposed to prosecution.

There is no doubt that the privately owned Federal Reserve is in hot water, and it knows it.

As we reported last week, the Fed is hiring a veteran lobbyist to “manage its relations with Congress”. According to a Reuters report, the Fed plans to hire Linda Robertson, who previously worked for now-defunct energy company Enron, as well as the Clinton administration.

It is also no coincidence that the End the Fed movement has recently been targeted by smear campaigns. The MIAC report cited Ron Paul supporters as potential extremists and the United States Army Reserve Command issued “mitigation measures” in response to End the Fed demonstrations around the country last year.

Ron Paul recently explained to Forbes why the passage of HR 1207 is so important:

The Federal Reserve’s recent and unprecedented actions in the realm of monetary policy have provoked a backlash among the American people. Trillions of dollars worth of loans and guarantees have been provided to Wall Street firms, while Main Street Americans suffocate under harsh taxation, the prospect of higher debt levels and increasing inflation. These events have awakened many Americans to problems with the Fed’s loose monetary policy, the bubbles it has created in the past and the potential hyperinflation it might cause in the future.

One of the fallacies of modern economics is the idea that a central bank is required in order to keep inflation low and promote economic growth. In reality, it is the central bank’s monetary policy that causes inflation and depresses economic growth. Inflation is an increase in the supply of money, which in our day and age is directly caused or initiated by central banks. All other things being equal, inflation results in a rise in prices. A so-called “mild” rate of inflation of 3% per year leads to a 56% rise in prices over a 15-year period. Even a “low” rate of inflation of 2% per year leads to a 35% rise over that same period. How is that conducive to long-term growth?

A common misconception is that the Fed is completely independent of political pressures. While the Fed has far too much authority to make agreements with foreign governments and central banks, or create temporary liquidity facilities, the governors and–more important–the chairman, are appointed by the president.

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 the Federal Reserve and a return of honest money and fiscal policies.

Indeed, Jim Grant, editor of Grant’s Interest Rate Observer, today told CNBC that the Fed’s balance sheet is “so out of whack” that the central bank would be shut down if subjected to a audit.

“In essence, the bill requires an audit of the Fed’s activity which shall be made available to Congress,” wrote Glenn Greenwald recently. “What possible arguments exist against this bill? Who opposes an audit of the Fed’s activities and why?”

**

Tune in to The Alex Jones Show today (June 10th 2009) to hear Congressman Ron Paul give an update on the progress of HR 1207.

The Daily Paul blog site has compiled a list of Democrats and a list of Republicans who have not signed on to co sponsor HR 1207. If your representatives are in either of these lists, we urge you to contact them and pressure them to cosponser the bill.

A full list of the 207 cosponsers follows. The ever growing list can also be tracked online at the Library of Congress here.

Rep Kagen, Steve [WI-8] – 2/26/2009

Rep Bachmann, Michele [MN-6] – 2/26/2009

Rep Bartlett, Roscoe G. [MD-6] – 2/26/2009

Rep Jones, Walter B., Jr. [NC-3] – 2/26/2009

Rep Rehberg, Denny [MT] – 2/26/2009

Rep Posey, Bill [FL-15] – 2/26/2009

Rep Broun, Paul C. [GA-10] – 2/26/2009

Rep Poe, Ted [TX-2] – 2/26/2009

Rep Burton, Dan [IN-5] – 2/26/2009

Rep Abercrombie, Neil [HI-1] – 2/26/2009

Rep Woolsey, Lynn C. [CA-6] – 2/26/2009

Rep Garrett, Scott [NJ-5] – 3/5/2009

Rep Chaffetz, Jason [UT-3] – 3/6/2009

Rep Kingston, Jack [GA-1] – 3/6/2009

Rep Young, Don [AK] – 3/6/2009

Rep Rohrabacher, Dana [CA-46] – 3/6/2009

Rep Stearns, Cliff [FL-6] – 3/6/2009

Rep McClintock, Tom [CA-4] – 3/6/2009

Rep Heller, Dean [NV-2] – 3/6/2009

Rep Duncan, John J., Jr. [TN-2] – 3/6/2009

Rep Taylor, Gene [MS-4] – 3/6/2009

Rep DeFazio, Peter A. [OR-4] – 3/9/2009

Rep Alexander, Rodney [LA-5] – 3/10/2009

Rep Price, Tom [GA-6] – 3/10/2009

Rep Petri, Thomas E. [WI-6] – 3/10/2009

Rep Foxx, Virginia [NC-5] – 3/10/2009

Rep Grayson, Alan [FL-8] – 3/11/2009

Rep Marchant, Kenny [TX-24] – 3/11/2009

Rep Wamp, Zach [TN-3] – 3/16/2009

Rep Blackburn, Marsha [TN-7] – 3/16/2009

Rep Buchanan, Vern [FL-13] – 3/17/2009

Rep Castle, Michael N. [DE] – 3/17/2009

Rep Fleming, John [LA-4] – 3/18/2009

Rep Akin, W. Todd [MO-2] – 3/19/2009

Rep Platts, Todd Russell [PA-19] – 3/19/2009

Rep Peterson, Collin C. [MN-7] – 3/19/2009

Rep McCotter, Thaddeus G. [MI-11] – 3/19/2009

Rep Lummis, Cynthia M. [WY] – 3/19/2009

Rep Burgess, Michael C. [TX-26] – 3/19/2009

Rep Sessions, Pete [TX-32] – 3/23/2009

Rep Deal, Nathan [GA-9] – 3/23/2009

Rep Franks, Trent [AZ-2] – 3/23/2009

Rep Miller, Jeff [FL-1] – 3/24/2009

Rep Blunt, Roy [MO-7] – 3/24/2009

Rep Stark, Fortney Pete [CA-13] – 3/26/2009

Rep Culberson, John Abney [TX-7] – 3/26/2009

Rep Paulsen, Erik [MN-3] – 3/30/2009

Rep Gingrey, Phil [GA-11] – 3/30/2009

Rep Terry, Lee [NE-2] – 3/30/2009

Rep Carter, John R. [TX-31] – 3/31/2009

Rep Capito, Shelley Moore [WV-2] – 4/1/2009

Rep Wittman, Robert J. [VA-1] – 4/1/2009

Rep Fallin, Mary [OK-5] – 4/2/2009

Rep Smith, Lamar [TX-21] – 4/2/2009

Rep Westmoreland, Lynn A. [GA-3] – 4/2/2009

Rep Lucas, Frank D. [OK-3] – 4/21/2009

Rep Lamborn, Doug [CO-5] – 4/21/2009

Rep Ehlers, Vernon J. [MI-3] – 4/21/2009

Rep Bilbray, Brian P. [CA-50] – 4/21/2009

Rep Pence, Mike [IN-6] – 4/21/2009

Rep Manzullo, Donald A. [IL-16] – 4/21/2009

Rep McCaul, Michael T. [TX-10] – 4/21/2009

Rep Cole, Tom [OK-4] – 4/21/2009

Rep Roe, David P. [TN-1] – 4/21/2009

Rep Herger, Wally [CA-2] – 4/21/2009

Rep Bishop, Rob [UT-1] – 4/21/2009

Rep Baldwin, Tammy [WI-2] – 4/21/2009

Rep Olson, Pete [TX-22] – 4/21/2009

Rep Latham, Tom [IA-4] – 4/21/2009

Rep Luetkemeyer, Blaine [MO-9] – 4/21/2009

Rep Doggett, Lloyd [TX-25] – 4/21/2009

Rep Rooney, Thomas J. [FL-16] – 4/22/2009

Rep Massa, Eric J. J. [NY-29] – 4/22/2009

Rep Johnson, Sam [TX-3] – 4/22/2009

Rep Thompson, Glenn [PA-5] – 4/22/2009

Rep Brady, Kevin [TX-8] – 4/22/2009

Rep Smith, Adam [WA-9] – 4/22/2009

Rep Shimkus, John [IL-19] – 4/22/2009

Rep Graves, Sam [MO-6] – 4/22/2009

Rep Jenkins, Lynn [KS-2] – 4/23/2009

Rep Gohmert, Louie [TX-1] – 4/23/2009

Rep Inglis, Bob [SC-4] – 4/23/2009

Rep Kaptur, Marcy [OH-9] – 4/23/2009

Rep Johnson, Timothy V. [IL-15] – 4/23/2009

Rep Brown, Henry E., Jr. [SC-1] – 4/28/2009

Rep Biggert, Judy [IL-13] – 4/28/2009

Rep Pitts, Joseph R. [PA-16] – 4/28/2009

Rep Tiahrt, Todd [KS-4] – 4/28/2009

Rep Myrick, Sue Wilkins [NC-9] – 4/28/2009

Rep Putnam, Adam H. [FL-12] – 4/28/2009

Rep LaTourette, Steven C. [OH-14] – 4/28/2009

Rep Tiberi, Patrick J. [OH-12] – 4/28/2009

Rep Ros-Lehtinen, Ileana [FL-18] – 4/28/2009

Rep Hoekstra, Peter [MI-2] – 4/28/2009

Rep Miller, Candice S. [MI-10] – 4/28/2009

Rep Granger, Kay [TX-12] – 4/28/2009

Rep Simpson, Michael K. [ID-2] – 4/28/2009

Rep Barrett, J. Gresham [SC-3] – 4/28/2009

Rep Goodlatte, Bob [VA-6] – 4/28/2009

Rep Smith, Adrian [NE-3] – 4/28/2009

Rep Wilson, Joe [SC-2] – 4/29/2009

Rep Hall, Ralph M. [TX-4] – 4/29/2009

Rep Kline, John [MN-2] – 4/29/2009

Rep Bono Mack, Mary [CA-45] – 4/29/2009

Rep Murphy, Tim [PA-18] – 4/29/2009

Rep Calvert, Ken [CA-44] – 4/29/2009

Rep McDermott, Jim [WA-7] – 4/29/2009

Rep Upton, Fred [MI-6] – 4/29/2009

Rep Bachus, Spencer [AL-6] – 4/29/2009

Rep Buyer, Steve [IN-4] – 4/30/2009

Rep Neugebauer, Randy [TX-19] – 4/30/2009

Rep McHenry, Patrick T. [NC-10] – 4/30/2009

Rep McCarthy, Kevin [CA-22] – 5/4/2009

Rep Barton, Joe [TX-6] – 5/4/2009

Rep Hensarling, Jeb [TX-5] – 5/4/2009

Rep McMorris Rodgers, Cathy [WA-5] – 5/4/2009

Rep Bilirakis, Gus M. [FL-9] – 5/4/2009

Rep Moran, Jerry [KS-1] – 5/4/2009

Rep Cassidy, Bill [LA-6] – 5/4/2009

Rep Walden, Greg [OR-2] – 5/4/2009

Rep Crenshaw, Ander [FL-4] – 5/4/2009

Rep Campbell, John [CA-48] – 5/4/2009

Rep LoBiondo, Frank A. [NJ-2] – 5/4/2009

Rep McHugh, John M. [NY-23] – 5/4/2009

Rep Schakowsky, Janice D. [IL-9] – 5/6/2009

Rep Linder, John [GA-7] – 5/6/2009

Rep Aderholt, Robert B. [AL-4] – 5/6/2009

Rep Davis, Geoff [KY-4] – 5/6/2009

Rep Dent, Charles W. [PA-15] – 5/6/2009

Rep Radanovich, George [CA-19] – 5/6/2009

Rep Schock, Aaron [IL-18] – 5/6/2009

Rep Herseth Sandlin, Stephanie [SD] – 5/6/2009

Rep Austria, Steve [OH-7] – 5/6/2009

Rep Adler, John H. [NJ-3] – 5/6/2009

Rep Sensenbrenner, F. James, Jr. [WI-5] – 5/7/2009

Rep Lungren, Daniel E. [CA-3] – 5/7/2009

Rep Walz, Timothy J. [MN-1] – 5/7/2009

Rep Shuster, Bill [PA-9] – 5/7/2009

Rep Michaud, Michael H. [ME-2] – 5/7/2009

Rep Conaway, K. Michael [TX-11] – 5/7/2009

Rep Shadegg, John B. [AZ-3] – 5/7/2009

Rep Boozman, John [AR-3] – 5/7/2009

Rep Guthrie, Brett [KY-2] – 5/7/2009

Rep Flake, Jeff [AZ-6] – 5/11/2009

Rep Hastings, Doc [WA-4] – 5/11/2009

Rep Lance, Leonard [NJ-7] – 5/11/2009

Rep Gerlach, Jim [PA-6] – 5/11/2009

Rep Harper, Gregg [MS-3] – 5/11/2009

Rep Hare, Phil [IL-17] – 5/11/2009

Rep Royce, Edward R. [CA-40] – 5/12/2009

Rep Fortenberry, Jeff [NE-1] – 5/12/2009

Rep Mack, Connie [FL-14] – 5/12/2009

Rep Barrow, John [GA-12] – 5/12/2009

Rep Mica, John L. [FL-7] – 5/12/2009

Rep Maffei, Daniel B. [NY-25] – 5/12/2009

Rep Inslee, Jay [WA-1] – 5/12/2009

Rep Rogers, Mike D. [AL-3] – 5/13/2009

Rep Minnick, Walter [ID-1] – 5/13/2009

Rep Boustany, Charles W., Jr. [LA-7] – 5/13/2009

Rep Turner, Michael R. [OH-3] – 5/13/2009

Rep Hunter, Duncan D. [CA-52] – 5/13/2009

Rep Perriello, Thomas S.P. [VA-5] – 5/13/2009

Rep Ortiz, Solomon P. [TX-27] – 5/14/2009

Rep Ryan, Paul [WI-1] – 5/14/2009

Rep Whitfield, Ed [KY-1] – 5/14/2009

Rep Pastor, Ed [AZ-4] – 5/20/2009

Rep Brown-Waite, Ginny [FL-5] – 5/20/2009

Rep Altmire, Jason [PA-4] – 5/20/2009

Rep Latta, Robert E. [OH-5] – 5/20/2009

Rep Reichert, David G. [WA-8] – 5/20/2009

Rep Rogers, Mike J. [MI-8] – 5/20/2009

Rep Berry, Marion [AR-1] – 5/20/2009

Rep Schauer, Mark H. [MI-7] – 5/20/2009

Rep Scalise, Steve [LA-1] – 5/20/2009

Rep Forbes, J. Randy [VA-4] – 5/20/2009

Rep Ross, Mike [AR-4] – 5/21/2009

Rep Berkley, Shelley [NV-1] – 5/21/2009

Rep Welch, Peter [VT] – 5/21/2009

Rep Thornberry, Mac [TX-13] – 5/21/2009

Rep Jordan, Jim [OH-4] – 6/2/2009

Rep Hinchey, Maurice D. [NY-22] – 6/2/2009

Rep Roskam, Peter J. [IL-6] – 6/2/2009

Rep Young, C.W. Bill [FL-10] – 6/3/2009

Rep Grijalva, Raul M. [AZ-7] – 6/3/2009

Rep Frelinghuysen, Rodney P. [NJ-11] – 6/3/2009

Rep Halvorson, Deborah L. [IL-11] – 6/3/2009

Rep King, Peter T. [NY-3] – 6/4/2009

Rep Holden, Tim [PA-17] – 6/4/2009

Rep Lipinski, Daniel [IL-3] – 6/4/2009

Rep Kratovil, Frank, Jr. [MD-1] – 6/4/2009

Rep Pascrell, Bill, Jr. [NJ-8] – 6/9/2009

Rep Boswell, Leonard L. [IA-3] – 6/9/2009

Rep Bonner, Jo [AL-1] – 6/9/2009

Rep Tonko, Paul D. [NY-21] – 6/9/2009

Rep Mitchell, Harry E. [AZ-5] – 6/9/2009

Rep Johnson, Henry C. “Hank,” Jr. [GA-4] – 6/9/2009

Rep Shea-Porter, Carol [NH-1] – 6/9/2009

Rep Carney, Christopher P. [PA-10] – 6/9/2009

Rep Childers, Travis [MS-1] – 6/9/2009

Rep Murphy, Patrick J. [PA-8] – 6/9/2009

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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