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Wednesday, November 25, 2009

Fed Audit still in Jeopardy? More info (Thanks to Michael McPadden)Share

Thanks Michael

McPaddenFed Audit still in Jeopardy? More info (Thanks to Michael McPadden)Share
Today at 6:59pm
Fed Audit in Jeopardy
Below I have listed an entry from Mish's blog about the "Audit the Fed" bill in Congress. I have always said that if the Federal Reserve gets a fair and thorough audit they would not last another three years, after the American people find out what they have done. Well democrat Mel Watt from North Carolina has made sure that the fair audit will not happen. Did you really expect that the Fed was just going to roll over on this one. It is time to make some phone calls.

This should come as no surprise but Ron Paul says Federal Reserve Policy Audit Legislation ‘Gutted’

Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.

The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.

“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”

Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.

Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.

Call The Capital Switchboard

Conservative For Change has this advice in Ron Paul's Audit the Fed Bill Gutted.

It is time to get on the phone with everyone in Washington...Congressman and Senators and demand action against the illegal Federal Reserve. Call the Capitol Switchboard 202-224-3121 and speak with everyone you can!

Call Democratic Central Committee

On October 8, in Audit The Fed Revisited Jacob Dreizin offered this advice.

Without a flood of citizen lobbying, they will most likely water down H.R. 1207 into something meaningless, or else ignore it altogether.

The committee Democrats' central phone number is (202) 225–4247, and the fax is (202) 225-6952. Alternately, and perhaps more effectively, you can politely email some or all of the committee's most senior Democrat staff directly, as follows:

Committee staff director and chief counsel:

Committee deputy chief counsel:

Committee communications director: (or possibly

Phone Your Own Representative

For a list of phone and fax numbers for Congress please see Speak Out - Audit the Fed, Then End It!

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