My editorial to Audit the Fed

[Imperial]

This is my 250 word or less editorial to the biggest paper in my area to audit the fed. I also have a much shorter 200 word version. Critique?



The Banking Leviathan

In essence, the Federal Reserve is America’s central bank. It traditionally influences our monetary policy by controlling certain interest rates. However, with the economic crisis it has been given massive emergency powers. For example, it may collaborate with foreign banks to manipulate currencies. This has occurred often lately, but the startling fact is that these powers can be used without waiting for public comment.

The Freedom of Information Act is moot here. Bloomberg News tried to gain information about individual rescues of banks that were made unilaterally by the Federal Reserve worth TWO TRILLION DOLLARS. The Federal Reserve declined this request, citing a fear that people may not invest in companies that received rescue money.

Of course, I don’t think I want to invest in a bank that required federal funds to stay afloat. However, in the eyes of our central bank my financial well-being doesn’t matter. Instead, the Federal Reserve has subordinated the interest of the individual to preserve the Leviathan of its power.

Today, the GAO has practically no authority to audit the Federal Reserve’s international and emergency activities. However, we have an alternative. Republican US Representative Ron Paul from our area and Independent Senator Bernie Sanders have introduced legislation to expand the authority of the GAO to audit our central bank. Please urge your legislators to fight for transparency by co-sponsoring HR 1207 in the House and S 604 in the Senate.

[AuH2O]

This is my 250 word or less editorial to the biggest paper in my area to audit the fed. I also have a much shorter 200 word version. Critique?

Your second and third paragraph restate the Fed's argument for itself. Don't do that. Many people will find that point reasonable and side with the Fed.

Here's how I'd write it, take anything you like (250 words):

The Federal Reserve is America’s central bank, but operates freely without any accountability or government oversight. It manipulates our nation's monetary policy by controlling interest rates and the creation of money -- and has now been exercising even further-reaching "emergency powers" during the economic crisis. It has even been collaborating with foreign banks to manipulate worldwide currencies.

These actions are kept secret from the American people and even Congress. They have refused to open their books for Freedom of Information Act requests. The Fed has even denied Congressional inquiries into TWO TRILLION DOLLARS in Wall Street bailouts.

The Federal Reserve's actions hurt the average American by making every one of their dollars less valuable. This is the result of the Fed supplying well-connected bankers with trillions in new money.

To our central bankers, the financial well-being of the American public is irrelevant. Instead, the Federal Reserve subordinates the interests of individual citizens to the preservation of its vast monopoly powers and the profits of Wall Street bankers and international financiers.

Although Congress and the Government Accountability Office (GAO) currently have no oversight over the Federal Reserve, there is now a real solution. Texas Congress Ron Paul has introduced legislation to restore the GAO's oversight authority to audit our central bank, and has collected 179 cosponsors in support. A companion bill has even been introduced in the Senate. Please urge your legislators to fight for transparency in government by co-sponsoring HR 1207 in the House and S 604 in the Senate.