Audit the Fed a go -- our task: to keep the train on track

[axiomata]

It sounds like both the House and Senate will be starting the debate on the Audit the Fed bills. Few things are going to be more important for our grassroots than making sure the discussion and bills that come out of the debate are in tune with RP's intent. If we let them bastardize the bills and things get worse, then the idea itself will become discredited.

This will take a substantial effort on our part to closely follow the debate, and make our voices heard when thei efforts begin to weave off course. We will have to contact our reps, especially if they are in the committee working on a version of the bill. We will have to call in to radio shows and write letters to the editor clearly outlining the way it is supposed to work, and criticizing changes that will be harmful.

[FindLiberty]

+100

On bastardization high alert!

[Matthew Zak]

We ought to make our voices heard RIGHT NOW! Let's make sure they know that not a one word of that bill will be changed.

[axiomata]

They've thrown a switch in the track ahead!

http://www.campaignforliberty.com/blog.php?view=26686


Federal Reserve Accountability Act An Unacceptable Compromise

Washington D.C. October 20, 2009 -Today, Senators Jeff Merkley (D-OR) and Bob Corker (R-TN) introduced the Federal Reserve Accountability Act, an attempted compromise on the issue of transparency for America's secretive central bank. The bill would permit an audit of the Fed's actions in the Troubled Asset Relief Program (TARP) and similar high profile bailouts, but would not allow Congress to review the Fed's inflation of the money supply or the its agreements with foreign central banks.

Legislation that would bring a full audit of the Fed, Congressman Ron Paul's H.R. 1207 and its Senate companion S. 604, has gained strong grassroots support and built tremendous pressure on banking special interests.

Opponents of Fed Transparency argue that a full audit of the Federal Reserve would damage the central bank's "independence" and allow Congress to dictate monetary policy.

"Claims that transparency at the Federal Reserve would leave Congress in charge of monetary policy are simply bogus," said Jesse Benton, Senior Vice President of Campaign for Liberty. "There is absolutely no reason why The American People should not be able to review the minutes of the Federal Open Market Committee after a reasonable amount of time has passed."

"The Federal Reserve Accountability Act does not audit the monetary policy functions which have been responsible for our deteriorating dollar and so many of our current economic problems, and it is not an acceptable piece of legislation. Campaign for Liberty will continue to push for a full audit of the Fed."

The announcement of the new legislation comes after the number of cosponsors in the House of Representatives for H.R. 1207 recently climbed to 303, and S. 604 gained 30 senate cosponsors. Campaign for Liberty has been leading the grassroots effort on H.R .1207, getting it to its current point with 75% of Americans showing support for a thorough audit of the Federal Reserve.

If we fail the death and destruction caused by the derailed train will be blamed on the train and not the rascal who through the switch.