AUDIT THE FEDERAL RESERVE BILL MAKING ITS WAY THROUGH THE HOUSE

by CynicalPatriot | April 26, 2009 at 08:17 pm

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Year after year in Congress, Rep. Ron Paul [R, TX-14] has introduced a bill to abolish the Fed (H.R. 833). Though the bill has a dedicated network of citizen supporters – see the End the Fed network – it has never made any legislative progress or gained a single co-sponsor.

This year, however, Paul has introduced a toned-down version, along with the original, that is gaining co-sponsors quickly and could actually get a vote this session — the Federal Reserve Transparency Act of 2009. The co-sponsor list, currently at 58, is strongly bipartisan. It includes progressive Democrats like Rep. Alan Grayson [D, FL-8] and Rep. Henry Waxman [D, CA-30], Blue Dogs like Rep. Gene Taylor [D, MS-4] and Rep. Collin Peterson [D, MN-7], and conservatives like Rep. Michele Bachmann [R, MN-6] and Rep. Scott Garrett [R, NJ-5].

While we would prefer the immediate dismantling of the Federal Reserve, we believe that the audit will reveal the trespasses of the Federal Reserve and that will provide the momentum for it being dismantled.

Others have spoke to these matters more eloquently than I can, so below are two links for those who would like be better informed and understand why Public Central Banks are destructive to Democracies and Republics.

EVILS OF A PUBLIC CENTRAL BANK AKA THE USA FEDERAL RESERVE
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How To Abolish The Federal Reserve - Video

1. Pay off debt with debt-free U.S. notes.
2. Abolish fractional reserve banking. As the debt is paid off, the reserve requirements of all banks and financial institutions would be raised proportionally at the same time to absorb the new US notes.
3. Repeal of the Federal Reserve Act.
4. Withdraw the US from the IMF, the BIS and the World Bank.

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Thomas Jefferson, on Monetary Creation via a Central Bank

Andrew Jackson, upon vetoing the Second Bank of the United States Charter, addressed Congress:

"The bold efforts that the present bank has made to control the government and the distress it has wantonly caused, are but premonitions of the fate which awaits the American People should they be deluded into a perpetuation of this institution or the establishment of another like it...If the People only understood the rank injustice of our money and banking system there would be a revolution before morning!"

By eliminating the Second Bank of the United States, Andrew Jackson was able to completely eliminate the National Debt!

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------\ Thomas Jefferson's Opinion on the Constitutionality of a National Bank, 1791

I consider the foundation of the Constitution as laid on this ground: That " all powers not delegated to the United States, by the Constitution, nor prohibited by it to the States, are reserved to the States or to the people." To take a single step beyond the boundaries thus specially drawn around the powers of Congress, is to take possession of a boundless field of power, no longer susceptible of any definition.

The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States, by the Constitution.

Courtesy of Tne Cynical Patriot

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