House Approves Ron Paul’s Proposal to Audit the Federal Reserve

by the Left Coast Rebel

Today you can chalk up at least one victory for transparency, Ron Paul’s Audit the Fed measure has been approved by the House Finacial Services Committee thus leading the way to drastically pulling back the secrecy; the curtain if you will, of the Federal Reserve. From Politico :

The measure, based on a Paul proposal that has attracted more than 300 co-sponsors, passed, 43-26, as an amendment to a financial reform bill. Florida Democrat and fellow Fed critic Alan Grayson co-sponsored the amendment with Paul and played a leading role drumming up support for it among committee members. The adoption of this amendment is an extraordinary victory for Paul, whose libertarian, anti-Fed leanings have often been dismissed by the political establishment.

The amendment would give the Government Accountability Office much greater to audit the Federal Reserve, which has a long history of independence from congressional audits. Paul and Grayson beat out a competing measure offered by Rep. Mel Watt (D-N.C.), who after weeks of negotiations with the pair felt their measure would threaten the Fed’s monetary policy.

The House Financial Services Committee will vote on approving the underlying bill after Thanksgiving recess.

Many in the liberty movement have been fighting hard on this one and it is amazing to see it reach this point. This thing is not over however. Final passage will happen on Tuesday December 1st. Ron Paul today:

Video Via Daily Paul
Via Memeorandum


  1. Good. I didn't think it was going to happen.

  2. @ BB – I think that it will, it's the only silver lining to all of the horsesh%t that we are in the midst of.


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