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DIGG! Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says

!! DIGG IT !!

By Bob Ivry | Bloomberg

Oct. 30 (Bloomberg) -- 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.”

The Fed, led by Chairman Ben S. Bernanke, has come under greater congressional scrutiny while attempting to end the financial crisis by bailing out financial firms and more than doubling its balance sheet to $2.16 trillion in the past year. The central bank is also buying $1.25 trillion of securities tied to home loans.

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.

Original Language

Paul said he intends to introduce an amendment to the bill when it comes to the House floor for a vote restoring the legislation’s original language.

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Thank you

I hadn't made that connection. Same dude. Yeah, he had a bad attitude.

Michael Nystrom's picture

Going Viral - Dig at 122

http://digg.com/politics/Federal_Reserve_Policy_Audit_Legisl...

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts

I have a question,

which I also posted on another thread regarding this subject.

How is it that someone who is not an author of the bill, can "gut" the language of the bill, without the author's consent, or the consent of all the co-sponsors?
Where does Watt get this authority?

I think this is strange.

However, IF it is possible for any house member to "gut" the language of any bill arbitrarily, then I think that Dr. Paul needs to start gutting the language of every single bill that enters the House.

Michael Nystrom's picture

Keep digging. Digg @ 92 - just made popular

This was made popular 4 minutes ago.

Keep digging & it will go viral
http://digg.com/politics/Federal_Reserve_Policy_Audit_Legisl...

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts

They must learn to fear us

They will never fear us because we keep patronizing their services. Until we learn to step out of their mechanisms we will be enslaved by them.

Rev 18:4 And I heard another voice from the heaven saying, “Come out of her, my people, lest you share in her sins, and lest you receive of her plagues.

~I'd rather die at the hands of terrorism than enslaved by my own government.~

~I'd rather die at the hands of terrorism than enslaved by my own government.~

Words Don't Work

Not surprised by this. This is the way they work. Read my book, "In The Teeth Of The Wind--A Study of Power and How To Fight It". But thereafter, the judiciary became so corrupt that you can't get relief from them.

Now the political/electoral system is completely shot and people are still talking stupidly about "conservative" and "liberal" and "right" and "left", which are all meaningless words. You are either for big government or for limited government. For slavery or for freedom. That's it. Democratic/Republican mean nothing. Ron only ran on the Republican ticket because he knew he would get more attention. He was a previous LP nominee and that's what he is--- a person who favors limited government and freedom

What's left. Two big Mass Demonstrations. One in Washington and one in NY.

I'm talking about Millions of people.

I don't think this will work either and something more drastic will be necessary. At least the BIG demonstrations hasn't been tried. If these don't work there is no doubt that a resort to milita and to arms will be required.

The masses are so stupid--they keep playing their game. There appears to be only a small number of individualistic Americans.

I am not optimistic for the future. The next wave of depression is inevitable. Spending must be stopped and the dollar strengthened--even if it means a default on our bonds. Or they stop paying interest.

All of the debt must be forgiven so that we can start over.

Sheldon Waxman
sheldonw72@gmail.com
www.independentcontractor.info

>:(

if Ron Paul has had time to comment on the removed provisions... where's the angry statement from "Big Balls" Grayson?
We need some of these Democrat co-sponsors to show some anger too!
****************************************
I'd rather have a bottle in front of me than a frontal lobotomy

I'd rather have a bottle in front o' me than a frontal lobotomy
www.tattoosbypaul.com
www.bijoustudio-atx.com

Screw an Audit, Let's Just end it.....

This just goes to show that the Fed holds entirely too much power.....it is unconstitutional, tyrannical and dangerous and must be ended.....we need to ramp up our energy to organize and promote these End the Fed protests they need to be huge and loud.....I'm afraid of what the reprecussions from this action are going to be but I think that they have shown blatant and disrespectful disregard for our concerns about the financial state of OUR REPUBLIC!!!!! END THE FED!!!!!END THE FED!!!!!!!!

Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God. I know not what course others may take, but as for me, give me liberty or give me death.”
– Patrick Henry, speech to the Virginia Convention

“The Internet is the first thing that humanity has built that humanity doesn't understand, the largest experiment in anarchy that we have ever had." - Eric Schmidt

We should continue our focus

We should continue our focus on auditing the fed. If we can't get it audited when 75% of the people and 308 cosponsors supporting the bill, how can we end the fed? Changing the focus doesn't help.

So, does anybody still think

So, does anybody still think we can change all this by "voting" or peaceful protest? The den of vipers in D.C. won't stop until they ARE stopped. I know a couple of FEMA camps that would be a perfect place to transfer every g.d. of them effective immediately.

Ron Paul is my President~

Doc Holladay
Nashville, TN
http://www.myspace.com/docholladaymusic

www.reverbnation.com/docholladaymusic

Truth is treason in an empire of lies.

Sadly, most folks still do

I don't know why people won't just quit paying their bills. EVERYONE can do that. Refuse to use the stupid currency. Offer to work any other form of payment they like, but refuse to trade in FRNs. If we picked a day, educated the masses, and did it en masse... even a tiny percentage would ripple through their toy economy.

Truth exists, and it deserves to be cherished.

i feel like i've been punched in the gut - hard!

...just watched jive's video ~ great video jive ~ really ~ thanks!

so WHAT IS THE AMENDMENT that ron has introduced?

i don't see it anywhere!

Ron Paul is my President

Ron Paul is My President

Figures.

I've been wondering why things were so quiet this week. Like many others I was expecting this.

Soooo, anyone still think peace is going to miraculously fix this mess?

"Let them hate so long as they fear." ~Lucius Accius~

The enemy is playing for time

Seems to me the enemy is playing for time. All they have to do is keep putting these kinds of stumbling blocks in the way, whilst concurrently continuing the agenda. That way, if they're lucky, by the time Ron Paul's bill is finally voted on, it'll be too late anyway. The damage will be done.

I agree with the commenter who said words to the effect that it is impossible to win when playing by the rules which the enemy dictates.

F**k Watt, time for some

F**k Watt, time for some REAL HORSEPOWER!

~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~

DUGG 49 A prudent man

DUGG 49

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3

"Mischief springs from the power which the monied interest derives from a paper currency which they are able

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

http://watt.house.gov/con...

http://watt.house.gov/contactinfo.asp

(704) 344-9950 Charlotte number

Just sent out Jives video to all my contacts.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

So the Fed got to this guy apparently...

I always wondered what form of trickery would be used to repel this bill.

One thing we know is that the Fed is not standing idly waiting for this bill to be voted on.

I'll get a message to my congressman right away to demand the original bill be re-instated.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

This is the last straw! It's time to water the tree of liberty!

" In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot." - Mark Twain

"Liberty, when it begins to take root, is a plant of rapid growth." - George Washington

Is anyone surprised?

You all knew this was going to happen some day

=======
"The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of the ruin which has overwhelmed all those that have preceded it."

- Robert E. Lee, 1866

=======
RON PAUL 2012

I am not surprised...

I expected something like this.Let's face it friends...the bankers own the place lock stock and barrel. As long as the group we have in Washington now remains there, there will be no truth or justice forthcoming. We have a big problem.

I'll be calling my rep

Monday. Somebody post a reminder thread.

Defend Liberty!

my question is... what do

my question is... what do they have to fear?

AUDIT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

( just for you vlbc)

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

The Truth (all liars fear it)

-I favor extending to Israel the same honest friendship that Jefferson and the Founding Fathers urged us to offer to all nations. ...This means I also favor discontinuing foreign aid to governments that are actual or potential enemies of Israel,--Ron Paul

"Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern." ~~C.S. Lewis
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

We need an EMERGENCY STOP button...

Like on a large piece of industrial equipment... when it is out of control you hit the button, (they are located in many locations on the equipment) and all things halt!
The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.

The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.

That is Mario Savio principle

---------------------------------
Fuck the Enlightenment
Viva la Renaissance

---------------------------
F*** the Enlightenment
Viva la Renaissance

Warn your rep the watering

Warn your rep the watering down process has begun and to support Ron Paul's amendment to restore the original language.