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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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I was afraid of that.

Paul should de-sponsor the bill. That should get some attention.

Defend Liberty!

They would be happy if he

They would be happy if he did. He has said he may have to vote against his own bill.

What are we waiting for??

What are we waiting for?? How about we treat "Audit the FED" like a presidential election? Money bombs, blimps, NASCAR racing, etc.?!!

.
Trust in God, but tie your camel tight.

http://www.campaignforliberty.com/user/BeaReady/
http://www.ohiofreedom.com/subd/

Trust in God, but tie your camel tight.

"Socialism needs two legs on which to stand; a right and a left. While appearing to be in complete opposition to one another,they both march in the same direction." - Paul Proctor

Sunday, Nov. 22nd is National End the Fed rally Day

12 Cities.

I will be attending the one in Philly. Make this the BIGGEST one ever!!! Hand out fliers about the Bloomberg "gutted audit bill" article, and urge everyone to call their Reps. If you do not live near a Fed city, have a mini rally Friday afternoon outside your Reps office to supplement the weekend message.

RP R3VOLution

TJ our confirmed speakers for Philly include Jacob Hornberger...

Larken Rose, Jake Towne, William Kern, Dr. Liberty....and a few others along the march route. We are calling it the "Constitution rEVOLution Tea Party" spread the word far and wide! Should hit all the meetup groups, PArevolution, etc...by Monday.

For liberty,

robpatozz
www.Libertyis.org ~ what does Liberty mean to you?
www.trueworldhistory.info
www.campaignforliberty.com
www.endthefed.us

Hey, our representatives

Hey, our representatives voted for the TARP original bailout, against 90% of the people, so it dosen't suprise me that they will gut HR1207.
It just connects another dot that makes the picture crystal clear.

They don"t GIVE A DAMN about We The People!

One step closer to having to water the TREE!

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

Im po'ed

"Of all the enemies of true liberty, war is, perhaps, the most to be dreaded, because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few.... No nation can preserve its freedom in the midst of continual warfare." James Madison

Freedom is NOT free!

How much mor abuse will we take?

This report from Bloomberg eliminates all doubt that the American People are locked in mortal combat with a socialist cabal (the Democratic Party) hell bent on destroying the United States and our way of life.

Over three hundred house members have co-sponsored the Audit The Fed Bill. Thirty Senators have co-sponsored its sister bill in the Senate. Fully seventy five percent of the people (in numerous national polls) support both bills. Who gave anyone, in either congressional house, authorization to change one damn word? Nobody...... that's who!

Having read the article one must ask oneself...
How many more insults will I take? How much more abuse will I stand for? How many more reasons do I need before I will commit to throwing this scum out of office in November of 2010?

When will enough finally be too damn much?

It is evident to the most casual observer that the only thing the den of vipers on Capital Hill understand is scorched earth. I suggest we give them exactly that!

You Lost Me....

You lost me at "Democratic Party". Pleae cease with your uneducated promotion of te false left/right paradigm.

D or R it matters not, they all server their Central Banker masters.

Allison

http://SmArgus.com

"None are so hopelessly enslaved as those who falsely believe they are free." - Johann Wolfgang von Goethe

Allison Bricker

http://SmArgus.com

"None are so hopelessly enslaved as those who falsely believe they are free." - Johann Wolfgang von Goethe

Bumpity Bump Bump!~

ACTION REQUIRED!

The Funny Thing is...

For a guy named 'Watt' who has a head shaped like a light bulb...he's not very bright.

Do 'owner financing' where

Do 'owner financing' where ever you can. Cut the banks OUT all together.

.
Trust in God, but tie your camel tight.

http://www.campaignforliberty.com/user/BeaReady/
http://www.ohiofreedom.com/subd/

Trust in God, but tie your camel tight.

"Socialism needs two legs on which to stand; a right and a left. While appearing to be in complete opposition to one another,they both march in the same direction." - Paul Proctor

"Those who make peaceful

"Those who make peaceful revolution impossible will make violent revolution inevitable". John F. Kennedy

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

So much...

...for paying taxes.

If this passes in "gutted" form I'll begin my own personal tax revolt.

If there are more bailouts and "stimulus" packages I'll also stop paying my two credit cards.

If they pass the Health Care "reform" bill I'll begin actively fighting for secession.

I'm sick of this crap.

Unbelievable!

I guess it shouldn't be surprising that this happens late on a Friday. We should use the weekend to be well organized for Monday!

Bank of America HQ in Watts district

Isn't the ironic?! Well, whataya know?

Every time I start up Quicken there's that wretched Bank of America logo appearing as come collaborative effort between Intuit and BoA.

If there was some way to get away from Quicken and MS money I'd do it.

Hopefully this will demonstrate to all that political action

is easily thwarted when it offends our masters.

I have numerous times pointed out that the USA is on the road to civil war, and it is naive to think that citizens are going to be granted freedom by playing the political game against those who run the game.

When the burden of slavery becomes intolerable for a large enough portion of the population there will be only one path of least resistance; we are nearing, but have not yet quite reached the revolution point.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

If it comes to a floor amendment to restore the wording ...

... I want to see a roll call vote.

Having to explain their vote to their constituents should make it hard for the critters to vote against the restoration.

= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."

That means: For each job "created or saved" about five were destroyed.

when you write to him

use Charlotte NC with this zipcode 28246 use this to write to him http://www.house.gov/formwatt/IMA/issue_subscribe.htm

Freedom is NOT free!

Reply to article

I just faxed this to Congressman Watt

Dear Congressman Watt,

I just heard that you, are eliminating “just about everything” from Ron Paul's bill HR1207, while preparing the legislation for formal consideration. I think that this is unacceptable. We will not go away, because we demand that the Federal Reserve be audited. These people must stand accountable before the American public, I think that this action will ends your tenure in congress, and also any other congressman that goes along with this cover up. More than 75% of the public want to know what is going on with the federal reserve. We have been lied to, and our wealth has been taken away from us by a bunch of corrupt bankers. We know the truth about fractional reserve banking, which has devalued 96% of the dollar since 1913, and our money is backed by nothing. Since the interest rates are controlled by the federal reserve, that causes inflation, and inflation is a hidden tax. If you think that you are going to brush this bill aside and or water it down, I think that this will be a very big mistake. And if you do this, then we the people will know that you are in the pocket of the Federal Reserve.
drflash1949

well said

!!!

Debbie's picture

Yes, excellent letter!! Thank you for posting.

.

Debbie

We must persist! That was a

We must persist! That was a fighting blow by the establishment now we must CHARGE!!!

Mises.org
Know your stuff, learn real history and economics @LibertyClassroom.com

RP knew this was going to happen,

so I hope that he has several alternative options, besides this amendment, in how to respond. After watching his performance in various hearings, I must conclude that Watt is one of the dumbest people to ever step foot in Congress. And that says something considering the competitors for that status. This man is a disgrace and should be put on trial for corruption and, ultimately, treason. College textbooks use his district as a fine example of gerrymandering.

Debbie's picture

My God, what does that say for his constituents who

voted for him???

Debbie

I think it is we

that have to come up with options and alternatives and one is to continue to remind these morons who they work for and what we want. We will NOT settle for this.

Watt an idiot

Remember the first HR1207 Hearing? I have never heard so many "ums" and butt kissing in my life, that guy is a sycophant to the highest degree. Bernake has a rent controlled penthouse in Watts back pocket.

Debbie's picture

Oh, now I remember him!! He was such an embarrassment!

Good grief!!!!

Debbie