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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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Digg Digg Digg DIGG DIGG

Bloomberg

Your's truly's impromptu video

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

you were a little red

LOL, thank you! Dugged, I mean Digged.

How is it

even possible for someone to do this?

I wasn't expecting the counter-punch either

But, in all heavyweight fights, the loser is going to land some shots. We took a bad one on the chin today, but the odds are in our favor, even if the judges are all on the take. I can feel a tingling in my hand right now, the knockout punch is coming, maybe not this round, but before the end of the fight. We were bound to get bloodied up a bit before we finish this thing

Repeat - YouTube video call to action - please forward

Please forward to everyone on earth.

http://www.youtube.com/watch?v=dLwBLQ6DZjI

FORGET WATT. We'll deal with him later.

Right now, start writing, calling, and leaving messages for House Reps, demanding that they vote to re-instate the original language. Until instructed otherwise by Dr. Paul, we need to stay on their case 24/7.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

thanks

for making this and bringing it to the attention of the Youtube world!

Freedom is NOT free!

I'll be happy to forward Thompson a copy of bloomberg

Do you have any suggestions what else to say to Mike about this? I posted his 2nd letter to me... I received it this morning.

I don't think Thompson is lying.

Seems to me RP wants to write an admendment...

It's an agreeable way to buy time, as Thiompson said was the plan and Frank said such.

Tell him 75% of the American

Watch the video.

Tell him 75% of the American people want the bill in its original form. Tell him that the bill in its original form has 308 co-sponsors in the House. The marked up bill is completely, totally gutted. Tell him we demand a vote on the original bill. He must vote to bring Ron Paul's amendment to a vote, and then he must vote for the amendment.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Thank you Jive

I'll tell Mike! Thank you

First Of All Flood Mel

First Of All Flood Mel Watt's Offices And Tell That "K" Street Whore That Weather He Reinstates Or Not he is Gone Come next Term.We Will Not Put Up With This Crap..We Love Ron Paul; And What he Stands For. He is Fighting For Us And Our Republic And We Will Have The last Say..

You Hear Us Mel ??

First Thing Monday Morning, I Gonna Crap All Over His Desk (Figure Of Speech)..And Tie Up His Phone Lines..

Go Getem Patriots.

"We Shall Have Liberty"

"And By The Eternal God I Will Root You Out.." ~Andrew Jackson, 1837

"The Pearl"

That may help you blow off

That may help you blow off steam, but it won't get the bill repaired. For that you need to contact Representatives to demand that they bring Ron Paul's amendment to re-instate the original language to a vote, and then vote for it.

I do not know if he even can change his markup at this point, but even in the unlikely event that he did, it would be a tiny "compromise." We want it back. All of it.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

My God, my God! Our free country is gone. Banks rule congress.

Debra Medina for Texas Governor 2010!

Rand Paul for US Senate in Kentucky!

Ron Paul 2012, Join or Die!

DONT TREAD ON ME

AN APPEAL TO HEAVEN - WASHINGTON'S CRUISERS

YouTube Call to Action

Please forward to everyone on earth.

http://www.youtube.com/watch?v=dLwBLQ6DZjI

FORGET WATT. We'll deal with him later.

Right now, start writing, calling, and leaving messages for House Reps, demanding that they vote to re-instate the original language. Until instructed otherwise by Dr. Paul, we need to stay on their case 24/7.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Lay low, rev up the faxes, and strike

This is Art of War territory.

Pick a few representatives. Get together with their constituents. Send a few faxes on Monday. A warning shot.

And as soon as it is reported to the floor for debate... START burnin' electrons!

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

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

Art of War, yes, but we know our enemy...

There's a reason why these Fed-related posts have come late on a Friday evening, rather than during a typical business news day. They are hoping that we will let our guard down over the weekend and come Monday this will be a small footnote in the headlines, or a watered-down headline that serves the establishment's purposes.

I think we need to go viral with this NOW online via Facebook, Digg, the blogs, wherever you can post it. We can't wait around for Monday to send off a few token faxes to our "representatives" and wait for a move by the enemy. We need to confront this counter-attack with everything we have and let the enemy know that we can't be pushed around. Moreover, we need to let the people at large know that we are to be taken seriously.

"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

contact him

WASHINGTON
2304 Rayburn HOB
Washington, DC
20515-3312
Tel. (202) 225-1510
Fax (202) 225-1512

1230 W. Morehead St.
Suite 306
Charlotte, NC
28208-5214
Tel. (704) 344-9950
Fax (704) 344-9971

301 S. Greene St.
Suite 210
Greensboro, NC
27401-2615
Tel. (336) 275-9950
Fax (336) 379-9951

Freedom is NOT free!

If ever a time it's now,

If ever a time it's now, BOMB DRUDGE REPORT to headline this!!!

.
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

Done. Now I'm leaving

Done. Now I'm leaving messages for congress critters.

I did a Youtube. It's uploading.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

ANYTHING to make this

ANYTHING to make this viral!!

.
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

It was too good to be true

I think we all knew that this would happen...

Get busy

FORGET WATT. We'll deal with him later.

Right now, start writing, calling, and leaving messages for House Reps, demanding that they vote to re-instate the original language. Until instructed otherwise by Dr. Paul, we need to stay on their case 24/7.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Michael Nystrom's picture

Contact Congress

Get the info for your rep here:

http://www.auditthefed.com/?mode=actionpage

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
reedr3v's picture

Legislation's gutted, Constitution's

gutted, Representation's gutted.

This is unforgivable

What is needed now is protest. Gentlemanly, but loud, loud protest at this guy's office.

there's nothing to worry about......

i've been checking out this site for 2 years. i've seen the master plan time and time again in all the "get the anarchist off this site" threads. you guys are going to find 300+ people just like Ron Paul, get them to run for office, elect them to office and they will make everything better. i just hope the people who believe that continue to ignore the fact that at every turn when we tried to play by "their" rules we lost. i mean look at the great news coming out of NV today. they're finally going to count the delegate votes for the NV GOP convention.

i know a lot of people will call me a troll because i haven't posted anything in a year. but i don't see how contacting your rep is going to help at all. we did that for the bailouts and they still passed it. 308 congressmen and women co-sponsored this bill. yet one man was able to gut it to nothing. are you going to continue thinking they're going to let you vote yourself out of this mess? stop participating in their phony elections. stop ignoring the fact the machines are rigged. that they'll adjourn an entire convention to prevent us from winning. it's time to turn our backs on them. voting only encourages them.

No matter who you vote for, the government always gets in - Bill Hicks

Forget Watt. Stay focused

Forget Watt. We'll deal with him later.

Right now, start writing, calling, and leaving messages now for House Reps, demanding that they vote to re-instate the original language. Until instructed otherwise by Dr. Paul, we need to stay on their case 24/7.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Can someone please explain

Can someone please explain to me how this works? How is it that some chump take over the language and intent of the bill. I don't know the mechanics of the process. Please explain.

Michael Nystrom's picture

Read this

http://www.dailypaul.com/node/81594

[W]hen you’re looking at the process by which any bill gets passed into law, on the House side at least there are only a few people who really matter. Those people are the majority leader, the chairman of the relevant “committee of jurisdiction” (i.e. Energy and Commerce for the oil industry, Financial Services for Wall Street firms, etc.), the chairman of the Rules Committee, the chairs of the House-Senate conference committee, the House Speaker and perhaps a few other members of the conference committee....

Continue:

http://www.dailypaul.com/node/81594

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Michael, thanks for the technicalities, but this is a revolution

" 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

This bought and paid for

This bought and paid for scumbucket looks tough to intimidate
From Wikipedia:
Controversies
Gerrymandered district
The 12th district, in its original configuration, was criticized as a gerrymandered district. It was originally drawn in 1992[3] as a 64% black majority district stretching from Gastonia to Durham. It was very long and thin as it followed Interstate 85 almost exactly.[4][5] The Wall Street Journal called the district "political pornography" and Supreme Court Justice Sandra Day O'Connor called the district's shape "bizarre" during the course of the eventual United States Supreme Court case involving the district, Shaw v. Reno. The district was thrown out as unconstitutional in 1996 and has been redrawn several times. Regardless of the district's configuration, Watt has had virtually no difficulty winning re-election in the always heavily Democratic district.

Hard to put much pressure on someone with a pliant electorate built specifically for him.

Also, from Wikipedia:
Ralph Nader incident
In 2004, Ralph Nader attended a meeting with the Congressional Black Caucus, where he alleges that Congressman Watt twice uttered an "obscene racial epithet" towards him. It was alleged that Watt said: "You're just another arrogant white man — telling us what we can do — it's all about your ego — another f--king arrogant white man." Although Nader wrote a letter to the Caucus and to Watt asking for an apology, none was offered.[6]
Political positions
Opposition to increased oversight of Fannie Mae and Freddie Mac
In 2003 Watt vehemently opposed efforts by the George W. Bush administration and Congressional Republicans to increase regulatory oversight of Fannie Mae and Freddie Mac.[7] "I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing", Mr. Watt said.[7] Watt said that "Brad Miller and I were at the forefront of that more than anybody else in America" in trying to prevent the financial crisis, despite the fact that Watt's stated position was against an increase and more oversight for high risk lending.[8]

This trash pile is about as bad as it gets. Playing the race card to enrich himself and his cronies by agitating for massive wealth transfers from his (presumably less well of) black voters to a bunch of predominantly white Wall Street welfare queens. Wonder how many in Mr. Watt's district are stuck in debt slavery or have been foreclosed on, and is unemployed, so that this piece of fertilizer gets to be feted in Washington by the banker trash preying on them.

Anyway, as our corruptocracy has dealt us this scum, I agree with Jive_Dadson that we are probably better off focusing our efforts on others in Congress, and route around this stinking trashpile.