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S.202 Viability - Jon Kyl's words

The following is to inform you of the response I got in the mail from Sen. Jon Kyl, who I asked in July to support Rand Paul's Audit the Fed bill. Here's what he said:

https://docs.google.com/open?id=0B4FreIfirsmRTHRYblpaN2R0b28

Basically, he states that the regulatory and administrative budgets of the Federal Reserve System are audited yearly already, EXCEPT for the monetary and foreign policy. Obviously he's trying to minimize that issue, even though not auditing the Fed's monetary policy is like not searching the apartment of a bomb-maker. Sure you see them when they go out and buy milk and go to the movies, but do you really know if they're innocent if you don't look for the evidence?

Furthermore he states that a political audit might cause hyperinflation. Fff-WHAT?!?! Where did that come from.

S.202 won't get passed without the support of veteran Senate Republicans like Kyl and at least partial support from flip-flopping Harry Reid's Democrats.

I did my part. Please do whatever else you can.



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I received the same

letter some time ago. I know he will not vote for S 202. He sold his soul a long time ago.

if hyperinflation does occur,

if hyperinflation does occur, it will just be the market correcting to what it should be...

Kyl

Gotta Go!

It's time! Rand Paul 2016!

"Truth, Justice, and the American Way!"

Not running

Kyl is not running for re-election this Fall. Jeff Flake has won the Republican primary, pretty much a Kyl clone.

Funny

as if the Fed isn't politicized already?!

I have both of my senators(R) numbers on speed dial, and I call them daily on s202.
Today was the first day I informed them that it's now part of the GOP platform adopted in Tampa.

That will look funny when they end up not supporting their own party's platform.....

I'm not a conspiracy theorist, I'm just well-informed

Hmm...

"Basically, he states that the regulatory and administrative budgets of the Federal Reserve System are audited yearly already, EXCEPT for the monetary and foreign policy"

They conduct annual audits of the Fed's operations, except for their monetary policy....lol wtf? What is there to audit other than their monetary policy? Their pencil and paper budget?

"Furthermore he states that a political audit might cause hyperinflation."

Probably someone on his staff mentioned to him that all the Paulites are worried about hyperinflation, so he brings this up to scare us off auditing the Fed. But, then again, it could well be that an audit would bring to light certain things which are so damaging to the reputation of the Central Bank and the dollar than it does cause a currency crisis and perhaps hyperinflation. Really, who the hell knows what all the Fed's bought in the last few years? For all we know, they could have been buying the entire treasury issuance in secret through front-companies, not just the several trillion they admit to having bought. The same with MBS, agency debt, et al.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."