Ron Paul in the Financial TimesSubmitted by Gus G on Wed, 07/15/2009 - 02:22
Call for Fed transparency grows louder-
To conspiracy theorists, the Federal Reserve is a dangerous, shadowy and unaccountable organisation - like the Central Intelligence Agency but without the black helicopters.
For more than 200 years, central bank critics have railed about an alleged lack of transparency, a threat to the fabric of the US by un-elected moneymen.
For more than 20 years, Ron Paul, the Texan Republican, has been trying to pass a bill that would audit the Fed's monetary policy decisions. He says US citizens need to know more about the inner workings of the organisation. But he has had little support.
However, in the past 12 months the possibility of more oversight of the Fed has dramatically increased. No longer confined to conspiracy theorists - or the small libertarian wing of Mr Paul - it is now the view of mainstream politicians...
Congratulations to Ron and his supporters for reaching the tipping point on this subject. We need to push the ball over the goal to score