C-SPAN - the full length HR 1207 hearing!

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last week it was exactly 3 hours long????

Did they actually remove about 40 minutes??? Omg'd we are truly at the end of this 'unsound reality'. Let it all fall.

I also could not help but notice how Barny Frank reacted to Tom Woods, "bought off" comment. Almost like it was a personal comment on Frank. I'm thinking it was Frank who assured everyone that fanny and freddie were sound and solvent companies a short time ago. Reminds me of the old watergate question, "what did they know and when did they know it". I am not sure Frank is all for this, but with 300 co-sponsers how could he not bring it to a hearing? I just would have felt better about it had Frank not tore into Tom Woods and walked over his statement.

thanks.

Thank you, Dr. Paul, for your long, diligent, thoughtful, articulate and dedicated journey to bring this issue to the forefront of the GOA committee -- again, after the failed attempt in 1983.

I was extremely disappointed in the manner in which Alvarez responded to many of the questions presented to him. Most all of his answers began with the word, "So." He then proceeded to elude answering questions, directly, and spewed Rhetoric.

I was also disappointed in the manner in which Watts addressed Woods. Clearly, the audit would not be, necessarily, about numbers, but policy procedures and directives. That had been laid out at the beginning of the hearing. Such policy procedures and directives, however, often ultimately affect the numbers.

Woods also may have made a valid statement in regards to "being bought and paid for," referring to grants to economic research. However, he never had the chance to clarify himself.

The mention by the Chair "to wait for the Movie" was also quite puzzling to me. Did he mean a "future documentary; after the fact." That often is the case in the history of discovering what "really happens" within our country's political events. That, in itself, is extremely disheartening and has ultimately led to American's lack of faith in our Government.

I applaud Ron Paul for his long-held and tireless determination to strive for truth and uphold our Constitutional rights.

My children and grandchildren will bear the burdens or successes of what our country accomplishes or fails at today. Right now, I fear, if something isn't done to oversee and regulate the TPTB, including the FED, they will be dealing with the waste of our failure for a long time to come.

Watched some of the HR1207 hearing today.

One of the only questions Barney Frank asked Tom Woods was about the remark he made in his opening statement. Woods said something to the effect that anyone who does not support the audit of the Fed is bought and paid for.

Frank was the only one who was offended by this or should I say the only one who made a Federal case out of it. WHY?

One other Rep who ended up looking like a fool was Watt of NC.

Has he been one of the daily calls? If not he certainly needs to be.

When are the voters in MA and NC going to see the light and vote these Reps. out? Both districts deserve better than these two are giving them.

Good Work!
Please keep up with the phone calls to that knucklehead.

The easy way is to ask - What is the FED's track record since it's inception. Depressions, recessions, bubbles and bailouts, not to mention 95% devaluation of the dollar.

The other large piece of the puzzle that most people don't understand is the fractional reserve system. This is the other hand of the FED where the bankers lend IMAGINARY money to us on a 9 to 1 ratio. This is where the real money is made and why they are so obsessively GREEDY AND CORRUPT!

I did a quick check of Mr. Watt's top campaign contributors:
(drumroll please...)

3 of the top 4 include Bank of America, Wachovia Corporation and the American Bankers Association. (Source: opensecrets.org)

Shocking, isn't it? Yet, how many voters recognize they need to be looking at this before they assimilate what any particular representative has to say?

Opensecrets.org should be bookmarked on every voter's web browser. Everyone on this site should be intimately familiar with it, it's an extraordinary tool for educating your fellow citizens to political reality.

While I was at it I checked Congressman Paul's top donors.
They are, in order:
1. US Army
2. US Navy
3. US Air Force

We can see how menacing some congress members are, like Melvin Watt (D-NC), who clearly colludes with the Fed to the abandonment and neglect of his constituents' interest and their Constitutional protection of their property rights, would chew and spit out Tom Woods instead of the slippery worm, Alvarez, who never once answered any question 'substantively' as he accused Tom Woods.

Clearly this is the type of scum that the people in NC in the 12th district have to work hard to give the boot and this session is the proof of that reason.

To quote Mel Watt, House Representative from NC: "The question is not whether there will be some kind of increased audit of the Federal Reserve, but how that will take place."

It is great to hear other representatives thanking Dr. Paul for bringing the act forward, and to hear other representatives mentioning moral hazard. It's about time!

It shows the importance of contacting out reps about this issue.

In the video, Representative after Representative talk about how their consituents are asking about this.

One negative: I think the hearing did not make clear what the Fed actually does: e.g., print money. So I still think that few people really know this, and so it's difficutl to mobilize support to end the Fed.

'Audit the Federal Reserve' bill gains steam

By Jim Puzzanghera

"It started more than a quarter-century ago as just another far-out idea from decidedly outside-the-mainstream politician Rep. Ron Paul -- allow detailed congressional audits of some of the most sensitive activities of the Federal Reserve..."

http://www.latimes.com/bu...

has several links to the hearing
On you-tube search type in "HR 1207" and sort by newest.

"does the fed reserve manipulate the stock market?"

Anyone who is undecided wants to watch this clip.

http://www.youtube.com/wa...

I could watch/listen to this hearing 50 million times.

It's an inflation of commonsense!

Anyone notice that the camera angle is different in the c-span video?
You can't see the "protester" hold up the inflationary dollar behind Dr. Woods anymore.

Also I think the point of the audits is to come to the conclusion that the Fed is a useless institution and is actually counterproductive towards achieving its own objectives.

The Fed lawyer is objecting to the fact that GAO audits would affect monetary policy.... I wonder how much worse our monetary policy can get. Should we just keep letting the Fed continue to blow up these massive bubbles, and then bail out the banks when they pop again and again? Seems to me this simply amounts to a massive transfer of wealth from all of America to Wall Street.

How about Watt's advertisement for the fed giving out their website. Boy is he in the bag or what. They must have pictures of him in women's clothes.

/Mike

Front Fell Off
http://www.youtube.com/wa...

Ron Paul kicks ass.........

http://electricheadroom.b...

Pungent comments on today's hearings. Enjoy.

Watt Loves Woods:

http://www.lewrockwell.co...

How Sweet It Is:

http://www.lewrockwell.co...

A part from the slimey false creature of Alvarez who appeared instead of Bernake,Watts and Frank should be fired. How much money the FED shovels up their ass to behave like that? 6 digit, 7 digit? Anyway the printing is for free!!!!!

I really like questions that come from Alan Grayson.

Is anyone else just totally creeped out about Alvarez's demeaner?

http://www.youtube.com/wa...

Barney Frank doth protest far to much over the bought and paid for comment by Woods. Me thinks now that Frank was slapping Woods down because that remark resembled himself a little to close for comfort. While Woods and Paul were obviously in cahoots as students of Austrian economics and friends, Frank and Watts appeared to be in cahoots in some sinister fashion. I really loathed the way both Frank and especially Watts took Woods to task over semantics without ever allowing him space for an answer. From the getgo I thought these two characters, Frank and Watts, are wasting so much time on the record making long drawn out diatribes about absolutely nothing except their egos. I kept wondering about Watts' intelligence during his first spiel and whether he had the mental capacity to understand the subject and why he was even speaking on the issue. Then he came out with his agenda in favor of "Fed independence" . Later during his crazy admonishment of Woods, I couldn't help but think these dopes are really gonna get it in the blogs over at Lew Rockwell. I guess I should mosey over there and see what is being said.

Does anyone know how I can download this hearing?

Michelle Bachmann only read half of meltdown? I thought I remember hearing that she started reading it several months ago, why would she stop halfway? I mean, it is only 150 pages and Tom Woods has the easiest style of prose that i have ever seen for a historian discussing serious issues. It took me about 3 hours to read and i am not even that fast of a reader. I am happy that she is trying, but if she really wants to get it she should try harder.