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H.R. 1207, the Audit the Fed Bill

2009 November 4


The demand for an audit of the Federal Reserve has been growing over the past year. H.R. 1207, the Audit the Fed bill, has gained 308 co-sponsors. Recently, I have read that while moving toward a vote in the House of Representatives the bill has been stripped of some very important provisions. Here is what I have seen:

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.”


However, Rep. Ron Paul says that the fight is not over yet! Take a look at his response to this situation below.


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