Audit the Fed Bill "Gutted"

By Bonnie Kristian at 11:17AM

Oct 31, 2009

I guess we kind of knew it was coming, but this is still disappointing:

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.

Read the rest here. Excuse the language, but damn, I hate the state.

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Excuse my french...

But DAMMIT!!!

:-(

Submitted by Tom Baurain on October 31, 2009.

Come on!! You are all still delusional that we are operating in a democratic republic! This is tyranny. We have been under a dictatorship for a very long time. Our energies must go into educating the people not in useless efforts. We must revolt. Stand up for your rights!

Submitted by Deborah (not verified) on October 31, 2009.

I wonder how much longer it will be before we start seeing Tolstoyian non-violent resistance to the Fed (i.e. sit ins).

Submitted by John M (not verified) on October 31, 2009.

WE NOW HAVE OUR ANSWER: THE PEACEFUL POLITICAL PROCESS DOES NOT WORK.

Submitted by Barry Kuzay on October 31, 2009.

I agree with Barry that it is impossible to rely on any state in the long-run, but in my opinion, electing minarchist libertarian non-creeps like Schiff and Rand Paul is a good idea. They can bring more people over to the radical libertarian side, and the anarchocapitalists can take it from there.

Submitted by Matt Cockerill on October 31, 2009.

re:matt's plan for the radical libertarian invasion...

young people are the most leftist, statist pro-establishment pro-corporatist pro-big government tyranny generation ever. Just look at their advocacy for universal healthcare, net neutrality, and other big-government corporatism.

http://www.washingtonexaminer.com/opinion/columns/Millenials-are-the-coming-statist-generation_-7965773-50645727.html

So it's not gonna happen via the political process. Too much government school and pop culture indoctrination. As time goes on, small government older folks will die off, and younger people are more statist and will increasingly take over.

I think the best reason for optimism is the decentralization of information that the internet allows - without gatekeepers and with greater communication, various niches, such as libertarianism, can grow and like can group with like and so on.

Libertarians can have their free state project in NH. And maybe more places later on to fill demand. Statists can have their free lunch project in California and Detriot and so on (they will fail, but hey they tried).

Submitted by Jack (not verified) on October 31, 2009.

$#%@#$@#@#$@# WATT!!! @#$#!!$#%@# FED!! Then what does this bill do, the GAO already has authority to audit everything but the things that Watt took out of the language. He has susecessfully turned a bill into a resolution, all words and no teeth.

Submitted by Shaun Bowen on October 31, 2009.

Let's just hope that they'll allow Paul to stick that amendment restoring the original language... if not then the audit will be in serious trouble...

Submitted by Andrew Smith on October 31, 2009.

I am sad to say that this man is my supposed "representative"...

Too bad there is essentially no way to convince him otherwise; he's a statist idealogue (unrealistically beleives the state can take care of everything).

The pressure is going to have to come from the rest of Congress to put in the bill the original text.

Submitted by Jared Fuller on October 31, 2009.

I still feel somewhat optimistic. The bill has the support of a majority of Americans, and we do have a lot of the Congress as well. It seems to me that there is an inevitable showdown between Watt and Paul, but Paul, for the first time in years, has the upper hand. Here's to keeping our fingers crossed that liberty will prevail!

Submitted by Andrew Smith on October 31, 2009.

We need to recruit the 9.12ers and Tea Partiers and other Americans into our movement. We can do this by hosting "For Liberty" in local theaters and with groups and by getting in contact with meetup groups.

Submitted by Anonymous (not verified) on November 2, 2009.