San Diego, CA (PRWEB) October 12, 2012
Audit the Fed is an idea first introduced by former presidential candidate Ron Paul. When Ron Paul dropped out of the presidential candidacy, Mitt Romney began supporting the Audit the Fed bill in an attempt to pick up some Ron Paul supporters.
Audit the Fed Bill passed the House in July, and now is being stopped from a meaningful vote in the Senate by Harry Reid, who previously was an adamant supporter of the Bill. But why?
Online commentator and libertarian advocate, http://www.SuccessCouncil.com, reacts with a strong online video response slamming Reid for being a hypocrite. In the video, Success Council makes the argument for the Audit the Fed bill and explains Harry Reid’s hypocritical statements.
To watch the full video, visit: http://www.youtube.com/watch?v=Xvd5xFSwKcg&feature=share&list=PL1zCD-urlm3jUAE-MpWaP_PyOx7CncHQB
HR 459, the Federal Reserve Transparency Act of 2012, is the Bill to Audit the Fed. Introduced by Congressman Ron Paul, the Audit the Fed Act hopes to audit the printing of money and the manner in which loans are made to a bank. The Audit the Fed Bill also plans to “audit the Board of Governors of the Federal Reserve System and the Federal reserve banks.” HR 459.
More specifically, the Audit the Fed bill will require the Comptroller General of the United States to conduct an audit of the review of loan files of homeowners in foreclosure in 2009 or 2010.
The audit will consider the Board of Governors’ and other consultants' advise to the banking system when considering loans. It will also take into account the financial devastation of homeowners.
Ben Bernake, chairman of the Fed, doesn’t want the Audit, and has said, “We think we are quite transparent… My concern about the legislation is that if the GAO is auditing not only the operation aspects of the programs and the details of the programs but making judgments about our policy decisions, would effectively be a takeover of policy by the Congress and a repudiation of the independence of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation.”
Of course, the Libertarian view is exactly the opposite, and on the floor of the House Financial Services Committee Ron Paul (Audit the Fed’s author) said, “Transparency in monetary policy is a goal we should all support.” He went on to point out that, “The dollar today is only worth .4 cents compared to the dollar the Fed started with in 1913.”
The Bill has been proposed in every session of Congress in the last decade. On July 25, 2012, the bill passed in the House 327 for, 98 against. The Bill will move onto the Senate, where Harry Reid is the Senate majority leader.
Considering the overwhelming pass of the Bill in the House, and the fact that Mitt Romney also supports the Bill, you would think Harry Reid would agree. And, in fact, seventeen years ago, on Jan. 23, 1995, Harry Reid stated, “I have sponsored legislation that would call for an audit of the Federal Reserve System. I think we should audit the Federal Reserve…. There is no entity in the world that controls our lives more than the Federal Reserve System.”
Senate Majority Leader refuses now to put it to an up or down vote on the Senate Floor. This has spawned a very strong response from http://www.SuccessCouncil.com, where they recently released this video: http://www.youtube.com/watch?v=Xvd5xFSwKcg&feature=share&list=PL1zCD-urlm3jUAE-MpWaP_PyOx7CncHQB
The video has an incredibly strong call to action, and is becoming a viral slap of the Senate Leader’s face. Success Council maintains its position that the Fed should be audited, and that the vote should be put to the Senate for a yes/no vote.
About Success Council:
Success Council was founded in 2012, with the goal of teaching people how to protect their assets and profit from the greatest wealth transfer in history. Their mission is to: 1) Educate 10 million people through their online interactive training events; 2) Make 100,000 families wealthy through the information contained in their Members’ Area; 3) Create 5,000 leaders armed with the knowledge, skills and resources based on the fundamentals of liberty; and the ultimate goal, is to 4) Create One Free Society.
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