Wednesday, July 25, 2012

Ron Paul’s Audit the Fed Bill Overwhelmingly Passes in the House

July 25, 2012

Ron Paul’s bill to audit the Federal Reserve has passed overwhelmingly in the House. It cleared a suspension of House ruled requiring a two-thirds vote. The final vote was 327 to 98 and all but one Republican and 89 Democrats voted yes. The bill had more than 274 cosponsors and faced strong opposition by Democrats and the Federal Reserve.

The legislation will allow auditors to conduct in-depth audits of the private bankster cartel’s monetary policy operations.

“The agreement granted the Government Accountability Office broad authority to examine the operations of the Fed and to require additional disclosures from the central bank, including examinations of the Fed’s discount window and its purchases and sales of government securities,” the Washington Post reports this afternoon.

Prior to passage, Ron Paul said Americans “sick and tired of what happened in the bailout and where the wealthy got bailed out and the poor lost their jobs and they lost their homes.”

“It’s time that we stood up to the Federal Reserve that right now acts like some kind of high, exalted priesthood, unaccountable to democracy,” said Rep. Dennis Kucinich.

It remains to be seen if the bill will become law. It needs Senate approval and a signature by Obama.

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