“To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States before the end of 2012, and for other purposes.”
On June 25, the House of Representatives overwhelmingly passed Rep. Ron Paul’s HR 459 to Audit the Federal Reserve 327 to 98. It is now time for the Senate to act!
Demand the Senate to bring S. 202 to a vote and pass the bill. It is the responsibility of the Senate to hand this ever-important Federal Reserve Transparency Act to the President.
The Federal Reserve Transparency Act would demand our Central Bank, the Federal Reserve, to undergo a full audit and have the findings reported to Congress — the branch of government that is responsible “to coin Money [and] regulate the Value thereof.” (US Constitution, Art. I, Sec. VIII, Cl. IV).
The Congress created the Fed, our third central bank, in December of 1913 — upon the passage of the Federal Reserve Act the Congress had formally delegated their constitutional monetary responsibilities to an institution that is not a part of government at all — the Federal Reserve operates independently of the US Government, yet has full government protection. Protection enough that established the Federal Reserve Note, our dollar, as the only legal tender in this country.
The Federal Reserve was created t