Do you support Ron Paul's effort to have the Federal Reserve audited?

Question

Even if you don't necessarily like Ron Paul, isn't this a good idea?? So we know HOW they spent TRILLIONS over the past few months.

Ron Paul recently proposed HR1207 (The Federal Reserve Transparency Act of 2009) which would audit the Federal Reserve. The bill currently has over 30 co-sponsors and could pass the House with enough support from the people.

http://www.govtrack.us/congress/bill.xpd?bill=h111-1207
http://thomas.loc.gov/home/gpoxmlc111/h1207_ih.xml

"Well first of all, the Federal Reserve is an independent agency, and that means basically that there is no other agency of government which can overrule actions that we [Federal Reserve] take. So long as that is in place and there is no evidence that the administration or the congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't frankly matter."

-Alan Greenspan

http://www.youtube.com/watch?v=ol3mEe8TH7w

Answer 1

Why our elected officials and the CBO does not already have the ability to audit the Federal Reserve is beyond me. They are effectively a fourth branch of our government with complete control of our money supply. Only their chairman is selected by government officials but their board is not. They have the capability of destroying our economy or causing hyperinflation at the press of a button. They can refuse to answer questions directed at them by our elected officials when testifying in congress and there is nothing congress or we can currently do about it.



I would hope that the American people would want the people in charge of this nations entire wealth answerable for the things that they do.

Answer 2

I am a huge Ron Paul supporter, but I do not have enough information to determine whether to support this. Here is what I do know:



- The Fed is already very transparent. They make an announcement immediately after they implement fiscal policy. If it's already transparent, why fix it?



- Congress does not understand fiscal policy. Maybe it is better that they don't know what the Fed does until after it does it. Like a tornado, Congress destroys everything it touches.



- Ron Paul ultimately advocates a gold standard, but what many people don't realize, is that the U.S. dollar still is backed partially by gold. (Fact.)



I am leaning toward not supporting this bill because nothing is broken. If you don't like the dollar, hold gold and insist on gold for payment.

Answer 3

I'd support demolishing the Federal Reserve. What would be the point of anything less? They don't have to take orders from anyone, so what good would an audit do?

Answer 4

Our government needs a good audit. and fast. oh, Gov Sebilius, a Obama cabinet pick, also had some trouble fully paying her taxes. Ooops!

Answer 5

Yes I support it. I would also support action after the findings, but I suspect that would be asking too much.

Answer 6

No. But I would help the dear old man find his way back to his Assisted Living Facility. God shows Mercy for those who show Compassion for the Infirm at Mind and Body.

Answer 7

Even a broken clock tells the right time twice a day.

Answer 8

Sure...that would be a great start!

Answer 9

YES!