Rep. Ron Paul Texas Straight Talk: The Real Reasons Behind Fed Secrecy

Dr. Ron Paul discusses the historic moment last Friday in the House Financial Services Committee whereby his bill to fully audit the FEDERAL RESERVE, H.R. 1207 received its first hearing coupled with testimony from supporters and FED protectionists. As it stands currently, the law prohibits the Government Accountability Office (GAO) from auditing the FEDERAL OPEN MARKET COMMITTEE (FOMC) and all international transactions whether they are with a foreign central bank or foreign government. H.R. 1207 simply seeks to remove this secretive protection provided to the 3rd Central Bank of the United States, a power that allows the Central Bank to act as quasi-government, wholly shielded from public view.

Moreover, H.R. 1207 now enjoys co-sponsorship by 295 members of the House of Representatives, which as Representative Barney Frank (D-MA) indicated during the hearing, makes the FEDERAL RESERVE Transparency Act of 2009 a true bipartisan effort. In addition, momentum continues to grow for the Senate companion bill S. 604, which has thus far received co-sponsorship from one-fourth of the entire Senate.

Related Material(s):
	Rep. Ron Paul – Texas Straight Talk “The Real Reasons Behind Fed Secrecy” TRANSCRIPT (PDF 14Kb)

Source(s): House of Representatives, Office of Rep. Ron Paul, Texas Straight Talk • MinnesotaChris YouTube Channel