Would the media be lauding the passing of this bill that would once and for all let the American people know what goes on at the Federal Reserve, or would they let the good citizens know this bill is lacking the necessary audit of monetary policy, the one thing that could prevent the Federal Reserve from causing future busts in the economic cycle.

Leave it to the mainstream media, both sides of the aisle, to misinform. Look at the following headlines for proof positive there are big money sources working against letting the Federal Reserve cat out of the bag.

Washington Post: “Victory for Audit the Fed”

Forbes: “Ron Paul Gets His Wish – The Fed Will Be Audited”

Huffington Post: “Ron Paul Backs Fed Audit Compromise”

Source

Source

Source

Every single one of those title’s is misleading and plain wrong.

What Ron Paul Really Said

Ron Paul did not approve of the Sanders amendment.  He knew it didn’t go far enough. Sure, he would have voted for it, but the Vitter amendment was the carbon copy of the original H.R. 1207 bill that received bipartisan support in the House.  This is what Ron Paul wanted to pass, but failed to win support in the Senate.

Taxpayers are sick and tired of bailing out privileged, dysfunctional institutions that should be allowed to fail in order to stop their ability to wreak havoc on our economy.  Perpetuating these corporations at taxpayer expense is not just wasteful, it is actively harmful.  It would be good to know what went on in the past, but what about accountability in the future?  A one-time disclosure now will not do us a lot of good down the road when the cycle repeats itself and friends of the Fed find themselves in trouble again.

More importantly, agreements with foreign central banks are not touched by the new Sanders Amendment language.  At a time when Greece, Portugal, Spain and other countries are experiencing dire financial crises and have their hands out to the international community, we need to know if our Federal Reserve is at all involved in bailing them out.  As weary as we are of bailing out companies, the American people would not stand for bailing out entire countries. Our government is wasteful enough in its own affairs without contributing to the waste of other countries.  Yet the Fed currently has the tools it needs to do just this, and to do it in secret.

Ron Paul Source

Is anyone else putting the pieces of the puzzle together?

What are you going to do about it come November?

Related posts:

1. An Open Letter To Sellout Congressman Bernie Sanders On Auditing the Fed
2. Why Don’t The Elite Want the Fed to be Audited?
3. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t

Unfortunately, what Sanders facebook fans don’t realize is this amendment does not audit monetary policy, the one thing that H.R. 1207 and the Vitter amendment would have audited. In other words, the folks at the federal Reserve are smiling, including Ben Bernanke who approved of the Sanders amendment.

To rub salt in the wound to all who have worked hard at getting the original  “Audit the Fed” bill to pass the House with bipartisan support, Senators Bernie Sanders and Judd Gregg were doing the media circuit today receiving pats on the back.  They were enjoying congratulatory remarks from all the journalists who don’t have a clue about the monetary policy of the Fed and their manipulation of interest rates being one of the main culprits for the bust to begin with.

The Federal Reserve is just a con game and We the People will pay for their past and future mistakes through higher taxes and higher inflation.  Thank you Sanders and Judd….and future generations will be thanking you too for decades to come…except not in the manner you expect!

Mr. Sanders,

People are cheering for your victory with the passing of your bill 96-0 but in reality the Paul/Grayson amendment, H.R. 1207, would have gone much further in addressing auditing Federal Reserve monetary policy. Your bill does nothing towards that end.

Even though you voted for the Vitter amendment, you are a sell out to the Dodd and Gregg power elite of the Senate who refuse to work on behalf of the People in restraining the Federal Reserve, the cause of the bust to begin with.

The result of such negligence will be seen in a weakening dollar, a Federal Reserve balance sheet full of risk and more and more power handed to the entity that wreaks havoc on the entire economic system.

Congress has no clue what will occur because they can’t see the forest through the trees. We the People can and will remove from office those who do not adhere to the principles of Sound Monetary Policy.

It’s a shame you had no fight in you to stand for the principles of H.R. 1207, Ron Paul and Alan Grayson. Our nation will reap what Dodd, Gregg and the others who voted “NAY” to the Vitter amendment sow.

Thank you for voting yes. It falls short of me recommending anyone vote for you in the future because of your succumbing to the power elite. J.P. Morgan is smiling in his grave.

Related posts:

1. Left and Right Media Misinforming Public About Auditing the Fed
2. Senate Shoots Down Vitter Amendment; Vote the Bums Out!
3. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t

An attempt at pulling the wool over the People’s eyes I had discussed yesterday has succeeded.   See The Federal Reserve Con Game

Don’t be fooled by the media’s attempt to sugar coat any audit with a quasi attempt like what is being pushed through Congress now and supported by the White House.

Know the difference.  Contact your senator now!

Watered Down Version Passes

It turns out, the Sanders Amendment, known as the watered down version of the original Audit the Fed bill, H.R. 1207 that passed the House in a bipartisan vote, was passed with a 96-0 vote.

The concern from those who wanted the Fed to be audited was the fact the Sanders amendment would not address monetary policy.  Monetary policy is the one thing Bernanke and the Fed have been keen on keeping out of any Fed audit bill. They succeeded.

Who Was Most Vocal Against the Original Audit the Fed Bill?

Two of the most vocal against the original Audit the Fed bill proposed by House members Ron Paul and Alan Grayson were Senators Chris Dodd (D-CT) and Judd Gregg (R-NH).  These two senators had nothing to lose with their outrage at this bill from the get go as neither of them are running for reelection in their states.

Excerpt from that video:

Gregg; You know the only thing that’s not audited is monetary policy.”

Paul; It’s the only thing that counts.”

Gregg; The only part that’s not subject to the political influence of the Congress auditing it, is monetary and open market.  Why?  Because an independent Fed is critical to a stable monetary system.

Paul; Look what you have. Where’s the stability?

Paul; The Constitution puts the responsibility of the value of the dollar on the Congress, not some secret body or international orginization to deal with our money (Paul is referring here to IMF, Special Drawing Rights to be discussed in a forthcoming article).

Result of Sanders Amendment: No Monetary Policy Audit

Good Riddance Dodd and Gregg

Dodd would have been annihilated by Peter Schiff in the Connecticut Senate race come November.  Judd was not looked upon favorably in New Hampshire.

What I really ponder is what hidden deals have these outgoing Senators have made with their corporate masters in setting up the next leg of their careers.  You can bet they will somehow be taken care of.

Please note that Senator Brown from Massachusetts voted with the Democrats….again.  Talk about your one time Senator.

Defeat Can Only Lead To Victory

In the end, the failure of the Vitter amendment to pass is not going to stop me from going after those who voted “nay” to this bill.  These people need to be voted out of office.  They are allowing an entity that is quasi-government in nature to garner more and more power while at the same time causing the bust to begin with.

At some point this will come crashing down on all of us.

Will I be writing an article at that point in time telling everyone “I told you so?”  The answer is no.  Why?  Because I’m going to be doing something about it now in completing my book “Fed Up!” with the intent of waking people up to what’s really going on with Congress and the Federal Reserve.

Don’t Vote for Any of Those Who Voted “NAY” Below Come November – Throw the Bums Out!

Grouped By Vote Position

Related posts:

1. An Open Letter To Sellout Congressman Bernie Sanders On Auditing the Fed
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t

Perhaps CNBC’s agenda today was to discredit Ron Paul’s appearance in the morning where he debated former Fed governor Mishkin and Senator Gregg on his Audit the Fed bill, H.R. 1207 with 317 bipartisan cosponsors and 79% of the People wanting the Fed audited.  The Senate version is S.604.

Since Ron Paul got the best of those two during that morning CNBC interview, perhaps CNBC got some flack by some powerful people and decided to bring on another opponent of the Federal Reserve being audited, the aforementioned Mort Zuckerman.

Zuckerman was telling the CNBC audience that “if the Fed raised rates it would be a disaster for the economy.”  Technically, it would be a disaster for your commercial real estate holdings there Mort, but Mort’s right, it would be a disaster for the economy.

The Fed is stuck between a rock and a hard place.

If the Fed raises interest rates too quickly to support the U.S. Dollar, it will bring the economy to a screeching halt.  Consumers, who have in the past made up 70% of GDP, wouldn’t be able to borrow.  Small businesses and big businesses alike would see their cost of doing business would go up.  But the Fed’s only option if the U.S. Dollar were to break down is to raise interest rates to satisfy their two biggest creditors, China and Japan.

Does Zuckerman Represent the People?

The reality is, Zuckerman and the Fed don’t want you to know is which banks are in trouble so behind the scenes the Fed can secure more time to bailout the troubled institutions.  It’s a good old boys network and the connections are obvious to most.  Just Google Goldman Sachs “bailout” or “bonuses” to get yourself up to date.

There have been over 130 banks that have failed this year and that’s even after the original TARP money that was supposed to go towards “toxic assets” went instead to shore up the banks cash balance sheets.

I remember going into troubled WAMU bank when Chase first said they were going to take them over and overheard a teller doing some soliciting of funds from clients and offering to pay them 6% on a CD.  6%?  In a climate that at most Treasuries were paying 3.5%?  This shows you how hard up these troubled banks really were for cash.

Earth To Zuckerman

Zuckerman though would have you believe Fed interest rate manipulation wasn’t the original cause of the crisis.  Perhaps he should read the book “Meltdown” by Thomas Woods.  While there were other reasons for the bank failures, like lending to any human with a pulse and repackaging those loans to suckers on Wall Street, it was the artificial lowering of interest rates by the Fed that originally spurred on the real estate speculation causing the boom and eventual bust cycle.

Zuckerman Wants the Fed to Get Special Treatment That the SEC Wont Even Give U.S. Corporations

Zuckerman calls the six months lag time in auditing the Fed “a very short time” that would “undermine the independence of the Fed.”

Well Mort, aren’t all corporations in America required to file Form 10-Q for quarterly reports under Section 13 or 15(d) of the Securities Exchange Act of 1934?  Don’t shareholders of banks have the right to know what’s going on with their bank, especially if it is in trouble and secretly receiving funds from the Fed?   Then why shouldn’t the People of the United States also know what’s going on with the one entity that destroys the purchasing power of the U.S. Dollar?

Zuckerman Believes the Fed Is Our Savior.

Transparency is something that Zuckerman would have you believe is only for others, not for the elite.

Zuckerman wrote an article two days ago for the Financial Times called; “We must safeguard the Fed’s independence.”

He glorifies the Fed for getting us out of the financial mess when in fact it was the Fed that got us into this mess to begin with.  He even goes so far to say;

“The House proposal seeks to have the General Accounting Office audit all Fed operations, including emergency lending, dealings with foreign central banks, aid to major institutions and the Fed’s ability to drive down interest rates by intervening in bond markets.” (emphasis added)

This is exactly why the Fed needs to be audited.  If they were truly trying to prevent unemployment, by following their mandate of full employment, then they would let the free market do what it does best; weed out the bad companies by allowing them to fail and let the good companies prosper without government regulations and interference.  The free market will weed out those companies that don’t perform as expected.   What Zuckerman is afraid of is the Audit the Fed bill will weed out the bad institutions, including the Fed!

Zuckerman goes on to say;

“Markets would reckon that US inflation would lead to higher interest rates. There would be pressure on the dollar, as investors back away from buying Treasury debt. Given the deficit, we are facing a run on the dollar that would be disastrous.”

Thanks Mort, for explaining what is going to happen in our future because of the Fed!

Don’t buy U.S. News and World Report.
Don’t buy the New York Daily News
Audit the Fed and make sure H.R. 1207 is a stand alone bill and not attached to a bill that gives the Fed even more powers.
Call your Senators and request they pass S.604.

Related posts:

1. Limbaugh and Hannity Still Favor The Fed and War While Most In America Don’t
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Why Don’t Limbaugh and Hannity Support Ron Paul’s Bill to Audit the Fed?

Why would these two pro-conservative, highly influential media pundits not say one thing about the Audit the Fed bill winning a vote in the Financial Services Committee to be included as part of another bill?  This is big news and has a real impact on our economy if it passes.

75% of Americans want this bill to pass and only 9% opposed it.  15% were not sure how to vote and I would speculate this is because they really don’t understand the Federal Reserve and what it does.  Most in America don’t.

I’ve been asking Limbaugh and Hannity since July as to why they don’t support the Audit the Fed bill and they continually refuse to bring up the subject to their listeners who follow their every word.

Why don’t they support the bill?

Because it would allow the monitoring of the one entity that allows the neoconservative arm of the Republican Party to fund their beloved wars and Congress to continually spend what they don’t have.  And not to leave out the neo-liberal arm of the Democrat Party as they love war too, there was also no mention of the Senate Finance Committee vote by Rachel Maddow, the Keith Olbermann Show (who had a guest host), or Joy Behar.

No Mention By the Media, So What Would an Audit of the Fed Actually Accomplish That Makes Them So Afraid?

It is the Audit of the Fed that is necessary to keep the Fed from handing out favors to connected individuals and keeping failed businesses afloat.  But it is the End of the Fed that is necessary to keep Americans from experiencing these boom and bust cycles and depreciation of our currency via inflation that really has them scared.

Auditing the Fed is the first step in taking back control from the folks who cause the problems to begin with.  Ending the Fed will guarantee that Congress doesn’t possess the tools that are turning us into serfs.

There is no way in hell the health care bill will pass if Congress had to actually use tax dollars to fund it.  There is no way in hell that our troops would be in 130 nations and we’d be fighting two wars and threatening more if Congress actually had to use tax dollars to fund them.

How is it that Limbaugh and Hannity don’t ever mention this?

How is it that most in the media don’t mention this? Why are some so upset that this bill is garnering bipartisan approval?

Watch this video and see what Senator Judd Gregg (NH) had to say about the Fed on CNBC.  He said that “one of the great strengths of our nation is an independent Fed.”  Nothing could be further from the truth folks. It is individuals like Senator Gregg that are fooling you into thinking the Fed is necessary for monetary policy.  Is it any wonder that Gregg also believes that the War on Terror and WMD are of greater concern than the deficit and voted yes on the Bush bank bailout bill.  The Fed is at the root of the problem, not the solution.

These are the people that we elected who are in collusion with the Fed as their adamant support of  the Fed allows them to continue to fleece the American public.

What would Congress be able to do without the Fed?

The only real answer to this would be, live within their means.  Wouldn’t the dollar automatically be stronger and maintain its purchasing power if this were to occur?

Does the Fed Existence Interfere With Your Freedom?

I believe that those of us who truly want personal liberty, limited government, free markets and a strong national defense will be continually pressed to follow the Limbaugh and Hannity mantra of war unless we curtail the entity that gives Congress the ability to fund wars.

It is through the exposure of Limbaugh and Hannity’s lack of support for a bill that can change the course of America forever that I hope to win over those who have been swayed away from what the Republican Platform used to stand for;  Limited Government, Fiscal Conservatism, Personal Liberty and a Strong National Defense and get them to return to their Republican roots of getting us out of wars and living within our means.

The goal here is to take back the Republican Party from those who hijacked it.

It is only through this kind of action that we can return America to what it used to be and build her back up with a strong foundation built upon a fiscally responsible Congress.  I will be going into more detail on this in my forthcoming book, “Fed Up!”

What Needs to be Done Now

The way to get the things on the right track is to keep exposing the economic weakness of the Left. But at the same time, mandating that the candidate for the Right will hold true to fiscal responsibility. Not George W. Bush fiscal responsibility, but fiscal responsibility that any educated individual can get behind.

No candidate from either party can hold to fiscal responsibility until the means to which they are allowed to spend more than they have loophole is closed. The “means” referring to the Federal Reserve.

This Audit the Fed bill would be the first step to tie the hands of all candidates, both left and right and again, is something that only 9% of Americans oppose.

Flashback January 2008

There was a candidate for President that did have all the answer of what our nation needed to do.  He was the only Republican candidate that wanted to “just bring our troops home.”  He was the only Republican candidate that understood economics and schooled John McCain on economic policy.

Yet this candidate was mocked by Sean Hannity.  He was never promoted on either Limbaugh’s or Hannity’s shows.

His name is Ron Paul.

I used to continually debate people on Michelle Malkin’s website warning them that the Republicans don’t stand a chance of winning with the same pro-war mantra that lost them the House and Senate in 2006.  This prediction came true as John McCain, the one who wanted to “bomb, bomb, bomb, bomb bomb Iran” was soundly defeated by Obama.

Now we are stuck with a nightmare of spending that if the People don’t start pressuring their Congressman soon, will lead to major problems for the dollar.

My first blog, January of 2008 was in support of Ron Paul and his “message.” The Ron Paul rEVOLution, Super Tuesday and “The Message!”

I was warning people back then as to what the Fed can do to cause harm to our nation.  The message then was about “eliminating the tool of destruction, the Federal Reserve.”  Just look what has happened since then!  Now the Fed wants even more power. Don’t let them have it!

Implore your Congressman to make sure this Audit the Fed Bill passes….or else make sure they are replaced by a Freedom Loving candidate who understands economic policy and monetary policy!  This candidate may not have the financial backing of the military industrial complex and those Wall Street and Union lobbyists, but they only need your vote.  Do your homework and find out who they are and what they stand for.  Ask questions!

For more information on asking your current Congressman questions and directing them to do what most in America want, Audit the Fed, contact them via the Campaign For Liberty website.

Hannity and Limbaugh need to support the Audit of the Fed bill to be taken seriously in their attempts at being “conservatives.”  Remember, they really didn’t say too much when Bush was doing all his spending and taking away our liberties.

Hold their feet to the fire and continually ask them why they don’t support it.  I believe I know the answer, but I’d like to finally hear for once their take on it.  It’s been over three months and I don’t expect to hear them talk about it anytime soon.

Are we supposed to believe they are in the best interest of Conservatives when they won’t advertise getting rid of the one main entity, the Federal Reserve, that is bringing down our nation?

I’ll give you the answer from Sean Hannity now….

Comment by Doug Digger Eberhardt on 8 August 2009:

I decided to join Sean Hannity’s discussion forum and ask the question why Hannity doesn’t support H.R. 1207.

Here’s the questions I asked:

Why doesn’t Hannity support the Audit the Fed bill?

I’d like to see him support it too, but I think there’s more to it than meets the eye. I wrote an article on the subject recently.

http://fedupbook.com/blog/federal-reserve/why-dont-limbaugh-and-hannity-support-bill-to-audit-the-fed/

Maybe he doesn’t want to be associated with anything to do with Ron Paul, the author of the bill?

Yet over 60% of the House supports the bill and 75% of the American people do according to a Rassmussen poll.

I’d just like to hear if anyone has heard him even talk about it…

The result? Click the following url to see:

http://docs.google.com/View?id=dd8ngkwz_5fcz9v372

For those that can’t click or can’t read it, the result was that I was “banned for life.”

I guess Hannity doesn’t like it when he’s challenged…

Audit the Fed then End the Fed!

Feel free to comment and discuss….

Related posts:

1. Why Don’t Limbaugh and Hannity Support Ron Paul’s Bill to Audit the Fed?
2. Left and Right Media Misinforming Public About Auditing the Fed
3. Why Don’t The Elite Want the Fed to be Audited?