The decision could reveal the truth about the Federal Reserve–Infowars.com – July 25, 2017
MARKET WATCH-House panel passes bill to audit the Fed –Published: Mar 29, 2017
A House panel on Tuesday approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank.
The House Committee on oversight and government reform passed the measure by voice vote after roughly 30 minutes of debate.
The bill was the brainchild of Ron Paul, the former House Republican and libertarian presidential candidate and sharp critic of the U.S. monetary policy. Versions of the bill have twice passed the House by wide margins but then stalled due to lack of support from Democrats in the Senate and the Obama administration.
Analysts said the measure has a better chance to become law now that Republicans control both houses of Congress and the White House. Paul’s son, Rand, the Republican senator from Kentucky, has introduced a similar measure in the Senate.
“It is ironic that the arsonists that caused the financial collapse are now being given credit…for putting out the fire.” Rep. Thomas Massie
Democrats in the committee were firmly against the bill.
“This bill would open the floodgates to political interference in monetary-policy making,” said Del. Eleanor Holmes Norton, a Democrat from the District of Columbia.
Rep. Carolyn Maloney, a Democrat from New York, said the measure would lead to higher interest rates because it would undermine the market’s confidence in the independence of the central bank.
Republicans said the measure was needed to rein in the Fed.
“It is ironic that the arsonists that caused the financial collapse are now being given credit…for putting out the fire. Almost every macroeconomist concedes in retrospect that [the Fed’s] extended period of easy money led to the financial crisis,” said Rep. Thomas Massie, a Republican from Kentucky.
While Ron Paul’s 2012 bill stalled and died due to Democrat control of both the Senate and the White House, the 2017 bill has no such hurdles in front of it. In fact, Trump has expressed his support for auditing the fed when Kentucky Senator Rand Paul – son of Ron Paul – introduced companion legislation to Massie’s bill in the Senate in the form of S. 16 at the start of the year.
Furthermore, if – and likely when – the bill comes to the Senate, Paul will likely have the support of Democrat Vermont Senator Bernie Sanders, who has expressed support for the bill as well, and will likely attempt to sway a number of other Democrats to his side.
WIKIPEDIA-The Federal Reserve Transparency Act of 2015 (H.R. 24) was a bill introduced in the U.S. House of Representatives of the 114th United States Congress by Congressman Thomas Massie (KY-4). It included proposals for a reformed audit of the Federal Reserve System (the “Fed”). The Senate version was introduced by Senator Rand Paul (R–KY). (S. 264).
source-infowars, brandon morse, stephen dinan