Ron Paul Leads Hearing On First Ever Audit Of Fed

Ron Paul Leads Hearing On First Ever Audit Of Fed

Texas Congressman and 2012 presidential candidate Ron Paul held hearings Tuesday into a recent and rare one off audit of the Federal Reserve’s crisis-response emergency lending programs of 2008.

In his role as chairman of the Domestic Monetary Policy subcommittee, Paul relished the glimmer of transparency that was afforded as part of the Dodd-Frank Act, signed into law last year.

“More people now are starting to realize that the Fed isn’t independent of political independence because indirectly and some times more directly it is involved in political decisions or at least private decisions to serve some political interest.” Paul told those gathered at the hearing.

Along with Paul, Republicans in attendance argued that the audit should pave the way for regular reviews of the Fed’s policies, as well as more complete disclosure of exactly who has received upwards of $27 trillion in bail out funds since 2008.

“Would it be much of a problem if we were doing this every year?” Paul asked.

Robert Auerbach, Professor of Public Affairs at the University of Texas, backed Paul up by putting the case that regular and ongoing audits would not affect the Fed’s independence in any major way.

“The Fed’s mythical flag of independence from politics, a favorite Fed mantra to avoid individual responsibility, is merely a shield intended to protect the institution from being forced to act in a more transparent fashion,” Auerbach testified.

Rep. Blaine Luetkemeyer, Republican of Missouri, expressed concern that although the GAO’s audit authority is now expired, some banks and firms that “borrowed” from the Fed, and by extension the American taxpaying public, as part of the Bear Sterns and AIG relief packages, have yet to pay back the funds.

Luetkemeyer also noted that the one time GAO audit was extremely limited in its scope.

Nevertheless, the GAO’s report found several instances of conflicts of interest and questionable practices involving Fed officials.

It was also revealed that the Fed made $16.1 trillion in secret loans to Wall Street firms at the height of the crisis.

The full hearing, beginning with Ron Paul’s opening statement, can be viewed below:


[ame="http://www.youtube.com/watch?v=PUVWJGBZWQA"]Fed Audit Hearing Oct 4 2011 - YouTube[/ame]
Continued

Comment: Go Get those Bansters Ron, END THE FED

 

He's not "auditing the fed" he's looking into emergency loans and bailouts that the Fed has performed over the crisis. He's on a fishing expedition to try and catch Bernanke lying or covering something up, or just digging up something to complain about, some odd dollar amount we gave the Euros for instance or something.

No one is fooled we know what that kook wants, to destroy the monetary system the entire planet relies on for global trade and turn us all into a bunch of overly protectionist, nationalistc tribes ruled by an Aggressive China that he won't fight back against.

 

According to this they are audited regularly.


http://www.publiceye.org/conspire/flaherty/flaherty6.html


Of course it also says every year congress tries to get an audit but it is outvoted each and every time too. So who is telling the truth, and/or exactly who's interests are being looked out for?

 

Utter nonsense.

The Fed is audited by Big 4 national accounting firms, the GAO, the OIG, and its own internal auditing staff for years.

http://www.politicalforum.com/unite...e-audit-fed-operations-emergency-actions.html

Where do people get these ideas?

 

Wonder how many sets of books they have?


One for their eyes only,

One for the governments eyes only,

One for the public/private auditors to view,

And one to destroy in case China/Russia invade???

 

the Op says a "hearing on" , and Bernanke lies all the time, but nothing happens.

You do understand the Fed is a crime racket don't you? They make money out of nothing and charge us interest on it. And use us as the backing for their ill gotten profits. Our Founders fought these folks at our birth, they got us in 1913.

• "I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." – Thomas Jefferson

• "Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." – Daniel Webster

• "Whoever controls the volume of money in any country is absolute master of all industry and commerce." – James A. Garfield

• "All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." – John Adams

http://www.wnd.com/news/article.asp?ARTICLE_ID=50935




Banking & Federal Reserve Quotes

"The entire taxing and monetary systems are hereby placed under the U.C.C. (Uniform
Commercial Code)" -- The Federal Tax Lien Act of 1966

"The few who understand the system, will either be so interested from it's profits or so dependant
on it's favors, that there will be no opposition from that class." -- Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" -- Mayer Amschel
Bauer Rothschild

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States" -- Sen. Barry Goldwater (Rep. AR)


"Whoever controls the volume of money in any country is absolute master of all industry and
commerce." -- James A. Garfield, President of the United States

"Banks lend by creating credit. They create the means of payment out of nothing" -- Ralph M.
Hawtrey, Secretary of the British Treasury

"To expose a 15 Trillion dollar ripoff of the American people by the stockholders of the 1000
largest corporations over the last 100 years will be a tall order of business." -- Buckminster Fuller

"Every Congressman, every Senator knows precisely what causes inflation...but can't, [won't]
support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him
his job." -- Robert A. Heinlein, Expanded Universe

"It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford

"The regional Federal Reserve banks are not government agencies. ...but are independent,
privately owned and locally controlled corporations." -- Lewis vs. United States, 680 F. 2d 1239
9th Circuit 1982

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". -- Congressman Louis T. McFadden in 1932 (Rep. Pa)

"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen.
There is not a man within the sound of my voice who does not know that this nation is run by the
International bankers -- Congressman Louis T. McFadden (Rep. Pa)

"Some people think the Federal Reserve Banks are the United States government's institutions.
They are not government institutions. They are private credit monopolies which prey upon the people
of the United States for the benefit of themselves and their foreign swindlers" -- Congressional
Record 12595-12603 -- Louis T. McFadden, Chairman of the Committee on Banking and
Currency (12 years) June 10, 1932

"[Every circulating FRN] represents a one dollar debt to the Federal Reserve system." -- Money
Facts, House Banking and Currency Committee

"...the increase in the assets of the Federal Reserve banks from 143 million dollars in 1913 to
45 billion dollars in 1949 went directly to the private stockholders of the [federal reserve] banks." --
Eustace Mullins

"As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities
at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new
[checkbook] currency, which alleviated the critical famine of money and credit, and the factories
started hiring people again." -- Eustace Mullins

"Should government refrain from regulation (taxation), the worthlessness of the money becomes
apparent and the fraud can no longer be concealed." -- John Maynard Keynes, "Consequences of
Peace."

"By this means government may secretly and unobserved, confiscate the wealth of the people,
and not one man in a million will detect the theft."--John Maynard Keynes (the father of 'Keynesian Economics' which our nation now endures) in his book "THE ECONOMIC CONSEQUENCES
OF THE PEACE" (1920).

"These 12 corporations together cover the whole country and monopolize and use for private
gain every dollar of the public currency..." -- Mr. Crozier of Cincinnati, before Senate Banking and
Currency Committee - 1913

"A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated
in the hands of a few men. We have come to be one of the worst ruled, one of the most completely
controlled and dominated governments in the world--no longer a government of free opinion, no
longer a government by conviction and vote of the majority, but a government by the opinion and
duress of small groups of dominant men." --President Woodrow Wilson

"We are completely dependant on the commercial banks. Someone has to borrow every dollar
we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous;
if not, we starve. We are absolutely without a permanent money system.... It is the most important
subject intelligent persons can investigate and reflect upon. It is so important that our present
civilization may collapse unless it becomes widely understood and the defects remedied very soon."
--Robert H. Hamphill, Atlanta Federal Reserve Bank

"The Federal Reserve Banks are not federal instrumentalities..." -- Lewis vs. United States
9th Circuit 1992

"The Federal Reserve banks, while not part of the government,..." -- United States budget for
1991 and 1992 part 7, page 10

"The Federal Reserve bank buys government bonds without one penny..." -- Congressman
Wright Patman, Congressional Record, Sept 30, 1941

"The Federal Reserve system pays the U.S. Treasury 020.60 per thousand notes --a little over
2 cents each-- without regard to the face value of the note. Federal Reserve Notes, incidently, are
the only type of currency now produced for circulation. They are printed exclusively by the
Treasury's Bureau of Engraving and Printing, and the $20.60 per thousand price reflects the Bureau's
full cost of production. Federal Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar
denominations only; notes of 500, 1000, 5000, and 10,000 denominations were last printed in
1945." --Donald J. Winn, Assistant to the Board of Governors of the Federal Reserve system

"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just
a piece of paper. Deposits are merely book entries." -- Modern Money Mechanics Workbook,
Federal Reserve Bank of Chicago, 1975

"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President
[Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst
legislative crime of the ages is perpetrated by this banking and currency bill." --
Charles A. Lindbergh, Sr. , 1913

"From now on, depressions will be scientifically created." -- Congressman Charles A.
Lindbergh Sr. , 1913

"The financial system has been turned over to the Federal Reserve Board. That Board asministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923

 

Nope, they have never been. insiders taking care of insider business, isn't truthful.

 

Being that the owners of the fed own our government. Will criminals tell the truth of their crimes?

 

Just because it's not done by somebody you think you can trust doesn't mean they are not covering their butts. Most of the books used by government/private entities, who play the game read like fairy tales anyway. Unless you are one of the insiders, you will never be privy to the information you want to expose.
　
　
Paul pushes too hard and it wouldn't be too much of a stretch of the imagination that he would be pushing up daisies, before he actually found something substantial.

 

Well I hope Ron does well. The owners of the fed are the architects of the destruction of the United States as well as most other nations. The wars we fight are theirs and they want to enslave the world with UN Agenda 21 and global government under their control. So Ron is in danger but so are we, the owners of the fed want us all dead or in their chains.

 

"Ninety percent of quotes that you read on the Internet are crud" - Abraham Washington

 

We Should Never Let Anything In Government Go Without An Audit!

 

We're worth more to them by thinking we have freedom, liberty, and justice, and arguing over which political party/god is better.

 

Who's not an "insider" that you contend should do the audit of the Fed instead of Deloitte and Touche, the GAO, and the OIG?

 

I swear. If that single sentence isn't the most inane example of flabbergasting double-talk I've ever read, I'll eat my keyboard.

 

Well the Fed isn't even part of the government and that should scare people more. It believes it is above the government, well its owners own our government.

Organized Crime

[ame="http://www.youtube.com/watch?v=J2fjxaRLpQo"]RON PAUL - THIS WILL MAKE YOU ANGRY! - YouTube[/ame]

 

I'm really supposed to beleive that harmless Ben Bernanke is a would be Oligarch of a one world Government?? LMAO

 

No one is fooled we know what that kook wants, to destroy the monetary system the entire planet relies on for global trade and turn us all into a bunch of overly protectionist, nationalistc tribes ruled by an Aggressive China that he won't fight back against.



That has got to be the single most ignorant statement that I have ever seen on these forums.

 

How so? He's been quoted plenty of times wanting to destroy the Fed, and would shrink our power-projecting capability to no power projection capability.

 

These are good threads to sniff out shills. I'm just posting so I can keep track. If nothing could be done to stop it when it 1st started, as we still had some genuine representation then, I don't know what we can do about it now. The only thing I can think of is using closet nationalists within the system to supply targets to take out. It is a problem of the shadows. That is where the war must take place.

 

If you are actually serious, then you need to do a little more research. By that, I don't mean watch more tv.

 

There is only so many hours in a day and Faux or C(ronyism)NN entertainment/propaganda news is on all of them.

 

I knew that but it works hand and hand with the criminals

 

1 question.
Did the founders want a central banking system to run our gov't or not?

 

They were divided on the issue.