The Audit The Fed Bill Gets Passed By The House But Obama And The Democrats Are Going To Kill It

July 26th, 2012

FAKE NEWS for the Zionist agenda

Michael Snyder
The Economic Collapse
July 26, 2012

On Wednesday, Ron Paul’s bill to audit the Federal Reserve was overwhelmingly passed by the U.S. House of Representatives. The vote was 327 to 98. You would think that a bill with such overwhelming support would easily become law. But it won’t, because Barack Obama and the Democrats plan to kill it. Senate Majority Leader Harry Reid has already said that the Senate will not even consider the bill. But of course if Barack Obama called Harry Reid and told him that he wants this bill to get through the Senate so that he could sign it then Harry Reid would be singing a much different tune. Sadly, we all know that is not going to happen. Barack Obama’s good buddy Ben Bernanke called the Audit the Fed bill a “nightmare scenario” last week, and Obama is certainly not going to do anything to upset Bernanke – especially this close to the election. Obama needs Bernanke to do everything that he possibly can to stimulate the economy so that Obama will look as good as possible in November. The sad truth is that there is absolutely no chance that the Audit the Fed bill will become law and that is a crying shame.

So why is an audit of the Federal Reserve so important?

Why does Federal Reserve Chairman Ben Bernanke consider an audit of the Federal Reserve to be a “nightmare scenario” that must be avoided at all costs?

Well, perhaps it is because there has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.

The Federal Reserve has more power over the economy than anyone else in the country does, and yet they are virtually unaccountable and the American people have very little idea what has been going on behind closed doors over at the Fed for the past 100 years.

A very limited audit of the Fed that was passed a couple of years ago that examined transactions during the last financial crisis discovered that the Federal Reserve had actually loaned out more than 16 trillion dollars in nearly interest-free money to the “too big to fail” banks between 2007 and 2010.

Keep in mind that U.S. GDP for the entire year of 2011 was only slightly more than 15 trillion dollars.

The Federal Reserve loaned out trillions upon trillions of dollars to their friends and never told the American people about it.

Whoa.

You would think that Congress would be quite eager to see what else has been going on over at the Federal Reserve.

But instead, many Democrats are completely and utterly opposed to auditing the Fed any further.

U.S. Representative Barney Frank (a Democrat) seemed to regard the bill as a joke even after it overwhelmingly passed in the House. Frank stated that “nobody here thinks this will ever become law“.

According to Politico, there is zero chance that the bill will get through the U.S. Senate….

Senate Majority Leader Harry Reid (D-Nev.) has said the Senate will not consider the bill, effectively killing its chances of becoming law.

But we all know that if Obama wanted this bill to become law that it would be a done deal.

If Barack Obama came out tomorrow in front of the television cameras and declared his support for this bill it would sail right through the Senate.

Unfortunately, the Obama administration has made it very clear that it considers a comprehensive audit of the Federal Reserve to be a really, really bad idea.

For example, Treasury Secretary Timothy Geithner once stated that auditing the Fed is a “line that we don’t want to cross” and that if we did audit the Fed it would be “problematic for the country”.

So what exactly did he mean by that?

That is a very good question.

In any event, people should take this as an opportunity to confront Barack Obama about the Audit the Fed bill wherever he goes.

Perhaps Obama will prove me wrong.

Perhaps Obama will show that he is willing to stand up to the Federal Reserve.

In fact, if Obama gets this bill pushed through Congress and signs it into law, I will not criticize him for an entire month.

But we all know that will never happen.

The Federal Reserve is going to be able to continue to keep their secrets hidden from the American people.

The following is what Ron Paul had to say following the vote on Wednesday….

“I think the whole idea that they can deal in trillions of dollars and know that nobody is allowed to ask them a question is a moral hazard.”

And Ron Paul is right.

If the Federal Reserve can zap trillions of dollars into existence out of thin air and loan that money to their friends at the big banks and to central banks in other countries, then it should not be too much to ask them to be accountable to the American people.

Over the coming months, the American people will heatedly debate whether Barack Obama or Mitt Romney would be better for the U.S. economy.

But the truth is that the Federal Reserve has far more power over the U.S. economy than the president of the United States does.

The Federal Reserve has been called the “fourth branch of government” because of how much power it has. The Federal Reserve sets our interest rates, it determines the level of our money supply, it regulates and secretly bails out our banks, it determines the “target rates” for unemployment and inflation, and every small move the Fed makes causes global financial markets to swing wildly.

The Federal Reserve does all of this without ever having to be accountable to the American people. In fact, whenever a bill is introduced that would shed some light on their activities they whine and cry about how important their “independence” is.

In a previous article, I described how preposterous this all is….

For a moment, imagine that there is a privately-owned organization in the United States that can create U.S. dollars out of thin air whenever it wants and can loan that money to whoever it wants to. Imagine that this organization is able to act with the full power of the U.S. government behind it, but that nobody in the organization is ever elected by the American people, and that for all practical purposes the organization is not accountable to the president or to Congress. Imagine that the organization is able to make trillions of dollars of secret loans to banks, to foreign governments and even to their close friends without ever having to face a comprehensive audit. Does that sound preposterous? Well, such an organization actually exists.

The American people need to stand up and demand an audit of the Federal Reserve.

We deserve to know what is going on over there.

Sadly, the mainstream media makes it sound as if hell has a better chance of freezing over than this bill does of becoming law. The following is from a USA Today article that was posted on Wednesday….

The bill stands no chance of becoming law because the Democratic-controlled Senate will not take it up. The vote, however, served as a symbolic swan song for Paul, who is not seeking re-election. It is also an indicator of how Paul’s economic views have gone more mainstream, particularly within the Republican Party, in the wake of the 2008 financial crisis that shook Americans’ confidence in Wall Street and the federal government.

Well, let us hope that this kind of a bill keeps getting introduced in Congress.

Perhaps someday we actually will get a real audit of the Federal Reserve.

A d v e r t i s e m e n t

When that happens, the following is a list of questions that I would like to see asked by those auditing the Fed….

If the Federal Reserve is supposed to prevent shocks to our economy, then why have there been 10 different economic recessions since 1950 and why are we about to enter another one?

Was the Federal Reserve involved in the manipulation of Libor?

What role did the Federal Reserve playing in creating the housing bubble that resulted in an unprecedented housing crash?

Why has the value of the U.S. dollar fallen by 83 percent since 1970?

Why is the Federal Reserve paying U.S. banks not to lend money?

Why did Barack Obama nominate Ben Bernanke for a second term as head of the Federal Reserve when Bernanke has a track record of failure that makes the Chicago Cubs look like a roaring success?

Why is the U.S. national debt more than 5000 times larger than it was when the Federal Reserve was created in 1913?

Why were the Federal Reserve and the personal income tax both pushed through Congress in the same year in 1913?

Why does the Federal Reserve argue that it is “not an agency” of the federal government in court?

Why do all 187 nations that belong to the IMF have a central bank?

Do you have any other questions that you would like to have asked during an audit of the Federal Reserve? Please feel free to post a comment with your thoughts below….

Print this page.

Comment Rules

32 Responses to “The Audit The Fed Bill Gets Passed By The House But Obama And The Democrats Are Going To Kill It”

Forget the audit, END IT. The 100 year charter ends in 2013, at which time, since I do not have a say or a vote, I shall deem and pass myself tax exempt. I will not fund FREEDOM BOMBING, I will not fund BANKER/FOREIGN BANKER BAILOUTS, I will not fund LOSING TRUCK LOADS OF AMERICAN TAX PAYERS MONEY IN FOREIGN DICTATOR’S COUNTRIES, I will not fun any further BULL SHIT. The END. END THE FED AND FORGET THE SILLY AUDIT B.S.. Have a nice day, remember, deem and pass………deem and pass…..deem and pass……

Dandroid Reply:
July 26th, 2012 at 3:35 am

here here
This makes no sense. This bill has nothing to do with either party. It’s not like abortion, religion, and the other hot button issues that have clear lines within each party. If the dems kill this it will only be because of spite in that most republicans in the house supported it, which will be yet another reason why they should all be tied up and shot as the traitors to their country they are.

Matt

Lexington, ky

benth163 Reply:
July 26th, 2012 at 3:25 am

Bravo Mpennery, well said !!1

Vic Reply:
July 26th, 2012 at 5:43 am

THey made the choice to serve LUCIFER ?

Before the Fall Reply:
July 26th, 2012 at 5:59 am

Matt always submits excellent posts!
they ALL need to be arrested,
for treasonous economic saboteuring financial terrorism,
for funding terrorists in Mexico and the Middle East,
for constant violations of the Bill of Rights with their fascist BS,
for approving poisoning of the people for foreign-corporate profits,

-only begins to scratch the surface of the truth.

DeCePtEgRa Reply:
July 26th, 2012 at 7:35 am

Indeed
Oh, and please notice how we, AMERICANS, CITIZENS, are now constantly refered to as MERE TAX PAYERS, MERE PAYERS OF TAX. Are you an AMERICAN? Or are you just a slave TAX PAYER? Which are you? ‘They’ PRINT IT, give it away to foreign banks and dictators, and then TELL US THAT WE OWE THAT WHICH THEY PRINTED AND GAVE AWAY, OR ‘LOST’, OR ‘INVESTED’. Nice, huh?
Bernanke HIMSELF this past week told Ron Paul that Congress has the power to take away the job of the Fed reserve IF they wanted to. But sadly, Congress has no BALLS. Bernanke OFFERED, and Congress will DO NOTHING, as is usual.

hammerhead Reply:
July 26th, 2012 at 4:33 am

yes , congress can , that is what they are there for . i dont understand why it should be so hard to request an audit . i am not being niave , i know they are trying to hide the truth.
but congress SHOULD HAVE the power to order AN AUDIT and be done with it.

captain obvious Reply:
July 26th, 2012 at 6:12 am

they oughtta have power to ARREST and END even easier.

Vic Reply:
July 26th, 2012 at 5:40 am

think about the following: Congress voted in big numbers for that detention bill?

now all of a sudden they vote to audit the fed? while they have not empeached this president and previous presidents who have waged wars and put the country in deep financial dept because of it?

HOw can anyone trust these trators ? count the names who voted for the bill of detention abuse, count and expose there names……….

Vic Reply:
July 26th, 2012 at 5:41 am

Out of congress and Senate they will go? Once the giant awakens.

captain obvious Reply:
July 26th, 2012 at 6:14 am

same for every one of em re-upping “the patriot act”.
back in 2001-2002 they were bum-rushed, is understandable..
but now 10 years later they re-authorize not reading? BS!!
No one should vote Dem or Rep anymore. Chose a 3rd party candidate. Throw all the bums out! ‘Bout time we had some new blood in the Capital.

DeCePtEgRa Reply:
July 26th, 2012 at 7:38 am

Im 28 and will be registered to vote and independent is more than likely who I will vote for all of America should stop the pisssin contest and do the same them let’s see who has the power.
Got rope?
Harry Reid, should be hogtied, tarred and feathered, and run out of town on a rail. That SOB is a sniveling rat who has sold his soul to the devil, so he can stay in office. Why Nevadans continue to vote for him is beyond me.

“Won’t consider the bill”….. WHAT?

That son of a bitch can arbitrarily choose what gets put before the Senate for a vote? We cannot allow one man to sink a bill that has this great an implication for the whole of the United States. We must change how our government is run. It has turned into a debacle of self serving individuals who are hell bent on only gaining and then staying in office, with little concern for the United States as a whole, as each tries to pork their own barrel.

WE CANNOT ALLOW ONE MAN TO DECIDE SOMETHING WITH THIS IMPORTANCE OF MAGNITUDE.

How did we allow this to happen to us? How can we continue to allow 535 men and women running the government, which is only .0001783% (that is “point” 0001783 percent) of the population to make decisions affecting the rest of us, especially when a good portion of that miniscule percent are corrupt to begin with?

There is an old saying that goes like this;

“NO ONE GETS TO THE TOP, BUT BY HOOK AND BY CROOK”

I wrote my congressman Duncan Hunter about my concerns over military over-spending which affects everyone in the United States considering the state of affairs we find ourselves in, but his comment in return was that he has a responsibility to his constituency which is mostly military here in San Diego.
While that may be in the old way of politics in the USA, we must look at the larger picture of the needs of the whole of the American People. Small minded Congressional Representatives who’s only notion is to take care of their specific local is short sightedness at the very least.

It gives me pause, to think that the capricious nature of the human animal is seemingly of little concern when the lives of 300 million people are at stake. Is it human nature to be a lying deceitful SOB? Obviously so……..

SO NOW WE MUST CONCERN OURSELVES WITH HOW TO STOP THIS RUN-AWAY-TRAIN before it crashes into the terminal killing everyone on board. (and that long pun is intended) !!
Just arrest the crooks and get it over with. You don’t need permission to exercise your rights!
I do so wish the Dems would NOT kill it! We the people have a right to know what they have done.
they will kill this bill because it would expose corruption between the fed, our ‘leaders’ and banksters. those who oppose are afraid of being outed as crooks.

Vic Reply:
July 26th, 2012 at 5:33 am

Congress has no other choice? EMPEACH the trators
my roomate’s mother brought in $14357 last week. she is making money on the computer and moved in a $567200 house. All she did was get blessed and put into action the guide exposed on this web page bmal.me/pea
the dictators have spoken. Obama will block the audit.

so for who is Obama working for? shurelly not for the people of America and that includes everyone.

Time to empeach the trators
paper trail. real criminals know where all the money is.
Why is the Fox (Timothy F. Geithner) in charge of the hen house (We the sheeple’s money)?

Why am I put on a 30 day hold to buy a 22 rifle in the state of Oregon? Today is day 30 and the state dept. has not replied to the dealer with an approval or denial.
Next…
FFL dealers must follow both state and federal law. The following is a summary of
the requirements regarding release of a firearm prior to or when no approval
number has been provided by the FICS Unit.
• ORS 166.412 (3) (c) If the department fails to provide a unique approval number to a gun
dealer or to notify the gun dealer that the purchaser is disqualified under paragraph (a) of
this subsection before the close of the gun dealer’s next business day following the request
by the dealer for a criminal history record check, the dealer may deliver the handgun to the
purchaser.
• Federal law prohibits release of a firearm until after the expiration of three business days,
not counting the day on which the dealer asks OSP to conduct a criminal history record
check, unless the OSP provides an approval number first.
You know it won’t pass. The Rocket Fellas and Roth’s Child would never allow it. We get a glimmer of hope in the House and the Senate kills it. We should take note of what senators kill it. Barry would veto it anyway if it did pass. They all have Toilet Paper Immunity. They make a mess and never clean it.
If it doesn’t pass, and if Obama refuses to support it, then it make it even more clear who our true enemies of the people are. Know your enemy. That is the first rule of waging a successful war against them.
It will be easier to defeat Obama in Nov. if this effort to audit the Fed it not passed. It is a win-win situation for the people.
Agree. I have to answer for every dollar I make and spend, why shouldn’t they ? I know where this is going.

Ron Paul 2012 !!!!!!!!!!!!!