HR 1207: Battle To Audit The Fed Has Only Just Begun

HR 1207: Battle To Audit The Fed Has Only Just Begun 120609Fed

Senate may block Ron Paul’s legislation unless companion bill wins support

Steve Watson
Friday, June 12, 2009

A great victory in the ongoing battle to wrestle back control of US monetary policy from privately owned special interests was won yesterday with the announcement that HR 1207, Ron Paul’s “audit the Fed” bill, will be debated by the full House of Representatives.

Months of activism on behalf of the Texas Congressman’s supporters finally paid off as Ohio Democratic Congressman Dennis Kucinich became the bill’s 218th co-sponsor, giving the bill the majority support it needed to move out of committee.

Though this is indeed cause for celebration, a much greater effort will be needed to ensure the bill is passed into law.

Before today, HR 1207’s companion bill in the Senate, S 604 The Federal Reserve Sunshine act, had no co-sponsors at all.

Ron Paul’s Campaign For Liberty has since reported that Sen. Jim DeMint (R-SC) has become the first cosponsor of S 604.

“We still have a long way to go before we pass real legislation to Audit the Fed, but this is yet another major step toward our ultimate goal.” writes Ron Paul’s Communications Director Jesse Benton.

“Sen. DeMint is highly respected and one of the most principled conservatives in Washington. Bernie Sanders (I-VT), 604’s lead sponsor, is a firebrand Independent progressive. To see these two guys on a bill together has to tell you that something special is going on.” Benson writes.

Without support for S 604, the Senate may be able to block HR 1207 and other legislation seeking to audit the Fed.

And given that the Fed is set to do everything in its power to shoot down such legislation, we need to act fast.

We must get this bill some support, and make sure HR 1207 doesn’t get watered down along the way.

The key Senators to pressure on this bill are:

Kay Hutchison (R – TX) 202-224-5922 (on the Senate Banking Committee)

Robert Bennett (R – UT) (202) 224-5444 (on the Senate Banking Committee)

Other Senators on the Banking Committee can be found here:…

Use this site to contact your reps:

List of all senators & contact information:

If passed, HR1207 will ensure that the Fed make public the destination of the trillions in taxpayer “loans” that have been simply handed over to private banks without oversight.

Bernanke will be seated before Congress and forced to answer these questions instead of worming his way out of them, citing “extraordinary circumstances” and the like, as we have seen him do over and over for the past eight months.

The bill, if it becomes law, will expose how the Fed has consistently engaged the inflation of the currency for the gain of a few elite international bankers, further exposing how this kind of criminal action has directly led to financial crises and recessions for decades.

An audit would set the stage for the end of fraudulent fractional reserve banking and a return of honest money and fiscal policies.

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