Ron Paul Winning Converts

[sealybobo]

H.R. 1207 will change the way the Fed is audited, in that it will allow the GAO to get more information from the Fed.

(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—

(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;

(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;

(3) transactions made under the direction of the Federal Open Market Committee; or

(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.

US CODE: Title 31,714. Audit of Financial Institutions Examination Council, Federal Reserve Board, Federal reserve banks, Federal Deposit Insurance Corporation, and Office of Comptroller of the Currency

H.R. 1207 would change the law so that the Fed would be audited on all of this information.

Hi Kevin. They were talking about the banks and banks on Thom Hartmann yesterday.

Topic: “Restoring the American dream” Thom talks with Stephen Zarlenga of the American Monetary Institute The American Monetary Institute

(I have to assume they are the liberal version of Ron Paul)

They talked about how the same Feds that started our Federal Reserve in 1913 also took over Germany's finances after ww2. Same bankers own them and us.

And they brought up a good question. Why doesn't China need a Federal Reserve? They seem to be managing their $ fine without bankers being involved. What is the down side for a country to manage their own treasury?

 

[Iriemon]

H.R. 1207 will change the way the Fed is audited, in that it will allow the GAO to get more information from the Fed.

(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—

(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;

(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;

(3) transactions made under the direction of the Federal Open Market Committee; or

(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.

US CODE: Title 31,714. Audit of Financial Institutions Examination Council, Federal Reserve Board, Federal reserve banks, Federal Deposit Insurance Corporation, and Office of Comptroller of the Currency

H.R. 1207 would change the law so that the Fed would be audited on all of this information.

Hi Kevin. They were talking about the banks and banks on Thom Hartmann yesterday.

Topic: “Restoring the American dream” Thom talks with Stephen Zarlenga of the American Monetary Institute The American Monetary Institute

(I have to assume they are the liberal version of Ron Paul)

They talked about how the same Feds that started our Federal Reserve in 1913 also took over Germany's finances after ww2. Same bankers own them and us.

The banks do not own us nor do they own the Fed in any normal use of the word.

The hundreds of banks that participate in the Fed either mandatorily (federal charter banks) or voluntarily (state banks) are required by statute to deposit a portion of their capital with the Fed, for which they are paid a fixed 6% return. They are required to have this stock by law, they have no right to sell their stock, transfer it, or vote for Federal Reserve Board members who make monetary policy. Board members are picked by the President and confirmed by the Senate.

You've been shown this many times since I've been here. Why do you continue to make statements you know are false?

And they brought up a good question. Why doesn't China need a Federal Reserve? They seem to be managing their $ fine without bankers being involved. What is the down side for a country to manage their own treasury?

China, like the US does have a central bank which manages the money supply for the country like the Fed does for our country.

The People's Bank of China