HR 1207 is growing w/out the media help
- Thread starter Gainster
- Start date
O
Ollie
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Translation ....
There is too much of a push and he can't stop it, so he wants to water it down SO bad it is useless.
http://www.dailypaul.com/node/105162#comments
Hehe sounds as if Franks office help is getting a little upset.
End the FED
http://www.dailypaul.com/node/105260
by Ron Paul | Texas Straight Talk
August 31, 2009
It has been an interesting week indeed for the Federal Reserve. Early this week, it was announced that President Obama intends to reappoint Fed Chairman Ben Bernanke to a second term in January, signaling a vote of confidence in him. Bernanke seems to be popular with the administration and with Wall Street, and with good reason. His lending policies have left big banks flush with newly created cash that covers up old mistakes and allows for new ones. By buying up mountains of Treasury debt he has also enabled spending to soar to ridiculous levels that should startle any responsible economist, and scare any American concerned about the value of the dollar. However, these highly sensitive decisions about our money are not made by economists, they are made by politicians. Bernanke, like most of his predecessors, is the politician’s best friend. However, there is no reason to believe any other central planner would behave any differently, considering the immense political pressure on the Fed.
Fed policies have been as bad for the economy as they are good for politicians and bankers, as the recently released numbers on the debt and deficit demonstrate. For the first time since World War II the annual budget deficit is projected to be over 11 percent of the nation’s gross domestic product. It is also projected that by 2019 the national debt will be 68�f GDP. Our path, if unchanged, is completely untenable.
The administration claims that it inherited a dire situation from the last administration, which is absolutely true. However, that hasn’t stopped them from accepting all the policies and premises that got us here, and accelerating those policies to rapidly make a bad situation much worse. The bailouts started with the last administration. They have gotten bigger with this one. The last administration gave us expanded government involvement in healthcare with a new prescription drug benefit. This administration gave us a renewal and expansion of SCHIP, and now the current healthcare takeover attempts. In reality, we can afford none of this, but shady monetary policy allows Washington to continue along its merry way, aggravating all our economic problems.
http://www.dailypaul.com/node/105260
by Ron Paul | Texas Straight Talk
August 31, 2009
It has been an interesting week indeed for the Federal Reserve. Early this week, it was announced that President Obama intends to reappoint Fed Chairman Ben Bernanke to a second term in January, signaling a vote of confidence in him. Bernanke seems to be popular with the administration and with Wall Street, and with good reason. His lending policies have left big banks flush with newly created cash that covers up old mistakes and allows for new ones. By buying up mountains of Treasury debt he has also enabled spending to soar to ridiculous levels that should startle any responsible economist, and scare any American concerned about the value of the dollar. However, these highly sensitive decisions about our money are not made by economists, they are made by politicians. Bernanke, like most of his predecessors, is the politician’s best friend. However, there is no reason to believe any other central planner would behave any differently, considering the immense political pressure on the Fed.
Fed policies have been as bad for the economy as they are good for politicians and bankers, as the recently released numbers on the debt and deficit demonstrate. For the first time since World War II the annual budget deficit is projected to be over 11 percent of the nation’s gross domestic product. It is also projected that by 2019 the national debt will be 68�f GDP. Our path, if unchanged, is completely untenable.
The administration claims that it inherited a dire situation from the last administration, which is absolutely true. However, that hasn’t stopped them from accepting all the policies and premises that got us here, and accelerating those policies to rapidly make a bad situation much worse. The bailouts started with the last administration. They have gotten bigger with this one. The last administration gave us expanded government involvement in healthcare with a new prescription drug benefit. This administration gave us a renewal and expansion of SCHIP, and now the current healthcare takeover attempts. In reality, we can afford none of this, but shady monetary policy allows Washington to continue along its merry way, aggravating all our economic problems.
Up to 307 
Anything Less Than Full Disclosure is Unacceptable
Ron Paul
Campaign For Liberty
Tuesday, Oct 27th, 2009
Last week a new bill was introduced in the Senate to audit the Federal Reserve. Some backers of my bill HR1207 and the existing Senate companion bill S.604 were a little miffed at this, but depending on how you think about it, this new legislation poses no great threat to our efforts.
With the economy in shambles, people are looking for answers – not just because of lost savings on Wall Street, but because of lost houses on Main Street. Because of the many problems we face, the Federal Reserve and its powers over the economy have come under scrutiny. This translates into a lot of political pressure on Congress. With all the House Republicans signed on as co-sponsors and over half of the Democrats, HR 1207 has enormous bipartisan support. It would be disingenuous for Washington not to embrace the principles behind this bill after all the promises for transparency. How can one credibly argue for more transparency in government in one breath and defend the secrecy of the Federal Reserve in the next?
However, there is still very powerful resistance to the disclosures that HR 1207 would require and efforts to weaken it will continue to pop up before this issue is settled.
The good news is that Washington is responding and the Federal Reserve has become the issue. Concerned Americans need to keep the pressure on by continuing to define what we want, and what we do not want.
One major concern is that HR 1207 constitutes some kind of power grab for Congress. Congress would not do a better job dictating interest rates or managing money supply growth than the Federal Reserve does for exactly the same reasons: Congress is not the free market. Any select group of people, no matter how wise and educated, simply cannot replace the wisdom of the market. HR 1207 does not seek to replace the wisdom of the Fed with the wisdom of Congress. That would be a giant step backwards. HR 1207 simply asks for full disclosure, and I am agreeable to allowing for a reasonable lag time to calm the fears that Congress intends to dictate monetary policy.
What we do want, what we insist upon, is that no longer will decisions that carry so much economic weight be made in absolute secrecy. We want to know what arrangements the Fed makes with other governments and central banks. We want to know who is benefitting from the actions of the Fed and what deals are being made. The Fed is already reacting to pressure by scaling back its liquidity facilities and returning to more traditional monetary policy through direct asset purchases. With nearly $800 billion in mortgage-backed securities on its books already, $800 billion in Treasury securities, and no real limit to what the Fed can acquire, there is a tremendous opportunity for malfeasance. We need to know who the Fed deals with, what they buy, how much they spend, and who benefits. As good as any step towards Federal Reserve transparency is, anything less than full disclosure at this point is unacceptable.
Anything Less Than Full Disclosure is Unacceptable
Ron Paul
Campaign For Liberty
Tuesday, Oct 27th, 2009
Last week a new bill was introduced in the Senate to audit the Federal Reserve. Some backers of my bill HR1207 and the existing Senate companion bill S.604 were a little miffed at this, but depending on how you think about it, this new legislation poses no great threat to our efforts.
With the economy in shambles, people are looking for answers – not just because of lost savings on Wall Street, but because of lost houses on Main Street. Because of the many problems we face, the Federal Reserve and its powers over the economy have come under scrutiny. This translates into a lot of political pressure on Congress. With all the House Republicans signed on as co-sponsors and over half of the Democrats, HR 1207 has enormous bipartisan support. It would be disingenuous for Washington not to embrace the principles behind this bill after all the promises for transparency. How can one credibly argue for more transparency in government in one breath and defend the secrecy of the Federal Reserve in the next?
However, there is still very powerful resistance to the disclosures that HR 1207 would require and efforts to weaken it will continue to pop up before this issue is settled.
The good news is that Washington is responding and the Federal Reserve has become the issue. Concerned Americans need to keep the pressure on by continuing to define what we want, and what we do not want.
One major concern is that HR 1207 constitutes some kind of power grab for Congress. Congress would not do a better job dictating interest rates or managing money supply growth than the Federal Reserve does for exactly the same reasons: Congress is not the free market. Any select group of people, no matter how wise and educated, simply cannot replace the wisdom of the market. HR 1207 does not seek to replace the wisdom of the Fed with the wisdom of Congress. That would be a giant step backwards. HR 1207 simply asks for full disclosure, and I am agreeable to allowing for a reasonable lag time to calm the fears that Congress intends to dictate monetary policy.
What we do want, what we insist upon, is that no longer will decisions that carry so much economic weight be made in absolute secrecy. We want to know what arrangements the Fed makes with other governments and central banks. We want to know who is benefitting from the actions of the Fed and what deals are being made. The Fed is already reacting to pressure by scaling back its liquidity facilities and returning to more traditional monetary policy through direct asset purchases. With nearly $800 billion in mortgage-backed securities on its books already, $800 billion in Treasury securities, and no real limit to what the Fed can acquire, there is a tremendous opportunity for malfeasance. We need to know who the Fed deals with, what they buy, how much they spend, and who benefits. As good as any step towards Federal Reserve transparency is, anything less than full disclosure at this point is unacceptable.
http://reason.com/archives/2009/10/27/fed-up
With its power over interest rates and the supply of U.S. dollars, the Federal Reserve System is the most influential economic institution on the planet. That influence comes surrounded by an impenetrable aura of mystery. Hardly anyone, citizen or congressman, completely understands what the Fed does, how it operates, or what the effects of its actions will be.
Here is a highly simplified outline. The Fed is a set of 12 regional banks under the command of a seven-member board of governors appointed by the president and approved by the Senate. Its 12-member Federal Open Market Committee (FOMC)—the board of governors plus five regional bank chiefs—is responsible for adjusting the federal funds interest rate, which is the rate banks charge each other for loans. The FOMC does this through “open market operations,” buying and selling securities to affect the amount of money in the economy and thus the interest rate paid by banks to get more cash.
This process is hard enough to describe, let alone comprehend, and previous Fed chairmen have found it useful to keep their public pronouncements about the central bank’s operations maximally vague and obscure. A classic from Paul Volcker, chairman from 1979 to 1987: “We did what we did, we didn’t do what we didn’t do, and the result was what happened.” Volcker’s successor, Alan Greenspan, who enjoyed the longest stretch of low-inflation prosperity in Fed history (now widely seen as possibly laying the groundwork for the crash), helped reinforce both the central bank’s reputation for effectiveness and the expectation that its actions would remain inscrutable.
With its power over interest rates and the supply of U.S. dollars, the Federal Reserve System is the most influential economic institution on the planet. That influence comes surrounded by an impenetrable aura of mystery. Hardly anyone, citizen or congressman, completely understands what the Fed does, how it operates, or what the effects of its actions will be.
Here is a highly simplified outline. The Fed is a set of 12 regional banks under the command of a seven-member board of governors appointed by the president and approved by the Senate. Its 12-member Federal Open Market Committee (FOMC)—the board of governors plus five regional bank chiefs—is responsible for adjusting the federal funds interest rate, which is the rate banks charge each other for loans. The FOMC does this through “open market operations,” buying and selling securities to affect the amount of money in the economy and thus the interest rate paid by banks to get more cash.
This process is hard enough to describe, let alone comprehend, and previous Fed chairmen have found it useful to keep their public pronouncements about the central bank’s operations maximally vague and obscure. A classic from Paul Volcker, chairman from 1979 to 1987: “We did what we did, we didn’t do what we didn’t do, and the result was what happened.” Volcker’s successor, Alan Greenspan, who enjoyed the longest stretch of low-inflation prosperity in Fed history (now widely seen as possibly laying the groundwork for the crash), helped reinforce both the central bank’s reputation for effectiveness and the expectation that its actions would remain inscrutable.
W
Wolfrun
ACCOUNT CLOSED
NO, you are wrong, he is not a dirty SOB, he is a fudge packing dirty SOB.
This guy is a tool but supports HR1207
http://news.yahoo.com/s/ynews/ynews_ts961
Last month, Grayson, who represents the Orlando area in the House, appeared on Alex Jones' controversial radio talk show. During the show he called Linda Robertson - a lobbyist and former adviser to Federal Reserve chairman Ben Bernanke - a "K Street whore" in response to Robertson's criticism of a Republican-sponsored bill (which Grayson supported) to audit the Fed. When the interview's audio leaked onto YouTube a few days ago, many of Grayson's Democratic colleagues condemned his rhetoric and called on him to apologize, with Rep. Anthony Weiner going so far as to say that he was "one fry short of a Happy Meal." Initially, Grayson was unbowed, refusing to apologize because "the attack was on her professional career, not her personal life." He finally conceded to pressure from all sides on Wednesday and issued a statement expressing regret for using "a term that is often, and correctly, seen as disrespectful of women."
http://news.yahoo.com/s/ynews/ynews_ts961
Last month, Grayson, who represents the Orlando area in the House, appeared on Alex Jones' controversial radio talk show. During the show he called Linda Robertson - a lobbyist and former adviser to Federal Reserve chairman Ben Bernanke - a "K Street whore" in response to Robertson's criticism of a Republican-sponsored bill (which Grayson supported) to audit the Fed. When the interview's audio leaked onto YouTube a few days ago, many of Grayson's Democratic colleagues condemned his rhetoric and called on him to apologize, with Rep. Anthony Weiner going so far as to say that he was "one fry short of a Happy Meal." Initially, Grayson was unbowed, refusing to apologize because "the attack was on her professional career, not her personal life." He finally conceded to pressure from all sides on Wednesday and issued a statement expressing regret for using "a term that is often, and correctly, seen as disrespectful of women."
I am so F-ing pi$$ed right now, All the talk of healthcare has taken away from HR1207 exposing the BS done to us by the elite. Was healthcare used as a distraction? Well with msnbc reporting 18 million americans will NOT be covered by this new drama filled plan of BS I would say it sure looks like it! The GREATEST LIE ever told was that the DUMBacrats are for the working man & this Bill has been gutted by one of them!
http://www.bloomberg.com/apps/news?pid=20601103&sid=atc2o1ijLRno
Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Bob Ivry
Oct. 30 (Bloomberg) -- Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.
The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.
“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
The Fed, led by Chairman Ben S. Bernanke, has come under greater congressional scrutiny while attempting to end the financial crisis by bailing out financial firms and more than doubling its balance sheet to $2.16 trillion in the past year. The central bank is also buying $1.25 trillion of securities tied to home loans.
Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.
Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.
Original Language
Paul said he intends to introduce an amendment to the bill when it comes to the House floor for a vote restoring the legislation’s original language.
Representative Barney Frank, a Democrat from Massachusetts and chairman of the committee, said in interview that he intends to ensure legislation would provide a time lag between FOMC actions and the reporting of them.
Such a provision would “lessen the market impact,” he said on Oct. 20. “The importance is to see that there are no abuses and to judge what they did.”
The legislation will probably be included in a broader Democratic package of financial-regulation changes in the House, Frank said.
To contact the reporter on this story: Bob Ivry in Washington at bivry@bloomberg.net.
http://www.bloomberg.com/apps/news?pid=20601103&sid=atc2o1ijLRno
Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Bob Ivry
Oct. 30 (Bloomberg) -- Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.
The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.
“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
The Fed, led by Chairman Ben S. Bernanke, has come under greater congressional scrutiny while attempting to end the financial crisis by bailing out financial firms and more than doubling its balance sheet to $2.16 trillion in the past year. The central bank is also buying $1.25 trillion of securities tied to home loans.
Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.
Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.
Original Language
Paul said he intends to introduce an amendment to the bill when it comes to the House floor for a vote restoring the legislation’s original language.
Representative Barney Frank, a Democrat from Massachusetts and chairman of the committee, said in interview that he intends to ensure legislation would provide a time lag between FOMC actions and the reporting of them.
Such a provision would “lessen the market impact,” he said on Oct. 20. “The importance is to see that there are no abuses and to judge what they did.”
The legislation will probably be included in a broader Democratic package of financial-regulation changes in the House, Frank said.
To contact the reporter on this story: Bob Ivry in Washington at bivry@bloomberg.net.
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Normaly when I see stuff like this http://www.prisonplanet.com/the-col...e-globalist’s-deindustrialization-agenda.html I call BS, But when you put all the government/nwo crap together it seems more realistic as a truth.
A key agent of the Rockefeller family, Dr. Richard Day, the National Medical Director of the Rockefeller-sponsored Planned Parenthood, told a meeting in March 1969 that American industry will be sabotaged and shown to be uncompetitive. He said:
“The stated plan was that different parts of the world would be assigned different roles of industry and commerce in a unified global system. The continued preeminence of the United States and the relative independence and self-sufficiency of the United States would have to be changed… in order to create a new structure, you first have to tear down the old, and American industry was one example of that.”
“Each part of the world will have a specialty and thus become inter-dependent, he said. The US will remain a center for agriculture, high tech, communications, and education but heavy industry would be “transported out.”
This is Agenda 21 in action—the agenda for the 21st Century as set by the globalists who run the United Nations and other key international mechanisms. The bankers most assuredly created the crisis now underway!!!!
A key agent of the Rockefeller family, Dr. Richard Day, the National Medical Director of the Rockefeller-sponsored Planned Parenthood, told a meeting in March 1969 that American industry will be sabotaged and shown to be uncompetitive. He said:
“The stated plan was that different parts of the world would be assigned different roles of industry and commerce in a unified global system. The continued preeminence of the United States and the relative independence and self-sufficiency of the United States would have to be changed… in order to create a new structure, you first have to tear down the old, and American industry was one example of that.”
“Each part of the world will have a specialty and thus become inter-dependent, he said. The US will remain a center for agriculture, high tech, communications, and education but heavy industry would be “transported out.”
This is Agenda 21 in action—the agenda for the 21st Century as set by the globalists who run the United Nations and other key international mechanisms. The bankers most assuredly created the crisis now underway!!!!
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why am i not suprised...ooooohhhh the predictability is getting boring!
http://www.wnd.com/index.php?fa=PAGE.view&pageId=114624
http://www.wnd.com/index.php?fa=PAGE.view&pageId=114624
Are you kidding??? Will this woman really do this or are you joking.
311 Cosponsors!!!
When I checked the status of the bill today and it said "committee hearings held" I checked out the committee and got depressed because (besides Barney) Maxine Waters and Alan Grayson are on it. All three are mentally ill. But maybe Bachmann, Price and Paul balance them out. I think McCotter is decent too.
http://financialservices.house.gov/who.html
Isn't the next step after the hearings is for it to be heard on the floor of the House, which Princess Pelosi has to agree to?
When I checked the status of the bill today and it said "committee hearings held" I checked out the committee and got depressed because (besides Barney) Maxine Waters and Alan Grayson are on it. All three are mentally ill. But maybe Bachmann, Price and Paul balance them out. I think McCotter is decent too.
http://financialservices.house.gov/who.html
Isn't the next step after the hearings is for it to be heard on the floor of the House, which Princess Pelosi has to agree to?
Dodd reads the writing on the wall & knows his seat is gone, He now jumps on the Band Wagon Ron Paul got rolling to save his a$$.
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/10/AR2009111019995.html
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/10/AR2009111019995.html
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