UPDATE: HR459 – 274 Cosponsors

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HR459 cosponsors – Federal Reserve Transparency Act of 2011

Updated 7/19/2012 – 274 Cosponsors

Click HERE for a more detailed view at Google maps.


Rep. Paul slams Fed for steps risking US dollar’s reserve status

By Pete Kasperowicz – 08/10/11 09:03 AM ET

The Federal Reserve has taken another step to end the dollar’s reign as a global reserve currency, Rep. Ron Paul said Wednesday.

Paul, the GOP presidential candidate and frequent Fed critic, criticized the central bank’s Tuesday announcement that it would keep a key interest rate at or near zero percent for another two years.

“I think what we’re dealing with is the end of the dollar reserve standard, and that’s a world-wide phenomenon,” Paul (R-Texas) said on CNBC.

The Fed on Tuesday did not announce a third round of quantitative easing as some were hoping, which could have led to more Fed purchases of Treasury debt and a flood of new money, something Paul has criticized in the past. Still, Paul implied that the Fed’s decision to keep interest rates low through mid-2013 is a supplemental strategy that will push the dollar down, and said the recent surge in gold prices is a sign of that.

 

http://thehill.com/blogs/floor-action/house/176229-rep-paul-says-fed-move-step-toward-end-of-dollars-reserve-status

The American Dream By The Provocateur Network

The AMERICAN DREAM is a 30 minute animated film that shows you how you’ve been scammed by the most basic elements of our government system. All of us Americans strive for the American Dream, and this film shows you why your dream is getting farther and farther away. Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? Do you really know what the Federal Reserve System is and how it affects you every single day? THE AMERICAN DREAM takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in America today. You will be challenged to investigate some very entrenched and powerful institutions in this nation, and hopefully encouraged to help get our nation back on track.

Rep. Paul introduces bill to cancel $1.6T in debt held by Federal Reserve

By Pete Kasperowicz – 08/02/11 10:13 AM ET

Rep. Ron Paul on Monday introduced legislation that would lower the federal government’s debt by canceling the roughly $1.6 trillion in debt held by the Federal Reserve.

Paul has argued for the last few weeks that the idea represents a quick way to make the growing fiscal crisis more manageable. Under his bill, H.R. 2768, the $1.6 trillion that the Treasury owes to the Federal Reserve would disappear.

The Rest is here.

Ron Paul the Master

A Fix for the Debt Ceiling That No One Is Talking About

From Dean Baker at The New Republic:

Economists believe that people respond to incentives. The fact that economists never suffer career consequences for failing to consider new ideas explains why they so rarely consider any policy that has not long been in the standard bag of tricks. I mention this background since it is relevant to the reaction given a proposal on the debt ceiling that Ron Paul originally put forward and that I subsequently endorsed. Paul suggested that the Fed could destroy the $1.6 trillion in government bonds that it now holds as a way of getting room under the debt ceiling. Debt to the Fed counts as part of the government debt subject to the limit. If the Fed destroyed $1.6 trillion in debt, then it would create a space of $1.6 trillion under the ceiling.

 

Read the rest at The New Republic.

Ron Paul asks Ben Bernanke – Is Gold Money? July 13, 2011

Congressman Ron Paul questions Fed Chair Ben Bernanke in the U.S. House Financial Services Committee meeting. The FED is considering another round of money printing, QE3.

http://youtu.be/G3TltMNbgGQ