This is a very important step back toward economic liberty.  More than half of the congress has co-sponsored the bill (including 80 democrats – so truly bi-partisan) and it asks for one simple thing.  Transparency.  After all, it’s our money, and our government… shouldn’t we have a right to know where all of the money the fed prints out of thin air goes?  This clip (http://www.youtube.com/watch?v=uUreWxKGOkY) seems to indicate not even they know where it goes!

Update – the hypocrisy – government promises transparency… but does not take opportunities to deliver on that promise.

http://www.youtube.com/watch?v=4tRQHsXujpo

More information on auditing the Fed:

http://www.youtube.com/watch?v=xx-UYvtSqeI

http://www.youtube.com/watch?v=dGAQIJWUJVU

http://www.youtube.com/watch?v=zpbW64vRrMc

Update – Freedom Watch – Judge Andrew Napolitano

http://www.youtube.com/watch?v=dGAQIJWUJVU – the Fed’s response (besides hiring the Enron lobbyist)

Congressional report admits economic collapse was government’s fault:

http://americaswatchtower.com/2009/07/09/congressional-report-blames-the-governement-for-the-mortgage-crisis/

You can’t fairly blame the free market anymore – after all we have not had a true free market in this country for decades.  You can try to blame lack of regulators, but some of the big organizations that they say need regulation had literally hundreds of regulators already… and the answer can’t possibly be to give the federal reserve the power to regulate the banks.  Did you know the federal reserve is a private organization?  It’s a bank… for the banks.  Giving it the power to regulate – isn’t that like allowing banks to regulate themselves?  Actually reading the plan, one learns that many of the ‘regulations’ become optional anyway (so it’s a big bank regulating (in many ways) itself… but only if it wants to).  You can read the entire plan here: http://thehill.com/images/stories/news/2009/june/white%20paper.pdf – and a critique of it here: http://www.campaignforliberty.com/blog.php?view=20147

If I’m wrong about any of this I’d love to hear about it so I can continue the learning process.  If you agree, contact your government here – https://writerep.house.gov/writerep/welcome.shtml and tell them to support HR 1207 and government transparency.  Also, feel free naturally to forward this to others if you want.

I hope you all are having a wonderful week!  I wish the best to you.

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