The House Oversight Committee has approved a bill requiring the Fed to conduct a full audit as well as divulge details regarding its monetary policy discussions and decisions.
While we would love to be excited about this, please remember that this legislation will require the full House to actually pass the bill, the Senate to pass it’s own version (the Senate bill S.202 is currently stuck in the Senate Banking sub-committee with only 20 co-sponsors) and the sitting Kenyan to sign the bill.
While the chances of the bill actually becoming law are slim to none, bringing the Fed to the attention of more and more American’s is the true victory.
Can you imagine if every American Idol viewer had the same understanding of the Federal Reserve as the average Zerohedge or SilverDoctors’ reader?
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“Can you imagine if every American Idol viewer had the same understanding of the Federal Reserve as the average Zerohedge or SilverDoctors’ reader?”
Has everyone clicked on Doc’s sponsors today and everyday? If we can coin someone 1000+ times (congrats SB), we can surely do the same for this site! So do your duty and click on a few sponsor links each day.
What most people that want the Fed to be audited dont understand is how an audit is conducted. I am a financial auditor that works for private companies. There is no reason to waste our time auditing an organization that can create money from thin air. There are too many ways they could hide the money created from thin air. It would be good to see the gold, but again, rather pointless, because there is no way to know whose gold it is.
I agree it is good to bring more and more attention on this organization.
40oz I do and send cash.
Send in fiat to
if you are able.
THANK YOU
Thank’s 40oz for keeping everybody awake on this.
Well you have to start someplace so I am glad to see this… But as said it’s far from a victory and a go… And sadly if it ever gets completely approved we will see attempts to block the audit or over turn it all together… By the time it might actually happen the can will have been kicked, stepped on, run over and blown up possibly many times over… Then there is the whole what will the auditors be shown and actually find if ever allowed to do an audit… I’m sure they will find what the Fed wants them to find, with the Fed likely leaving a few small crumbs of wrong doings laying around just to say “ok you got us…” I hope I am wrong but this is the corrupt thieves we are speaking of…
40 oz makes a good point guys… It only takes a minute or so to click the links for the Doc so he can get a little help keeping this site we all enjoy going… Do some clicking as so we may continue to speak of stacking…
Hay Danno,
Yay! It’s about time! I woke up with the good news this morning… and the sun is shining and…. do I need to continue?
Thank you 427 and all the enforcers. All honor is due to you. Be sure to stretch those fingers a bit…
P.S. 427 – I wanted to say, just in case you miss it elsewhere, you’re 100% spot on with the 90% Constitutional Silver bit, that ain’t no joke that’s why I’ve left it out of my primer-joke. lol
This is a very important moment in time. The Ron Paul Revolutionary Movement has all worried. This is Great Moment in Time! Just imagine if they did not pass this? They definitely know they need the Ron Paul supporters for the Presidential Election in the fall! I am no way supporting Romney at all! However, we will see when this hits the U.S. Senate for a vote! Don’t you find that this is really odd that it passed unanimously?! This is still Great! Stay tuned!
MAKING NO EXCUSES … Everyone’s education has them conditioned to think of
the current banknote paradigm as essentially no different than that of the
metallic scheme, so, they blame turpitude of bankers and politicians for the
condition we’re experiencing. The truth, however, is that the monetary scheme
of banknotes itself is the root cause. It is an entirely separate paradigm from
that of specie money and so requires an entirely separate methodology of
examination. It is as though The Doc found himself in the situation of treating
an extraterrestrial life form based on a silicon structural foundation. To
presume any of the rules underlying carbon base frameworks in the task would be
immediately misleading.
While some degrees of incompetence, avarice and extravagance can clearly be applied
to individuals; they are actually only ancillary to the underlying structure
promoting them. Banknote ‘money’ automatically inflates at the complex
compounding rate of interest, NOT particularly as a result of human action!
Consequently, human action responses yield the exact opposite outcomes than in
the specie paradigm.
Once an accurate comprehension of the scheme is firmly understood, it
becomes crystal clear that it’s an incorrigibly self-destructive concoction
that must FIRST be abandoned in its entirety before any genuine ‘healing’ is
even possible, let alone likely.
Im afraid an audit is to late in coming. the only fixes and transparence is total collaps.
I agree with 427. I’m afraid it’s a little late for an audit. This fiat system is a “done Jesse”. Maybe it’ll be good for the next one . Go Ron!
2oz;
Eric Holder Prepares for Contempt Vote with Barbecue
Yeah 427, this just shows how important our economy is. “Hey ya’ll, lets have a BBQ. The economy can wait and I’m not going to be held responsible for the death of the Border Patrol gent anyway. I have immunity.” What a joke. I get smoking angry with how irrelevant our congressmen and senators are. Got a man like Ron Paul that truly believes in our constitution and works hard for it, then you have the rest of the yoyo’s having a BBQ on the White House lawn. How much did that add to the deficit?
Dear Doc’s,
Love your site and thank you for the great PM related information and comment, but just wanted to let you know that some of your fans are offended by the tiresome “sitting Kenyan” stuff.
IMHO history will treat President Obama rather well (and I’m not a huge fan, just looking at the hand he was delt and the unpresidented conditions he’s had to work under)… but the race based attack machine (not you or your readers, but the far right attack machine pulling the strings and hitting all the “hate buttons”) will not be treated so well (divide and conquor is an effective strategy, until the level of acrimony awakens the sleeping victims… coming soon I believe). No President could possibly stand up against the plutocratic mess America has become, and blaming this one may make many feel better, but does nothing to solve the problems (anyone who believes the situation would improve with Romney in the WH and yet more of the plutocrat backed GOP in congress is dreaming).
Ravage his policies (of course that’s fair game), but the ugly personal stuff is just… ugly personal stuff.
2oz
lol I agree, ugly as a bitch.
The situation is becoming very desperate for the ‘Federal’ Reserve (which is no more federal than ‘Federal Express’, as many have pointed out). Just pay attention to all of the on-line comments on articles published on the Internet about this story, and it’s very surprising that the great majority of the people share all kinds of negative sentiments regarding The Fed. It’s clear the information being put out by ‘alternative’ sites, such as SD, is making a significant difference. Videos such as “The Money Masters” and “America: From Freedom To Fascism” are openly discussed, as well as books such as “The Creature from Jekyll Island”.
Hillary Clinton is quoted as saying (to paraphrase), “This is an information war, and we (the US Government) are losing it.”
It is also no secret that many people recognize JPM and HSBC as the two greatest market manipulators of them all, which also happen to be the two largest global bankers and purveyors of fiat ‘money’ in the world. People’s negative sentiments about these two ‘institutions’ is becoming more and more extreme.
Coupled with the Fed, the situation is clearly becoming more and more desperate for these ‘money changers’, and that can only mean more blatant and desperate manipulation and price suppression of the precious metals Silver and Gold.
This is all a joke it will take forever even if they could pass a bill and if they did get it passed it would be to see how much we have lost and how much is left. LMAO
@SB What’s the fat stack all about? I just came on line.
lol M45 Which stack?
P.S. Did you receive my email?
Patfields You hit the nail on its head!
This is more or less the strategy they’ve been following over the ages: Use gold and silver coins as money, debase gold and silver coins, switch to paper backed by gold and silver + use it in conjunction with debased gold and silver coins, start to issue too much paper (not enough gold and silver available to back the paper) + debase coins further, and last but not least, switch to fiat currency and remove all gold and silver from coinage. They have done this over and over again… and every time the majority falls for it.
Bimetallism, a monetary standard where a fixed rate of exchange is set between gold and silver, didn’t work, because they fixed the prices of both gold and silver, separately and in relation to each other. This caused distortions in the market, because the one pushed the other out of the market, creating unnatural and unhealthy shortages. This is not to say that gold and silver are not money or cannot be used as money successfully within the same monetary system, it is to say that the free market should set gold and silver prices (not even to mention other prices!). Yes, natural shortages can develop when honest money such as gold and/or silver is used, but it gives the incentive to mine more gold and/or silver, to expand the money supply in a more healthy and gradual way. What is after all healthy and gradual about monetary expansion when an estimated 9+ tons of ink is used daily just to print fiat dollar notes alone, not even to mention the fiat dollars they create electronically with a few strokes on a keyboard?
I bet just the “special security” detail for the dog and pony BBQ cost more than any of us could count…
How many families could that dollar amount directly help right now?
I bet they threw out more food from the BBQ then they ate….
How many hungry Vets, elderly, children, handicap, or just plain poor folks could have been WELL fed by this food that was thrown out??
I bet the politicians spent more time planning for this BBQ and thinking about it than anything this session…
How many REAL problems could truly be SOLVED instead of ignored, complicated, prolonged, mis handled during there “summer” session??
Kids… I got many more but I think you get what I’m saying… When are the people of this United States of America going to stop putting up with all this BULLSHIT wanna be “politics”??? This isn’t politics!! 99% of politicians worry about 2 things ONLY…. Getting elected… And getting RE elected… All they do when in office is see how they can stay there… They could care less about doing anything meaningful and worth while for the TRUE good of the people they serve… It NEEDS TO STOP!!! NOW!!!