For the first time in history, the Federal Reserve Bank may be facing an audit. On Thursday, the House Finance Committee passed a bill (HR 1207) that authorizes the Government Accountability Office (GAO) to conduct a wide-ranging audit of the Fed’s secretive deals with foreign central banks and major U.S. financial institutions.
HR 1207, sponsored by Rep. Ron Paul (R-TX), currently has 313 co-sponsors in the House from both sides of the aisle, which is a veto-proof majority. A companion bill in the Senate (S 604) has 30 co-sponsors.Whenever the government needs to have money printed, or spend our tax dollars, it issues treasury bonds to the Federal Reserve, which in turn prints the Federal Reserve notes to back those up. The catch, however, is that money is issued with interest charged to the federal government (a.k.a. the taxpayers). According to CNN, the interest alone on U.S. debt is projected to grow to $4.8 trillion in the next decade. According to Ron Paul, since the Federal Reserve was given control over U.S. currency in 1913, the purchasing power of the dollar has fallen by over 95%.
The FED is Evil the Rothchilds,,, the Rockefellers, Soros. WE know Now … The Giant has Awoken… see OUR power
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