Journal: Democratic Leadership GUTS Federal Reserve Audit Bill–Roll-Call Vote Could Be the Straw that Breaks the Two–Party Tyranny in 2010

03 Economy, Budgets & Funding, Commerce, Commercial Intelligence, Ethics, Government, Reform

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Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says

Oct. 30 (Bloomberg) –By Bob Ivry

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.

. . . . . . .

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.

Phi Beta Iota: Following upon the impeachable misbehavior of both sides of the House and Senate with respect to the so-called Health Care legislation, once cannot conceive of a better demonstration for why the American citizens should not demand Electoral Reform Act as well as Smart Nation – Safe Nation Act, demand a roll-call vote on this idiocy of Mel Watt’s, and recall everyone voting against Ron Paul’s amendment to restore the original bill.

To learn more about the two-party tyranny that is a fatal cancer on the Republic, visit:

Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It (Paperback)

2008 ELECTION 2008: Lipstick on the Pig

Grand Illusion: The Myth of Voter Choice in a Two-Party Tyranny

Gag Rule: On the Suppression of Dissent and Stifling of Democracy

The Deepening Darkness: Patriarchy, Resistance, and Democracy’s Future

Empire of Illusion: The End of Literacy and the Triumph of Spectacle

To understand Congressional corruption and impeachable dereliction of duty, visit:

Breach of Trust: How Washington Turns Outsiders Into Insiders (Hardcover)

The Broken Branch: How Congress Is Failing America and How to Get It Back on Track (Institutions of American Democracy)

The Ambition and the Power: The Fall of Jim Wright : A True Story of Washington