Steve Scalise's co-sponsoring of HR1207
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Dear Congressman Scalise:
By now you are probably well aware that Ron Paul has introduced HR 1207, The Federal Reserve Transparency Act, commonly referred to as the bill to audit the Fed. More importantly, and more accurately, HR 1207 would legalize the auditing of the Federal Reserve (more on that, below).
As your constituents, we are concerned that you have not yet signed on as a co-sponsor of this important legislation. As of May 8, HR 1207 had 143 co-sponsors, or 33 percent of the House. And while we do not view this as a partisan issue, you should know that as of that date, 70 percent of House Republicans had signed on as co-sponsors, putting you in a small minority of holdouts.
Here are some of the more obvious reasons that HR 1207 deserves your full support:
The Federal Reserve is a secretive cartel of private banks that has recently created many trillions of dollars (POOF! with mere keystrokes!) and used it to enrich the very banks that own it.
The Federal Reserve is independent of oversight from the federal government and has never been audited by the federal government.
The Federal Reserve, being a private entity, is not required to respond to Freedom of Information Act requests, so it is not answerable to the People.
The Government Accountability Office is prohibited by federal law from auditing the Federal Reserve, unless it first gets written permission from the Federal Reserve. And even if the Fed were to grant its permission, which it has never done, the same federal law prohibits the GAO from investigating certain activities, a list that includes every important function of the Federal Reserve.
Solving the countrys financial crisis will require a great deal more than what HR 1207 calls for, but it undoubtedly is an important step. Even if somehow you believe the Federal Reserve should not be audited (certainly an indefensible position), you must agree, if you truly represent your constituents and not the bankers, that a GAO audit of the Federal Reserve without the Federal Reserves written permission should at least be legal!
We urge you to co-sponsor HR 1207 immediately. We monitor the list daily and hope to see your name included soon.
By now you are probably well aware that Ron Paul has introduced HR 1207, The Federal Reserve Transparency Act, commonly referred to as the bill to audit the Fed. More importantly, and more accurately, HR 1207 would legalize the auditing of the Federal Reserve (more on that, below).
As your constituents, we are concerned that you have not yet signed on as a co-sponsor of this important legislation. As of May 8, HR 1207 had 143 co-sponsors, or 33 percent of the House. And while we do not view this as a partisan issue, you should know that as of that date, 70 percent of House Republicans had signed on as co-sponsors, putting you in a small minority of holdouts.
Here are some of the more obvious reasons that HR 1207 deserves your full support:
The Federal Reserve is a secretive cartel of private banks that has recently created many trillions of dollars (POOF! with mere keystrokes!) and used it to enrich the very banks that own it.
The Federal Reserve is independent of oversight from the federal government and has never been audited by the federal government.
The Federal Reserve, being a private entity, is not required to respond to Freedom of Information Act requests, so it is not answerable to the People.
The Government Accountability Office is prohibited by federal law from auditing the Federal Reserve, unless it first gets written permission from the Federal Reserve. And even if the Fed were to grant its permission, which it has never done, the same federal law prohibits the GAO from investigating certain activities, a list that includes every important function of the Federal Reserve.
Solving the countrys financial crisis will require a great deal more than what HR 1207 calls for, but it undoubtedly is an important step. Even if somehow you believe the Federal Reserve should not be audited (certainly an indefensible position), you must agree, if you truly represent your constituents and not the bankers, that a GAO audit of the Federal Reserve without the Federal Reserves written permission should at least be legal!
We urge you to co-sponsor HR 1207 immediately. We monitor the list daily and hope to see your name included soon.
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