Rand Paul Plans Filibuster of Federal Reserve Chair Nominee
October 28th, 2013
In the final years of former Congressman Ron Paul’s congressional career, he introduced a bill to audit the secretive and nefarious Federal Reserve, which passed the House of Representatives. However, Senator Harry Reid, along with his Fed-connected allies in the Senate, shut down Paul’s effort before it could reach the President’s desk. Meanwhile, Janet Yellen has been nominated by President Obama to take over Ben Bernanke’s position as Federal Reserve chairman, probably at the beginning of 2014.
Senator Rand Paul appears to have finally found a way to force the Senate to take on his father’s Audit the Fed bill, referred to formally as the Federal Reserve Transparency Act. Since Janet Yellen’s appointment must go through the Senate, Senator Paul is threatening to put her nomination on hold, requiring 60 votes to overturn, until legislators vote on auditing the Federal Reserve. If enough senators stand with Rand on this issue, the American people may soon get the chance to challenge the Fed’s domination of the US economy in an epic political fight. Check out the video below, provided by Campaign for Liberty, that details this forthcoming showdown.
It’s Time for a Historic Audit of the Secretive Federal Reserve
Over the past few years, the Federal Reserve has transformed, in terms of public opinion, from an obscure institution discussed only by economists to an infamous, feared household name, blamed for the recent devastation of the world economy. Many experts who watch the markets have lost faith in the Fed, especially after its recent decision back in September to continue its quantitative easing program, which confused Wall Street. Most traders really believed that the Fed needed to begin tapering at that time, and its failure to do so was interpreted as harmful to the market.
Incidentally, the Fed recently announced that it would add additional security measures to prevent early reporting of news from Federal Open Market Committee meetings by the media, thus escalating its secretive nature. Ben Bernanke’s quantitative easing program has put the Federal Reserve in a bad position with no end game, as the private bank is set to lose money if interest rates rise. A growing chorus of experts are warning that central banks have stopped talking about tapering off of easy money programs, meaning a hyper-inflationary disaster may be looming.
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How to Support “Audit the Fed”
If you agree that the shadowy Federal Reserve needs a thorough audit, allowing the American people to discover exactly what has been going on over there for all these years, then it is crucial to contact your representatives in Congress. Eric Cantor has indicated that the Federal Reserve Transparency Act will get a new vote in the House if it reaches the 100 cosponsor threshold. Campaign for Liberty has a House petition going that will help achieve that effort.
Additionally, Rand Paul needs allies in the Senate, or else Fed-connected senators like Harry Reid and Bob Corker will pull together enough votes to overturn the hold on Federal Reserve chair nominee Janet Yellen. To accomplish this, it is crucial for citizens to contact their senators, particularly those who are vulnerable in the 2014 elections, and demand support for the Federal Reserve Transparency Act (S. 209).
The first step to ending the Federal Reserve is a thorough audit; as soon as the American people discover what has been done to their system of currency, it will be much easier to promote a transition away from the existing fiat system.
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