And it passed.



On Wed, Jul 25, 2012 at 12:15 AM, Jerry Barnes <critic...@gmail.com> wrote:
>
> Without the use of a search engine, can you guess which congressman said
> the following:
>
>
> "This is all about disclosure and accountability. You know, the Fed’s not
> some kind of hocus pocus, black box operation. The Fed essentially
> supplants the constitutional mandate in Article 1, Section 8, that belongs
> to the Congress of the United States"
>
>
>
> If you haven't read anything about this, I can easily imagine who you are
> thinking of.  Here's some more:
>
>
> Let’s look at some recent history here. 2008: subprime meltdown,
> collateralized debt obligation, go back for mortgage-backed securities,
> neighborhoods in Cleveland melting down, people losing their homes. The Fed
> looked the other way and we’re saying, ‘oh, don’t go into the Fed, it would
> be political.’ Yes, it’s political. We have unemployment because of
> politics. We have people losing their homes because of politics. We have
> banks getting uncalculated amounts of money from the Federal Reserve and we
> don’t even know about it. Meanwhile people can’t get a loan to keep their
> home or keep their business.
>
> Yes, it's political. We have unemployment because of politics. We have
> people losing their homes because of politics. We have banks getting
> uncalculated amounts of money from the Federal Reserve and we don't even
> know about it. Meanwhile people can't get a loan to keep their home or keep
> their business.
>
> Audit the Fed? You bet we should audit the Fed. We have to have
> accountability. It's time that Congress stood for its Constitutional role:
> Article 1, Section 8, the power to coin or create money.
>
> It's time we stood up for America's 99%. It's time that we stood up to the
> Federal Reserve that right now acts like it's some kind of high exalted
> priesthood, unaccountable in a democracy.
>
> Let's change that by voting for the Paul Bill.
>

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