July 15, 2009
NIA Urges Support of Bills to Audit Federal Reserve
We must do everything we can to support Ron Paul's bill in the House HR 1207 and Bernie Sanders' bill in the Senate S 604 to audit the Federal Reserve. These bills are our only hope to help expose the Federal Reserve and prevent hyperinflation from destroying our country.
Thanks to Ron Paul's tireless efforts, HR 1207 now has 261 bipartisan co-sponsors in the House, yet House Speaker Nancy Pelosi refuses to bring it up for vote.
In the Senate, Jim DeMint attempted to add S 604 as Senate Amendment 1367 to HR 2918, the Legislative Branch Appropriations Act. Senator Ben Nelson of Nebraska raised a "point of order" to prevent the amendment from being voted on, citing Rule 16 which doesn't allow legislative policy to be added to spending bills.
In the same bill that Jim DeMint made a heroic effort to amend, numerous GAO audits were added for the National Transportation Safety Board, local educational spending agencies, etc., and those amendments were allowed to proceed despite the Senate speaker admitting they were also in violation of Rule 16. The hypocrisy is astounding and clearly shows the Senate is going to do everything in their power to block an audit of the Federal Reserve.
While almost all NIA members know the U.S. dollar has lost 95% of its purchasing power since the Federal Reserve was created in 1913, most American people have yet to wake up because the mainstream media fails to properly cover this issue. They place the blame for our current financial crisis on free enterprise, when it's the Federal Reserve that created the booms and busts of the past decade.
The Federal Reserve's current position is that they do reveal plenty of information, but need to have exceptions in certain areas in order to maintain their independence. NIA believes when the Federal Reserve speaks of independence, they are really speaking of their quest to remain secretive and clandestine in order to serve special interests.
It appears as though the Federal Reserve only wants the American public to know the unimportant things, while maintaining secrecy about the things that matter, like their deals with international bankers, other central banks and foreign governments. Who knows, they could be paying off foreign central banks to hold on to their U.S. dollars as the world's reserve currency. We really have no idea what is going on until an audit takes places.
Federal Reserve Chairman Ben Bernanke believes that oversight of the Federal Reserve would risk the stability of the U.S. dollar. In reality, it is Bernanke's policy of rapidly expanding the money supply that could cause the destruction of the U.S. dollar. An audit of the Federal Reserve will bring much needed transparency and maybe wake the American people up. Once Americans realize what is taking place behind closed doors at the Federal Reserve, it is possible the entire country will be outraged and want to return to a sound currency that is backed by gold and silver.
The Federal Reserve was created to maintain the stability of the U.S. dollar, but instead they have become counterfeiters of dollars while operating in secrecy. We know more about the CIA than we do the Federal Reserve, yet it is the Federal Reserve that controls the economic destiny of our country. No single unelected agency should be given this much power, yet Obama wants to give the Federal Reserve even more power. Obama wants the Federal Reserve to regulate all financial institutions, banks and insurance companies in the nation.
As clearly seen in our documentary Hyperinflation Nation, Bernanke denied there was a Real Estate bubble in July of 2005 and said there had never been a nationwide decline in housing prices. Then in November of 2006, Bernanke said the automobile sector was showing signs of strengthening; today GM and Chrysler are bankrupt.
Do we really want this man, who has been wrong about everything in the past, to control the value of our currency and operate in secrecy without any transparency whatsoever? It took the U.S. dollar 95 years to lose 95% of its purchasing power, maybe it will lose the next 95% of its purchasing power in the next few years.
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