Ending the Federal Reserve via Federal Reserve Transparency Act of 2009 (HR 1207)

Recently there have been a flurry of economic reports and activity suggesting that the next months and years ahead will be arduous.  As an amateur student of the economy there is one persistent underlying theme that can be found as the central issue of virtually every debacle today.  Whether it be a seemingly benign issue like cash for clunkers, to continuing escalation in Iraq and Afghanistan to the crippling housing crisis it can all be explained in one form or another by monetary policy.

While I am no fan of Ron Paul due to his inexplicably strange following and tendency to over simplify and even skew issues, he has been championing a most noble and righteous cause for many decades now.  What Paul understands and many do not is the inherent power structure of Congress and individuals who will do anything to retain this power.  There is a way however, in fact there are two ways to actually end the Fed and you can read my recent articles pertaining to the economy to understand why this should be the issue of our time.  Do not take this lightly, if you are reading this and thinking to yourself how bad can the fed be or wondering if this is merely an exaggeration to prove a point - stop, this is not.  Crippling the Fed's ability to function is as important now as was ending slavery in the 19th century.  In fact the analogy may be crude, but both unleash a form of servitude that is the entire antithesis of freedom and liberty yet slavery was at least visible while the Fed operates in ways that most people fail to understand.

We absolutely must raise awareness and educate the masses, because if the demand is there then representatives will arise and take the fight to Congress.  Remember, Congress can end the Fed RIGHT now, but most Congressmen are either too ignorant or too drunk with the power the Fed provides - a blank check to do anything.  People like Ron Paul are absolutely essential to have in Congress and while I would never endorse him as president I wish him luck with this cause.

Cutting to the chase, there are two bills worth mentioning.  One called the Federal Reserve Board Abolition Act and will do what it sounds.   There are 0 co-sponsors and is not particularly well known even among the politicos.  This is an unlikely proposition and is akin to writing legislation to End Communism in Soviet Union Act.

The second bill is called the Federal Reserve Transparency Act of 2009 (HR 1207) and proposes to audit the Federal Reserve and break down the secrecy, open the books and expose to the public what our central bank is going.   This is akin to Glasnost or Perestroika and we all know what the final result of those programs ultimately was.  This bill has a whopping 308 co-sponsors, a truly bipartisan effort and due to it's overwhelming support will at the very least see the light of day.  You can and should absolutely call your representative and urge them to do everything they can to pass this bill.  This could very well be the path toward ending the institution that has caused so much hidden damage to our country and could usher in a new wave of economic appreciation among the public.  Watch the committee hearings held on September 25th, 2009.

We live in precarious times and only the near collapse our financial system, melting dollar and diminished global power can raise the proper questions.  Auditing the Fed would have been impossible to do tens years ago as Greenspan's aura trandescended into god-like status, but times have changed.  If we do not rescue ourselves from the grips of Statist monetary fascists, we will cease to exist.