Do you think that Dr. Paul's Audit the Fed Act will pass?

Miscellaneous Current Events
1

I was wondering what people thought. I’ve contributed to it and signed the petition, not sure if it will get passed, but rather to show my support and help give it publicity.

I’m evenly split between thinking the third time is a charm for the Fed or the Fed will get a 3rd strike.

A friend told me that the Fed was stealing gold from Fort Knox; maybe that’s a last ditch effort to prevent the Constitutional method of the U.S. Treasury printing money backed up by gold, because they (i.e., the Fed) knows that if the Audit the Fed Act passes they’ll be caught?

Also, if this isn’t a dumb question, couldn’t they be tried for Counterfeiting if they’re bank is dismantled?

I kind of think they deserve to, considering the fact that anyone else would serve time for making fake money.

They don’t care how tyrannical they make the government as long as they get the tax-payers money. That’s a pretty pure form of evil greed, in my opinion.

2

Do you think the rest of the government stooges want their shenanigans to be known?

Unless and until more people learn what the federal reserve system is and complain, nothing will happen. Well, either that or we have a severe monetary crash.

3

Considering that 98% of the polytrixters are owned by the FED, I doubt it will see much light, sadly.

They probably already ‘own’ all of the Fort Knox gold.

They are ‘legally’ counterfitting.

Viva la revolucion!

4

Even if it was all made public, I doubt that it would give much immediate effect in terms of public sentiment. However, it might affect some investors, idealists and academics.

Still, working the unlikely prospect of making it happen is the way to go for a parlimentarian like Ron Paul. I really like his adaption to “political reality” (oh, how I hate that phrase!) without ever allowing himself to take even the smallest step in the wrong direction “as a compromise”. If nothing else, then in the future when the horrors of the FED are eventually reavealed by historians, it will be on the records that it was the one and only Austrian Economist in Congress who insisted on uncovering it already in our life time.

5

Kind of late, but I saw where a lot of people were finally up in arms about something the FR, particularly Ben Bernanke has done.

It’s kind of a shame that the majority’s knowledge is so limited though, that the only thing that has gotten them up in arms is what they believe a reasonable CEO payment to be, rather than all the awful things the 3rd FR has done in almost a century, including being a key component in the cause of the depression.

If the FED ever does get dismantled, its death won’t be near fully taken advantage of though. The U.S. Treasury dept would return to printing the money, but the obama admin and Congress lacks any econ knowledge, so they’ll probably not back up the money printed with gold and/or a more valuable naturally occuring metal, because most politicians in power these days, including most throughout time, definitely more recent ones, and the current Admin know nothing about economics because they strongly oppose the Austrian School of Economics. And they don’t really know anything about general economics. I wouldn’t be surprised if someone in the Obama admin has less knowledge about econ than me, to be honest.

I heard that the FR has stolen most of the gold, which doesn’t surprise me. Do they do that to hurt other people if so, are they doing that so others won’t have real money in the slim chance they get dismantled? Also, would anyone agree with me if I said the Federal Reserve has no good intentions for anyone and that they know they’re hurting everyone and doing it on purpose? I just though it would be better if I asked someone who knew more than me, before I made any assumptions.

But at least it’s a start and Dr. Paul will be happy because he’s not out to boast about something [unlike mike huckabee who made the false claim that he thought of a national sales tax before Dr. Paul, when Huckabee voted for tax hikes AND Rev. Huckabee also claimed that he wouldn’t necessarily abolish the IRS despite the fact that he’d get rid of the Federal Income Tax; that offended me when I read all of that]; he’s the only Congressmember who is out for zero self-gain, but 100% supportive of the complete restoration of natural, individual liberty, so he’s not going to be unhappy about it. Dr. Paul supporters, however, are going to be infuriated if he doesn’t get his deserved credit b/c he’s the only politician I know of that currently in office who deserves it; I know I’m going to be VERY disappointed at the majority if they don’t primarily recognize him for any action taken to dismantle the FR.

EDIT:ceo pay reg likely to happen as a result, or more likely for FR to be penalized? I hope the latter, because people need to learn that regulations only make the situation worse.

6

We can’t just decide what we think the history books should say. We have to win first.

7

Even if they did an audit of the Fed, it would takes years for an auditor to figure out what was going on. If they auditor didn’t come to the conclusion that the government wanted to hear, they would just fire his/her staff. Corporate world doesn’t operate much differently. Then when a report comes out, you can get up in arms about a red hearing, call for greater regulation and controls and ignore the larger problem.

I like the legislation. I think in honest hands it could become useful, but don’t expect much even if does pass.

8

Does anyone have any stats on how much of Congress is supporting it? It would need to be 2/3 though, because Obama will veto it.

Also, I saw the video with Michele Bachmann questioning geithner and the Fed chairman. Ben Bernanke seemed angry (to me at least) at times; then at other times when he was speaking he was trying to cover things up, or so that was how I interpreted it, because he kept on stuttering until he could come up with a “decent” lie. He usually does that, but when I saw him stuttering in this hearing to try to think of a lie, that kind of gave me hope, [maybe it was false hope], that he knows he’s near the end of the career. I know that the Obama admin is going to do whatever they can to protect the Fed, their source of power, so that they can continue to expand their conquest and power, though, so it’s not objectively clear either way yet.

9

No.

10

I read somewhere that Ron Paul has demanded an inventory of the government’s gold assets, how much is stored in Fort Knox and how much of it actually is owned by the government. Alledgedly, this hasn’t been done since the 1950s. Is that in the same bill as the audit of the FED, or is it a separate initiative?

Btw, do central banks store silver too, now a days? I was under the impression they didn’t.

11

Last time I saw, the bill had 46 co-sponsers, which is very high for any bill. The recent bills that have passed that I’ve seen had about 28 to 32 cosponsers. So my question, that probably doesn’t have an answer, is, if there are that many co-sponsers, then why isn’t it being debated upon and voted upon any time soon? Obviously with that many co-sponsers, which is high, there is a hold-up… da ya think, lol [:P]

12

I haven’t heard about the inventory. But it’s not in the fed. audit bill.

13

Nothing advances without the blessings of the leadership.

14

Actually here’s the update. It’s a quote from the Campaign for Liberty website (highest numbers of co-sponsors for a bill in history):

“By the way, we’re now officially up to 49 cosponsors!! With your help and support, Dr. Paul has passed the previous record of cosponsors (44 in the 97th Congress) and our efforts are only in the beginning stages.”

15

I can’t keep up with the numbers. Now apparently another Congress man or woman added their name as a co-sponsor. The number is up to 50 now:

http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR01207:@@@P

[li] Lightening speed

16

Another question, even though I feel kind of dumb asking. Do you think Obama will veto it, if it passes? I think he won’t, but I couldn’t be close to sure either way, without knowing what other people here think, as I’m fairly new to Austrian economics, although I’ve basically been taught about economics by people here better than I could if I took an econ course next semester.

I guess that Obama won’t veto it if it’s popular, because Obama always does what a majority wants, as a true Democrat. Of course, I don’t know all the details, and I don’t know where Obama would get his power from, if the Fed wasn’t there to counterfeit for him so he could have more power. So I’m only 60% self-confident when guessing that he won’t.

17

I don’t know what the circumstances will be involving Obama’s signature, but the audit doesn’t get rid of the Federal Reserve and as we speak in the G20 they are planning on a new world currency so this audit might be too late anyways. For the audit will make the Federal Reserve doings more mainstream for its going on’s would be made transparent. Yet, that’s still some steps away from the central bank actually going away and the audit, according to the bill, wouldn’t start until 2010 I believe anyways. That’s also probably why there really isn’t much opposition to this audit bill by any “loud voices” in the government. Their just moving on with their plans anyways.

18

I read that the Gold Anti-Trust Action Committee is pressing for an audit of Fort Knox.

http://www.lewrockwell.com/rajiva/rajiva16.html

19

“HR 1207 now has 55 cosponsors,”

Well, the co-sponsors are climbing fast. Up five from yesterday. The old record of 44 looks small now. I wonder how many representatives are needed to pass a bill. I know co-sponsors are different from how many needed to vote upon it, but if this many are sponsoring the bill it is a strong assumption that the bill has at least this many votes.

20

It would not make a difference if the audit was done or not. The results of an audit, would convince no one. The first thing you would hear after such an audit, is “Those dirty bankers need to be hung high and dry!”, the second thing you would hear is, “We must nationalize this private Federal Reserve!” That is all that would be done. Then it would be much the same.

The average joe would not learn a thing.