Thursday, November 19, 2009

Paul-Grayson Amendment passes financial services committee

I've been skeptical about this bill for a long time. Maybe I should be more optimistic. I never thought it would get enough co-sponsors to pass. Then as the number of co-sponsors rocketed to 300+, I still thought, this is great, but there's no way this passes. My skepticism was justified when Ron Paul said his bill had been 'gutted', mostly by globalist shill Mel Watt. But this news gives me a glimmer of hope that this, in my opinion the only hope this country has of restoring liberty without a major upheaval and revolution, could actually pass. This is the front line. If you're not behind the end the Fed movement, if you're supporting politicians who are not behind the end the Fed movement, you're barking up the wrong tree, and you're being played.

    Wall Street Journal -

    WASHINGTON -- A key House panel on Thursday approved an amendment offered by Rep. Ron Paul (R., Texas) to give federal watchdogs massive new authority to audit the Federal Reserve.

    The approval came as the House Financial Services Committee concluded weeks of debate on a sweeping financial-overhaul bill to create a new council of regulators to wind down large institutions that pose a risk to the economy. A final committee vote on the bill will be postponed until after Thanksgiving.

    Mr. Paul's amendment removes restrictions on the Government Accountability Office's auditing authority, giving auditors access to every item on the Fed's balance sheet. He for more than 20 years has championed significantly neutering the Fed.