The printing presses are still churning to keep up with Washington’s unending appetite for spending, hastening the decline of the dollar and sending gold up to over $1,150 an ounce.
Public pressure for transparency fueled the debate raging in Washington over monetary policy and resulted in a notable victory yesterday for advocates of sound money.
In the House Financial Services Committee, Dr. Ron Paul’s amendment to restore the original language of HR1207 passed by a vote of 43 to 26, overcoming an attempt by Rep. Mel Watt to sabotage the bill. If passed, this historic bill will subject the Federal Reserve to the first full audit in its 96-year history, reveal deals made with foreign governments and central banks, as well as the recipients of trillions of dollars in Fed bailouts. The first step has been successfully taken to prevent it from being rendered useless by the special interests in Washington.
HR1207 now has 311 cosponsors, while the senate version, S604, has 30 cosponsors. Dr. Rand Paul, a firm advocate of transparency, applauds the efforts of Kentucky’s representatives, all of whom are supporting the audit, and looks forward to the day when Kentuckians can choose sound money that cannot be devalued at the whim of unelected bureaucrats. Learn more about Rand’s position on monetary policy here.
Related posts:
