With the media finally waking up to the risk of recurring "systemic threats", aka Goldman not paying $20 billion in bonuses, courtesy of finding out just how much shit is really held by the Fed's discount window, everyone is suddenly interested in hearing it direct from the man at Ground Zero - Ron Paul... Even Steve Liesman, who no matter how hard he tries to spin "Audit the Fed" into "Control the Fed" will fail miserably every time he is not stuck in a patented blathering, factless monologue mode.

"[The Fed] is bigger than the Congress, [it] has more power than the Congress. The Fed Chairman probably is more powerful than our president, and yet we refuse to look at it. The time has come for us to look at the Fed"

Kucinich: the Federal Reserve is paying banks NOT to make loans to struggling Americans!

Since 2008, the Federal Reserve has loaned trillions of dollars in bailout money but refuses to tell Congress where it went. Legislative action is needed. The Federal Reserve Transparency Act would give the GAO the authority to audit the Federal Reserve and report its findings to Congress. The bill was written by Rep. Ron Paul and has 165 cosponsors, mostly Republicans. Democratic Congressman Alan Grayson is now working to get Democratic cosponsors for this bill (see Grayson's letter here). If you think that it's time to bring some transparency to our financial system, please endorse the bill and Rep. Grayson's letter by adding your name to the list.

Sign the Petition over HERE

Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.

Ron Paul: Welcome, Chairman Bernanke. I have a couple of questions, but first I want to mention that I find it awfully frustrating at times when we always talk about inflation and we only talk about the prices and say, “We have prices under control, there is no inflation”. We have to realize that the monetary base, the liquidity was doubled in a few short months. To me there is a lot of inflation out there. It’s already inflated, we’re in the midst of inflation. Because the prices haven’t gone up doesn’t mean we don’t have the distortion. And it was that system that gave us the financial bubble. Artificially low interest rates, the mal-investment, all the mistakes made. And now we’re trying to correct all that by doing the very, very same thing.

Campaign For Liberty's Mission Americans inherit from our ancestors a glorious tradition of freedom and resistance to oppression.  Our country has long been admired by the rest of the world for her great example of liberty and prosperity—a light shining in the darkness of tyranny.

But many Americans today are frustrated.  The political choices they are offered give them no real choice at all.  For all their talk of "change," neither major political party as presently constituted challenges the status quo in any serious way.  Neither treats the Constitution with anything but contempt.  Neither offers any kind of change in monetary policy.  Neither wants to make the reductions in government that our crushing debt burden demands.  Neither talks about bringing American troops home not just from Iraq but from around the world.  Our country is going bankrupt, and none of these sensible proposals are even on the table.

Ron Paul’s legislation HR 1207, The Federal Reserve Transparency Act, is gaining support. HR 1207 has 55 co-sponsors and real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

HR 1207 will open the Fed to transparency. We must not miss this opportunity.

It is now in the House Committee on Financial Services. This is THE MOST IMPORTANT STEP in this legislation! If it doesn’t get out of committee it will not come to a vote! There are 71 members on this committee and they are all listed below.